OUCH! PCGS major error and bidders paying top dollar! Dateless 1917 slabbed 1916!

I just saw this 1916 quarter on ebay.

http://www.ebay.com/itm/1916-25-CEN...82?pt=Coins_US_Individual&hash=item27d2f454be

This coin is 100% a dateless 1917 and not a 1916. It has all the 1917 markers with the most prominent ones being the strong shield rivets and the fold line in the scarf of her right arm. This coin is already bid up to $1500 which is a shame because someone will be receiving a $5 coin.

 

Log in or Sign up to hide this ad.

Yup, you're right.

Have you tried contacting the seller?

 

I don't know how to differentiate, but that really sucks if you're right.

 

I wouldn't bother to contact them. I have in the past many times and they just talk down to me like I am some criminal trying to scam them.

I once saw a crude fake 1901 S Quarter sell for like $1100 or so and contacted the seller to tell him and he told me where to go. So I waited til the buyer left feedback and sent him a message that it was fake and he should file a case and he told me i was crazy lol. That was my last attempt to police ebay.

 

Trust me, eBay isn't the only place with problems. About an hour ago I was browsing Teletrade.com and found not one, not two, but THREE (!!!) lots listed as 1987-D MS 67 6FS NGC nickels, (which are labelled so by NGC) which are actually 1987-P s. I just finished emailing NGC and am working on contacting TT. So, yea, LOOK CAREFULLY before you buy!

 

This is why there is the age-old adage, "buy the coin and not the slab"
It's unfortunate but the TPG's have a major influence on how collectors will spend their money. Collectors stop doing their research as soon as the coin is in some plastic. It's sad but I'd just let it be. No point in trying to police ebay.
Also, props to the OP for catching this one.

 

What about emailing PCGS with a copy of the link showin them the mistake. Maybe they can do something.

 

I never wish bad things upon other collectors, but if someone willing to bid that kind of money doesn't know the difference between the markers for a 1916 vs. 1917, then they are doing it to themselves. Sadly, PCGS will probably claim a "mechanical error" (i.e., a typographical error) on the label, and the person will be sunk in the coin.

 

PCGS certainly makes mistakes, but don't rush to judgement just yet. Counterfeit PCGS slabs are becoming a real problem. They'll take a known certification number of a high dollar coin, and stick a different coin or different grade in the counterfeit holder.

 

This is a genuine slab with a genuine coin. PCGS just attributed incorrectly. I am also quite sure PCGS will call this a mechanical error. I actually started to type that in my previous post and decided to remove it.

Emailing the grading companies will do no good. They will only downgrade or reattribute a coin if it is sent in for guarantee claim tier. They do not buy incorrectly graded coins out of the marketplace. There is nothing any of us can do except sit back and watch the train wreck.

 

The person who is winning the auction with a bid of $1525 is a newbie with " 0 " feedback

 

lol then he is off to a really bad start

 

Well, eBay has their own "policing" group for the numismatic community... the heavy-handed CFe group. This self empowered organization of buyers/sellers constantly search the listings for any coin that doesn't appear to meet their standards, whether it be an altered, counterfeit or mis-attributed example. Using proprietary tactics, they attempt to remove the listing... and often succeed. This group went private a few years back as they were worried about "spies" infiltrating their membership. So not to worry... the secret police are protecting us all from our own stupidity.

http://groups.ebay.com/forum/Coin-Forgery-Ebay/Welcome/100037396?

 

Help me understand this. It looks like the head is into the design at the rim. Thats the only marker I understand for the 16.

 

I could never make a call from the terrible pictures the seller provided. Anyway, if you check out Lehigh's post #13 on the following thread, he gives a breakdown of all the markers:

http://www.cointalk.com/t222860/

 

The head also does not pierce the top design

 

Slab collectors are weird, its much more fun to collect coins.

 

That's the reason I've fallen back on boxes of pennies as an investment that I can't really lose money on. I've bought a couple slabbed coins, but it was stuff that wasn't valuable (bicentenial ikes and quarters). I realize the more I read on this forum, the less I actually know and the more I think I know. Glad for all the people on here with their knowledge base, and keeping me from making similar mistakes. Being new the whole "third party verification" seemed fool-proof (guess I have too trust in people) but will definitely do my due diligence before making any large purchases. Like with anything it seems like if there's money to be had, there's a scammer there too. I appreciate all these great threads

 

I think PCGS should be responsible if the slab is real.

 

Its by invitation if you want in.