OK, I understand Greg's explanation of certain CHEAP coins in slabs, but THIS?!?

[James_OldeTowne]

In another thread, Greg explained how it can happen that a $2 coin can end up in a $12 slab, and it made sense. Addition of a coin, any coin, can tip the quantity of coins submitted in favor of a discounted volume price. But check these out (NGC submissions):

 

This 1893 Indian Head cent CAN'T be worth more than $.50. Why in the heck would anybody submit it? Even if the obverse booger could have been removed, it would still be worth a dollar max!

 

More lunacy here!

 

It seems to me that NCS should draw a line at some point and bodybag coins that are too ridiculous to be certified.

 

James

[RGT]

Does TT take raw coin consignments that are sent off to be graded before being auctioned? If so, perhaps this one slipped in a submission somehow and got processed along with the rest.

 

If that's not the case then I'm as puzzled as you.

[Leothelion]

Man! Don't you recognise the 1893 blob head cent when you see one?!?

Seriously, it's a, "someone didn't stop here and ask" kind of thing! Otherwise, the coin would have never been slabbed! Or it's a "send it to a TGS and then sell it", After all. that's what TGS do, "slab dealer's junk to get it sold". Dealers must be having a hayday with selling junk. I wouldn't be surprised if the public was buying fools gold these days. They're certainly buying fool nickels!

 

Leo

[gmarguli]

These submissions could have happened the same way. You can submit raw to TT and have them slabbed at a discounted price. You do need a minimum number of coins. These could have been added to meet that minimum. The coins were submitted by the same person (same invoice number on the slab).

 

Also, when you join the NGC Collectors Society they give you a coupon for free grading / conservation at NCS. It's something like submit 2 and get 3 free (I don't remember the exact specifics). It's possible that these were submitted just because they were freebies.

 

As for what NGC / NCS should slab? NGC bodybagged my rectangle coin without providing a true explanation. It was a legit coin and I thought it should be slabbed. After all, they grade mint-colorized coins. I had though about submitting an elongated coin to NCS for slabbing. I thought it would look neat in the slab, but I've resisted doing it for now.

[JamminJ]

NGC bodybagged my rectangle coin without providing a true explanation. It was a legit coin and I thought it should be slabbed. After all, they grade mint-colorized coins.

 

Is this the infamous Tonga coin? If so, you really should post a picture to share its magnifigance with the forum.

 

-JamminJ

[James_OldeTowne]

I can understand the whole volume-discount thing, but jeez, I'd rather have NGC certify a 1992 Jefferson nickel in MS-61 than a really crummy (maybe even crumbly) Indian cent in damaged low grade!

 

But my point is, I don't think it's particularly positive for NGC's image to have really awful coins like these in their slabs.

 

James

[gmarguli]

Is this the infamous Tonga coin? If so, you really should post a picture to share its magnifigance with the forum.

 

It is a stunner.

 

 

I had plans on getting the proof version also and having them both put in one of those multi-coin slabs, but NCG crushed my dreams of having that happen.

[Hoot]

Pehaps you should submit it as a clipped planchet error? They probably just thought it was one of those cheesy silver bars that you can buy in most coin establisments.

 

Hoot

[gmarguli]

But my point is, I don't think it's particularly positive for NGC's image to have really awful coins like these in their slabs.

 

I somewhat agree. However, NGC (and others) offer a service. Do we really want them making statements about what belongs in a slab? NGC did this early on with moderns and it cost them dearly. They took what they viewed as the high road and it cost them millions if not tens of millions of dollars.

 

Personally, I'd be rather offended if they sent one of my coins back with a note saying that it was beneith them to certify it because it was so awful. I don't think I'd be sending them many more coins after that. And really, most people looking at this coin are asking "What was the submitter thinking?" and not "What was NGC / NCS thinking?".

 

There is also another possibility as to these coins. The coins could have been sent in as varieties and they turned out to be normal coins. I have sent in coins to ANACS that I thought might be rare varieties I found while cherrypicking. Sometimes I hit the jackpot. Other times I have had common date coins in really low grades in ANACS slabs which catalog for less than $1.

[gmarguli]

Pehaps you should submit it as a clipped planchet error? They probably just thought it was one of those cheesy silver bars that you can buy in most coin establisments.

 

Hoot

 

I'm going to corner Ken Krah at the next show he attends and ask him why they refused to certify it. They've put square coins in slabs for me, so why not rectangle?

[JamminJ]

I'm going to corner Ken Krah at the next show he attends and ask him why they refused to certify it. They've put square coins in slabs for me, so why not rectangle?

 

Please find me before you have that conversation. The entertainment value should be priceless!

 

-JamminJ

[JamminJ]

 

Behold the King of Koins!

 

-JamminJ

[James_OldeTowne]

If I didn't know any better, I'd swear I could peel the foil off that thing and have a milk-chocolate bar for snack! Snickers anyone?

