False rumors!

MrEureka · April 12, 2003 11:01AM

Truth has no place in this thread. Let the rumors fly!

lathmach · April 12, 2003 11:05AM

Well ok here goes.
I heard from a reliable source, that said he knew for a fact after hearing about it while sitting on the john at a coin show, listening to a couple guys at the urinals, that EurekaTrading was going belly up.
How's that for rumor starting?

Ray

Wolfy00002 · April 12, 2003 11:07AM

Wow, what a coincidence, I was on the other side of them!

ccr · April 12, 2003 11:08AM

I heard Lucy sold all of her Franklins to finance her project on proving that Elvis is alive and living in Graceland.

jeffnpcb · April 12, 2003 11:09AM

I heard through a second cousin related to a fifth cousin that all PCGS graded Franklins with FBL's had to be resubmitted because they realized there is no such thing as FBL! All coins will drop to MS 61 because they are too UGLY to be classified as true US coinage and no vending machine would take them when they were minted!

Bear · April 12, 2003 11:14AM

I heard that Anaconda was selling circulated state quarters.

Russ · April 12, 2003 11:21AM

I heard that Russ has a new goal of making the first ever PR69DCAM Accented Hair.

Russ, NCNE

Blade · April 12, 2003 11:27AM

Check this out:

Associated Press, Dateline: Saturday, 4/12/03 09:30
Headline: Coin Collectors stunned by rare find in Swiss branch of Deutch Bank

The rare coin market is in a tailspin after a bank manager opened a sealed vault Friday, April 11 at the Deutch Bank located in Geneve, Switzerland. Over 1/3 of the 10 meter by 20 meter vault was filled with original US Mint bags of coins minted between 1867 and 1945. Some of the once-rare coins found include:

1,000 1895 $1 silver uncirculated coins. These were thought to have only been stuck in a special "proof" minting process

5,000 1927-D $20 gold "Double Eagles". These were very rare previously and much sought by gold coin collectors

2,000 1933 $10 gold "Eagles". The US Government had intended to melt all of these coins yet 2,000 found their way to this European vault

Numismatic experts will be combing through the hoard for months, as there are over 20,000 uncirculated Seated Liberty coins from the 1800's and over 100,000 gold coins of various denominations.

---END---

jonesy · April 12, 2003 11:32AM

The Mint is going to replace the sacagawea dollar with Ronald Reagan Dollars. PCGS has already has made provisions for the " full turkey neck " designation for them.

Glenn

BillJones · April 12, 2003 11:37AM

None of the gold in Fort Knox was actually melted and turned into bars. All of the gold coins that were turned in after the 1933 Gold Surrender Order are intact and hanging over the market.

Many collectors are now bailing out of their collection before the anticipated crash. Some old timers are saying the it could be a worse than the 1962 "blood bath" when the value of the 1903-O silver dollar in BU fell from $1,500 to $15 in a matter of weeks.

DCAMFranklin · April 12, 2003 11:45AM

I heard Anaconda is selling coins with a 1c start and NO Reserve.

LINK

Oh that's right, he really is doing that.

Typetone · April 12, 2003 12:06PM

Laura is buying NGC 69UCAM moderns!

Greg

kranky · April 12, 2003 12:08PM

Direct from the pages of this week's National Coin Enquirer:

Dave Bowers is in negotiations to take the Senior Grader position at NTC. Sources close to the talks say the offer on the table includes an $85,000 annual salary, a relocation allowance, and 500,000 free submissions.
A report will be released by the National Testing Institute next week that reveals which slabs leach sulfuric acid when stored in a dark, low-humidity environment for over five years. It's rumored that six different grading outfits will be named. While we were unable to obtain the names of the companies involved, the dangerous slabs are said to include both clear and white slabs.
Don Kagin held a news conference last Wednesday where he announced he is voluntarily relinquishing his Ph.D. in Numismatics. When asked why he would surrender such a prestigious title, Kagin said, "I'm tired of trying to explain what type of Coin Doctor I am."
Acme Chemical company announced a recall of their newest product, "Nuke-A-Date". A company spokesman explained that they misunderstood what type of chemical solution that coin collectors were looking for. "Apparently, there is little interest in a solution which removes the date from coins. We apologize profusely to the collectors who have had their coins affected," said Acme's press officer W. E. Coyote.
U.S. Mint employee Rakin D. Bux was awarded the Director's Medal of Merit for 2003 at a ceremony held at the Philadelphia Mint last week. Bux, who also received a $500 cash award, had the winning suggestion for increasing profits in the "Use Our Excess Capacity" contest in which Mint employees contributed their ideas for ways to keep the Mint running at full capacity. The Mint said Bux's idea will be put in to effect sometime this summer. Bux's winning idea was for the Mint to allow collectors to order restrikes of prior years' coins from any year and design they wish, with the single exception of the 1933 Double Eagle. Prices will start at $10,000, plus $7.95 shipping and handling.
A proofreading error led to an explosion in the number of numismatists who applied for membership in the PCGS Collectors Club last month. Coupons that are sent out with Collectors Club kits should have been good for five free submissions, but recent kits accidentally had coupons good for five free crossovers. PCGS said they regrettably cannot honor the misprinted coupons, and will be replacing the incorrect coupons in anywhere from 50 to 75 business days. PCGS President David Hall said that "we don't like taking so long, but we don't want to have apprentices sending out coupons, and I'm sure our club members would agree."

