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 Replies: 14 / Views: 1,248 |
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Pillar of the Community
United States
2661 Posts |
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Pillar of the Community
United States
6384 Posts |
There was a scandal associated with the grading of this coin a few years ago. It had previously been slabbed by PCGS or NGC (can't remember which) as PR-40 and was later re-graded as PR-58 by PCGS. Many collectors were at a loss as how to explain how a coin could improve its grade by 18 points. This kind of adjustment does not improve perceptions about the reliability of third-party grading.
The Heritage Platinum Night auction listing has a long and detailed listing for this coin, but I didn't see any mention about the grade inflation issue. The current bid is $1,700,000; here's your chance to add an 1804 to your collection!
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Valued Member
United States
90 Posts |
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Valued Member
United States
278 Posts |
The only bad thing about that show is that I was born and raised in Cincy, currently live in Vermont, and my ladyfriend already bought tickets to fly home this weekend prior to me being aware of the CS show. I will be watching the dog instead of seeing an 1804. My father, who is an electrician, actually was at the convention center doing some work yesterday and today, in preparation for the show... I should get him to register for the auction just to see it... for me?
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Bedrock of the Community
United States
10045 Posts |
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It had previously been slabbed by PCGS or NGC (can't remember which) as PR-40 and was later re-graded as PR-58 by PCGS. Many collectors were at a loss as how to explain how a coin could improve its grade by 18 points. Did it happen to be re-graded by PCGS just prior to an auction? Sometimes I have to wonder about big-ticket coins that are sent directly from an auction house for grading--particularly in terms of how money might be distributed after sale. One should naturally wonder what interests are at work.  |
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Pillar of the Community
United States
1415 Posts |
I just missed it  Went for 3.7 Million. Gee, I should have gone the extra 100K?  Someone is a sure happy person today  |
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Pillar of the Community
United States
2541 Posts |
I think that coin is way overgraded at PR 58. If you look at the wear on it, I think PR-45 is more reasonable. With that said, given the prestige and rarity of these coins, the condition almost doesn't matter as much. People will always pay huge sums for these 1804s, and quite rightfully, since everyone wants to own one and they know it will only go up in value when they come to sell it.
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Pillar of the Community
United States
1882 Posts |
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I just missed it
Went for 3.7 Million. Boy, you scared me there. That was the The Mickley-Hawn-Queller specimen. The Adams-Carter auction ends this evening. My agent is ready to place my bid. Edited by steve199
04/30/2009 2:32 pm
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Moderator
 United States
188213 Posts |
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My agent is ready to place my bid. You better not be shill bidding against me! I only have $4 million to work with! |
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Pillar of the Community
United States
1882 Posts |
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You better not be shill bidding Don't worry, I'm bidding to win. Please don't tell anyone...I don't want anyone to know I own that thing. |
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Moderator
United States
188213 Posts |
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Don't worry, I'm bidding to win. Please don't tell anyone...I don't want anyone to know I own that thing. Don't worry, your secret is safe with me... and the countless millions reading this thread via Google! Edited by jbuck
04/30/2009 2:09 pm
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Pillar of the Community
United States
1882 Posts |
Yeah...but what if my last name is really "198"? hehe
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Pillar of the Community
United States
1415 Posts |
Hey, Jbuck Ya wanna pool our monies? We might have a chance  |
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Moderator
United States
188213 Posts |
Sure. But I get to have it on Mondays, Wednesdays, and Fridays. You can have it on Tuesdays, Thursdays, and Saturdays. We can alternate Sundays.  |
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Pillar of the Community
United States
1882 Posts |
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Replies: 14 / Views: 1,248 |
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Posted 04/29/2009 11:08 am
