Several years ago I bought this tough 1931-S Lincoln, PCGS 66RD. It was part of the Ron Bozarth collection and it looked pretty spectacular at the time. Recently I pulled it from the safe and noticed a spot had developed on the reverse in a most unfortunate location. What appears to have happened was a doctor treated a distasteful spot, probably carbon, submitted it to obtain a lofty grade, and then moved it along to an unsuspecting buyer (me). Over time a prominent sore developed. I was bummed. So I returned it to PCGS for a "spot review", which is the way you ask them to consider their grade guarantee. And I was glad to hear back that indeed, it no longer deserved a 66RD grade. PCGS will send a check, to cover my cost. But I am very unhappy to have lost a prized coin in my set. The unfortunate truth is that over the past dozen years doctors have been winning. Today the top TPG's are doing what they can to combat them. Sadly, it is collectors who feel the wrath, unhappy with many grading decisions. Next time you get a beloved coin back in a bodybag don't get mad and blame PCGS or NGC. It is the doctors you should despise. They are the reason the TPG's make conservative judgments. They are the reason for "questionable color", "altered surfaces", "cleaning" or "tooling". Coin doctors should be the target of our anger, not the graders. Lance. (Anyone have a nice '31-S red for sale?)
That's a shame Lance, but there's no way you could have known that it was doctored. You make a good point about the TPG's being very careful about questionable color or altered surface issues. They have to protect themselves from these types of things so they reject anything that looks the least bit "off." Thanks for the post. You've given us all something to think about when we consider buying coins. I know you're disappointed, but you still have a beautiful Lincoln there. Bruce
Good question. I wasn't interested in keeping it so I didn't ask. I just heard "In reference to submission #4430xxx unfortunately your coin, a 1931-S 1c, did downgrade. We can offer to buy back the coin for $x,xxx. Please let me know if this will work for you." Lance.
Very interesting....what a bummer! So there was no indication of anything there at all and then it turned black? What about the black spot above the head?
Aww, that must suck!! I bet that was a high point in your collection. How long did it take for the spot to appear? Was it overnight, or much longer?
Neat story, I never knew that you could do such a buy back. Learned something new today, but the question is, what did I push out of my brain with something new?
There was a subtle spot on the reverse when I bought it three or four years ago. Lighter in color than the surrounding area but it blended and was not visually distracting. Over time it appears to have grown and darkened. All my better coins are properly stored in a low humidity climate, in Intercept boxes. I haven't had problems with spots developing. But obviously something remained on this coin before it was slabbed. It is for reasons like this that many collectors prefer old holders. Some people point to tighter grading long ago (I figure most rattler coins that were undergraded have been sorted out). But coins in older holders are more likely to be stable. If something bad was growing it would likely have shown up after 10+ years. Yes, texmech, the best TPGs have grade guarantees, and getting a "spot review" is a free service. If the coin is overgraded they'll keep it and pay you for it. Or, at your option, they'll send a check for the lost value between the old, better grade and the new, lower one and return the coin in a new holder. PCGS has terrific at backing their guarantee. Not to pick on NGC but for some reason I've been frustrated there. Thad, the other darker spots seem unaffected. You noticed the spot atop Lincoln's head. There's another smaller one near the MM. Tiny flecks on copper is something you come to accept. But sometimes a spot is in a prominent location and your eye is drawn to it. Then it can lower the coin's value and its (market) grade. Lance.
That coin could have been sneezed on before encapsulation. I see a spot but what makes you say it has been doctored?
Who knows what originally caused the spot? Maybe it was an airborne contaminant. The few copper experts I talked to agreed that it was treated somehow. PCGS seems to agree. Naturally occurring spots, like those on the obverse, do not normally affect much of the area immediately around them. They can grow, sure. But they don't discolor and lighten the surrounding surface. Lance.
Lance, do you know what PCGS does with the "doctored coin"? Do they conserve it? Trash it? Put it in a new (downgraded holder) and try to sell it?
At least pcgs made you whole. I believe in grading by photographs qdb said be suspect of any red copper coin earlier than 1934. The number of reprocessed red coins by far outnumber original red even coins in plastic.
Green, that is an excellent question I would like to know the answer too. PCGS and NGC buy back these coins but then what? I would guess they are reholdered at appropriate grades and then wholesaled them to friendly dealers. Surely they don't trash them. There are buyers for problem coins, ready to snap up them up at discounts. But I'm just guessing, really. My advice is avoid problem coins. Trouble-free coins will always sell well. Problems will never be worth much. Lance.
You know I've read that too. Much as I worship QDB some things he says don't jive. I get that most copper browns as it ages. But there are so many tens of thousands of 100 year old red cents that I just don't believe every one of them has been "processed". You can buy an OBW roll of 60 or 70 year old cents and virtually every one is like new. If they're stored properly I see no reason why they can't stay red. Lance.
I just now got a message from PCGS customer support with the grade results for this '31-S. PCGS "genuined" it, code 91 (questionable color). That's pretty cool. They body-bagged their own coin. And it was the right thing to do. Lance.