 

(((There is also another possibility as to these coins. The coins could have been sent in as varieties and they turned out to be normal coins.)))

 

I considered that possibility, too. I just think an appropriate response on NGC's part might be to tell the submitter "Hey, the value of this coin is significantly less than the cost of certifying it. Are you sure?" If anything, it might be a real class touch of customer-service to save a customer some bucks - money that could be used on future submissions!

 

James

[Leothelion]

Hey! Believe it or not! I did a history report on the Tonga islands back in HS. The guys would chant TONGA! TONGA! TONGA! as I read my report aloud up in front of the class! Man I hated that!

 

That was over 30 years ago, by the way!

 

Leo

[TomB]

Personally, I'd be rather offended if they sent one of my coins back with a note saying that it was beneith them to certify it because it was so awful. I don't think I'd be sending them many more coins after that.

 

That actually happened to me with PCGS! A few years ago I sent in 14 stunningly toned coins and they graded them all except for one. The coin they bagged was a common date Peace dollar with unusual toning. In my submission I specifically included a Washington quarter with identical toning and they slabbed the Washington.

 

I brought the coin with me to the PCGS booth at FUN and their customer service representative literally tossed the coin across the table at me and scoffed as he said "Coins don't tone like this". He was rather surprised when I produced the matching, PCGS slabbed Washington. He took the coin and told me to call PCGS on Monday after the show.

 

I called Monday. He didn't remember me. I refreshed his memory. He said it wasn't done yet and to call back tomorrow.

 

I called Tuesday. He didn't remember me. I refreshed his memory. He said it wasn't done yet and to call back tomorrow.

 

I called Wednesday. He didn't remember me. I refreshed his memory. He said it wasn't done yet and to call back tomorrow.

 

He then put me on hold and when he returned he sarcastically told me that PCGS would be very happy to slab the coin for me if I would like to have it professionally dipped white and then resubmitted.

 

I complained to PCGS about him and they told me that they had a number of similar complaints about him yet they kept him in customer service!

[jom]

I complained to PCGS about him and they told me that they had a number of similar complaints about him yet they kept him in customer service!

 

Not to worry, I heard they promoted him to President and CEO a number of years ago.

 

jom

[Wihlborg]

 

John

[Leothelion]

Would his name happen to be CHARLEY!!! This guy got sarcastic with me by running his mouth with repetative questions. I told him that if he would pause for a second that I'll try to answer his questions as best as I can. Then I asked if there was someone else there I could talk to and he starts apologizing giving some excuse that it was lunch time and I ended up telling him to go to lunch that I would call back later.

When I did call back the few times after that I would ask to speak to anyone but Charley!

Leo

[Hoot]

Pehaps you should submit it as a clipped planchet error? They probably just thought it was one of those cheesy silver bars that you can buy in most coin establisments.

 

Hoot

 

I'm going to corner Ken Krah at the next show he attends and ask him why they refused to certify it. They've put square coins in slabs for me, so why not rectangle?

 

I think you should sell tickets to that event. I'd love to hear and see that conversation. I can only now imagine JamminJ and jom huddled off at a safe distance with special listening and recording equipment.

 

Truly, I think you should send the coin in again and inquire. It looks like an excellent and problem-free piece. Or perhaps, as with Tom's story, you should dip it and submit it to PCGS.

 

Hoot

[Hoot]

 

John

 

I'll second that.

 

Hoot

[Hoot]

I brought the coin with me to the PCGS booth at FUN and their customer service representative literally tossed the coin across the table at me and scoffed as he said "Coins don't tone like this".

 

And you didn't embed the coin in the fellow's (Charlie's?) head? Surprising. That would have been an excellent time to pitch a fit. Oh well, there'll be a next time.

 

Hoot

[jom]

 

I didn't even catch that when I read Tom's post the first time. He THREW and coin across the table?

 

If someone had done that to my coin I would have done some "embedding" with my fist....

 

jom

[gmarguli]

Would his name happen to be CHARLEY!!!

 

That's funny, since Charlie was one of the few people in PCGS Customer Diservice that actually helped me. Their CS dept was basically useless.

[Hoot]

Would his name happen to be CHARLEY!!!

 

That's funny, since Charlie was one of the few people in PCGS Customer Diservice that actually helped me. Their CS dept was basically useless.

 

Quite to the contrary - it's led you in a direction away from them that appears to have been quite fruitful!

 

Hoot

[Leothelion]

Would his name happen to be CHARLEY!!!

 

That's funny, since Charlie was one of the few people in PCGS Customer Diservice that actually helped me. Their CS dept was basically useless.

 

Who knows! Maybe he got himself into one of those "coin anonymous" programs since I've talked to anyone there! It's been a couple of years. And I wish they would stop sending me notices to renew my membership there.

 

Leo

[gmarguli]

It's been a couple of years. And I wish they would stop sending me notices to renew my membership there.

 

I still get those notices. After they cut my paid membership short (I'm sure scumbag David Hall did that) they send me membership renewal notices.