I think PCGS missed something on this one...

LOL - it was unintentional, I promise But I'll leave it as is, for the entertainment value.

 

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And I'll bet they can give you 866,000 reasons why.

But I don't think in this case this was the result of a mistake.

 

That coin belongs in a junk box, not a graded PCGS holder IMO.

 

The grade is accurate for the wear, but the post mint damage is definately there. That is 100% PMD. If this were a common date it would have been bagged. I think they let it slide because it's a key.

 

On the other hand, if it were a common date, would anyone have submitted it? In fact not many 31-S's have been submitted that low a grade.

 

Indeed....just a theory I tossed out there. Personally, I wouldn't have bothered submitting that 31-S.

 

That's just it. People keep saying this is an example of PCGS overgrading or ignoring problems on a "key date" coin. Well, I'll tell ya what...this isn't a key date coin. Sure, it has the second lowest mintage of all circulation Lincoln Cents...but in VF it is very affordable and easy to come by. Low mintage and key date are two very different things. I agree that this is post mint damage, but the "key date" excuse really doesn't apply here IMHO. I think PCGS just blew it or it was submitted by someone who has some clout and was passed through the system because of that.

 

I must differ. 1931-S is most certainly a key date in the Lincoln Cent series. I understand your point that it is only a hundred dollar coin and that even the best examples fetch far less than the key dates of some other series but that doesn't change anything. Being a "key" to a series isn't determined by comparing a specific coin's price to that of prices of another coin in a completely different series.

 

It's not based on mintage alone either. I would call the 1931-S a semi-key coin. In the same camp as the 1924-D. I don't think PCGS would slab such a damaged example this coin based on the "key" reason alone because this coin simply isn't a strong enough key.

 

At that grade, it is the fourth most expensive coin in the series. Considering that there are a lot of people who argue that the S-VDB is not a key (mintage is too high and it is too available), it could easily be argued that the 31-S is not a key. Not that I agree with the comments about the S-VDB, but the number of 31-S's certified put a big dent in the definition of "key". Were it red unc., it would definitely not be a key.

 

Come on guys. Think about it. Out of 100 years of minting coins in that series from three different mints there are only 4 regular issues that are valued at $100+. I would think that alone would be enough to earn each of those dates the title of "key".

 

Key date or semi key it really does not matter. I think PCGS gave this one a pass because of that - BUT they still blew it because it should not matter even if it was common date coin. I think it belongs in a genuine holder.

 

I agree, this coin is ungradable.

 

That's because there AREN'T very many 31-S cents in that low a grade.

 

Don't get me started with PCGS. They totally trashed some very valuable
gems of mine and then ultrasonically cleaned and etched them to remove
the marks. PCGS = &$#@&!

 

The person I sent this to at PCGS saw a need to forward it up to Mr. Willis (President of PCGS) and I think that says a lot, even though Mr. Willis has not replied as of today. :whistle: But the person I sent it to saw the damage we all see and he knows that it was borderline (or worse) on meeting the requirements to slab with a grade or he wouldn't have bothered Mr. Willis with it.

I hope Mr. Willis will reply soon but the Long Beach show is their top concern right now so I doubt we will hear from him until next week at the earliest but I do expect to hear from him sometime. :thumb:

Ribbit

 

I know Mr. Willis personally from before his PCGS days and I was thinking about showing him this coin at the next major show I attended. I don't know yet when that will be tho.

 

PVC damage. Agree coin is a "no grade".

 

Do you have proof of this? As far as I know PCGS has never cleaned a coin in any way unless requested by the owner. Now removing marks would be unethical and not something I believe PCGS would do.

 

I have been looking at this coin. I see what looks like damage in the picture, but... pictures can be deceiving. However with that being said I trust Matts assessment that this coin is damaged, He has it in hand! I agree with the crux of what has been said here. Looks like a typical bodybag to me.