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 Replies: 12 / Views: 2,582 |
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Pillar of the Community
Canada
798 Posts |
An interesting read I thought you would all enjoy ... From NGCCOIN.COM The 1992 Canada S$15 Plain Edge Olympic Rarities The PF69 example of this coin is 1 of 3 known examples certified by NGC. This coin has a very dubious history and an extremely interesting pedigree. This coin was originally acquired by Ohio Republican lobbyist Tom Noe in 1998 for his $50 million rare coin investment fund headed by his company 'Capital Coin'. The fund held this coin, and two others like it (in PF68 grade) as part of the pension fund for the Ohio Worker's Party. Sometime before 2005, the coins were sold to Greg Manning and Jim Halperin in a closed auction. In 2005, Noe was found to have been illegally skimming money from the coin fund and was sentenced to 18 years in prison. Greg Manning and Jim Halperin then sold the coins to Mike Byers in a closed auction. Greg Manning was later accused of purchasing coins below market value from 'Capital Coin' but was never convicted of any wrongdoing. Mike Byers is a self-proclaimed expert in rare coins from around the World. The coins were then split up in 2009-2012, with the two PF68 examples being sold to Ian Russel of Irvine, California and the PF69 example being sold to Alan Hager (former founder of Accugrade coins and himself tied to an ANA lawsuit accusing his company 'Accugrade or ACG' of grading inflation). In 2016, both of the PF68 examples were acquired by the Augustus Collection, and in 2018 the PF69 example was acquired by the Augustus Collection. All three coins are now safely together again. These three coins are stunning modern numismatic rarities. In a twist of fate, luck, or a bad omen associated with these nefarious coins ... not 10 minutes after completing the purchase of the prized PF69 example, a porto-potty blew off of the 58th floor of a high-rise building and landed 10 feet away from me on the ground. Yes, I was very nearly killed by a box of poo from the sky. Coincidence?!? ———————————- Total population is unknown, but very few exist.The certification of the PF69 example is 17XXXXX-001, and this example is 17XXXXX-002. One more coin ending in -003 also exists, but NGC has 'deleted it from the registry (?). Very few examples known, only 3 certified by NGC. Pedigree: ex. Tom Noe Collection, ex. Jim Halperin Collection, ex. Greg Manning Collection, ex. Mike Byers Collection, ex. Alan Hager Collection, Augustus Collection, 04/04/2018   Edited by JGG
04/05/2018 1:10 pm
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Bedrock of the Community
United States
94367 Posts |
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Valued Member
Canada
70 Posts |
interesting knew a little about Olympic edge lettering, now a story like the uso incident in falcon lake
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Pillar of the Community
 Canada
798 Posts |
I've noticed that the gold strike version of this plain edge coin is bidding at $22,200.00 USD at Heritage. I wonder how much the OP bought these three coins for? Any guesses on what they might have cost?  |
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Pillar of the Community
Canada
5324 Posts |
This gold version is a much cooler off metal strike, not a missing edge lettering type, the RCM might not be too happy with this coin as the gold is kept in a separate building probably initially paid well north of 20,000 . I believe Mr. Byer was asking close to 50000 for it. |
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Pillar of the Community
Canada
798 Posts |
Thanks for the info John! Very cool. I wonder then if an employee of the Mint made all these on purpose?
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Pillar of the Community
Canada
798 Posts |
The off-metal strike is listed as 'missing edge lettering' as well. Byers has one for sale on his site for $150k USD
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Pillar of the Community
Canada
5324 Posts |
The silver versions probably were just a honest error, the coin is struck and the edge lettering is added in a latter process, one can see how a coin could miss this step, these are not highly sought after in the error market, it's not obvious unless you turn the coin. The gold version is another story, it's either a rogue employees or under a custom order by senior RCM big shot Edited by john100
04/07/2018 9:30 pm
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Pillar of the Community
Canada
798 Posts |
The gold one is cool for sure. But $22,500 USD?!? Even for $2500 USD, these coins are way out of my price range.
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Pillar of the Community
Canada
798 Posts |
Watching this gold auction wrap up on Heritage. I still can't believe it is selling for over $25,000 CAD
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Pillar of the Community
Canada
798 Posts |
Ha! Upon closer inspection, it seems as though the owner of the coin has bid it up himself! What a dirty, underhanded move! THESE COINS TRULY DO HAVE SOME SHADY CHARACTERS BEHIND THEM!
From Heritage:
Current Bid:$18,500
w/ Buyer's Premium (BP) : $22,200.00
‡ Status: The owner placed a late reserve on this lot, and is now the current high bidder subject to applicable commissions.
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CCF Master Historian of USA Commemoratives
 United States
12271 Posts |
Quote:
...it seems as though the owner of the coin has bid it up himself! What a dirty, underhanded move! An owner placing a reserve on an auction lot to insure that they do not allow their coin/note to be sold too low is a common practice and not "dirty" or "underhanded" in any way. Why should an owner of a piece have to take a loss? I don't think any of us here would like to take a loss on the sale of a part of our collection if we could prevent it. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
Canada
798 Posts |
Sure. I agree, comments. But this coin has been at auction for two months, and he only added the reserve in the last 10 days of auction. To 90% of people, this looks like bidding action when in fact it is not.
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Replies: 12 / Views: 2,582 |
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Posted 04/05/2018 12:31 pm
