Most Overgraded Coin Award: Semi-Finalist

Singapore

Heads
Tails

Yes, that is a large square hole in the middle of the reverse and no, that is not part of the original design.

MastaHanky

So what's it graded?

NumisEd

Wow, singapore. You just don't see New York coppers like that every day. