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I Acquired a Counterfeit Certified by NGC
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<p>[QUOTE="CaptHenway, post: 5162953, member: 13813"]Back when I was at ANACS I made the decision to certify as genuine a 1796 quarter with a "scratch" in the right field. Basically Good-4 condition. Had my doubts about it but one of the things that pushed me over the edge was the condition. "Why would anybody counterfeit anything in this low a grade with a scratch?" I never said to myself "Self, because it is a $1000 coin, you big dummy!"</p><p><br /></p><p>About a year later I was at an ANA convention when Lee Minshull came up to me with that coin and our photo certificate and a second, identical coin. I said to myself "Self, OOPS!" After the convention we did what was right. Out of curiosity, I went to the ANA Library and started looking through back auction catalogues of all the major auction houses and found several matching pieces sold over many years. I felt better knowing I was not the only one who was fooled.</p><p><br /></p><p>We published our error to warn people about the coin. Got in a couple more (that we had not certified) from people who had seen the article. Then we got in a coin along with a letter that said basically "I bought this coin from Dealer X a few years ago, and he contacted me and said that he saw your article and there might be a problem with it. He offered to pay for certification and said he would refund my money if it was a counterfeit." Very decent of the dealer. I wish I could remember his name.</p><p><br /></p><p>Well, damned if it wasn't the host coin. The "scratch" in the right field was a lamination on the coin. If you tilted the coin you could see under the metal. I sent it to a consultant for a second opinion, and he agreed it was the genuine host coin. We certified it, and I returned it with a very detailed letter on ANA letterhead explaining why this particular coin was genuine and not the counterfeit discussed on page such and such of The Numismatist. I cc'd the letter to the dealer. Never heard anything more about it.</p><p><br /></p><p>TD[/QUOTE]</p><p><br /></p>
[QUOTE="CaptHenway, post: 5162953, member: 13813"]Back when I was at ANACS I made the decision to certify as genuine a 1796 quarter with a "scratch" in the right field. Basically Good-4 condition. Had my doubts about it but one of the things that pushed me over the edge was the condition. "Why would anybody counterfeit anything in this low a grade with a scratch?" I never said to myself "Self, because it is a $1000 coin, you big dummy!" About a year later I was at an ANA convention when Lee Minshull came up to me with that coin and our photo certificate and a second, identical coin. I said to myself "Self, OOPS!" After the convention we did what was right. Out of curiosity, I went to the ANA Library and started looking through back auction catalogues of all the major auction houses and found several matching pieces sold over many years. I felt better knowing I was not the only one who was fooled. We published our error to warn people about the coin. Got in a couple more (that we had not certified) from people who had seen the article. Then we got in a coin along with a letter that said basically "I bought this coin from Dealer X a few years ago, and he contacted me and said that he saw your article and there might be a problem with it. He offered to pay for certification and said he would refund my money if it was a counterfeit." Very decent of the dealer. I wish I could remember his name. Well, damned if it wasn't the host coin. The "scratch" in the right field was a lamination on the coin. If you tilted the coin you could see under the metal. I sent it to a consultant for a second opinion, and he agreed it was the genuine host coin. We certified it, and I returned it with a very detailed letter on ANA letterhead explaining why this particular coin was genuine and not the counterfeit discussed on page such and such of The Numismatist. I cc'd the letter to the dealer. Never heard anything more about it. TD[/QUOTE]
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