Here's an interesting slab.

Discussion in 'US Coins Forum' started by LuxUnit, Jun 24, 2020.

  1. LuxUnit

    LuxUnit Well-Known Member

    I recently went to a coin shop today that had a really unique looking slab. If course I'd never heard of it but the coin was beautiful and it was cheap so I snagged it.

    This is a NCI 1880-S 65/65 Morgan.

    IMG_20200623_222436.jpg IMG_20200623_222503.jpg
    I didn't know what the company was so when I got home I looked it up.


    "NCI - Numismatic Certification Institute
    In the early 1980's Ivy and Jim Harpin merged their talents to form Heritage Rare Coin Galleries, today Haritage Auctions. Heritage launched its own grading service. Numismatic Certification Institute. After PCGS got going NCI was closed down. This company was took to court due to the holder's and label's similarities with Heritage's slabs, but references to this are no longer available."


    Something cool is that they graded both the obverse and reverse differently. Hence the 65/65.

    Each coin would come with a certificate and imaging and the coin would be in a flip stapled to the certificate (see below). Unfortunately, mine did not have a certificate. In the mid 80's they switched to slabs. But shortly after switching (1-2 years) they shut down so the slabs are apparently slightly scarce. I normally would consider this a third party grading company. But seeing as ANACS was the only other reputable grader of the time, and that it was started by someone who is still selling thousands of coins today, I see this as a really cool part of grading history that lead to where we are today.

    NCI.jpg NCI2.jpg

    If anyone has more info on the slab or the company please share. There is very little information anywhere about it.
     
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  3. NPCoin

    NPCoin Resident Imbecile

    Not only that, but the grading was admittedly liberal and arbitrary. It was a "formulated" form of grading. You can pick up a copy of the N.C.I. Grading Guide from 1986 and get all the details there.

    In a nutshell, the N.C.I. grading was based on four factors formulated with a weighing ratio of 2:1:1:1 with surface preservation receiving twice the weight in the formula as strike, lustre, and eye-appeal. Now, within each of these factors, there were five possible points that may be awarded.

    After determining the amount of points to award for each grading factor of the coin (each side graded separately), the points would be added up (with surface preservation receiving 2x the points). Grades from MS60-67 would then be assigned based on the total amount of points tallied for the obverse then reverse based on a skewed scale from 5 to 25.

    Read the book and it'll probably make even less sense to you! :bookworm:
     
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  4. thomas mozzillo

    thomas mozzillo Well-Known Member

    I like the idea of a separate grade for the obverse and reverse. If I remember correctly, at one time some dealers were doing that on the coins they were selling.
     
  5. jfreakofkorn

    jfreakofkorn Well-Known Member

    Cool find and a nice snag . . . First i have seen a holder as such . Seems like this was the fetal stage(s) of the coin grading . And developed into something more afterwards . . .
     
  6. Morgandude11

    Morgandude11 As long as it's Silver, I'm listening

    Wow, that is a find! Yes, they were a highly unreliable grading service (much like Accugrade—the misnomer of the hobby). However, those slabs are often considered desirable as a collectible, in their own right. The 1880s itself, is a nicely toned coin, also, incidentally.
     
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  7. ddddd

    ddddd Member

    It's a cool slab and most of the info has been shared already in this thread.
    The slabs also came with the certificate (as mentioned on the reverse of the holder), but many that I've seen tend to be missing it. Overall, these aren't super common but aren't rare either. Slab collectors will pay a modest premium (I've seen a range of $50-$125, depending on the date and grade).
     
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  8. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    Cool find!
     
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  9. Edward Major

    Edward Major New Member

    Amazon has the book for $8.11
     
    LuxUnit likes this.
  10. Edward Major

    Edward Major New Member

    N.C.I. Grading Guide from 1986
     
  11. LuxUnit

    LuxUnit Well-Known Member

    I might have to get that!I'm pretty upset that I didn't have the certificate with this, I might see if I can find one on eBay even though I know it won't go with my coin lol
     
  12. whopper64

    whopper64 Well-Known Member

    IMHO from what I can see, it looks like a legit 65 both obverse and reverse. Plus a nice piece of history. You might want to contact Heritage and see what they have to say.
     
    LuxUnit likes this.
  13. ddddd

    ddddd Member

    It's not a big deal from what I've seen in regards to the price.
    But it is certainly cooler to have the entire package.
     
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  14. LuxUnit

    LuxUnit Well-Known Member

    I actually bought the slab because the coin is fantastic. The slab was a surprise bonus ha
     
  15. capthank

    capthank Well-Known Member

     
  16. capthank

    capthank Well-Known Member

    Did the coin come with the certification you show here?
     
  17. LuxUnit

    LuxUnit Well-Known Member

    The biased me says it's a 65. But there is a little scuff on the obverse so I think it would be a nice 64 or an ok 65.
     
  18. LuxUnit

    LuxUnit Well-Known Member

    It did not sadly. That was just an example I saw online.
     
  19. capthank

    capthank Well-Known Member

    Thanks. Definitely cool and adds to the coins value
     
  20. Lehigh96

    Lehigh96 Toning Enthusiast

    It makes perfect sense to me and it is basically the same system I have been advocating for years.

    There are four elements of grading. Assign each element a grade corresponding to MS60-MS70.

    Surface Preservation (40%)
    Luster (20%)
    Strike (20%)
    Eye Appeal (20%)

    Then add the totals for the resultant grade, put the resultant grade on the front label and include the grades of the elements in the fine print on the reverse label.

    Now lets apply that method to say a monster toned Morgan Dollar.

    [​IMG]

    Surface Preservation (64 x 0.4) = 25.6
    Luster (66 x 0.2) = 13.2
    Strike (64 x 0.2) = 12.8
    Eye Appeal (68 x 0.2) = 13.6

    Total = 65.2

    By this method, this MS64 Morgan Dollar would become an MS65, but everyone would be able to see the color bump on the reverse label (eg. SP64-L66-S64-EA68).

    [​IMG]

    My point is that their system is no more arbitrary than PCGS or NGC and with a little transparency, it doesn't need to be arbitrary at all.
     
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  21. ddddd

    ddddd Member

    That's probably in a 65 holder now (if you sold it) or would make it if sent back.

    And that system is actually preferable in many ways as one can see the steps taken to get the grade (instead of just assuming it was a color bump or a grader having an "off day").
     
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