Should this coin be in a "genuine" slab?

Perusing the draped bust, small eagle dollars on eBay and came across this example:
http://www.ebay.com/itm/1796-1-DRAP...09?pt=Coins_US_Individual&hash=item540cb68085

without much trouble one can see the "x" scratched on the bust. Now I don't have a problem with small scratches or even letters in early bust type if they are small and out of the way but this seems to be pushing the envelope of market acceptability. I also think that the grade given is appropriate technically, ie, the coin has not been "net graded" due to the marks. Opinions?

 

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"Should this coin be in a "genuine" slab?"


Probably.

 

X marks the spot for cutting tobacco. What is the Blob on the reverse ?

 

That is NOT a cud.
Just misses the rim
Die chip

 

Should be in a details slab .

 

are you sure it's the correct coin in the holder. Could someone fake a holder with the appropriate number and then stick in their own coin?

 

I would hope that the TPG's are less forgiving of scratches that were put there deliberately versus those that happened through normal handling?...

 

Good eye , I'd say it definitely had some tooling in the hair . Guess I looked at the X and a quick glance at the rest of the coin . How that coin got a grade is beyond me . Must have been graded on a Monday morning .

 

It has gotten so that when I see a coin in one of those new "shaded blue" holders I am extra careful. I suspect some overall slackness in the last couple of years in grading, and allowing more problem coins into graded holders. This is an extreme example, I think. Caveat emptor!

 

A little more info about this dollar: It's a BB-65, rev. D which has a die lump at the I in AMERICA. This appears to be Die State IV based on the extent of the lump. And, I'm going to revise my opinion on the technical grade downwards, after some more research I don't think it is better than Fine. So it is an overpriced, problem coin that could cost someone thousands of dollars. Be careful.

 

PCGS's definition of designating a scratched coin:
Scratch | Close
Depends on the severity and/or the quantity of the scratch(s). Faint, old, toned-over scratches may be acceptable; bright, fresh scratches may not. Placement is an important factor.

Would I buy this as a problem free coin? Heck no.
I feel as though if I sent that it, they wouldn't think twice about putting it in a genuine holder. My overall luck hasn't been great lately. Either they have been nit-picky lately, or I'm choosing my coins wrong.

 

The $125 walkthrough submission works wonders, my guess either that was paid or express. I understand there is a different set of graders for the high end material vs. the lower end, especially economy submissions. I don't know what the ebay seller is fishing for in terms of offers but with GS running $3000 plus in Fine and high $4000s in VF he is hoping his luck will pay off, because selling that problem puppy in a major auction might not pan out, or maybe it would?

 

Agreed, this is a problem coin and if I'm going to pay that much for a coin, I'm going to get my money's worth. Slabs only tell me the coin is original, but I don't always agree on the grade.

 

I don't necessarily disagree with the grade, the scratch is distracting, but not impossible to have been made during the normal life of the coin. Having said that, I wouldn't consider it a smart purchase at that price, it is clearly at the lower end of the grade.

 

It was US Coins of Houston who were trying to sell that Bust dollar with effusive praise:

1796 $1 DRAPED BUST DOLLAR LG DATE, SM LET PCGS VF20
NICE! SCARCE! SHARP!

If they had been honest about it, shouldn't they have said what others have noted? Hey, our coin has a great, big X on it with possible tooling in the hair, and maybe a tad overgraded as well. We are not fishing for suckers, but just trying to be upfront that the buyer may have trouble re-selling it or getting PCGS to honor their increasingly elusive guarantee....

 

If it was mine it'd be detailed in a second. I love draped bust dollars and I wouldn't touch this one. It's obvious graffiti right on the portrait in plain sight. And even allowing for strike weakness I'd call it a f-15 to me it's a $2k coin tops and I wouldn't buy it for that.

 

This coin should definitely be in a details slab... No question at all. PCGS screwed up there.

 

It can still be yours, they knocked about $200 off the original price!