1986 P Statue Of Liberty S$1

I wondered the same thing Eagle. That scratch was not easily seen with the naked eye. It wasn't noticed until I saw it on the submitted image so I looked closer with the loupe thru the holder and had to look from several different angles before I caught it. It is much less discernable on the coin than the image shows. The angle of the lighting really accentuates it. I am guessing the grader missed it because it is not clearly visible on first glance without doing a closer look and only from a certain angle. The image makes it really stand out yet it is much less severe than that to the eye. A hasty glance by the grader let this one slip thru.

Although no grading companies use anything scientific or verifiable to label their slabs with (which is why any coin broken out and sent back even to the same grading company is never guaranteed the same grade again), the general market considers PCGS, NGC, ANACS, and ICG to be the only reputable ones.

Yet just like this coin, you can find coins in any company slabs that are in error. After finding a number of MS70 PCGS eagles in slabs with obvious damage to them years ago I started to look into the subject deeply and have been very disenchanted with what I find including level of expertise with even the company most people will say is the best.

But words are cheap. Read the essay in my signature showing, with PCGS's own data, a 30%+ failure rate with a simple rookie level error, the No FG Kennedy half dollars.

Also:
http://goccf.com/t/346174#2967242


Please understand that I am NOT saying people who enjoy collecting slabs are somehow "wrong" for doing so. There is no "right" or "wrong" about the subject since hobbies are about fun and enjoyment.

What I am saying is that these companies are businesses. A business exists to make a profit to keep bread on the table. And despite what people hope to be able to believe, there are a lot greater number of inconsistencies when a verifiable standard is not used. In the 90s they all had verifiable standards using a computerized system, but abandoned those methods with a weak claim it was b/c people did not trust computers (which WAS true), so while the rest of the world computerized, they did not, and to this day do not. I think (note that word) it no coincidence, but a business move, that if the companies went back to giving one verifiable grade to each coin then the very profitable "crack the slab and re-submit hoping for a higher grade" game people play all the time would no longer be bringing in the profits the company enjoys. One day someone might bring the coin grading systems back into the 20th century (that is not a typo - the system was there once and reverted). But when they do, the Beanie Baby effect will take over, and the companies won't have the lucrative re-slabbing game.

DoWhat,

I remember Buying THESE 1986 Sets from CHEMICAL Bank, The Banks use to Order, Receive these. The 1986 Statue of Liberty, In New York Harbor , with ELLIS Island in the Background. In Silver Too.

I Love this Commemorative for Personal reasons. My Grand-Father was received going through ELLIS ISLAND back in the Late 1800'S . The Coin, Shown in Brilliant UNCIRCULATED Finish, Another PERFECT Unc...




Thanks for Sharing ......

I really appreciate all the feed back here. First of all, I have to let you all know, I do not collect coins based on their rarity or beauty. I am more drawn to their content of PM's. This could be considered the difference of a numisticist and a stacker. The only reason I would purchase a slabbed coin is in the hope of getting more ozt for what I paid for the piece.
Can any of you direct me to where I can purchase 90% US silver dollars for below $30? Culls come close. I like Peace dollars.
I get this coin, go to LCS, and say, " How many Franklin's can I get for this? What would you say?