How in the H did this get a PCGS65??

[azmorganman]

Here!

Really makes you wonder about these guys. I wouldn't even have submitted this coin. I see at least 5 significant dings on the obverse. And I get common dates back from them at 63 when it should be an easy 65!! Never again. Will send out my first coins to NCG tomorrow. I have yet to see an NGC slab with this kind of gross miss-grading.

[Leothelion]

Check this one out! At first, the auction pic fooled me but when I got it....ouch!This gem resides in a pcgs ms65 holder. Depending WHEN this coin was slabbed, I can understand a carbon spot forming while in a slab but chop marks? What's mind boggling is that 3 $250,000/year professional graders came up with this grade for this coin but fortunately the seller refunded 100% including postage.

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Leo

[dragon]

To be fair and give the benefit of the doubt to both PCGS and the seller, some pics can make the coin look better than it actually is, and some look much worse....however that piece certainly doesn't look anywhere near a 65 from that pic. There are also plenty of misgraded and overgraded coins in NGC holders too, not just PCGS.

 

dragon

[Leothelion]

Assuming the pic is accurate, that there are five distracting marks on the obverse, I'd say the buyer paid 10X what it's worth. It's likely the buyer is a newbie and has little experience in grading coins. The seller is a dealer and submits regularly and since the so-called bull market is hot, this coin can easily be absorb into the market, that's why it was slabbed.

So later on down the line when it comes time to resell this coin and the market is not so hot anymore. Well, let's just list how many ways a dealer can say, in other words that, "you got screwed!"

 

"You paid too much for this coin!"

"This coin really grades about MS62!"

And the all-time favorite, " I'll can only offer you $8.00 for your coin."

 

Leo

 

[azmorganman]

Well at least you have to give the seller credit for posting those oversized pics. He knew it was a lemon and didn't want it comming back. Looks like he's been selling on Ebay long enough to know W C Fields was right! BTW nice Jeffy you had there. Are these guys really making 250K a year? Is that before or after tips?

 

 

P.S. Regarding the pics again- I'm sure they are accurate. I wouldn't let a pic like that out if it was lighting, holder or whatever that showed dings that weren't there. Right now good clean PCGS/NGC MS 64 and up morgans are being snapped up at retail. And the dogs as well I guess.

[Leothelion]

Well at least you have to give the seller credit for posting those oversized pics. He knew it was a lemon and didn't want it comming back. Looks like he's been selling on Ebay long enough to know W C Fields was right! BTW nice Jeffy you had there. Are these guys really making 250K a year? Is that before or after tips?

 

 

P.S. Regarding the pics again- I'm sure they are accurate. I wouldn't let a pic like that out if it was lighting, holder or whatever that showed dings that weren't there. Right now good clean PCGS/NGC MS 64 and up morgans are being snapped up at retail. And the dogs as well I guess.

 

There must be some kind of giant Whitman slab folder out there, being sold on the second market, that I don't know about. What are they using to push these slabs into the rectangular holes... a rubber mallet?

 

Leo