PCGS 1804 Large Cent

Zoins · April 16, 2007 3:52AM

There's a PCGS 1804 Large Cent being discussed ATS after it was highlighted in the EAC Region 8 email that might be an interesting read.

coinlieutenant · April 16, 2007 3:56AM

poof coming I would guess.

Pentimento · April 16, 2007 3:59AM

Thanks for the link!

Shortgapbob · April 16, 2007 4:02AM

Very interesting. I guess it shows the importance of paying close attention to any coins you are buying, even slabs.

RYK · April 16, 2007 4:09AM

Wow! 200, if you juice up the title (ie. counterfeit 1804 large cent slabbed by PCGS).

Regulated · April 16, 2007 4:14AM

What a bummer. That being said, I am certain that PCGS will belly up to the bar on this one; ultimately, this thread is a good argument for having the grading services around.

ColonialCoinUnion · April 16, 2007 4:20AM

<< Very interesting. I guess it shows the importance of paying close attention to any coins you are buying, even slabs. >>

You might be right.

Shortgapbob · April 16, 2007 4:32AM

I'm not an early copper expert, so does anyone know what the major differences are in the 1804 cent and the 1804 restrike that I believe was around 1860?

Zoins · April 16, 2007 4:44AM

The restrike is discussed on the coinfacts.com 1804 LC page.

RareBronzeCollector · April 16, 2007 6:03AM

Another reason to look at, study, and buy the COIN.........

rays · April 16, 2007 6:12AM

I had a Thread about this coin as it was in eBay. I'm glad now I didn't bid.

TwoSides2aCoin · April 16, 2007 6:36AM

2007 Red Book states:

<< All genuine 1804 cents have crosslet 4 in date and a large fraction. The 0 in date is in line with the O in OF on reverse.

A restrike 1804 was manufactured from discarded mint dies. An altered 1803 die was used for the obverse and a die of the 1820 cent used for the reverse. They were struck circa 1860 to satisfy the demand for this rare date. Known as the "restrike, " the product actually is a combination of two unrelated dies and cannot be confused with the genuine. >>

MrEureka · April 16, 2007 10:45AM

ultimately, this thread is a good argument for having the grading services around.

It's good if you want to keep someone comfortable with his coin buying habit. It's bad if you want to attract first time buyers. After all, the first time buyer wouldn't even consider the risk that the TPG could make a mistake like this.

Bottom line: I predict this thread will soon be poofed.

Zoins · April 16, 2007 10:53AM

<< 

<< ultimately, this thread is a good argument for having the grading services around. >>

It's good if you want to keep someone comfortable with his coin buying habit. It's bad if you want to attract first time buyers. After all, the first time buyer wouldn't even consider the risk that the TPG could make a mistake like this.

Bottom line: I predict this thread will soon be poofed. >>

As long as PCGS will buy the coin back, as Ron has said they would, there shouldn't be an issue with first time buyers because they will know they are protected with PCGS. One comparison may be with money market funds which are a much larger business. Money market funds are not FDIC insured but every single one that has gone under has been redeemed at full value to ensure continued confidence in money market funds in the general public.

MrEureka · April 16, 2007 10:59AM

As long as PCGS will buy the coin back, as Ron has said they would, there shouldn't be an issue with first time buyers because they will know they are protected with PCGS.

It doesn't matter if you think there "should be an issue". PCGS seems to disagree. Theyt have poofed previous threads about their mistakes and this one is bound to follow shortly.

Coin Finder · April 16, 2007 11:18AM

PCGS will buy back the coin. I had one similar a long time ago, it rarely happens with Large Cents. PCGS is pretty good with these. I cannot speak for NGC or ANAcs

foxxze · April 16, 2007 11:42AM

hey Pharmer ...............any comments about this fake coin in a PCGS holder ?

RYK · April 16, 2007 11:53AM

Bottom line: I predict this thread will soon be poofed.

So long as the conversation remains civil, no way this thread gets bagged. No way.

NumisOxide · April 16, 2007 12:00PM

Nobody's perfect but this reinforces the rule to buy the coin not the holder.

homerunhall · July 17, 2007 6:52AM

For anyone's who's curious about the problem 1804 large cent.

We did end up buying back this coin under the terms of our grading guarantee.

It was an altered date. Not sure how it got by our guys, but it did...so we took care of it.

David

dan8402 · July 17, 2007 7:00AM

<< For anyone's who's curious about the problem 1804 large cent.

We did end up buying back this coin under the terms of our grading guarantee.

It was an altered date. Not sure how it got by our guys, but it did...so we took care of it.

David >>

Good to see

eyoung429 · July 17, 2007 7:00AM

Good to hear that!!! It's good to see companies that stand behind their work and word!!!!

KUDOS!!!

RYK · July 17, 2007 7:02AM

<< For anyone's who's curious about the problem 1804 large cent.

We did end up buying back this coin under the terms of our grading guarantee.

It was an altered date. Not sure how it got by our guys, but it did...so we took care of it.

David >>

That would be my expectation. Everybody makes mistakes.

LeeG · July 17, 2007 7:04AM

PCGS has always done right by me on grade guarantee concerns!

joecopper · July 17, 2007 9:35AM

Something poistive for slabs -- but I still do not like them for copper except for a few exceptions such as 77 IHC and 22 no D for resale.

NumisOxide · July 17, 2007 9:45AM

Rob790 · July 17, 2007 10:05AM

All I see is one coin pic from CoinFacts with some reference to an ebay coin with no auction pictures to compare to.

Couldn't find the original auction to this the supposed fake.

Anyone have the original auction link?

Writersblock · July 17, 2007 11:44AM

Conder101 says:

"Sorry about the missing pictures. My photohosting site closed down three days ago and all the images went with it. I do have the images on another computer. I will try and get them uploaded tomorrow and have Writersblock post them here."

Images from Coinfacts

Images from auction. Easiest way to know that it is fake, note position of berry compared to E of ONE. Also not the gap between the ends of the wreath compared to the ES above it.

I'm glad to hear that it made its way back to PCGS and was removed from the market. I had been in contact with the buyer before he received it and showed him that it was fake and he agreed but then I lost touch and I never found out if he was able to send it back and get a refund.

DRUNNER · July 17, 2007 1:39PM

Just saw this and am impressed by the follow-up, the notification (not necessary but welcome), and the direct professionalism. Imagine being in a business where you basically have to be 99.999% perfect all the time or you get crucified in public. It would be tough, but that's why they get the big bucks. Cops can't match this . . . doctors can't even come close . . .and sheetrockers, plumbers, and basically everyone else has a higher 'failure rate' than the top TPGs. It's refreshing to see that no matter the circumstance, PCGS will stand by what makes it different from the third-world holders . . . the guarantee.

Bravo. It's why a PCGS holder is generally a premium . . .

Drunner

Shortgapbob · July 17, 2007 3:45PM

Way to go PCGS for taking care of the issue and informing us about it.

PCGS 1804 Large Cent

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