Hi, New to the forum and first post. I purchased a 1885 Morgan graded by NGC as MS67 from a very respected and large US dealer. The dealer listed the Morgan as a 1887 and had pics of the coin in the holder. I noticed the error prior to purchase and emailed the dealer to inquire about the coin not matching the slab. I got no response. So after a few days of no response, I made an offer to the dealer and the dealer accepted. I went to the NGC registry for the coin and the NGC registry is correct complete with close -up pictures of the 1885 coin in the 1887 Slab. I am new to slab coin collecting and came to this forum to get some education. Is this error what NGC would refer to as a "mechanical error"? On the NGC website they have a video detailing all the various stages of grading and encapsulation including a final inspection after encapsulation but before shipping. I find it comical that multiple graders/inspectors would be obsessed with every scratch, smudge and mark to determine the MS67 grade and then brick on something as important as the date. Talk about missing the forest for the trees. Is this type of error common?
No, I am not unhappy with the purchase or with the error and I do not want NGC to fix it. This Slab error Morgan is my favorite purchase thus far. It makes me laugh every time I pick it up. I was just curious if this was a common occurrence or if it was rare enough to attempt to collect grading company errors. One dealer I talked to said he sees this type of error at least once a week. Is this everyone else's experience.
Thanks, I was buying the coin because I liked the coin and it looked like a 67 to me, but the Slab date error just was icing on the cake. I would have been leery or the purchase if it were not for the NGC registry with pictures.
In response to your question, this is what the grading companies refer to as a "Mechanical Error." There are quite a few out there, but it is not common. It's also not rare. These error slabs tend to generate a bit of a premium, but it is usually more significant for cheaper coins (i.e. an MS 63 Morgan might generate an extra $10-$20 for the same type of error as on your slab). With an MS 67 coin, there may still be a premium, but I would not expect it to be significant compared to the value of the coin (and some buyers may even be skeptical of label errors on more expensive coins).
First, welcome to the neighborhood, Paul! Typographical errors like this do happen from time to time. Please keep in mind that gradings services like NGC typically process thousands of coins each week. What you may not realize is that the QC process is completed before each coin is slabbed. Graders and/or finalizers don't see the finished product. Chris
Chris, thanks for the reply. If ALL the QC process is completed before each coin is slabbed, then that is a major logistical flaw at NGC. I am pretty sure the NGC video I watched showed and narrated a final inspection prior to boxing for shipping. I would think this would include a date check. But I do give credit to NGC for not attempting to bury this error. They could have removed the registry photo from their website. Still like the coin and the error. I am heading to the FUN show in Orlando for the first time next week. Got a shopping list bigger than my wallet!!!
It will be corrected on their website once they are advised of the mistake. So, you're going to the FUN Show for the first time, huh? If I recall, it is a pretty long walk from the parking lot to the bourse in the West Pavilion, but once inside, you won't regret going. Will you be attending the NGC Luncheon? Chris
I have not heard of the NGC luncheon. Do you need tickets or a reservation? When you say it will be corrected on their website, how will they correct?
I took it for granted that you were a member of the NGC Collectors Society. Every year at the FUN Show, NGC holds a luncheon (free of charge) for their members. Dena Skeffington takes care of all the details, and everyone who attends receives a gift from NGC. Most of the time, it is a certified coin. One year, we were given a copy of David Lange's book on Mercury Dimes. The error on their website can only be corrected if and when the coin is submitted for reslabbing. You are apt to see people on Ebay selling stuff like this all the time, but the truth is that they are not worth a premium. Chris
Thanks Chris. I have a NGC customer number, but I do not know if I am a "member" of the collectors society. I will check when I get to the show. I have only had my customer number about 2 weeks, so I may be too new to qualify.
