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Switching coins inside slabs
blu62vette
Posts: 11,902 ✭✭✭✭✭
A while back I bought a common MS65 Morgan off EBAY. The seller had a buy it now for way to low ( I think he listed a 64 price instead of a 65) I paid, he sent it, left feedback and never said a word about the price.
When I showed it to my local B & M shop he seemed to question whether or not someone had broken the slab and changed the coin. The coin is great looking I think closer to an upgrade than a downgrade so I dont see that being the possibility at all.
My question is can people really do that? I am sure they can but how common is it? If someone were to try that would it be very obvious? I have never worried about that when buying a coin. My experience on the coin above really doesnt matter, just giving some background for the question.
When I showed it to my local B & M shop he seemed to question whether or not someone had broken the slab and changed the coin. The coin is great looking I think closer to an upgrade than a downgrade so I dont see that being the possibility at all.
My question is can people really do that? I am sure they can but how common is it? If someone were to try that would it be very obvious? I have never worried about that when buying a coin. My experience on the coin above really doesnt matter, just giving some background for the question.
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Russ, NCNE
<< <i>A while back I bought a common MS65 Morgan off EBAY. The seller had a buy it now for way to low ( I think he listed a 64 price instead of a 65) I paid, he sent it, left feedback and never said a word about the price.
When I showed it to my local B & M shop he seemed to question whether or not someone had broken the slab and changed the coin. The coin is great looking I think closer to an upgrade than a downgrade so I dont see that being the possibility at all.
My question is can people really do that? I am sure they can but how common is it? If someone were to try that would it be very obvious? I have never worried about that when buying a coin. My experience on the coin above really doesnt matter, just giving some background for the question. >>
IF the coin is in a PCGS holder:
99% Chance the dealer disagrees with the grade
1% Chance the coin was switched
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>Never heard of someone taking a coin inside a slab and replacing it with another one without breaking the slab. >>
Unless Houdini is back in town.
Of the major companies, only the new blue ANACS slabs have a high probability of coin switching, and they supposedly fixed the problem after a couple of months. In any case, a MS65 Morgan in an ANACS holder usually won't bring full MS65 money at true auction, or on the wholesale market, so be careful.
There have been isolated reports of counterfeit plastic. For now the problem is isolated and contained. Only two fake slabs have been confirmed, one new ANACS problem slab in the white holder, one NGC slab. However, in coming years, I expect counterfeit plastic, with counterfeit coins or lower grade real coins, may become a huge problem for the Ebay coin market.
ditto
I do not believe this could happen with a PCGC coin, least of all a low cost coin...if someone was that good, they'd be working mega dollar coins...
rainbowroosie April 1, 2003
<< <i>Which TPG and what generation holder? >>
PCGS rattler, it is a 1899-O so common but a rather matte looking coin with a nice die crack. I think it is a great looking coin. Still common and nothing special but a nice peice.
He followed up his statement of switching the coin with a very low price to buy it from you.
rainbowroosie April 1, 2003
rainbowroosie April 1, 2003
<< <i>How did my response show up before your photo?? Made it after I saw the slab??? Your post says 1120, mine says 1119??? TWILIGHT ZONE!!!! >>
That has been happening a lot lately...
Chris
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
<< <i>Sour grapes on the part of your local dealer. Be carefull if you pan on buying anything in the future from him, my guess is he has you fitted up with a target. BTW that is a very nice coin solid 66 could very easy go 67.
Chris >>
a 67 for my humble collection? Please, go on.... I think we have confirmed it was a good buy for $69
"If I say something in the woods, and my wife isn't around to hear it. Am I still wrong?"
It looks 66 based on your photo!!
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
David J Weygant Rare Coins website: www.djwcoin.com
It does not happen often but it IS possible.
blu62vette: In your case, that could not have happened. Lovely coin indeed vand very extremely high end for the grade.
P.S. Nice coin! If it had a little more hair detail over the ear it would be a 66.
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
Leave it in the rattler and just drool over it occasionaly.......heck, that wouldn't grade less than a 65 if a blind grader got ahold of it!!!!
Hell, I don't need to exercise.....I get enough just pushing my luck.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
<< <i>How did my response show up before your photo?? Made it after I saw the slab??? Your post says 1120, mine says 1119??? TWILIGHT ZONE!!!! >>
I posted a new topic yesterday and someone managed to reply to the topic which ended up being the second post instead of the first.
<< <i>Coin looks much better than a 65. I would be a little wary of your local B&M. >>
I'd be more than wary. I'd never set foot in that shop again, unless the OP desperately needs supplies (not coins).
The guy is dishonest and he deseves no patronage in my book. If I treated ANY customer like that I'd deserve to lose them all.
Ira
Someone took out a 65 and put in a 67!
All kidding aside, it is impossible to remove that coin from it's holder without destroying the holder (as many others have said).
That is a great looking coin for the grade in an obviously untampered with holder.
Great score!
Rob
"Those guys weren't Fathers they were...Mothers."
<< <i>
<< <i>A while back I bought a common MS65 Morgan off EBAY. The seller had a buy it now for way to low ( I think he listed a 64 price instead of a 65) I paid, he sent it, left feedback and never said a word about the price.
When I showed it to my local B & M shop he seemed to question whether or not someone had broken the slab and changed the coin. The coin is great looking I think closer to an upgrade than a downgrade so I dont see that being the possibility at all.
My question is can people really do that? I am sure they can but how common is it? If someone were to try that would it be very obvious? I have never worried about that when buying a coin. My experience on the coin above really doesnt matter, just giving some background for the question. >>
IF the coin is in a PCGS holder:
99% Chance the dealer disagrees with the grade
1% Chance the coin was switched >>
<< <i>Post a pic, if possible, so we may dismiss the faint possibility that it is really an overgraded coin. Sounds like typical BS from a dealer who says everything he sees is low-end. Yeah, sure, I bet he grades more conservatively than PCGS does. That's the norm with most small coin shops (sarcasm detected). You'll be surprised how quickly it turns into a "PQ 65+++" and is priced at 2X Trends after you sell it to the guy. >>
absotuvely!
<< <i>Just shot a cople pics but dont really have time to crop them, sorry. Let me know anymore thoughts. I think he was just mad at the price I got and couldnt accept the fact I got such a deal.
looks like a fair shot at a 66 jmo.
I knew it would happen.
is an ANA member? can the original poster find out for me? and you
might as well tell us what store so marty can go cherry pick his
inventory.
If your B&M dealer doesn't think these coins were graded accurately, he's either dishonest or incompetent. Either way, I'd stop visiting his shop.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.