When your lowball bid wins....there must be something wrong!!!! NGC did it again!
RLSnapper
Posts: 579 ✭✭✭✭✭
Soooo.....I put in a bid for $475 on this NGC MS63 1846 N-11 Medium Date a few days ago just for kicks. There is no way this bid wins....PCGS price guide for MS62 is $800. Much to my surprise I wake up and find I won the lot in Ebay for $456. Immediately I sense I missed something.....sure as hell when I look up the cert. on NGC and zoom in the pics....SOB...it ain't a Medium Date...it's actually a small date...N-8 variety.
How did NGC screw this up?..I know you will say mechanical error....but I don't think so...more like attribution error. Now that being said....the price I paid was fair for an N-8. The question I have is what do I do now?
It was my error for not doing my homework so I won't return the coin. I have 2 other coins for cross over ..I will add this to the cross over pile and cross it as an N-8 when my membership renews in September and I get the 4 vouchers. This would be the path of least resistance.
Does anyone have any other ideas? I am disappointed in myself for being lazy...lucky I didn't overpay for what the coin actually is.
Here is the culprit.
Comments
If it is indeed what you say it is. That is a human error not mechanical error.
Martin
You’d think that the original submitter would have corrected it, but I guess since it was advantageous not to do so…
Would not NGC cover the error? I would contact them by phone and explain you trusted their judgement to be accurate. Good luck.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Maybe the original submitter didn’t know that the attribution was incorrect. It happens.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
All "mechanical errors" as TPGs use the term are human errors.
I have been slowly collecting a date set of large cents, mostly in Mint State, but not all of them. I find that coin attractive, so I wouldn't be kicking myself over that one.
The varieties don't mean anything to me. In fact I avoid the rare ones because I don't want to pay a premium.
I can remember only one time when I won an auction lot with a cover bid. It was a Sam's Inn Civil War Token. I don't know how it got through a Joe Levine Auction, but it did.
Well then that settles it. (We make mistakes and you are out of luck). I would hope not. But not much surprises me anymore
Martin
Send it to PCGS for crossover and correct attribution. Path of least resistance ? Dare I suggest JA's Company ?
I'm glad you didn't overpay. The coin looks good.
I may get chastised for this comment, but with so many variations, attributions, grades, and variables, I just don’t understand how even an expert can grade a coin in a matter of seconds. Just seems there is a lot more to see than can be done in such a short cursory look. I realize they grade a LOT of coins and that many are the same thing over and over and over such as ASE’s, but the older coins seem to me they might need a better look for just what we are seeing posted here. A buyer of a slabbed coin shouldn’t have to second guess what the coin actually is as that is the reason the coin was sent in in the first place, correct?
purchased a wrongly designated Canada 1966 Dollar as a Large Beads Dollar. Not rare.
NGC says it is a Large Date Beads.
The fact is, it is 100% a Small Date beads PL65, 1966, a very scarce and high-priced coin.
I contacted NGC. Was told by a telephone lady in a very snippy way: If you do not like our grading, you can always send it back and our experts will look at it.
end of communication...
it is an excellent deal for me as th SB 1966 is priced at over 5K. the LB is around $ 300.
What would you guys have done?
@yqq the original submitter was short changed by the grading services mistake. If you are indeed correct
Martin
There's a lot of that going around. This person is selling a 40-P small date as a 40-(O) medium date because a TPG sucked at basic variety attribution. Even though I posted about this mistake here and have contacted the seller four times and eBay 3 times, this offer still continues. I have received no replies from eBay other than they will look into it a week ago.
ebay.com/itm/305340400197
I would flip it and find a coin I like in the holder I prefer.
I would still contact NGC to find your alternatives and if no help there, then I would do as previously suggested and send to PCGS and have it attributed. Unless, you wish to sell it, then place on Ebay for your original cost plus 20% BIN with make offer and hope for best. JMO
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
As far as 1846's go, it's a beautiful coin so I wouldn't return it...
FWIW.. I had a similar situation with a Morgan Dollar in a DMPL holder. I didn't see the "no returns" policy when I bid and ended up winning the auction (error on my part). The TV glamour shot looks much better than the coin in-hand. This is likely one I'll put up in an auction with a 99 cent starting bid... tuition sucks... :-/
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The 'ol reverse cherry pick...
It's a nice coin. Nothing wrong with hanging onto it as is.
Smitten with DBLCs.
They can't grade and attribute (most? many?) varieties that quickly. That's why variety attribution is an additional fee, because it takes them a bit of extra time to do the attribution.
OH, I am 100% correct on this one
Did post the evidence before
https://forums.collectors.com/discussion/1019593/canada-1966-small-bead-dollar-wrong-designation-by-ngc-of-a-key-and-well-known-mint-error
So did you have the coin graded again?
no still have it. wanted to send it to ICCS or CCCS
border paperwork is way to damn complicated to send to our host.
seriously consider selling it after ICCS.
H
That's a nice looking coin!
I agree. I've NEVER had an issue with NGC correcting an error. They even pay postage both ways. By putting "ME" (Mechanical Error) on all sides of the box, it's opened immediately. I always have it back within a couple of weeks or less.
NGC did it again......can't correctly attribute an 1846 LC.....what a joke. This is another small date called a medium date. Seller on Ebay wants big $$$ for it. Should I contact the seller?