I'm doing a sanity check on my coin inventory and ran across an odd labeling. I have a 1955 Roosevelt Dime in an NGC slab graded MS-66 W. What does the "W" indicate?
NGC briefly included a "W" or "T" on coins to denote White vs Toned. This didn't last too long. From an NGC article dated 8.1.2002: "Effective immediately, Numismatic Guaranty Corporation will no longer apply the "W" designation to its certified coins. This letter was used to indicate that a silver or nickel coin was entirely untoned, and its application was limited to certain modern series. The reason for ending its use is simply that the marketplace doesn't see a great need for this designation. It was introduced by NGC about 2-1/2 years ago at the suggestion of some dealers and collectors who wished to distinguish between toned and untoned coins. A recent re-evaluation of this designation by NGC suggests that it has had minimal impact on the coin market." https://www.ngccoin.com/news/article/774/
@ddddd, thanks. Obviously it adds no premium to the coin. It's just a mildly interesting bit of NGC history.
Someone putting together a set of various NGC generations might pay a slight premium above the same coin in a new holder, but mostly there is no premium just for the W or T on the label.
There could be a new 'need' for the W & T designations nowadays. We are all aware of at least one seller on a large auction site that we assume is artificially toning slabbed coins. The W/T designation could potentially protect buyers from unscrupulous sellers of recent times.
That might be an easier solution than to have pictures of all coins. However, there would still be an issue with coins that were improperly dipped or that had not stabilized before being slabbed (those could have been white at the time of encapsulation but then toned over time). Now it might still be valuable to know the full story with coins like that, but I'm not certain the TPGs would like seeing something like that (as it might tarnish their reputation...yep pun intended ).
One problem is you start having the same problem they had back before 2002. Sometime the W coins don't stay white. And it you more heavily tone by AT methods, a lightly toned coin in a T slab it would then be promoted as a TPG approved toned coin. "See they said it was NT, has the T right there on the label!"
Yes. (Which is why PCGS won't guarantee the RD designation, and NGC will only guarantee it for 10 years.)
