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 Replies: 15 / Views: 1,716 |
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Pillar of the Community
 United States
4618 Posts |
I remember a business strike 2003 Lincoln grading at MS-70, so I looked up the number. The coin sold in 2006 for $15,120 on Teletrade. The cert is 08830773.
However, when I put that number in the PCGS Certification check, it shows it as a MS-69 RED, worth only $90. Does anyone know why? It shows the Teletrade auction and price in the history, but also shows the following:
COIN INFORMATION
Cert Verification #: 08830773
PCGS Coin #: 3178
Date, mintmark: 2003
Denomination: 1C
Variety:
Minor Variety:
Mint Error:
Pedigree:
Country: The United States of America
Grade: MS69RD
Mintage: 3,300,000,000
PCGS Price GuideSM Value: $90
Holder Type: Standard
Population: 296
Why would it not show it as an MS-70? If it was re-graded, would they have knocked it down a grade and then used the same cert number because of the history?
I also looked on PCGS Coin Facts and it doesn't show a 2003 Lincoln with an MS-70 grade. Does anyone know the full story of the coin?
Does the MS-70 Lincoln still exist? ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!! 
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Rest in Peace
United States
9104 Posts |
Proof that the only place for ms70rd to go is down. You either lose $15,030 because the coin no longer meets the standard (and  would anyone let pcgs near a coin that already has a perfect rating?) or thousands because someone else finds another ms70 piece. |
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Pillar of the Community
 United States
4618 Posts |
This is just strange. I thought it couldn't have been dropped a grade, but it looks like it was! That's a BIG loss on the coin. If this is what happened, WHY? Was it damaged in shipping? Someone drop the slab when they went to ship it and they HAD to re-slab? Did anyone read anything about a the PERFECT cent being sent back to PCGS for some reason?
ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!!
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Pillar of the Community
United States
3592 Posts |
I don't know what happened to it, maybe a registry set competitor hired a "hit" man to eliminate competition ?
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Rest in Peace
United States
9104 Posts |
I love being able to know that an outside force beyond your control can decide that your coin just lost 99.4% of its value. They're right...coins are now just like buying and selling stocks. No matter how well you research, you can be wiped out.
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Pillar of the Community
United States
4132 Posts |
I would be so scared about the stability of a high-end coin like this, but particularly a zinc Lincoln. It could spontaneously start raising up bubbles one day, and that would be that.
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Pillar of the Community
United States
4618 Posts |
Quote:
I love being able to know that an outside force beyond your control can decide that your coin just lost 99.4% of its value. They're right...coins are now just like buying and selling stocks. No matter how well you research, you can be wiped out.  Don't say things like that! I'm glad that I'm an error collector. True errors, not variety coins, seem to hold their value or at least to parallel the overall coin market. I can almost always sell an error coin for more than I paid for it. My best was what I thought was a die adjustment strike that I paid $5 for on ebay. When I listed again on ebay for $15, I was told it could have been a hard planchet that was part of a batch sent to that mint that year. I had it listed as an adjustment strike, but when I added the hard panchet to the item title and description, it went nuts and sold in a bidding war between 2 people for $45. ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!!
Edited by Yokozuna
07/23/2011 02:48 am
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Bedrock of the Community
United States
12437 Posts |
I think I remember reading somewhere that it got downgraded due to the formation of carbon spots/flyspecks after it was initially slabbed.
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Bedrock of the Community
United States
19945 Posts |
That sucks for someone! I wouldn't be surprized about the post-slabbing spots forming. For the life of me I don't know why PCGS doesn't rinse coins with acetone before slabbing. You think about all the humans that have handled the coin in the process leading up to the slabbing....somewhere....contamination gets introduced to the surfaces. This simple step would mostly eliminate the problem.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
1418 Posts |
That's a shame that such a high end coin could basically disappear because of something so simple.
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Pillar of the Community
United States
3592 Posts |
Quote:
For the life of me I don't know why PCGS doesn't rinse coins with acetone before slabbing. You got that right Thad, I do it to all my finds...pretty simple insurance. |
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Rest in Peace
United States
9104 Posts |
Didn't someone say pcgs people don't wear masks (except in the holdupbilling dept?) I always heard that carbon spots were caused by sneezes.
"Send us a $15,000 coin, we'll return one worth less than $100, but it will be in a pretty plastic holder."
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Pillar of the Community
United States
3540 Posts |
Did the PCGS guarantee kick in and pay off then?
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Rest in Peace
United States
9104 Posts |
Are bears catholic? You'd think such a payoff would be front page news, wouldn't you? At least on the Poor Coins Generously Slobbed site?
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Pillar of the Community
United States
4541 Posts |
interesting story thanks for sharing!
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Pillar of the Community
United States
3283 Posts |
Just another example of the farce that is the grading companies that we (coin collectors) have bought in to.
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Replies: 15 / Views: 1,716 |
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Posted 07/22/2011 02:15 am