MrEureka · April 12, 2003 12:14PM

Kranky Wins 2003 NLG Award! (Maybe not a rumor?)

Bear · April 12, 2003 12:16PM

Kranky, yours would appear to be the best post of the day.

Russ · April 12, 2003 12:18PM

Yep, Claw needs to be giving Kranky a POTD Award for that one!

Russ, NCNE

CLASSICS · April 12, 2003 12:30PM

<< <i>I heard Lucy sold all of her Franklins to finance her project on proving that Elvis is alive and living in Graceland. >>

.................no no no...lucy is ...buying graceland..........

sinin1 · April 12, 2003 12:35PM

how about this one -

PCGS has decided to suspend indefinitely all show grading services because 1) so many $100 a coin submitters have been disappointed at the recent shows and 2) so many $15 a coin economy submitters have been disappointed with 75 day turnaround. This suspension is indefinite and the mobile slabbing equipment will be used at the home office until the undesirable backlog is caught up. Many submitters have been looking at other grading service options and all the "real good" graders are working at PCGS already.

WWW · April 12, 2003 12:39PM

Kudos to kranky. I'm still laughing at that post.

keets · April 12, 2003 12:50PM

..........Sunshine Rarities goes belly up and is purchased by a conglommerate of PCGS Collectors Club members who promptly relocate the new "Northern-Light Moderns" to Nome, Alaska and appoint Greg Margulis as it's CEO.

al h.

FC57Coins · April 12, 2003 12:54PM

Kincoin IS the King of Coins!

MrEureka · April 12, 2003 12:56PM

Al Capone's multi-million dollar coin collection surfaces in in NJ.

DCAMFranklin · April 12, 2003 12:59PM

Not so. GMarguli was seen in the mid-Manhatten offices of Gordon Gecko. He was arranging for some junk bond financing to be used for a hostile takeover of CLCT.

GMarguli will take over responsibilities as President of PCGS.

tradedollarnut · April 12, 2003 1:13PM

After which, David and Laura will elope to the Bahamas and live happily ever after as the first couple of Nassau!

cladking · April 12, 2003 1:14PM

The fed is trying to keep this quiet, but I got this friend who knows a guy who
dates this clerk at the Chicago federal reserve. Apparently people are starting to trickle
into hospitals with fragments of dimes and quarters stuck in their legs. The coins were expected
to last only thirty years in circulation so the manufacturer only used enough dynamite
in their explosion bonding process to hold the layers together for thirty five years. The
gaurantee is now up on them and some of the oldest ones are failing catastrophically.
When this bond fails all the energy from the original bonding is released which tends to
also cause nearby coins to fail. All of the fed branches have been evacuated for up to two
miles. Banks are expected to be closed until further notice. A bill will be introduced in Congress
to round all transactions to the nearest dollar. Citizens are being advised to use extreme care
around change jars and piggy banks and to call the Civil Defense or other local authorities to
have these items removed from their homes.

Most victims so far have been men who carry old coins in their pants pockets. Many reported
jostling, or jiggling the coins right before they exploded. Joggers are advised that they are at
extreme risk.

MrEureka · April 12, 2003 1:16PM

After which, David and Laura will elope to the Bahamas and live happily ever after as the first couple of Nassau!

TDN, do you get to give Laura away?

FC57Coins · April 12, 2003 1:18PM

<< <i>Most victims so far have been men who carry old coins in their pants pockets. Many reported
jostling, or jiggling the coins right before they exploded. Joggers are advised that they are at
extreme risk.
>>

The real reason why the Good Humor Guy had to retire!

joejeweler · April 12, 2003 1:21PM

In an effort to "get it right" the first time.......PCGS and NGC are merging in a way to achieve consistancy and speed turn around times! Speed will be increased because the coins will be shuttled between services on a state of the art vacumn tube system similiar to a banks. Occasional "lost" coins will be replaced with a coin of their choosing........but not a big deal! Your proof Liberty Seated half will be replaced with a comparable 50c piece......a Kennedy half! Two Washington Quarters could also be selected in this instance....dates of their choosing. Turn around times will also be improved thru a timing system which sends a shock thru the grader if he takes more than 10 seconds to look at your coin......(er, per side that is.......have to be reasonable here).

