1875 CC $20 Liberty what does it grade?

I believe it will continue to just get worst, unless CAC changes it. Every year TPG slab coins, then people pick out potentially undergraded ones and resubmit. What is left? Only fairly graded and overgraded coins. Basically, the system is designed to create a large amount of overgraded coins evry year, so this total just keep going up.

Hopefully CAC will maintain strict grading. Personally I wish they would remain strict, and also open up CAC to other grading services. Why not give an ANACS slab a CAC if the coin is properly graded? Maybe it would encourage another grading service to grade more properly and therefor get more CAC's as a percentage, and possibly then become the preferred slab for buyers. Why not MORE competition?

Maybe I am just in a good mood today, but I do see the possibility of CAC to fix this mess if they can maintain their standards. Call me an optimist.

 

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Just for the record... I am planning on sending this piece to CAC when it comes back in the mail... We will see how they feel about it.

 

A while back we were commenting on an 1865 $20 in an ANACS MS61 holder, there was concern that it was probably AU, which was debatable, ultimately no one bid on it at the auction at the $6000 reserve. A point that I have recently been made aware of is that ANACS will not re-slab the old holder coins in their new "gold" holders only in their "blue" holders--if you want it in the gold holder you have to submit it raw. So that can be telling, wheras PCGS and NGC will re-holder almost automatically--I'm sure there are cases when they make the decision that the overgrading is so egregious that they do not want that coin appearing at market or auction and causing them embarrassment and thus make a cash offer to the owner; though PCGS and NGC reholder automatically, ANACS will not, new ownership there that does not want liability for problem coins in their new holders with their "guarantee".

Do you know anyone who has had any luck getting a grading company to acknowledge their overgraded coin and make good on their guarantee?


"If, in NGC’s sole opinion, the grade determined under such review is ultimately lower than the grade originally assigned, NGC will offer one of the following three remedies:

• NGC shall purchase the coin from the submitter at its determination of the current market value (see below) for an example of that coin which is correctly graded at the original grade level assigned.
• NGC shall exchange the coin in question with an equivalent coin at the original higher grade.
• NGC shall return the coin to the submitter at the correct lower grade and pay the difference between the current fair market value (see below) of the coin at the newly established grade and the current fair market value of the grade originally assigned to such coin."
  http://www.ngccoin.com/services/writtenguarantee.asp
  

 

The only thing I remember was from court papers regarding the putty issue Doug. Are you sure the millions of dollars wasn't more from tampered coins more than the grades? I know the issue could be considered either way, but its a lot different grading a coin a 64 when its really a 58.

 

Btw Matt, my apologies for hijacking the thread. Looking back its unfair such discussions are taking place here. I fully see how your coin graded 61 nowadays, and will look forward to seeing CAC results.

Cool score for you.

 

Compare to an 1852-O $20 in a PCGS AU58 slab I once had: http://images.goldbergauctions.com/php/lot_auc.php?site=1&sale=10&lot=1553&lang=1

Now that coin is all there, deserving of a "59", a plus, a CAC and whatever other accolades would be appropriate.

 

That coin is definitely MS, as the grading service said. People forget that gold is soft, and mint bag and coin contact marks are way more magnified on gold coins than on silver. I think it is a beauty, and should get a CAC, as there are a lot of rather crummy looking gold coins out there. Hard to judge from an internet quality jpeg, as it is very compressed for posting on a website. It looked low level MS to me from the beginning. Nice coin!

 

Haha, If they had a blue sticker for coins that were overgraded, I would bet they would be the rarest coins to find at any shows or shops.

How would such a thing be worded, here we have an 1895-s Morgan dollar graded vf-20 by PCGS, it has a blue cac sticker. Indicating that the coin was sent to Cac but that Cac thought the coin was overgraded.

The only way that a blue sticker would mean anything is if it was heat sealed to the slab, because that sticker would come off faster than a Kardashians clothes at an NBA MVP party.

 

They'd be rare 'cause people would be pulling 'em off.......

 

I bet it would kill CAC. For people to risk their slab would forever be in the CAC online database as an overgrade would basically stop most submissions I fear.

However, if CAC takes off, any slab without a CAC sticker will basically be wearing a "blue sticker", right?

 

I see what you're saying , but an AU-58 coin is all about wear . I've seen numerous AU-58 coins with loads of bag marks and with hardly any .

 

I think we should start the CTGS. There would be no grade on the slab, just one of those square things that you scan with with your phone with a link to the thread about the coin.

:thumb:

 

They'd just pull the sticker off then.

 

Not if they put it on with a glue that would weld it to the plastic , people would know if someone pulled it off . They'd have to get their coined regraded or break it out , CAC wouldn't do it though because people would be scared they might get a bad sticker and stop submitting them to CAC , unless they were sure it was at least middle of the grade or higher .

 

All CAC would need to do was list the over-graded coin in its database with the certification number indexed--so if the sticker were pulled off the cert. # was still there unless the coin were to be reholdered.

This CC $20 is not a rare coin until you get to MS62 and above. Look at the population figures of MS examples. There was a time when these were generally considered bullion coins not bearing much of a premium until New World Rarities and other promoters like them started pushing CC coins as the Wild West relics that they frankly aren't, most of them hardly circulated.