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<p>[QUOTE="Prethen, post: 25522, member: 1756"]PR70: </p><p><br /></p><p>I was one of those "bidders" that was watching this coin. I was curious what it was going to go for. The grading company is a lark. If it's truly a Proof 68 you have a coin worth potentially many 10's of thousands of dollars. Unfortunately, in that holder, there's a good chance that someone has already cleaned the coin (especially since it appears it's a "white" coin). There's a possiblity that it's even impaired by someone harshly cleaning it, it getting polished, a little bit of circulation wear, or all of the above.</p><p><br /></p><p>Is it possible you got a deal? Sure. But, I would never stake any large amount of money on it. If I were you, I would back out.</p><p><br /></p><p>I personally own an 1871 Proof Half Dime graded by PCGS (I think, otherwise it's NGC) as PR64. Proof coins are very susceptible to being handled improperly and the top-tier grading services will show no mercy when it comes to grading that type of coin. Typically, a mishandled proof coin will be "body-bagged" and sent back to you.</p><p><br /></p><p>Essentially, by buying that coin in that type of holder, you're buying it as a raw proof coin. My rule of thumb, because I'm not an expert in accurately grading raw proofs, is to only buy the coin if it has been slabbed by NGC/PCGS/ICG/ANACS and, of course, if I like the appearance of the coin. I realize some of you might shiver at the idea of having a policy of not buying a raw coin, but I've come close to being seriously burned on buying them raw. The pricing changes can be quite large between various proof grades.[/QUOTE]</p><p><br /></p>
[QUOTE="Prethen, post: 25522, member: 1756"]PR70: I was one of those "bidders" that was watching this coin. I was curious what it was going to go for. The grading company is a lark. If it's truly a Proof 68 you have a coin worth potentially many 10's of thousands of dollars. Unfortunately, in that holder, there's a good chance that someone has already cleaned the coin (especially since it appears it's a "white" coin). There's a possiblity that it's even impaired by someone harshly cleaning it, it getting polished, a little bit of circulation wear, or all of the above. Is it possible you got a deal? Sure. But, I would never stake any large amount of money on it. If I were you, I would back out. I personally own an 1871 Proof Half Dime graded by PCGS (I think, otherwise it's NGC) as PR64. Proof coins are very susceptible to being handled improperly and the top-tier grading services will show no mercy when it comes to grading that type of coin. Typically, a mishandled proof coin will be "body-bagged" and sent back to you. Essentially, by buying that coin in that type of holder, you're buying it as a raw proof coin. My rule of thumb, because I'm not an expert in accurately grading raw proofs, is to only buy the coin if it has been slabbed by NGC/PCGS/ICG/ANACS and, of course, if I like the appearance of the coin. I realize some of you might shiver at the idea of having a policy of not buying a raw coin, but I've come close to being seriously burned on buying them raw. The pricing changes can be quite large between various proof grades.[/QUOTE]
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