An Impressive 1838 Sovereign, PCGS Blew the Call on This One, Period!

Discussion in 'World Coins' started by 7Jags, Dec 5, 2020.

  1. 7Jags

    7Jags Well-Known Member

    This coin no longer belongs to me, but has a possibly interesting story and I suppose supports something of an indictment of the whole slabbing business with regards to such coins:

    I purchased it on Ebay about 15 years ago; I was perusing the listings from the UK version and spotted what appeared to be a somewhat poorly handled but very impressive 1838 sovereign for a princely (!!) 1250 pounds inclusive to the USA.

    It finally came some three weeks later, I opened the package, and saw a magnificent coin that struck me as special (and naturally as is oft-said "appeared MUCH better in hand"). The rub seen is rather overboosted...I will spoil the surprise in that it was an unlisted proof milled edge 1838, the specific type not known in any of the usual sources.

    Now, I knew it had been lightly cleaned but [foolishly] submitted it to PCGS who promptly "bodybagged" it as a genuine. So I removed it from their PVC plastic flip - no, not even a slab - and held it aside.

    Not to drop names, but I have a certain very good friend who might be considered one of the true expert in the late milled series and he confirmed what I knew. Because sovs are out of my series, I used this coin as part of a trade for an extremely rare set of 20th Century silver patterns from his firm, receiving many multiples of the purchase price in value at trade and allowing me this set which I'd not be able to have managed otherwise, which he was able to do as he had a ready buyer. So a happy ending....

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  3. spirityoda

    spirityoda Coin Junky Supporter

    Beautiful coin.
    Inspector43 likes this.
  4. techwriter

    techwriter Supporter! Supporter

    Wow! My experience with English sovereigns is LIMITED, HAD a 1/2 sovereign of Elizabeth II. Never knew a Victorian proof existed. Well done; and a REEDED edge to boot. As they say, well done indeed!
    Inspector43 likes this.
  5. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    I think I must have missed something. What did PCGS blow?

    They called it genuine. At the time you submitted, it was standard practice to return problem coins in flips without putting them in slabs. It wasn't until later that they began encapsulating "details" coins. And the coin has clearly been cleaned.

    Either way, cool coin and you don't see early proofs like this very often.
    Seattlite86 likes this.
  6. angelo43

    angelo43 New Member

    I agree with physics, what did pcgs make a mistake on? It's has surface scratches, and should of come back to you in a bidybag.
  7. 7Jags

    7Jags Well-Known Member

    Was not re-engraved and the "damage" considered by an expert they themselves send coins to for arbitration to not be such. Not my fight, but I questioned their opinion and was borne out not only by his opinion but also by the subsequent sale - probably the best Ebay purchase I ever made ultimately.
  8. brg5658

    brg5658 Supporter! Supporter

    I’m confused. You never said any of this (re-engraved or damaged) in your initial post, so how were we to know what you were talking about?
    7Jags likes this.
  9. TheFinn

    TheFinn Well-Known Member

    PCGS/NGC/ANACS all specialize in U.S. coins. Trust me, NGC can't tell a Specimen Canadian dollar from a business strike - at least call it PL.
    Anyway, with the help of a notable dealer, NGC was helped to get the right label on it. If it is British, let the dealers there do the identification - they know their coins.

    Glad it worked out. It is fun when you get something you know if more than what is listed. It just takes a little work.
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