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Goodacre Presentation Sacagawea?

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Bedrock of the Community
Bryan1315's Avatar
United States
14454 Posts
 Posted 04/09/2006  4:31 pm Show Profile   Bookmark this topic Add Bryan1315 to your friends list Get a Link to this Message Number of Subscribers
I want to know how can PCGS slab these coins and grade them when they very well know they have been polished yet they send so many of my morgans back to me in a body bag when they say they have been lightly cleaned sometime in their 100+ years of existance? For those of you that do not know the story here it is:
Glenna Goodacre was awarded a $5,000 prize for having her sculpture of Sacagawea chosen for the obverse of the new golden dollar. She asked for and received payment in 5,000 Sacagawea dollars. The Mint decided to use burnishing (polishing) on both the planchets and the stamped coin and released the 5,000 coins to her specially packaged as "GOODACRE PRESENTATION" dollars.
anyway I was just wondering if anyone else knew why they encapsule these when the whole world knows they heve been polished but wont one that there is just a chance it was lightly cleaned some time ago. Any input of why this is would be greatley appreciated
Bedrock of the Community
Bryan1315's Avatar
United States
14454 Posts
 Posted 04/09/2006  9:40 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
hmm.....nobody wants to comment on this topic? Is there something that makes these coins special to where they dont fall under the same rules that all others have to go by? Maybe I need to do more reading on it but from whhat I have read on it even ICG wouldnt grade these coins for the very reason I mentioned but PCGS will? I must be missing something here, please inlighten me on what makes these certain coins so special that they can make their own rules to go by from what alot of people consider to be the Top Grading Company that is so tough on every other coin
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Mike's Avatar
United States
2884 Posts
 Posted 04/09/2006  9:59 pm  Show Profile   Bookmark this reply Add Mike to your friends list Get a Link to this Reply
Hey Bryan, I agree with what you have said. I'm still waiting for an answer from David Hall about PCGS dipping coins and then slabbing them for selected clients. I'd love to see an answer to this question as well! Mike
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Morgan Fred's Avatar
United States
2684 Posts
 Posted 04/09/2006  10:20 pm  Show Profile   Bookmark this reply Add Morgan Fred to your friends list Get a Link to this Reply
Bryan, I have been convinced PCGS has double standards: one for privileged clients and the other for us peons. More recently, I have become convinced they have it in for me in particular (see thread 1890CC Morgan in Coin Grading Proctology... er, Practice ). I cracked out the 90CC from an NGC-graded MS-62 slab and submitted it to PCGS. It came back bodybagged as "cleaned". I put it under a magnifying glass, didn't see any signs of cleaning, resubmitted it for Presidential Review and David Hall sent it back as "harshly cleaned". I put it under first a 10X hand lens (loupe) and combined it with a 7X dissecting lens (70X power). I still cannot find any signs whatsoever that it has been dipped, rubbed, whizzed, or otherwise "cleaned"; it compares very favorably with some MS-64s and -65s I have, also PCGS. What I DID find under that higher magnification was a delighfully delicate die crack that almost certainly would have disappeared under any "harsh cleaning", even a light dipping which would have removed luster.

