Stolen coin.

My friend recently bought a coin on ebay. Ironically he and I had both spotted the coin. He messaged me after he won it. I told him yes I saw it but didn't bid because the cert came back invalid. After some days it still came up invalid. I told him about it again and he contacted pcgs. They told him that the coin was reported stolen long ago. And until the original person contacted pcgs the cert would remain invalid. Pcgs told him he could send the coin to them but without compensation. He has obviously decided to return it to the seller. If the cert isn't working be careful.

 

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I've got an Texas commem from that same generation of holder, and it don't come up either. After some investigating, I found out that (from PCGS) the records for some of these had been lost. They said that they would re-holder the coin for free but I liked the OGH.
If it were I, I'd accept delivery of the Morgan...........

 

...so, being that it is a stolen coin doesn't matter?

 

Who knows it if actually was. Way back it was easier to label one then today. If it really was you’d think from all parties more than just you can send it back or I’ll just return it would have been done. If it’s so long you could never trade it back then it doesn’t matter anymore and it’s just part of the market again

 

Didn't PCGS say it was stolen?

 

From the post looks like they said it was reported stolen long ago from the OPs word. Reported and actually are different things and long ago means what. The requirements for the report in the 90s weren’t as much as now etc. Again if it’s so long ago it doesn’t even matter anymore, you’re not going to be able to trace all its sales back and the original owner may not even be alive.

By returning it it’s just going to get resold anyways

 

true

 

I believe it was stated "reported stolen".

Without an official report to policing authorities, it is believed legally "hearsay", inadmissible for action.

PCGS not delivering quid pro quo "without compensation" is questionable!

JMHO

 

Contact the NCIC - they might be able to broker a satisfactory solution

http://numismaticcrimes.org/

 

I would be uncomfortable in @Vertigo 's friend's place...

 

Isn't that cert number there for a reason? So no one can cheat by changing coins or as identification if stolen? If I went as far as reporting the coin stolen it would have been because I cared about my coin and wanted it back. I would demand my money back from the seller and return the coin to the rightful owner. Selling stolen property is as bad as buying it, especially when you know what the number on that slab is for.

 

I have seen a few of the OGH's that don't come up in the search.
Part of the problem could be PCGS.

 

Raises an interesting question: what percentage of slabbed coins have been stolen, and how many of those have been reported stolen?

As someone who used to search rolls, I've sort of resigned myself to the fact that some of the coins in my collection were almost certainly stolen at some point in the past. It's part of the Numismatic Circle Of Life.

On the other hand, if a particular coin is currently flagged as stolen by a reliable authority, I want no part of it. Sure, I could crack it out of the holder and return it to anonymity, but it's not happening on my watch.

 

What they said. Quite frankly, I don't believe PCGS really knows the truth involved because the records are lost.

 

Yes, PCGS said it was stolen. This guy is a dealer and he buys coins to send to CAC. They won't accept the coin with the cert not working either. He has filed to return to the seller. For him with the cac intention, what can you do?

 

Yes what if it was discovered you were in possession of a stolen coin? What if it was years after the ebay purchase? Is possible you could even be charged with possession of stolen property... I don't care when it was. Or whether i wanted to send to cac or not. Stolen is stolen and I'm not possessing it...

 

To whomever has the coin in their possession, simply returning it to the person who sold it to you is morally incorrect.

What you should do is ask the seller to refund your purchase AND send the coin either to PCGS or to a trusted 3rd party like NCIC to be restored to it's rightful owner.

 

There is a narrow range of cert#s that were lost in a database problem that PCGS is aware of.

This is not that range.

 

I believe you are absolutely correct, and that any impartial jury/jurist would agree!

Because of privacy laws, if PCGS even knew about the buyer, they couldn't disclose!

Thanks for your logical opinion. i am rich

 

Here is a link regarding my discourse on the issue of my Texas commem with PCGS.

https://forums.collectors.com/discussion/966223/cant-add-slab-to-registry#latest