overgraded PCGS 1814 Large Cent?

From The Official American Numismatic Association Grading Standards 6th Edition:

VG-8 Obverse: Hair ends and curls are smooth but show some detail, LIBERTY is readable. The eye and ear are visible. Stars and date are clear.


Since there is no trace of an ear on this coin how can PCGS assign it a grade of VG-8?

http://cgi.ebay.com/1814-Classic-He...em&pt=Coins_US_Individual&hash=item5adb04da89

 

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and don't forget the hit at 6 o'clock

 

I agree. This does NOT look like a VG-8. I've heard of PCGS slabs being forged, and I think this one is a prime candidate. This is CLEARLY not that high of a grade. I would guess AG-3 or G-4 at best.

 

That coin shouldn't have even made it into a problem free slab.

 

Does it also seem a little pricey?

 

I would say a shell bidder? (or is it shill?)

 

Shill bidder, but with only 2 bidders a whole $1 over minimum, you are going to have to explain how you figure that. ESP?

 

Yea, I have ESP

I just thought the auction started out at $0.01 or something like that.

 

I agree with both of these statements. I am not thinking counterfeit slab, but, couldn't venture a guess as to why it was so overgraded, let alone graded numerically.

I agree with rlm's cents, statement also....I don't see shilling at all with only 2 bidders.....need to see the activity, but with the first bid placed 5 days after listing, and the 5%, and 6% activity with the listing party, the 2 bidders that placed bids gives me no reason to suspect shilling...but stranger things have happened.

As for being pricey? It's right at CU price guide now, so, I don't see it being TOO overpriced....and what happens when you get 2 bidders that want the same coin? You usually see a price a bit elevated anyway. Nothing fishy or out of place, in my opinion...but I've been wrong before (at least once or twice....oh, wait, I was also VERY VERY wrong when I decided to put together an FDI Prez Dollar Registry set.....with the rapid depreciation, I could have paid a whole semester's tuition...lol...no more ultra-moderns for me!!)

 

that coin is a G-4 at most.

 

Well, it is out of line in my opinion, however the certification is valid. see here: http://www.pcgs.com/Cert/16560193.html

 

Actually I am watching that auction. I would put this coin at G-4 to G-6, but I also think the color and solid looks of the planchet drive a little premium. To me that is the perfect classic head to collect. A little over priced, but not much. Plus - here lately all the ebay auctions I have watched are going a little high in my opinion.

 

Yes, the coin is overgraded by ANA standards.

No, I don't think it's a counterfeit slab.

Yes, the TPGs use their own standards, but they shouldn't. I feel everyone should use one set of standards - the ANA book.

I agree with mark_h... for a classic head 1c, the coin has a pretty good flan and overall nice color . Maybe PCGS gave it a little market grade bump up for that reason. I can see how someone might pay VG8 money for this one.

 

I'm just thinking two people buying the slab and not the coin.

 

In a way, you're indicating PCGS may have added to the net grade because of better than normal condition. This is something I think SHOULD happen to CHOICE coins. Now whether that should happen to THIS coin is a matter of debate. The difference is about $35 between G4 ($50) and G8 ($85) in the 2010 Redbook. Are the surfaces worth it on a Classic Head where nice surfaces and even wear are scarce? Could be.

Perhaps a G6/net G8?

ps Some bumps and bruises are permitted on lower grade material. The question is whether there is less than typical for the grade.

 

There is a big difference there. Shill bidding is against eBay's rules and can get the seller removed. Stupid bids are all welcomed by the seller. However, now there are 3 and I am guessing there will be more before it ends.

 

I am not too surprised with the grade. You noted a couple of things, but I see a trace of the ear. Overall it is a nice planchet which is rare on these issues. Honestly, without a grade assigned, I would have given it g6-vg8 and not been surprised with either grade.

Right now its $108, so I think that is out of line, not the grade per se.

 

It is Ebay. I've made a couple of high bids there myself recently. Usually it's because I think I see something that isn't there.

 

Maybe there is a trace of ear, but the detail is well short of the ANA photo for VG. This coin has G details.