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I have seen enought to know I have seen too much!

Started by DC Dawg,

31 posts in this topic

DC Dawg

DC Dawg

Posted
Posted

My first reaction when I saw this was :o !!!!

 

I understand the TPGs want to make money. I also know that the top top TPGs are in serious competition where one does something seen as gaining a competitive advantage, the other follows (see PCGS Reinforces Rules for Suspected “Doctored” Coins as an example).

 

HOWEVER, this one is now bordering on the ridiculous. PCGS is now offering certification for rolls of coins. I am not kidding... although I wish I was. I found this at ModernCoinMart.com:

 

d_4598.jpg

 

d_4599.jpg

 

At least they could give the rolls an average grade and line up the edge lettering! :tonofbricks:

 

Scott :hi:

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MAULEMALL

MAULEMALL

Posted
Posted

Well I kind of get the feeling that these may have been a part of a bulk order and instead of achieving a certain grade they probably were tubed and returned..

I think personally that (and anyone who knows me knows it pains me to say it)Pcgs may be in the right. I would prefer that they tube and assign some type of grade on mine if I were to send them in.

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gmarguli

gmarguli

Posted
Posted

Yep, ICG did this. It's pathetic. It's really scraping the bottom of the barrel. It's actually embarrassing. What's next, certifying coins taken from Salvation Army cans during the holidays and giving them special provenances?

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ant

ant

Posted
Posted
Yep, ICG did this. It's pathetic. It's really scraping the bottom of the barrel. It's actually embarrassing. What's next, certifying coins taken from Salvation Army cans during the holidays and giving them special provenances?

 

:o

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Conder101

Conder101

Posted
Posted

Has anyone asked PCGS if these are really one of their products? The labels seem awful chintzy for PCGS and there are problems with the logo on the back label. It doesn't quite match the logo they are using. (And I don't just mean the fact that the double eagle isn't there.) The holders seem odd as well. And why haven't we heard about this for almost a year? ICG did create sealed rolls back when the presidents first came out, but I knew about them right away. Where have these been hiding? I suppose it is possible that one bulk submitter made a special deal with PCGS to do this and he has been stockpiling them until now so he can offer the whole year at one time. If these are real I don't see them as anything but a novelty type holder.

 

One thing that does tend to indicate that they are legit is the principal of this company. ModernCoinMart is part of John Maben Rare Coins. John is well known in the industry, A life member of the ANA and a member of PNG. And until June of 2004 was Executive VP of NGC. He is also an authorized PCGS dealer. Just the kind of person who could have a "special deal" done for him

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shirohniichan

shirohniichan

Posted
Posted

What's next, certifying coins taken from Salvation Army cans during the holidays and giving them special provenances?

 

Great idea! What an economic boon that would be to special provenances like Nunavut. (thumbs u

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ant

ant

Posted
Posted
What's next, certifying coins taken from Salvation Army cans during the holidays and giving them special provenances?

 

Great idea! What an economic boon that would be to special provenances like Nunavut. (thumbs u

 

the robin hood variety!

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wayneherndon

wayneherndon

Posted
Posted

Conder101,

 

The first promotion of them I saw was from Tulving so figured he was the guy that got PCGS to do it. Tulving was wholesaling them to dealers on CCE a few weeks ago. I'd suspect Maben got them from Tulving.

 

WH

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Conder101

Conder101

Posted
Posted

Wayne, Thanks for that information. You wouldn't happen to know what he was wholesaleing them for would you? (just out of curiosity, I've already ordered a roll for the reference set.)

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EZ_E

EZ_E

Posted
Posted
What's next, certifying coins taken from Salvation Army cans during the holidays and giving them special provenances?

 

Witty! :signfunny:

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michael

michael

Posted
Posted
One of the Home shopping programs is selling tubes of Pres $1 with ICG label stating FDI MS68 or better.

 

FDI= Fleur D'Ignorance?

 

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

 

oh my

 

my my my my my my my my my my my my my my .................

 

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

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BillJones

BillJones

Posted
Posted

If this really is a PCGS product, it is sick. :insane: Many years ago there was a "coin investment house" in Boston that ran a scam that looked like this. The guy sold "investment rolls" of "BU" Morgan silver dollars. The rolls were sealed, and the buyers were not permitted to open them. If they did they would void the "market based" buy back program this outfit said it ran.

 

To make a long story short the only "BU" silver dollars in the rolls were the end coins. All the pieces in the middle were circulated.

 

I have no doubt that all the coins here are Mint State. The things are as common as mud in BU. But this is still a cheesey looking mess. If PCGS is doing this, it is not good for their numismatic image. hm

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James_OldeTowne

James_OldeTowne

Posted
Posted
If PCGS is doing this, it is not good for their numismatic image.

 

Looks like PCGS is in deed doing it.

 

***January 2008 - PCGS begins certifying rolls of coins***

I am having a hard time trying to think of anything dumber that I've ever seen put out by PCGS.

 

Seriously.

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