If I had been a major dealer, I am certain my Morgan would have been returned in a slab with a very nice grade.
Pillar of the Community
United States
1203 Posts
 Posted 04/09/2006  10:36 pm  Show Profile   Bookmark this reply Add OldDan to your friends list Get a Link to this Reply
What you all have said is absolutely true and has been for quite some time. In fact, this has been going on so long that it amazes me that anyone is surprised when it happens to them.
As for David Hall answering to the charge, I rather doubt if you ever get a answer to your question. Either that or else he will say it's not cleaning, but only conserving. Which is another way of saying if they do it it's all right and don't count.(unless as you have found out you crack one out and send to someone else to slab.)
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scoutjim99's Avatar
United States
4589 Posts
 Posted 04/09/2006  11:07 pm  Show Profile   Bookmark this reply Add scoutjim99 to your friends list Get a Link to this Reply
it all about the benjamins
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Susanlynn9's Avatar
United States
5877 Posts
 Posted 04/09/2006  11:14 pm  Show Profile   Bookmark this reply Add Susanlynn9 to your friends list Get a Link to this Reply
Although I do not agree with this, they are probably looking at the coins as still being "Mint State" as the polishing happened at the Mint. No, I don't think this should make a difference, but this way they can make the money on slabbing them with the pedigree.
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Metalman's Avatar
United States
7123 Posts
 Posted 04/10/2006  12:17 am  Show Profile   Bookmark this reply Add Metalman to your friends list Get a Link to this Reply
As I recall,, The story behind these coins is that they bore a special finish, no matter how that finish was achieved it was done on purpose at the mint for this limited issue of coins.And in reality deserve to be graded as such.



Rick
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Bryan1315's Avatar
United States
14454 Posts
 Posted 04/10/2006  12:26 am  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
its still polishing after the coin was minted no matter who did the polishing it be the mint or old man John Doe 150 years ago which I thought was a automatic body bag and especially on a modern coin. And heck if ICG wouldnt grade it for this reason arent they saying to the public that our standards are lower then ICG's for coins from high end customers. I mean everyone that has ever read up on them knows they were polished and ICG wouldnt grade them for that reason so what does it say about PCGS when you see the collection graded by PCGS? I have a couple 1918 walking liberty's (that are very dear to me because it was the year my Grandmother was born and it reminds me of her whenever I see it) that have very clearley been put on a buffing wheel sometime in their life, although these things are shiny (about like the Goodacre collection) and very pretty I would never send them to be graded just because I know they would be body bagged before they took them out of the 2x2 I sent them in


Update: I just read the coins were also treated with a antioxidant to preserve their appearance which is another automatic body bag for a normal person

I still disagree that they should be graded, I dont see anything wrong with what ICG did and authenticate that they were from that batch of coins but not give it a grade because of the fact that they wouldnt give any other set of coins a grade that have been through the same treatment after the coins were minted.


Anyway this is just my opinion on it, and really shows the double standard that PCGS has with their customers again in my opinion only
Edited by Bryan1315
04/10/2006 12:42 am
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Metalman's Avatar
United States
7123 Posts
 Posted 04/10/2006  12:45 am  Show Profile   Bookmark this reply Add Metalman to your friends list Get a Link to this Reply
Bryan

i can see your point, and here is the Million Dollar question ,, when was the minting process complete,, after striking the coin or after finishing the coin ?

My opinion as stated earlier is that the finish on these coins was planned and intended to set them apart from the rest of the coins ,, so for these coins the minting process end after the coins were finished (burnished).

Rick
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biokemist6's Avatar
United States
12437 Posts
 Posted 04/10/2006  11:24 am  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply
http://www.pcgs.com/articles/article2995.chtml

In recent days the first five examples submitted to PCGS were certified. The coins are designated by PCGS as Mint State, not as Proof or Specimen strikes. Each holder does carry the notation and pedigree that the coin inside is a "Goodacre Presentation" coin.

A mild controversy is swirling around the grading of the coins, with some detractors arguing that PCGS is certifying "whizzed" coins. "Whizzed" is a numismatic term from the 1960s (or earlier) referring to coins that have been abrasively cleaned to alter their appearance. The important differences between whizzing, which was done by unscrupulous individuals outside the Mint in an attempt to fool and rip off collectors, and the Goodacre dollars' burnishing, are twofold. One is intent, and the differences are the antithesis of each other. The second is the source, as the Goodacre dollars were Mint made as a way to designate the coins as different and to honor the designer.

"They are Mint products exactly the way they left the Mint," said PCGS president Richard S. Montgomery. "They are also important numismatic items and significant historical artifacts. There is no valid reason why they should not be graded."

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