TPG Grade Shock? 1976FM Malta 25 Cents Matte Uncirculated

Well, I recently had this graded by one of the major TPGs and was quite surprised - GTG if you will.

A bit of background: the FM struck coins for Malta in the 1976-1982 period with some being struck for circulation and evidently sent to the central bank at Valletta. These were all in base metals and the [IMHO] nicest looking was the 25 cents coin. For 1976, a scant 300 were minted and in thee last 40 years have seen only this single coin which was gotten from a shop in Malta per se perhaps 8 years ago with the dealer still having this coin pictured on his website as he also has not seen any others.
Anyway, I finally sent this coin in for grading as it is obviously extremely rare and here it is:

 

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They must have had some economy in 1976 if only 300 were minted.

 

MS-65, if it strait graded....

That dark patch to the right of 25 isn't the dreaded Wheel Mark is it!?

 

I will go MS66. Neat design!

 

I think not, fortunately. A wheel mark would have resulted from a counting wheel grabbing the coin by the high points. The photos are good enough to see that the 5 is unscratched. And then the lines pick up again on the other side of the numeral.

Looks like good old die scratches, to me. Hope I’m right.

 

That'll clean up real nice and if it's typical for Malta it should go MS-68.

The rim mark will hold it back. If that's roughness between the denomination and numeral it might go as low as MS-66.

 

I'm going with 65. On the front of the boat, is that part of the design or did it take a hit.

 

65

 

Wow: NO GRADE,cleaned!

 

Soak it is alcohol and it will be very pretty.

 

Thats Nuts? does it have Hairlines? Maybe it just needs a Skin. Some time in a cabinet. I have a hard time believing cleaned from those photos.

 

No hairlines whatsoever.There is a bit of streaky toning which is suggested in the picture. I think I will crack and submit to NGC. I got murdered on the US coins submitted, well at least on the 1920 S dime that I will post in the US section.
Also, one coin that should have been environmental damage but was NOT went through as a "66" - now I like that but no damn way.

 

Are you submitting coins on the other side of the pond? Maybe throwing out a guess because of the rarity?

 

I feel like I am pretty good at guessing grades but frequently miss signs of cleaning. That said, it looks like a straight grade to me.

 

A lot of copper nickel stored in plastic for a long time will get a haze like that. When it's uneven it's probably caused by something with the planchet or strike like contaminants. It is greatly exacerbated by the coin temperature often being under the dew point for many years such as in a warm humid environment.

In any case though the hazing tends to be easily removed. These have a thick deep luster and with a haze on it will look like a bad cleaning especially if it's in the least bit spotty or streaky.

Unless you like it in that holder (it will protect it) I'd just soak it in 91% alcohol for a couple days. I bet it would clean it right up.

 

Yes, I will indeed as I am still PO'd about that. In hand the lustre is actually pretty good. As a very rare and attractive coin I want it in a holder with a number.....That coin was in Malta for a very long time as well so comments quite valid. The companion matte 50c coin I posted on these boards somewhile back and it came back from same folks as a "64" but had a few more honest marks, this IMHO a better coin....

 

Must be PCGS then. They mistook die polish for cleaning hairlines on my avatar coin. Your upper obverse is full of them and it's obviously die polish. Any chance yours was lacquered? Mine was. I had no idea until ANACS called and told me. They conserved it, removed the lacquer, and it straight graded. I don't see anything else on yours that says "cleaned." If they're mistaking die polish for cleaning that's really unacceptable considering what you paid to grade this.

 

No not lacquered so in hand I saw no evidence of it. Not that it matters, but I have shall we say pretty good familiarity with the FM currency coins. I figured worst case it would come back a 64 but likely a 65. As there were only 300 struck with these dies by record, the dies likely would have some "newness" to them.