Stack's W 57th St hoard question

Why are some of the NGC items graded while others are listed simply as "Genuine" or like this?

Forgive the noob question but the forum search didn't reveal much for me.

 

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Genuine labels are usually given to describe a coin that is real but has a problem (like cleaning, environmental damage, etc).

Some people don't want the problem listed or the coin is rare enough where just knowing it is genuine is enough for the person certifying it.

The coin shown in this thread looks cleaned and whoever sent it in likely didn't want to lessen the impact of the 57th St Collection label with a negative connotation like "cleaned."

 

NGC pretty much prostrated itself before the 57th Street Collection. That's as firmly as I can put it without being (deservedly) edited.

 

I always wondered about that, I see a lot of the modern coins. lets say for instance, Austrailian Koalas and many others that have recent slabs by either NGC or PCGS specifying what the coin is but no grade. They will only say brilliant uncirculated etc. So these must be the coins that did not make the grade and were slabbed like that to resell.

 

This is typically from bulk submissions where the submitter specifies a specific grade. Any coins below that grade get the Brilliant UNC label rather than a grade.

I would guess the same thing is true for some of these hoards.

 

Excellent info. Thank you everyone.

 

So I guess the dealer sends in a bulk submission specifying the minimum grade allowed probably 69 and if they don't make that grade he has a choice of having them slabbed that way at the $12. fee or having them returned back raw with no fee.

 

That is my guess...but I honestly don't know. I'm sure there is some kind of fee just to evaluate the lower graded coins too...so there might be no savings to just have them sent back.

 

I just learned this morning in another thread that the coins that don't make the grade are sent back to you raw and there is no fee. This is for bulk submissions of 100 or more. So I am guessing the ungraded slabs must be an option.

 

There's a pretty strong market out there for slabs with no grade. It's just that, as somewhat knowledgeable collectors, we don't patronize the businesses which sell them.

 

I have a couple of graded W. 57th coins including one that got a CAC green sticker. But even with grades, many from that hoard are just flat ugly coins.

 

Interesting. I did not know that.

I have a 1/10th oz AGE in a BU NGC slab. I acutally won it in a contest.

 

The so-called W 57th St. Hoard is pure marketing bull edit forum rules. There is nothing important or significant about this group of low grade, common, and/or unattractive widgets. Do not get suckered in to the marketing.

 

There are too many unattractive coins from this hoard, especially 3 cent silvers.

This is coming from someone who likes very dark silver coins as well.

 

You guys remember the Binion Hoard? What a load of Klunkers........same with this offering.

 

If I remember right...at least that one had a somewhat interesting story.

 

Bob Chambers (God Rest him) embellished that........

 

I'm not saying it was a true story...just an interesting one.

 

Oh, the story of the old boy is quite true. Old 'Datelines' and 'Forensic Files' bear that out........

 

Very interesting. They were skimmed from his casino by Ted Binion and later found in a vault buried in the desert after Ted met -- let us say -- an untimely end.

I got a Binion hoard Peace dollar. It's a nice one. But don't pay extra for the label. There are a jillion of them.