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MS62 instead of AU58!?! 1974 Aluminum Cent
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<p>[QUOTE="Midas, post: 79106, member: 2761"]Here we go...Coin World October 17th, 2005 issue...</p><p><br /></p><p>A couple of months back, ICG certified the only known (outside of the Smithsonian) 1974 Aluminum Cent graded as AU58. The story has it that then U.S. Capital Police Officer Albert Toven saw a US House Representative <u>drop</u> this cent in the basement of the Rayburn Office Building in late 1973. Picking it up, he ran after the representative to return what he thought was a dime, but was reportedly told by the representative to keep it.</p><p><br /></p><p>The 1974 Aluminum Cents were struck as an experimental pieces due to the increasing price of copper. 1,571,167 went struck through two production runs, 14 trial pieces were given to committee leaders so they could see how the coin would look and feel. 9 were given to House committee members and five went to Senate committee members. Other pieces were distrubuted among Mint and Treasury officials. </p><p><br /></p><p>Now after this experimental cent went no where, Mint officials asked for all of these cents back and some members claimed they lost theirs. Opps...</p><p><br /></p><p>So...30 years later, one of these pieces ends up with relatives of the late officer Toven and ICG grades it as AU58. Here's a coin that was held with other loose change and ends up bouncing around a basement floor.</p><p><br /></p><p>Wait...let's crack it out and give PCGS a swing at it. They grade it as MS62!?! Not AU55 or MS60, but a 4 point swing!?! Now, my experience with circulated coins graded by ICG is that they are tough. They may not be tough on moderns and those coins above MS68, but if you look at their circulated grades, they are very conservative.</p><p><br /></p><p>PCGS takes this coin and ups it 4 points!?!?! I would like to know how after all of the press 2 months when ICG first went public PCGS got their hands on this coin and why the 4 point swing??</p><p><br /></p><p>Constructive comments?[/QUOTE]</p><p><br /></p>
[QUOTE="Midas, post: 79106, member: 2761"]Here we go...Coin World October 17th, 2005 issue... A couple of months back, ICG certified the only known (outside of the Smithsonian) 1974 Aluminum Cent graded as AU58. The story has it that then U.S. Capital Police Officer Albert Toven saw a US House Representative [U]drop[/U] this cent in the basement of the Rayburn Office Building in late 1973. Picking it up, he ran after the representative to return what he thought was a dime, but was reportedly told by the representative to keep it. The 1974 Aluminum Cents were struck as an experimental pieces due to the increasing price of copper. 1,571,167 went struck through two production runs, 14 trial pieces were given to committee leaders so they could see how the coin would look and feel. 9 were given to House committee members and five went to Senate committee members. Other pieces were distrubuted among Mint and Treasury officials. Now after this experimental cent went no where, Mint officials asked for all of these cents back and some members claimed they lost theirs. Opps... So...30 years later, one of these pieces ends up with relatives of the late officer Toven and ICG grades it as AU58. Here's a coin that was held with other loose change and ends up bouncing around a basement floor. Wait...let's crack it out and give PCGS a swing at it. They grade it as MS62!?! Not AU55 or MS60, but a 4 point swing!?! Now, my experience with circulated coins graded by ICG is that they are tough. They may not be tough on moderns and those coins above MS68, but if you look at their circulated grades, they are very conservative. PCGS takes this coin and ups it 4 points!?!?! I would like to know how after all of the press 2 months when ICG first went public PCGS got their hands on this coin and why the 4 point swing?? Constructive comments?[/QUOTE]
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MS62 instead of AU58!?! 1974 Aluminum Cent
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