Specifically......coins sent to PCGS will be sent thru their "normal" handling proceedures, and grades assigned after at least 3 graders have rendered their opinions. (only one needed if you send in a "bribe" with the submission!)

Next the coins will be sent to NGC's "conservatory" branch to remove all fingerprints and other snafu's from those "normal" handling proceedures at the initial service, ......and subsequently upon which NGC graders will determine their grade and add a star* where appropriate! If the grades aren't within 3 points of each company's "average"......someone at each service will be "canned"......GUARENTEED!

The coins will then be holdered in a NEW holder .....incorporating the most liked features of the individual services.......based on what the submitter wants! Sort of like "Have it your way" at Burger King!

Costs will be a "little" higher this way.......as each service wants the full amount previously billed! Word out was that the collectors won't mind the doubling of charges here.....as it was heard by someone in management stating: "heck......the dummies don't mind sending their coins to us now multiple times until we get the grades almost right........they're actually going to save money this way!".

Oh, almost forgot.......a new premium service will be instituted with this merger! You can now elect to have your coins graded "Early Bird"....but now it will mean your coins will ONLY be looked at during the SECOND HOUR of a grading day........when the eyes are still fresh and the nerves and senses are sharp!

Why not the first hour you ask? Well, that's the 2nd tier service before the graders have had their coffee and donuts!

Joe T

lclugza · April 12, 2003 2:04PM

Ten of the largest and best known retail dealers all agree: The rare coin market is ICE COLD and getting COLDER! "We decided to finally tell it like it is," says huge dealer Jim Proof, "even if it costs us business because of collectors holding off buying in a down market."

US Supreme court rules "clad" coins and designs of presidents are both illegal, U.S. Mint must immediately go back to gold and silver and portraits of Liberty on our coins. There is much speculation as to what the government will do with all that metal once the clads are melted.

10,000 pre-1934 Proof U.S. gold coins found in Philadelphia vault. Prices of some dates expected to drop by 50% or more.

Q. David Bowers named new Collector's Universe CEO.

2003 cent in PCGS PRF70 DCAM sells for over 15 million dollars.

New trend in collecting: Well-circulated coins, Coins without the date are considered rare and in many cases are selling for many multiples of the price of a "Good" or "Very Fine." "In many series, a no date coin has a pop below 10, while there are hundreds or thousands of MS65s. Look at Kennedies, Ikes, Roosevelts..." says Brad Dateless, a major dealer in this type of coins. "A major problem, however," he continued, "is the large number of artificially dateless coins on the market. We will only sell, and PCGS will only slab, the coins that have lost their dates through normal circulation wear. The other day some guy tried to sell us some dateless coins that he put through a rock tumbler. Luckily I spotted those fake dateless coins that he was trying to rip us off on."

lclugza · April 12, 2003 2:35PM

PCGS decides to drop numerical grading. "Our graders had trouble telling an MS64 from an MS65 from an MS66," says PCGS spokeman Stan Slab, "so we decided to end all the confusion and go back to the way things used to be. For instance, all uncirculated coins will be graded simply as 'Uncirculated' and all proof coins will be graded simply as 'Proof." NGC is expected to quickly follow suit; "Do we really need numerical grading? I don't think so. Collectors in the US went for decades without it. Most collectors can't tell one grade from another anyway," says NGC spokesman Isaac "Ike" Dollar.

northcoin · April 12, 2003 2:37PM

Officials have just learned that the bunker buried below the recently demolished residence in Baghdad where Saddam Hussein was believed to have perished is also a depository for the Bank of Iraq. As we speak Collectors Universe and PCGS are assembling a team to retrieve numismastic specimens which will be sealed in slabs identical to the World Trade Center Recovery ones except that an Iraqi flag will be substituted for the U.S. Flag.

jonesy · April 13, 2003 12:55AM

maddogale · April 13, 2003 1:09AM

Rumor has it that Russ is actually LucyBop!!!!!!!!!!!!!!!!!!!!!!!!!!!

"Truth" is that Anaconda is actually in the process of acquiring the world's finest PO-1 set!!!!

LucyBop · April 13, 2003 1:20AM

Piker!

