Grading Company makes fatal error?

This eBay auction had three quarters for sale. One of the three quarters was a 1976-S Quarter. Now these quarters were slabbed by a company called "National Numismatic Certification" Although they are pictured and slabbed, the 1976S has a MS-69 grade on it. Didn't the S mints of that year only come out in proof sets?

Wouldn't any professional grading service have known that the 1978S only came in proof sets? Therefore the coin should have been a PF69 and not an MS69 (not counting whether the 69 was even close). Either this coin company is fake or it is very very bad! That is an inexcusable error. I can see why eBay doesn't count them now. Or am I wrong about the S mints?

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=120185298222&ssPageName=ADME:X:AAQ:US:1123

 

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NNC isn't a very reputable grading service, known for overgrading many coins. Something like this though could be passed off as a typo, but I'm not sure. Still, the person that won got a pretty decent deal none the less.

Phoenix

 

The -76S was issued as a silver piece in mint state and proof. Unusual, but it was for the Bicentennial celebration.

The -78S was proof only.

NNC is way below par IMHO.

 

That mistake would be very minor compared to some mistakes that even the "reputable" companies have made. They all have made errors.

 

So which is it, paland ... '76S or '78S ? You mention both in your post.

According to the E-Bay link you posted, it's a '76S. And the pic looks like an MS piece, so it's not an overt mistake (MS vs. PR).

It's a more subtle mistake... it's overgraded, like almost all NNC pieces.

 

Yes, thay have all made errors. Haven't we all ? I have found NGC and PCGS to be very steady, and have never had a problem with either of them.

The key is how folks respond when they mess up.

 

the slab looks right to me except the number grade

the mint made 3 different types of 76S quarters

proof - clad

proof - silver

MS - silver


Snowman

 

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Apparently you didn't notice a year or two ago when it was either NGC or PCGS that put the incorrect date on a slab.

 

Great point...

Honor Your Coins, Keep Them Raw...

 

How many coins a year do they certify ? 10,000 ? 100,000 ?

Anyone who has such excellent quality control that we can't even remember when or which service messed up - on that one coin - has better quality control than anyone I know.

Of course they make mistakes. Who doesn't ? The questions are "how often ?" and "how well do they handle it ?".

I'm impressed the success rate is so high. I've seen many thousands of slabs, and no incorrect dates - though I'm sure it happens.

 

Except it's NOT a mistake, as we have seen.

 

There were around 5,000,000 uncirculated 1976-S silver quarters made.

 

I think the grading companys have three graders, who must all agree before a coin is awarded a grade. So i assume all three would have to make a mistake before an error could get out.

 

Redbook stated 7 mil, but was only a ballpark figure. Quite a few were melted in 1982.

 

I've seen some grading mistakes/ mislabeling that were selling for a very high premium.

 

I thought it was "concensus grading", where 2 out of 3 must agree. Maybe different companies handle it differently.

 

I've said it before. Someone finds a slab from one of the top tier services with some kind of error on it and it is pointed out as a "rare" error slab and it get sold for a premium as such on eBay. You find the same type of mistake on one of the third tier services it get held up to ridicule and posted as "proof'" of the services incompetency. Double standard.