Overgraded NGC Binion Peace Dollar

[jerseycat10]

Teletrade has the following Binion Peace Dollar listed for auction.

 

A few days ago, an esteemed forum member won a 66 Binion (not this one) on eBay for a rather attractive price, and some members (myself included) cautioned in general regading the overgrading of Binion Peace Dollars.

 

As such, I would like your opinions regarding the coin pictured and linked below.

 

 

http://teletrade.com/coins/lot.asp?auction=3222&lot=1817&nextlot=1&imagetype=j2

[Dudley the 1st]

From the photo's provided I would conclude this coin is over-graded by at least one grade. The Strike seems very soft for me to agree with that assigned grade.

[MarkFeld]

If you wanted objective opinions, you should have presented the coin differently - without using the word "overgraded" in the thread title and without reference to a different Binion coin, which was thought to be over-graded.

 

Edited to add - and the image stinks.

[jerseycat10]

If you wanted objective opinions, you should have presented the coin differently - without using the word "overgraded" in the thread title and without reference to a different Binion coin, which was thought to be over-graded.

 

Edited to add - and the image stinks.

 

Mark, perhaps I didn't conform to strict scientific methods for conducting experiments or surveys, but I think the populus here is professional enough to have an objective opinion on the coin in hand without suffering bias from my verbiage.

 

The image is typical Teletrade quality, but certainly has enough detail to answer the first poll question with certainty, and to make a well educated guess to the 2nd question.

[MarkFeld]

If you wanted objective opinions, you should have presented the coin differently - without using the word "overgraded" in the thread title and without reference to a different Binion coin, which was thought to be over-graded.

 

Edited to add - and the image stinks.

 

Mark, perhaps I didn't conform to strict scientific methods for conducting experiments or surveys, but I think the populus here is professional enough to have an objective opinion on the coin in hand without suffering bias from my verbiage.

 

The image is typical Teletrade quality, but certainly has enough detail to answer the first poll question with certainty, and to make a well educated guess to the 2nd question.

 

OK, it looks like a 63 to me, 64 at best. But that tells me the image might be making the coin look a lot worse than it really is.

[RWB]

Too many scrapes on the face and head to be anything better than average -- MS-63.

[mikew148]

I like my 66"s to be free of "tire tracks". (over GOD)

 

I'd say 64 would be generous....looks like 63 to me.

 

Haven't purchased any Binion Collection coins, I'll have a real close look if consider doing so in the future.

[jom]

I voted 63 but Mark is right. If the photo is taken at a different angle it might look better. The key here is the luster. If it it strong then it might even go 65...in fact, the reverse photo sort of suggests it might have some good luster.

 

Whatever the case, 66 is probably too high.

 

jom

[johnny9434]

i went ms 64. jmo

[physics-fan3.14]

I've bought from TT before, and their pictures are typically lackluster. I'm guessing in hand, the luster is blazing - hence the high grade. The scrapes and ticks are too much for me, and the Binion's are almost always overgraded.

 

This coin looks like it is probably a 64, maybe 64+

[James_OldeTowne]

Actually, I voted MS-65, but it's more a reflection of how the TPGs grade these than what I really think it is (which is MS-64).

 

That being said... Binion dollars virtually always seem to be overgraded. I don't know why this particular pedigree gets such forgiving grades, but it wouldn't surprise me at all if many of them are a full two points overgraded.

 

It's my opinion based just on personal experience, though.

[physics-fan3.14]

Yeah, they are mostly overgraded. This one wears a 65*, and while I don't think its as egregious as many of them, a better grade would be 64+*

 

[Dudley the 1st]

Actually, I voted MS-65, but it's more a reflection of how the TPGs grade these than what I really think it is (which is MS-64).

 

That being said... Binion dollars virtually always seem to be overgraded. I don't know why this particular pedigree gets such forgiving grades, but it wouldn't surprise me at all if many of them are a full two points overgraded.

 

It's my opinion based just on personal experience, though.

 

 

I agree. Personally, I would not consider paying 66 or 65 values for this piece, provenance and all. I too voted for a 65 grade, but reserved the right to bump that back a grade.

[zboyle04]

the one i got may be overgraded, but it is better than that one i woulddnt pay much more than $350 for the binion ones at MS66, having looked at as many as i could, a lot of them do seem overgraded, probably to justify the creation of the various coin sets, presitge set, classic set, etc...

[coinman_23885]

the one i got may be overgraded, but it is better than that one i woulddnt pay much more than $350 for the binion ones at MS66, having looked at as many as i could, a lot of them do seem overgraded, probably to justify the creation of the various coin sets, presitge set, classic set, etc...

 

I mean this in a "trying to be helpful" sort of way and not in a "jerkish" way, but I would consider sending your coin into NGC to invoke the guarantee. They would probably reholder the coin (with the Binion pedigree) with a lower grade and reimburse you the difference. Again, please note that I don't mean this in an offensive way. While I think your coin is likely superior to this one (if the images are accurate), I think you will be buried in your coin. With this said, I do like your coin too, but a grade of MS66 is a fantasy grade. This is what I would do personally, for whatever it's worth.

[FishyOne]

I've bought from TT before, and their pictures are typically lackluster. I'm guessing in hand, the luster is blazing - hence the high grade. The scrapes and ticks are too much for me, and the Binion's are almost always overgraded.

 

This coin looks like it is probably a 64, maybe 64+

 

Looks to have virgin frost throughout and could be a 66 IF the luster is absolutley blinding. That's not likely though.

[zboyle04]

the one i got may be overgraded, but it is better than that one i woulddnt pay much more than $350 for the binion ones at MS66, having looked at as many as i could, a lot of them do seem overgraded, probably to justify the creation of the various coin sets, presitge set, classic set, etc...

 

I mean this in a "trying to be helpful" sort of way and not in a "jerkish" way, but I would consider sending your coin into NGC to invoke the guarantee. They would probably reholder the coin (with the Binion pedigree) with a lower grade and reimburse you the difference. Again, please note that I don't mean this in an offensive way. While I think your coin is likely superior to this one (if the images are accurate), I think you will be buried in your coin. With this said, I do like your coin too, but a grade of MS66 is a fantasy grade. This is what I would do personally, for whatever it's worth.

 

it would be worth less as a 65 obviously, there are not that many binion 66's and i know i can sell for more than i got it for if i wanted, but i do not want to sell anytime soon. While we are on topic of the binion hoard. As of now there are only 1922-p and 1923-p peace dollars available, but there has got to be other dates certified. Are they holding them back? Will they be released sometime soon, anyone have an idea? I would love to put together a high grade binion set. I guess most people do not care much for the pedigree, but i think it is fascinating and i can relate a lot to binion and his hoarding of silver, im sure a lot of you can to!