A great example of why you need to look before you buy!

So I will start off by saying I am not a big Peace dollar guy at all, with the exception of culls or ones with a low premium over melt.
This last weekend I was at an auction and had no intentions of buying a Peace dollar, but at the going price I figured I might as well. I picked up a 1922 PCGS MS64 for about $30, not a big bargain but enough to satisfy me. I didn't look at the coin in hand before but when I did I noticed quite a surprise immediately!

What a poor job at a dip! I can notice it immediately looking straight on, and when I view it at an angle it makes me want to break it out and throw it in the cull pile. Not to mention the red "toning"? or whatever you would call it on the back.

 

Log in or Sign up to hide this ad.

That is green PVC residue. Normally, a TPGS will return a coin like this ungraded but I have seen a few "detailed." This is so green I cannot believe it was slabbed this way. Return it to them to fix or buy and you'll have a profit!

 

Why would I return a straight grade for a details, not to mention the extra associated costs?

 

That coin went through bulk grading. Regular grading has an additional set of eyes that I hope would have caught that. Peace dollars can get a funky look to them not unlike subtle ASE milk spots, and it looks worse at an angle. The reverse is unattractive head-on, so I wonder if it turned (rather quickly) in the holder.

 

I picked up a BU Peace really cheap in an auction one time and it had the same issue. I've gotten stuck with a couple other bad dip jobs in the past as well. It's best to sell or return them and cut your losses and move on.

I do have a follow on question that perhaps some of you could weigh in on. Would the TPG's consider the OP coin to be market acceptable as is, or would it get detailed if sent in again? I'm curious as to how bad a dip needs to be to affect the grade.

 

Do I really need to answer this?

1. The coin is NOT an MS-64 as it sits.
2. The coin has PVC damage.
3. PCGS stands behind their product.
4. PCGS will probably clean it up and reholder it as an MS-64 or I think they own you some money for their error.

Want some real fun? Post your coin and the problem on "Collector's Universe."

 

My account is in good standing over there, I think it is best that I don't!
I may try contacting them tomorrow.

 

That holders about 4 years old I think. Wonder if they sent it in in a PVC flip and it turned with time

 

It would be fun. Just post it and ask what's going on with it. If you don't say anything bad about PCGS, you will be fine.

 

https://forums.collectors.com/messageview.aspx?catid=26&threadid=968204&enterthread=y

Someone suggested it was natural?? NO WAY!

 

The holder is actually recent. The serial number is from within the past year. The bulk orders are still using the pre-hologram sticker holders as of today.

 

Really, that seems strange and inefficient having different slab types or different methods of submissions

 

Maybe they still have a shipping container full of the shells they want to use up. It doesn't seem in their best interest to be putting out product such that you can tell the difference between service levels.

 

Couldn't agree more especially this long after the switch to the newer shells. What threw me was the old back not even having the Dupont hologram like they're still ordering their shells from prior to that. I would have just used all the old ones for whatever came in the door before the switch if that is what they're thinking but then again they don't care what I think lol

 

They made a big deal about the new shells, so they needed to get them out there ASAP. Sooner or later, they'll run out of the old ones, I guess.

 

You would think so anyway.

 

The TPG really fumbled the ball on this one.

 

For even more fun.... Post it over on the NGC boards..

 

Or send PCGS a picture and suggest it for the mast head of their home page.

 

Personally, I don't think any TPG should encapsulate a coin that has been dipped, cleaned, or manipulated in any way if it can be detected. From what I see on eBay, there must be a heck of a pile of "details" coins out there. On the other hand, if you want to keep one for yourself, do whatever you want with it.