How the heck is this coin an MS-63 ?!?

Probably not worth it to counterfeit a slab for this coin. The coin itself certainly appears genuine.

My only guess is that the grader did not bother to inspect it under magnification (or closely at all), as is necessary with assigning MS grades.

 

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The tpgs keep slipping and slipping , buy the coin not the holder .

 

Doug , It keeps getting worse every year , I'm sure you see it . Coins such as these are commonplace in NGC and PCGS slabs , though still better than the others I give them a couple more years before they wreck it for themselves by this over grading .

 

Definitely damaged coin, could be a fake slab ?

I also agree with the annoying background of the auction page, I could not see it more than a couple of seconds!

 

The picture at the NGC certification site is a much nicer coin. I'm not saying that the slab is not legit. I'm suggesting that the photo is not flattering.

As an aside, the NGC census is as follows:

66 : 3
65 : 28
64 : 119
63 : 126
62 : 61
61 : 12
60 : 1
58 : 14
55: 4

:dead-horse: Pictures can be deceiving.


guy

 

I suspect the coin is actually more attractive than the photos would indicate. The reverse in particular looks like it is a semi-proof cameo. Pretty much a bullion coin in MS63 even if the coin was nicer. Maybe worth $25 more if were MS65. The mintage of the 1882 being something in the area of 8,000,000 if memory serves me, making it one of the most common 19th century bullion coins out there. The real question to me: Why would anyone waste their money getting this coin slabbed to begin with??

 

I agree it didn't make sense when gold was under $500 per ounce.

Now, however, there are several good reasons:

_Coins are easier to flip on Ebay or elsewhere after they have been slabbed.
_There is always that potential for a bump up if it grades really high.
_It costs less than $17 to slab world gold. Sometimes there have been specials of $12. That is less than 5% on this bullion coin.


guy

 

Have to disagree with you there, --the coin sold for $338 which is $1800 an ounce gold. If you take the $17 grading fee and factor in prorated shipping and insurance charges to and from NGC, the cost becomes close to $20 even with a couple dozen coins submitted. Subtract eBay commissions and PayPal vigorish, and pretty soon the coin has really only fetched 338-20-32-12 = $274 BUT Wait!! The seller also offered free shipping in his auction, and to avoid a PayPal charge back he would have had to insure it even if it does only weigh 5 grams.,,, So now we deduct another $3.75 for a grand total price realized of $270.25 --or-- the equivalent per ounce price of only $1447 which is way WAY below melt. Pure lunacy to send the coin in, even if it came back MS68 the chances of making any money are almost zero. While it's true some collectors will pay a modest premium for a slabbed bullion coin on eBay, it's not enough to offset the cost. As for dealers, they won't pay an extra penny for a bullion coin that's slabbed, and many would even crack the coin out.

 

I am not afraid to say this. Not going to go into any detail, but I have had a negative experience with this seller.

 

I read this entire thread and you are the only person that appeared to recognise that the coin was in a slab that may be scratched. I can not believe what some folks on this thread have said about this coin when they have no idea of what it may look like if it was removed from the coin slab and looked at in hand . how hard would it be for a plastic coin slab to get lots of scratches on it? I have a hard time of keeping mine from getting scratched and blury looking. some folks will never learn and rant and rave about anything , just human nature IMO.

 

I have a bottle of stuff that is some sort of clay suspension, it's a thick liquid that you put on slabs then polish and it removes all the scratches and abrassions. Works like polish and really does a super job, especially on PCGS holders which are a softer plastic. Works on NGC too but it takes more work since the plastic is harder. I forget the name of it, can post later if you're interested.

 

It's pretty clear when analyzing it closely that the scratches are on the coin and not the holder. The second set of pics also shows that the coin is in a very fresh holder.

 

I think I may know what you are writing about . I have something like you are describing that has diamond dust in it and does a good job and is faster if you use a dremel with a polishing pad and coat the pad with a tiny bit of the solution. you can get the type I have off ebay , I think the way I found mine was to type in polishing compound in the search place on a ebay page. Thanks for giving us this information , this will be helpful to a lot of folks.

 

I went and looked at this sellers feedback that sold this coin. I could not believe my eyes when I read why some dummys left him or her negative feedback. when it get's to where we can not sale even graded and slabbed coins on ebay without getting a negative feedback we need to stop paying to have our coins graded for our customers. here's one of the auctions this seller received a negative for and the other negatives were almost the same,ebay needs to remove these and they will if this seller asks them to do it because they are bogus. notice where the devilish buyer said the seller had a 7 day return policy then read the sellers description.
http://www.ebay.com/itm/160700294910

 

The whole eBay feedback system, as often discussed here, is grossly flawed. Never the less, I'm of the opinion that the buyer should have return privileges regardless of whether the coin is slabbed or not. There are simply too many ways to enhance photos to make anything seen on eBay (or any other site for that matter) the end-all representation of what a coin looks like regardless of whether it is in a slab or not. As for eBay removing the feedback, highly doubt they will do that. I received negative feedback several years ago on a slabbed coin followed by the buyer demanding a partial refund if I wanted the feedback removed. I complained to eBay that I was a victim of feedback extortion, and eBay's response was that it's only feedback extortion if the demand for compensation is made BEFORE the feedback is left, not after. That was a very dumb answer on eBay's part and cost them several thousand dollars income over the following 18 months because I didn't list a single item on their site. Personally, I much prefer eBid to eBay, -at least as a seller- I only wish it would develop a little more solid following by collectors and bidders. Takes forever to sell stuff there but they have it set-up much like eBay was in the good old days; -with the seller in control of his listings and in control of the terms of payment etc.

 

a coin with no wear rates a MS grade even if all dinged up. lots of old gold is. an AU grade means wear, bagmarks/dings don't mean it's not UNC. that coin should get a 60-61 anyway, IMO

 

you are mistaken thats a solid 63. The tpg scale now goes to a hundred. most coins start at 60