PCGS Silver Eagle

jestir

I have noticed that there are a lot of WTC Recovery Silver Eagles for sale on Ebay. There are several grades that they are selling them in also. Why would PCGS put "Gem Uncirculated" on a holder and hot a grade? What would the grade be or *why* i it not in a graded holder?

barrytrot

Hey, Conder101 please help here. You know more about slabs than anyone. Is this something PCGS does some times?

wingedliberty

It is only meant for marketing purposes. Perhaps some of the coins were tarnished and are
not gradable. Maybe PCGS thought that it was innapropriate to grade them for other reasons.
Perhaps Rick Montgomery can tell us? Rick?


Brian.

barrytrot

WL,

I thought it might be something "lame" like that. IF that is the case then I think PCGS was taking a chance at ruining their solid reputation.

A PCGS holder should always mean something and if they slide the bar around once, it really is a scary thing, IMHO.

Conder101

The WTC slabs with the "Gem Uncirculated" grade were not produced by PCGS. Yes they are in PCGS slab shells, but they were created by Collectors Universe. If you turn the slab over you will find the CU logo and not the PCGS logo. (The PCGS logo is molded into the bottom right corner of the front shell though. That is how we know they used PCGS shells.) When PCGS decided to get in on the WTC bandwagon they did put grades on the coins. So far all I have seen in PCGS WTC slabs have been 2001 silver eagles and they have all been graded MS-69. The CU slabs come with a wide range of coins and dates and even some 1 oz gold bars. To date I have seen exactly two WTC slabs with a PCGS logo on the back and a "Gem Uncirculated" grade. I am assuming they are a transitional error.


I am assuming that when CU decided to initially produce the WTC "deathcoins" PCGS was not given a say in the matter since they are just one division of the parent company. But once they saw that there was money to be made they decided to produce them under their own label.

I did note that once PCGS started slabbing the death coins in their own name the prices realized for the CU version dropped way down and the PCGS version tends to sell for significantly more. Same coins, same shells, same equipment and probably the same personel but the "Brand name" version displaces the original and costs more to boot.

barrytrot

Conder,

You are one amazing dude!

radiofrek

I sent an email to PCGS asking if they had a population report on the WTC coins. Their answer was no, just the normal report for a 2001 ASE. Are they too embarassed to own up to it?

wallstreetman

Its called double your money, sell as ungraded, then offer to grade them!