PCGS Knows All.... Apparently

I think you missed the whole point of my comment to jtlee.

 

Log in or Sign up to hide this ad.

Ripping a bill in half is not comparing apples to apples. Trying to spend a 50% clipped planchet would be closer to your analogy. A better comparison to the OP coin is to take a $20.00 bill that had an offset cut, so that only half of the design was present. The OP's coin has the entire planchet still surviving, only part of the design was struck into it. But as @baseball21 said, you only need 60% of a bill to spend it. The other 40% is then worthless and the remaining 60% can be turned in to any bank at face value.

Also, the Mint does not issue currency, the Bureau of Engraving and Printing does through the Federal Reserve Banking System. The US Mint only strikes coins and medals.

 

A bill is easier to use as an example because it's readily available to you than a clipped planchet. If you need 60% of a bill for you to be able to spend it, what percent of a coin is needed for you to be able to spend it? If it's more than 5%...

 

I understand both sides of the argument, I just don't see how a blank planchet and a perfectly struck coin can have the same grade.

 

I'm not getting sucked into this petty argument anymore. This has grown old and tired and not worth my energy. You know your right and I know I'm right, no amount of arguing will persuade the other.

 

I wonder when it became "petty"...but ok.

 

It gets worse............https://www.washingtonpost.com/blog...iss-you/?noredirect=on&utm_term=.1c6f320bf9cd

 

My thought exactly. Soon, if you want to sell this coin to someone in North Carolina, you'll need to know whether it's a coin -- because coins are non-taxable!

 

To follow this tangent, how far off-center does a strike have to be to cease being a coin? Or how big of a clip? I’ve seen seen coins that have had serious (30-50%) clips/off-center strikes and yet they clearly circulated for a while. I’m sure some cents with 99% off-center strikes have circulated to some degree.

If it was struck/cast by an authority for use as money and was monetized, then for all intents and purposes it is a “coin”. A dime struck on a nail was never monetized, thus it is not a coin. A dime struck off-center, put into a mint bag, and monetized is a coin.

 

Coin or nah? It has obviously circulated.

 

Coin. I' d accept it as payment.

 

Oopsie. Just got this one in. An NGC just to be fair and balanced. Apparently the error holder makes it worth more than 10 times what it's worth in real life...

 

Maybe they thought it was struck in silver

 

And... my favorite ANACS mistake. A double whammy.
https://www.cointalk.com/threads/is-anacs-crazy-or-am-i-crazy.302604/