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 Replies: 18 / Views: 6,395 |
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Moderator
 United States
16677 Posts |
   I just sent this coin off to PCGS to be crossed over into their "genuine" slab. Here were my pros and my opinions: 1) I like the PCGS holder. 2) Better long-term storage than ANACS (I've had there slabs actually seperate!). 3) Come time to sell, better marketability. My only con: Coin not gradable? Why? I don't like how ANACS puts a details grade on the holder. If a problem coin has AU details, how is it a VF30? IMO, the amount of remaining details a problem coin may have still does not warrant this. ANACS obviously called this coin AU details. Why not leave it at that. When I purchased this coin, It was obvious to me after looking at it closely, it was an AU coin with micro-porosity and a cleaning. It was still an AU coin with issues. It's eye-appeal was a 9 out of 10 and the price was right. I am not saying it should be priced as an AU problem free coin at all. I'm just saying it's AU details not a VF30 net coin. What are your thoughts on this? swcoin.ecrater.com
Edited by vermontensium
02/12/2009 6:31 pm
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Valued Member
United States
357 Posts |
I would sell it after it came back from PCGS and use that money and maybe some more and buy a lower grade problem free gradeable 1909 s VDB.  |
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Valued Member
Canada
464 Posts |
If it was cleaned, won't PCGS refuse to slab it?
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Valued Member
United States
357 Posts |
They would slab it as genuine. Its something new for them.
Edited by norseman012
02/12/2009 6:55 pm
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Moderator
 United States
16677 Posts |
Quote:
I would sell it after it came back from PCGS and use that money and maybe some more and buy a lower grade problem free gradeable 1909 s VDB. I've thought about that but I am going to enjoy this coin for now. In hand, it's awesome. That's one of the reasons I went for it. The details are sharp. swcoin.ecrater.com
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Moderator
United States
23522 Posts |
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If a problem coin has AU details, how is it a VF30? Market valuation. How often do we get people asking how much value their cleaned/damaged coin loses compared to grade? The PCGS Genuine slab makes no attempt to establish this. That said, I can see nothing but good in PCGS' move to begin slabbing problem coins. |
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Pillar of the Community
United States
1231 Posts |
Pcgs will slab it as genuine and they use a 2 digit number to identify the problem
82 = Filed Rims
83 = Peeling Lamination
84 = Holed and Plugged
90 = Not Genuine
91 = Questionable Color
92 = Cleaning
93 = Planchet Flaw
94 = Altered Surfaces
95 = Scratch/Rim Dent
97 = Environmental Damage
98 = Damage
99 = PVC Residue
The one that confuses me is 90-Not genuine. If it isn't genuine why would they slab it
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Pillar of the Community
United States
819 Posts |
The only sense I can make out of it is that it is an AU coin (AU details) which is a + ; but has the noted problems of being corroded and cleaned (-)and therefore they have arbitraily downgraded it to VF 30 meaning (net). I am under the impression that 3 people have to grade the coin and if one has a lower grade it gets the lower grade, is this a way of saying that 2 graded it AU and 1 graded it VF30 in overall value due to corrosion and cleaning? I think it is a subjective, arbitrary way of resolving grading issues within the house because they did not know how to resolve the issue; therefore the get the detail grading and the problem areas combined in one shade of gray.
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New Member
United States
6 Posts |
Well, I see your point. But here's the other take on it ... if I knew a coin had been cleaned, I would not send it in to be graded and slabbed for the very reasons you are presenting. PCGS will grade it "Genuine", but when it's time to sell, your potential buyers are still going to want to know why, but at least it's a sweeter pill for them to swallow not having it written on the label. (For what it's worth)
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Moderator
United States
23522 Posts |
Authenticity is a major concern in these days of cheap, easy Chinese counterfeits. I could see myself willing to buy a cleaned/altered coin at the right price, if I could be confident of its' authenticity.
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Moderator
United States
16677 Posts |
What amazes me is why PCGS had not done this sooner. I told a buddy of mine years ago that PCGS has to swallow their pride and start slabbing problem coins. They obviously see the market potential both on their end as well as our end for slabbing problem coins. IMO, PCGS should at least note the problem on the holder even though some are very obvious.
swcoin.ecrater.com
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Moderator
United States
16677 Posts |
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I could see myself willing to buy a cleaned/altered coin at the right price, if I could be confident of its' authenticity.
I'm not exactly a big fan of problem coins either Super, like I said, this coin was too nice to pass up. I had to go for it. And yes, I know it's authentic. That should always be of major concern when buying a highly counterfeited key such as this. The Chinese are not producing "problem keys" yet as far as I know. swcoin.ecrater.com
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Valued Member
United States
357 Posts |
Its still a wonderful coin no matter what. I never had a problem with rare copper coins that has a little corrosion or lightly cleaned if its a rare copper. Shoot if you wanted to sell it I would be happy to take it off your hands.
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Bedrock of the Community
United States
17884 Posts |
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The one that confuses me is 90-Not genuine. If it isn't genuine why would they slab it They won't. That one you get back in a bodybag and the label that comes with it will have the serial number format 1234.90/1234567 Quote:
What amazes me is why PCGS had not done this sooner. Probably because for years they always said that under no circumstances would they EVER put problem coins in a PCGS slab. Hypocrisy can take quite a while to stomach. |
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Moderator
United States
16677 Posts |
Quote:
Hypocrisy can take quite a while to stomach.
You can say that again. All of a sudden, they see the $ signs. swcoin.ecrater.com
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Bedrock of the Community
United States
10982 Posts |
Wow - the OP coin has a huge chunk of the obverse rim missing at 10:00, is corroded and cleaned with pinholes and nets VF30?!
I think this is why PCGS will only slab it as Genuine and that might actually help it's value!
There's no way I'd pay VF20 money for that coin. Somebody will pay $1,000 for that one but it wouldn't be me.
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Replies: 18 / Views: 6,395 |
Posted 02/12/2009 6:47 pm
