PCGS "Genuine" And The Philosophy Of Collecting

Does the fact that a 200-year-old coin has, at some time in the past, been been cleaned mean that we don't have a responsibility to preserve that coin for future generations? I don't think so.

There are only so many, there are now far fewer than there were, and we need to treat each and every one as precious pieces of our history. That statement transcends denomination and condition. If it came down to it and I had the money, I would hoard "Genuine" coins simply because they don't get the respect they deserve.

People will have all kinds of opinions on this. It depends on their goals, financial abilities, and the rarity of the coins they are seeking. For a popular key-date such as the 1909-s vdb, cleaned coins sell for most of what a problem free coin would sell for. Since the value difference is small, and the svdb is very available problem free in all grades, there isn't much reason to compromise for a problem coin imo unless it is a killer deal.

However, I am completing a set of Standing Liberty quarters. Right now I have a dateless 1916 that would grade FR-2 at best that I obtained for a great price. Sure, I'd love to have a problem free VG or Fine example of this date; but now we are talking 5-7 grand; and I would also need to start preparing for my funeral if my wife caught me spending that kind of money on a single coin. So in the dilemma you provided, I would likely choose (b). I could also see myself going with (c) if the coin's problem wasn't overly distracting; but I would prefer ANACS or NGC with a "details" grade over a PCGS genuine slab if I had the choice. Anyways, just my opinions. :-)

I thought the PCGS Genuine slab was a great idea, and wondered why it took them so long. I'm also glad they used the same slab and insert colors, unlike the old NCS slabs which looked funereal to me (problem coin=dead coin).
It settles the question of authenticity almost completely, which is important if someone is looking for a rare coin for type; and by identifying problems it allows potential buyers to examine the coin more closely and make a better determination of value. It's the sort of improvement that should really make many of the multipage sellers in CoinWorld obsolete, if only people would desist from buying their raw, problem coins looking for bargains. True, knowledgeable bargain hunters can find bargains in "problem" slabs; it is not unusual for coins tagged as cleaned or AT'd to wind up graded on a resubmission, you just have to know what your are doing (and luck helps, I'm told).

I do NOT but coins in "Plastic body bags"!
Now that it is plain that I like my coins raw, I do have to mention that if one has the "wherewithall" to go for the best of the best, your choice. I was born when jobs were as scarce as "hens teeth", and if one had a job that paid $%.00?day, you were lucky. my daf was lucky.
I collect FE/IHC, and have a couple sets that lack the '77, '09-S. I am working on another groups of sets that most of you would 'turn your nose up at", BUT, when I am done, they will have every date present. They are "problem coins". I told you. I feel that to have a collection of anything, it usually will be a combination of anything you can afford. Some are blessed with $$$$$ and can 'pick and choose". Not everyone fits that category. Then if you haven't been collecting all your life, and have accumulated a sizable "hoard", by thr time you retire, you are going to be very limited in how much you can afford to spend on coins, (or anything else, for that matter).
I retired from the Navy, in May, 1963, and have not worked since 1981. Whwere does that pt me? "yep, "fixed income. and the economy is not helping any, either. I am happy to be able to get what I have gotten, and if I live long enough, I'll be able to say I have completed my FE/IHC collection(s). The 1877, and the 1909-S are missing, and if they are cheap enough, even if they have been cleaned, or whatever, as long as the date is readable, they will be welcome, (if I can afford it/them)!

dick

Don Willis just posted this on the CU forums, in response to someone's query about the genuine slabs:
"3) The Genuine process is in no way a cop out. How quickly people forget. Well, I don't forget hearing complaints when I was dealing with customers who sent a coin in for grading and had it come back in a body bag. They felt cheated that it wasn't in a a holder. Now, with the Genuine service, that coin can 1) be guaranteed authentic, and 2) placed in a holder even if it has a problem such as cleaning or damage, etc. I think that's a great option (you can request a body bag if you like) and so do a lot of very satisfied submittors. There are a lot of nice coins that have a problem (ex. early type that has been cleaned) but now they can be collected in holders, added to Registry sets, and fit in with your entire collection.

There you go."

It depends on whether or not you are Okay with problem coins in your collection. Personally I avoid problem coins, as many do, I just prefer to know the coin is in a condition it was meant to be in not doctored in some way. Originality is key to the appeal of a coin.

Having said that, as always with Numismatics, it all has to do with what you want/like/think ect and how you build your collection. If you are fine with Genuine slabbed coins being in your collection then more power to you (and you can save $$$ at the same time).

I have a 1909-S V.D.B. with beautiful AU details but has the finest porosity I have ever seen on a coin. It is like jbuck stated, the fantastic eye-appeal of this coin is the reason I bought it. It was housed in an ANACS problem holder when I bought it and I have since crossed it into a PCGS Genuine holder. I think the advancements that PCGS has made introducing the "genuine" service, was a very smart move. I still personally believe that some of these coins are gradable unlike what PCGS's philosophy is. Another words, I believe my 09-S V.D.B. is AU55 code 97.