PCGS mechanical error
1madman
Posts: 1,580 ✭✭✭✭✭
I think pcgs got this one wrong, and it’s quite a costly error. The cent is definitely dated 1989, and I can’t be sure of the dime date, but I think it’s a 1989 as well.
If I bought this coin at $2,700, and it’s actually worth more like $700, who covers the difference?
Pcgs may want to try and get this one back to fix the label before someone gets hurt.
0
Comments
Here’s the trueview
Yeah, impossible.
What's the costly error bit? The 1980 on the label or citing the 89-P date on the dime where it is not complete enough to make that call? PCGS doesn't pay claims for obvious mechanical errors like the 1980 date. Complicating matters is the fact that there's no PCGS price guide for error coins. If you bought it for $2700 on the open market, you're establishing the value for that coin at $2700.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
The coin- even correctly identified on the insert is worth much more than $700. as you state. A struck cent on a dime planchet is worth about $700. so a cent struck on a struck dime planchet is worth much more and given the grade- imagine it is worth the asking price on the listing.
On a side note- even the seller realizes PCGS's error and tongue-in-cheek- makes fun of PCGS for it.
peacockcoins
Isn't seller pretty clear in his description that PCGS probably got it wrong?
bob
vegas baby!
I sold my eleven cent piece last year for $700.
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
If you bought that coin for $2700, it is worth $2700 and no one covers the difference. It is properly advertised despite the "mechanical error".
It is interesting that the seller is basically asking for a problem to arise. I didn’t realize the value of this type of coin isn’t well known here. If this coin was an ‘89 cent on an ‘89 dime (which it is) it’s worth ~$700-$1000. If this was an ‘80 cent on an ‘89 dime it’s worth ~$2500-$3000.
If it was a 1980 on a 1989, it would have to be at least 6 figures
Definitely a 1989, you can see the style of the first 8 is that of a small date, which was introduced in 1982.
Type collector, mainly into Seated. -formerly Ownerofawheatiehorde. Good BST transactions with: mirabela, OKCC, MICHAELDIXON, Gerard
If it were a 1980 cent on a 1989 dime, the value would be zero, since it would be an obvious counterfeit.
$2875 for a similar authentic coin
https://coins.ha.com/itm/errors/1999-cent-struck-on-a-1980-d-dime-ms66-ngc/a/1137-930.s?ic4=ListView-ShortDescription-071515
Not exactly. That coin has the two strikes happening in the right order. The mechanical error (i.e. wrong date) implies the first strike happened after the second.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
To be more explicit, you can't strike a 1980 coin over the top of a 1999 coin. That's the time travel joke the ebay seller made.
@1madman I just acquired a coin that was a quarter and marked a half dollar. I called PCGS Customer service, and they sent me a pre-paid return label and all the info I needed to get the label corrected too. I've sent the coin back and they sent me an email that it had been received. Definitely call PCGS customer service and they will help you with the mechanical error (ME). They were really helpful and what a great group to work with too.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
I guess what my original point for this thread is should pcgs bear any responsibility for making a rather expensive mechanical error if a coin like this sells for multiples of what it’s actually worth?
Yes, the eBay seller should definitely be contacting pcgs and getting the label corrected, but what if he unknowingly paid $2,000 for the coin, and is now unknowingly trying to sell it for $2750?
Aren’t we (pcgs members) paying the $65 error fee to ensure we get accurate descriptions on our coins?
PCGS guarantees usually don't cover obvious mechanical errors, do they?
And the current owner and next owner both know what the true designation should be do neither of them have any damages.
But does this fall under the obvious mechanical error category?
If JWP gets a quarter and it’s marked as a half dollar, that seems fairly mild. But if you’re saying that an ‘80 cent on an ‘89 dime is worth $100k+, it’s a little more serious.
More like mint employee caused errors
Mike
My Indians
Dansco Set
Here is another cool one:
(On a side note: These errors in the lofty grade of MS67 are scarce and worthy of a hefty premium.)
peacockcoins
"Mechanical error" is what the TPGS's call a label error.
You can't have an 80 cent on an 89 dime.