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Fake sets are starting to populate the Registry...especially in Lincoln cents

I have a strong suspicion that PCGS's own photos are being used by some unscrupulous and nefarious users to create the best sets in some of the Lincoln series...It is odd that the same coin being used to demonstrate a coin shows up in someone's set...PCGS needs to check the certification numbers to ensure that they are legitimately held coins...

Comments

  • retirednowretirednow Posts: 442 ✭✭✭✭✭

    I do not think it is possible to post a cert # in a registry if it already registered in either a set or a private inventory, unless the owner releases the piece, (ie unregistered it ). However, I will speculate, someone could find a Cert number's not registered out in the market place and register it as their own by adding it to a set ( even if they do not own the piece).

  • erwindocerwindoc Posts: 4,893 ✭✭✭✭✭

    This has been a problem for years both here and at NGC.

  • coinbufcoinbuf Posts: 10,616 ✭✭✭✭✭
    edited January 26, 2024 10:02AM

    This has been a huge issue at NGC for a couple of reasons. First many people on this forum have commented on how they will use an old NGC cert after they crossed a coin to PCGS at a lower grade. To me that is a misrepresentation as the coin no longer resides in that NGC slab, but there is no way to verify or police this type of activity. And secondly, because NGC allows the use of PCGS graded coins it is very easy to add any PCGS coin to a set on the NGC registry without actually owning it. All NGC does is verify that the cert is active and valid, not who actually owns it.

    Imo NGC should at least require a photo of the PCGS coin, with a current date reference in the photo, when registering a PCGS coin for use in that registry to cut down on the fake sets. I have on several occasions been able to track PCGS coins newly listed on the NGC registry back to multiple different owners on the PCGS registry.

    But I also am guessing that policing the registries here and at NGC would require more manpower and time than either firm is willing to allocate; so fake sets are just one of the pitfalls of the registry.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • braddickbraddick Posts: 22,830 ✭✭✭✭✭

    People cheat?

    peacockcoins

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