anacs dilemma alexander *III silver coin

I have a coin and question , the coin pictured is Alexander. Anacs not only messed up but they also claim it to be damaged. Do you think the labels may have been switched with another coin? I'm not seeing the damage here..... It's not worth a premium in an error holder is it? Obviously I need to call Anacs but thought I would check-in with u guys

 

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Please show the reverse. There were many locations striking Alexander copies, but its hard to say much without an image of the reverse. Besides, I don't see the damage on the obverse.

 

Larger images would be helpful, and of course the reverse as well.

Also, why do you think the attribution is in error? Philip III did issue these types. Without seeing the reverse, where the name is stated, I can't say who issued your coin. Check the reverse. Does is read "ΦΙΛΙΠΠοΥ"? If so, it is a Philip. Alexander's coins read "AΛΕΞΑΝΔΡοΥ".

As for "damage", I think I see some deep scratches on the obverse (cheek and nose). NGC doesn't make a big deal out of such things and in general, nor do most collectors of ancients unless the scratches significantly detract from the appeal.

Seeing the ANACS holder reminds me... I was just browsing Great Collections (they offer a few ancient coins, almost always slabbed by NGC or ANACS) and am thinking of making a warning post. The prices they ask for their coins are generally insane. I guess they're hoping to attract collectors of modern coins (US buyers, primarily) who are accustomed to having tidy packaging and third-party grades. Buyer beware...

 

I don't image an incorrect label would add a premium but I've only been serious about ancients for a few months. It seems that ancient collectors (or collectors of ancient coins) prefer to buy based on the coin and worry less about the plastic and label it may come with. Many here would likely free it.

 

If you call ANACS ask to speak with Paul DeFelice.
He has been helpful to me in the past.

 

=> yah, but do that after smashing the crap outta that plastic holder and giving that poor coin mouth-to-mouth!!

 

Ok, TIF hit the nail on the head.... ANACS was actually right..... I was wrong . Doh......
Now the question is WHAT WOULD THE VALUE BE??? all things considered.....
I know I didn't post the reverse but I don't have access at the moment..... No damage on reverse
Is this a valuable coin? Or did I get taken to the cleaners??

 

Regarding whether you paid a reasonable amount for the coin, you can check sales prices for similar coins in a variety of places. I don't know if Philip III drachms issued in Kolophon bring a premium compared to other mints (probably not), but I've linked "the usual places" to check for comps. Disregard ANACS' grade for your coin and instead go by what you see versus what the comparisons look like. Regarding the "damage", from what I can see in the small picture of your coin's obverse, it doesn't look horrible.

I've used the search terms "Philip III drachm Kolophon". The results may include other coins but this should hit a good number of comparisons.

CNG's archives of sold coins (note: prices stated do not include buyer's premium, which is 15% for e-auctions and 17.5% for print auctions, and possibly other fees such as payment by credit card or PayPal). Note that when you click this link, there are three tabs near the top: Coin Shop, eAuctions, and Printed Auctions. The link shows the Coin Shop sales; you'll need to click the other tabs too to see their content. Given the somewhat lower quality of your coin, their eAuction section is most likely to contain coins of similar quality. The Coin Shop and Printed Auctions are going to have coins in better condition and/or higher rarity, in general.

acsearch.info Same as above; hammer prices do not include buyer's premium, which can range from 10% to 25%, and other processing fees. CNG's coins are not shown in acsearch. Between the two databases, you can get a very good idea of what has sold publicly in the last 10 or so years. eBay sales are not found in this database.

Vcoins, for currently for-sale fixed price examples. Note that the prices will of course be higher than for auctions since you are paying for the convenience of buying the coin now. In general, these dealers are also buying their coins at the same auctions cited above. These Macedonian drachms are often sold at auction in group lots, which does leave more room for retailer mark-up.

If you leave off the mint name (Kolophon/Colophon) in your search, you will find a thousand more comps in these databases.

 

Thank you for the info..... It was very helpful,useful and greatly appreciated