Russ NCNE

lclugza · April 13, 2003 2:37AM

The U.S. Mint has announced it is recalling all the "Sacagawea" dollars because they were made with an improper alloy and they are contaminated with mercury, a hazardous substance. If you have any of these coins please handle them with gloves-- NOT your bare hands-- and return them to this address:

Sacagawea Recall
1234 Dollar Drive
Hanging Chad, Fla. 23456

Remember, DO NOT handle them with your bare hands. Replacement dollars made of the correct alloy will be sent to you in 6-8 weeks.

PCGS has announced that henchforth all toned coins will not be slabbed, but instead will be "body bagged" as "tarnished." Speculation is this will mean lots of new business for coin "doctors" and manufacturers of toning removal solutions. PCGS says it will have to be on the lookout for AW (Artificially White) coins as there is expected to be a large influx of them; AW coins will be "body bagged" as "cleaned."

topstuf · April 13, 2003 3:47AM

Coin collectors will begin to look BELOW the labels on slabs THROUGH the plastic AT the COINS.

lclugza · April 13, 2003 4:15AM

Many major dealers are so sick of overgraded slabbed coins that they have been resubmitting coins they feel are overgraded to the same service, hoping for a downgrade. "I had a 1927S SLQ that was graded PCGS MS63FH," says major dealer Q. Max Overdate, "but I could see it was overgraded because of that rub on the knee. I was feeling guilty about it, so I sent it back to PCGS and got a AU58, and that's what I sold it as. Now I feel much better about the whole thing." He continued, "I also had a 1893S dollar that NGC had graded MS65PL, but I thought it had way too many marks for an MS65. So I returned it to NGC and they gave it an MS62, thank goodness it's not overgraded anymore! I also had an 1886O PCGS MS65 dollar that I thought had too many marks as well. I thought they would downgrade it to MS61 or MS62, but lo and behold it came back in a body bag! They said it was cleaned. It's sure a good thing I sent it back to them or I would never have known it was cleaned." Coin collectors say dealers such as Mr. Overdate are doing a great service to collectors by getting overgraded coins out of their slabs, into either lower graded slabs or "body bags."

BAJJERFAN · April 13, 2003 5:28AM

I heard that in order to bolster their sales EH? CEE GEEZ is contemplating a new ziploc top style of slab. One will be able to order empty pregraded slabs and instead of sending in a coin and asking for a grade you simply grade your own and put it in the slab. This means that you buy the slab and not the coin. It is then YOUR responsibilty to explain why YOUR ms69 does not conform to typical ANA standards for MS69.

oreville · April 13, 2003 6:12AM

News bulletin from the API.....

...............Internal Revenue Service is rumored to have accepted a taxpayer paying $5,000 in cents as protest to the income tax system. A senior IRS personnel is rumored to spotted the contents and turned them over to the Department of the Treasury.......contents confirmed as original mint bags of cents from the late 19th century to the early 20th century. When asked for confirmation, the Internal Revenue Service stated "no comment."

-----------------

...............In the Corporate world, it has been rumored that the 9 year old son of David Hall has taken over CLCT in a hostile take over attempt. His name is being withheld due to privacy laws involving minors. When CLCT was asked to comment, they offered no comment. David Hall could not be reached for comments. API asked financial experts how such a thing could have happened; one from New York offered that Mr. Hall must have put enough of his shares into a Uniformed Gifts to Minors Act (UGMA CA) account for his son and speculated that somehow he must have lost in a home run derby with his son. ......At this time no one has confirmed this rumor to be true.

---------------------

..............A news release from the US Mint this morning is that they discovered 100 bags of extremely rare bags of original cents dating back to the 1872 year. They indicated that whole bags were discovered for different years including the (1) 1872, 1877, and 1910 of the Indian Cent Head design (2) 1909, 1914, 1921, 1922 1926, and 1933 cents from the San Francisco Mint. When asked to respond as to whether they plan to dispose or retain these rare bags, they offered the following statement...."We are investigating all options at this time"

------------------

..............A news release from the US Mint is as follows: " We intend to obtain approval from the American Numismatic Association (ANA) to be a duly certified grading service." More on this on a follow up bulletin

islemangu · April 13, 2003 7:37AM

NGC slabs can be openned with hot needles replacing coin and resealing again

My ebay auction(s)

joejeweler · April 13, 2003 9:38AM

Good luck.....hasn't happened yet for a lot of collector/investors! Sometimes wonder if the finalizer looks also?

<< <i>Coin collectors will begin to look BELOW the labels on slabs THROUGH the plastic AT the COINS. >>

jonesy · April 14, 2003 6:16AM

FULL TURKEY NECK!!

False rumors!

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