How? New "top pop" 1874 T$
stealer
Posts: 4,012 ✭✭✭✭
Context: NGC MS67+ 1874 T$
I saw this coin listed on GC a few days ago without any images, and was looking forward to seeing images of it as the only other coin in this grade level is the 67 from the Legend set, which is a killer coin.
Fast forward to today and they list images of the coin:
I keep looking at it thinking "man, I've seen this coin before somewhere, and it definitely wasn't in a 7+ holder...". I dig around for a few minutes, looking at 66 auctions, even 65.
Then I remembered seeing this coin on GC a few months prior and...the graders at NGC must be on something. They're a tad late for April Fools...
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Comments
Didn't realize splotchy with obvious hairlines on the obverse was the "in" look right now. I should submit some of my coins to NGC. They must be going with the "scorched earth" policy to win over the market.
Someone made a killer cherrypick, whether the coin deserves the grade or not. Bashing NGC over this is a fruitless endeavor as shown many times on the forums, many overgrazed examples from both services can be easily found.
Probably just a rather large mistake.
Coin Photographer.
Deciphering GC pics is an art form.
Sometimes you win, sometimes you lose.
Same with TrueViews.
I'm well aware of this as my "edge" in the market is buying raw coins on eBay and getting them graded, and selling it as such, and do decently well at it.
This is another level to make a new top pop coin, especially when it is very blatantly undeserving of it...
I won't argue that point.
It looks better than 64 to me though
What did it bring in the 64 holder?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
"I informed you thusly" ATS seems to be looser on their grades than our host.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
$3200, pretty standard non-CAC 64 money.
Thank you.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
So, for all the non-US collectors, what's the price difference between the grades? (Whether deserved or not)
8 Reales Madness Collection
Have you checked CoinFacts?
Probably a $30000 coin now.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
If it was a "true" 7+, the sky would probably be the limit. The last APR was a PC66 (that upgraded to 6+) which sold for $63k in 2019.
In other words, an absolutely offensive upgrade.
Yeah there's no way this sells for that money tho. Maybe 40 if some folks really like it.
I think there is a question of if NGC calls it a mechanical error or if they stand by it.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
That's why you need to pay discount on some of the NGC graded coins. I know some people don't like to hear it but that's fact.
Went from under-graded to over-graded
That is quite the upgrade. 3+ points
With the volume of coins that are graded every month, even if they do a great job, every company under-grades and over-grades more than a few.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Sure but NGC over graded a lot compare with other companies. SB send all the raw coins to PCGS because SB knows PCGS graded coins gets more loves by bidders. But I also want to be fair with NGC, they generally do a great job on modern coins. I heard from many buyers that they like NGC graded modern coins.
It's one thing to overgrade a coin. It's an entirely nother thing to create an uber conditional rarity outta thin air. How many BS trades are graded 67 or better at both services across all dates?
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Ugly. Eye Appeal trumps.
I don’t disagree with that, but I was replying to the post I quoted.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Also how come that ngc coin did not has a photo on ngc site? It is not a old holder. It should has a photo.
And this is why I don’t collect series any more. Pffft
i wanted to be sure it wasn't a mechanical label error and verified the CERT.
here are some areas that just kinda jump out at ya.
There's a good chance this one gets the "mechanical error" treatment. It is clear the coin is not a 67+. It will be interesting to see how the bids pan out.
Coin Photographer.
Interesting situation... I would bet that we see this revisited soon.... Maybe, but might sell first. Cheers, RickO
Wonder if this one is being discussed on the forum ATS?
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
NGC has pulled the cert.
https://www.ngccoin.com/certlookup/6266691-004/67/
@ianrussell I'm sure they've reached out but just making you aware if they haven't.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Perfect response to the development above ^
Based on the TV & GC images, I don't think this coin is undergraded. Will be interesting to see
1. if the coin is pulled from auction
2. if it shows up in a new holder, what the grade will be
4 is next to 7 on the keypad... just saying.
Someone should have caught that though.
Collector, occasional seller
And just like that, poof, the coin is no longer at auction.
That’s a disgrace. A 3+ point jump. Didn’t even look 64 lol
Someone owns this coin. I imagine he just got some unpleasant news.
This is true, but as the coin sold in September of 2021, it is likely that the owner knows exactly what holder it came from because of the way turnaround times are. They likely didn't ever expect a 67+ if that was true.
If it's not the person that originally bought the coin, then I'm not sure how to feel. A quick glance tells it is not a 67+, so I can't feel as bad as if it wasn't so blatantly obvious. It is a $40k coin in this holder as someone posted earlier, and at that price level you should know your stuff IMO.
Coin Photographer.
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