Plain Edged Presidential Dollars

[Mokiechan]

Some Interesting Research

 

Folks,

I ran across a very interesting article from Coin World about Mint Police Officer theft of edgeless Presidential Dollar:

 

http://www.coinworld.com/articles/where-...urce=OB_traffic

 

The article analyzes the current numbers of coins certified by NGC, PCGS, and ANACS while also attempting to discern how many were stolen and when? Good Stuff!!

 

Malcolm

PS-not affiliated with Coin World in any way, shape, or form.

 

See more journals by BeawChan

[coinsbygary]

Very interesting, I own a PCGS version of the Washington missing edge lettering and wonder if it's legitimate or stolen. Kinda of reminds of the old Memorex commercial, is it live or is it Memorex? It would be fascinating, should anybody discover identifying diagnostics to differentiate between the two. Since I own the PCGS graded error, I wonder if there is a link between the coin dealer in California and PCGS since they are both based in California. I'm not implying PCGS did anything wrong, but I wonder if that still unidentified coin dealer submitted the stolen coins to PCGS unaware. All of this so far is interesting speculation that may or may not substantiated in time. Oh well, here I go jumping into conspiracy theories.

Gary

[jayman1970]

From the large number of coins that this dealer bought,you would think he might wonder where they were coming from.I can see maybe finding a lucky roll,but not thousands!

[Ultra Cameo Collection]

Greed has a way of distorting your morals. There might be a chance that the dealer was very uneducated or ignorant and believed that he was doing right. A good deal is a good deal but at a certain point you have to ask where,why, and what?

[mailman1959]

If they can prove the coin dealer sent in certain coins (ie) certification numbers, those coins should be removed from their database. There should be a list of cert. numbers posted online to alert potential buyers. Any sale of those coins should be reported so they can be confiscated, for the "good" of the hobby, not to mention they are actually "fake" coins. Just my opinion, don't hate the MAILMAN, good luck in your collecting adventures.

[Chris1976]

Even if they list cert numbers, a simple crack and send would put it back into a viable holder again as it would no longer be under the old cert number. And since each coin isn't individually serial numbered on the coin itself, there would be no way of knowing if it was one that had been taken by the guard or not. Unfortunately, there really is no simple solution to determine which coins are and are not from the groups that were taken.

[Mokiechan]

In the end, at least for us collectors, it probably is moot. Worst that can happen, NGC comes up with a new labels for the "Officer Released" and "Mint Released" versions so tons of folks will crack out their confirmed (by having been submitted by the unnamed Cali dealer) serial numbered slabs to get the new Officer Released label.

 

Government is going to make no effort to call them back. Dealer and Officer will share the 2.5 million dollar fine.