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Bought a Pig In a Poke, $2.5 Gold Indians and the grades are just in..



I bought a set of $2.5 Indians in a capital plastics holder where they have been in my bank until now...

I agreed to buy a set for 10K form a "friend" who had bought them from an estate. When it came time to do the deal, I looked at the coins and what the $%#&*! I said I remembered them in a black holder and in better shape. Now I find out that there were 2 sets and the first set, the one that got me worked up, he said had already sold. I was not happy. The second set was not at all like the first. Each coin in the first set had had rich luster, so I remember... The second looked about AU at first glance. I offered 7K and he came back with 7.5K. It was housed in a BLUE capital plastics holder and I had to try to grade the coins on the fly. All I really focused on was the 11D. It had the wire rim that is diagnostic of the real deal so I was okay there and look to be a AU-58 or MS-61 or 62. Now almost 10 years later I finally decided to find out how I had done with my pig in a poke. I took all the coins to the Dallas ANA for NGC to grade but only PCGS was doing "on-site" grading, so I submitted the 11-D and 14 to PCGS and sent the rest to NGC. I guess it was not a bad deal after all.

To see the entire set go to http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=188559

I had a total of 5 out of 15 come back "improperly cleaned" and after careful review I actually agree with 4 of those 5. the 5th coin will go to PCGS or I will just sell it raw.

Here is the run downof the original 15 coins is submitted:

1908 AU "improperly cleaned"

1909 AU "improperly cleaned"

1910 MS--62

1911 MS--61

1911--D MS--61 (PCGS)

1912 AU "improperly cleaned"

1913 AU--58

1914 AU--58 (PCGS)

1914--D AU "improperly cleaned"

1915 MS--62

1925--D MS--62

1926 Unc "improperly cleaned"

1927 MS--63

1928 MS--64+ (of course the most common date)

1929 MS--62

What does the term "buying a pig in a poke" refer to? The word poke means bag and if I am not mistaken, the phrase is English and refers to the open markets were one could by a piglet in an unopened bag. The term came to connote buying something without knowing what you're getting because crooked farmers would substitute a cat or dog which had little or no value as consumable meat for the pig.


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