Altered/Damaged NGC Hologram? 1 1

[EagleRJO]

I just purchased an 1850-O Seated 50C which was supposed to be NGC certified, but when I received it the hologram on the reverse side had what looked like whiteout over the hologram ... see pic.  It's not on the outside of the holder, so I really don't know what the heck it is or why that was done, as it does appear to be an intention up and down cover up.

I checked the original listing and of course they have the full obverse holder and then cropped pics of the obverse and reverse coin, but no pic of the full reverse holder, which now I understand why.  It's going back as not having an unaltered or undamaged NGC holder as expected from the listing, but I am just curious why that was done or what happened to the holder if unintentional, however unlikely.

Edited August 11, 2022 by EagleRJO

[J P M]

Sometimes the holograms wear off or if someone used a harsh cleaner it may have removed it.

[RWB]

Please post your photos of both sides.

The reverse photo has darker areas above the white -- as if the white is casting a shadow.

[VKurtB]

Is that a very mirrored field? This photo presents more questions than answers. 

[The Neophyte Numismatist]

In many cases dealers/auctions put their sticker in this area leaving a residue.  Perhaps this one was scrubbed after a large sicker was removed.  I have seen many like this. 

[EagleRJO]

On 8/10/2022 at 8:48 PM, RWB said:

Please post your photos of both sides.

The reverse photo has darker areas above the white -- as if the white is casting a shadow.

I changed the photo to show both sides of the holder.  Holding it and tilting it under a light didn't reveal any darker areas, just the obscured hologram.

On 8/10/2022 at 9:21 PM, The Neophyte Numismatist said:

In many cases dealers/auctions put their sticker in this area leaving a residue.  Perhaps this one was scrubbed after a large sicker was removed.  I have seen many like this. 

It may very well be a sticker that someone put on it and scraped off which damaged the holder.  I just have never seen something like that as I am mostly collecting raw coins.  I swore it was whiteout when I saw it, but there was nothing on the surface.

[VKurtB]

It’s a shipwreck coin. Answers are starting to arrive. 

[EagleRJO]

On 8/10/2022 at 10:02 PM, VKurtB said:

It’s a shipwreck coin. Answers are starting to arrive. 

Well, I didn't also want a shipwrecked holder. 

[I am probably going to do a pre-1933 half dollar one-per-year set because I like the 50C coins and have a few already.  I thought it would be interesting if the set included one of the shipwreck coins, so when I saw one for a good price I got it.  Now I know why it was such a good price, and I should have just gone to the FinestKnown.com link in the write up of the wreck which still has some of these coins NGC labeled, although I didnt like the dark blue holder as much.]

Edited August 11, 2022 by EagleRJO

[Coinbuf]

That blue insert is hideous. 

[VKurtB]

On 8/10/2022 at 9:36 PM, Coinbuf said:

That blue insert is hideous. 

Hideous is a bit strong, but it’s not attractive at all. Agreed. 

[The Neophyte Numismatist]

On 8/10/2022 at 10:04 PM, EagleRJO said:

...I am probably going to do a pre-1933 half dollar one-per-year set because I like the 50C coins and have a few already.  

1794 -1933 date set?

[Lem E]

On 8/10/2022 at 9:36 PM, Coinbuf said:

That blue insert is hideous. 

Switch out that blue core for a black one and I think it would look sharp with that label. 

[EagleRJO]

On 8/10/2022 at 10:43 PM, The Neophyte Numismatist said:

1794 -1933 date set?

Maybe, although the very early ones (1794-1806) even in VF/XF can be costly.  So, I might just do 1807-1933 and maybe if I hit the lottery get the earlier ones. 

[The Neophyte Numismatist]

That would be a tough set for sure!  Good Luck and keep us posted on progress.

[Mr.Bill347]

It’s a beautiful coin just the same! I was looking at those last week. Rick Harrison said “ the problem with shipwreck coins is that someone may find more of them reducing value “

it appears to me that someone scraped off a label. Can you physically feel the scrape?

