Genuine but ungradable by PCGS?

I'm a new member, but a 60+ year collector. I have a couple dozen TPGs but try to avoid them because I feel they are inconsistent. I bought this one on eBay for $160 in 2013 but don't understand the "ungradable" note on the back of the slab. The surfaces are smooth and the only thing I can think of is that it polished long ago and retoned. Any ideas what the grade might be?

 

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Some folks who submit coins to a TPGS ASK FOR them to slab the coin in a "Genuine Only" holder rather than giving it a grade and noting its problems.

I suspect your coin would be detailed as "Scratched." Probably VG-10 to F-12.

 

You can look up the certificate number. According to PCGS it is ungradeable due to "Environmental Damage"

https://www.pcgs.com/cert/28021593

Edit: and like mentioned by Insider above, people could choose to put a details grade (like XF details) or just have "Genuine" on the slab for any problem coin.

 

Then it is corroded more than it looks in the image.

 

Thanks for both great answers. I considered that it may have been requested as authentic only. But I didn't try contacting PCGS. I have a hard time seeing the environmental damage.

 

It took a 10x loupe to see the uneveness in the fields. I could not see it with a magnifying glass. No noticeable pitting.
Thank you all. It was broken out for my type set. I graded it Fine details.

 

Actually...there was a period when PCGS had just started to slab problem coins where they would not list a details grade (prior to this they would return them in body bag). They simply said "Genuine." The "97" and the end of the serial number was a code for what was wrong with the coin and why it was not gradable. I can't seem to find the code list though.

Edit...found it. . 97 was the code for "Surface damage (either: large gouge/scrape, drill or chop mark)"

 

This is the current list of details codes

https://www.pcgs.com/news/my-coin-got-a-details-grade-what-does-that-mean

82 Filed Rims Rim(s) and/or edge is filed.
91 Questionable Color Any artificial re-toning – dipped copper.
92 Cleaning Harsh cleaning or polishing.
93 Planchet Flaw Generally large – prominent flaw(s).
94 Altered Surfaces Any applied substance (wax, putty, lacquer).
95 Scratch(s) Large – prominent scratch(s).
97 Environmental Damage Corrosion, excessive toning, verdigris.
98 Damage Any metal movement.

 

I am personally against assigning a grade to a coin labeled "Genuine" or "Details".
But if a coin gets one of those labels I want to know the reason.
So I would like something such as "Genuine - Cleaned" or "Details - Scratched".

Assigning a grade is a disservice to newbies as there is a reasonable chance that they would overbid/overpay.

 

It does say it. It’s just coded.

 

That's true. The listed problem will give you a starting point and then further examination is needed if one wants to be thorough.

I'd prefer if more than one problem was listed if they are identifiable (i.e. scratched and cleaned). Anacs is one company that has done this on some holders.

 

Regardless of its issue(s), it's a real beaut!

 

I think that the "newbies" need to learn. I know some people don't like net grades, but for some people it's hard to assign a value for a problem piece The net graded piece is at least the beginning of a guide.

Many times the problem lowers the net grade by one notch. Sometimes the problem(s) is (are) so bad that it is more than that.

I think that the long scratch accross the top of the date, probably doomed this coin to the "genuine" status.

 

As a 60+ year collector of LC die-varieties I would judge your cent to be a decent VG example of Sheldon 181, a slightly-scarce variety and in a rather-early die state. Nice coin! And I see no excuse to prevent a straight grade. See S-181 above.

 

There was a time when PCGS didn’t give a grade of “XX Details“. That didn’t last long.

i am also of the opinion that the obverse scratch is a far more significant problem than any ED

 

TypeCoin971793, posted: "There was a time when PCGS didn’t give a grade of “XX Details“. That didn’t last long."

Thank Goodness! Any coin can be graded and the TPGS in business before PCGS were grading everything. Until they got with the program, the top TPGS believed problem coins in their slabs would "damage" their image and hinder "sight-unseen" sales.

johnmilton, posted: "I think that the "newbies" need to learn. [Absolutely!] I know some people don't like net grades [I'm one of them], but for some people it's hard to assign a value for a problem piece. [I think putting a realistic value on a coin for most of us non-dealers without an up-to-date view of the coin market is virtually impossible!] The net graded piece [That matches no published guide ] is at least the beginning of a guide. []

Many times the problem lowers the net grade by one notch. Sometimes the problem(s) is (are) so bad that it is more than that." [I guess one problem with grading coins is it is not subjective enough.]

 

Because you broke it out for your type set, the grade no longer really matters, does it? It is a nice coin and I'd enjoy it as it is.

 

Wrong again.