Last week I was looking at an 1853 but so many fakes are out there. At least you know it’s real.

 

[Sandon]

   Many, many certified holders have had their back labels/holograms damaged or detached by dealers' price and inventory tags, especially holders that have been around for some years like this one.  It should have no bearing on the authenticity of the holder or the grading service's guarantee.  The fact that the coin has been in a dealer's inventory at least suggests that it isn't a newly made counterfeit holder containing a likely counterfeit coin.  (For what it's worth, it checks out on NGC Certificate Verification.)

   It's a matter of taste, but I don't know why anyone wants these saltwater damaged and abrasively "conserved" coins, especially at the premium they command!

[The Neophyte Numismatist]

On 8/11/2022 at 10:57 AM, Sandon said:

It's a matter of taste, but I don't know why anyone wants these saltwater damaged and abrasively "conserved" coins, especially at the premium they command!

Two reasons

1. The story - sunken treasure will always have the appeal of lore.  Images of peg leg pirates with eyepatches fill the mind of the collector.  In this case, the story is not of pirates, but of a Confederacy trying to move hard capital during the US Civil War.  
2. The price - Shipwreck coins can be had at more reasonable costs than straight graded coins.  However, the "problems" that these coins have are a part of the story.  They do carry a premium over other problem coins, but since the problems align to a historical event (not just a quarter found on the boardwalk) it does make a little sense.

Personally, I would not mind having one as an example.  I don't think I would start a collection of them, but they are a nice accent piece to a collection.  

Edited August 11, 2022 by The Neophyte Numismatist

[VKurtB]

On 8/10/2022 at 9:43 PM, The Neophyte Numismatist said:

1794 -1933 date set?

He should swing for the fences and include a gem 1933-D half dollar - the 1933-D Oregon Trail Commemorative. 

[EagleRJO]

On 8/11/2022 at 10:57 AM, Sandon said:

 t's a matter of taste, but I don't know why anyone wants these saltwater damaged and abrasively "conserved" coins, especially at the premium they command!

I agree it is a matter of taste.  I just find them interesting enough to get one to put with my other half dollars if at a reasonable price, and prices seem reasonable versus what I image was an initial craze.  My brother used to dive on deep/older wrecks specifically to look for artifacts/coins, and some I could barely recognize, but they were still cool.  The almost completely washed-out appearance of some really isn't for me, and I prefer one that has a little more detail if it's only a little more.

On 8/11/2022 at 8:16 AM, The Neophyte Numismatist said:

That would be a tough set for sure!  Good Luck and keep us posted on progress.

Yea, even a 1807-1933 one-per-year half dollar set would be tough and take time, so I'm not sure yet other than picking up one I like occasionally if I find it at a reasonable price, keeping the set possibility in mind.  I am pretty focused on my complete circulated Morgan set for now, but I might switch gears once I get to the point where I have to just be really patient to plug more expensive holes in that set.

[EagleRJO]

On 8/11/2022 at 1:59 PM, VKurtB said:

He should swing for the fences and include a gem 1933-D half dollar - the 1933-D Oregon Trail Commemorative. 

Yea, I have a feeling that one will be a 1933-S half dollar as there are plenty of other early year ones where there aren't many options to avoid a more costly coin. 

On 8/11/2022 at 8:57 AM, Mr.Bill347 said:

Last week I was looking at an 1853 but so many fakes are out there. At least you know it’s real.

I go for mostly raw coins, but that is one coin where I am definitely getting a slabbed one.  I understand NGC required a certified provenance for the coins to label them "SS Republic - Shipwrecked".  I'm sure there are a bunch of scammers out there taking common period details coins and subjecting them to some kind of corrosive/abrasive abuse, and bingo a "Shipwrecked Effect" coin to add to their "Nice Details" coins.     

Edited August 24, 2022 by EagleRJO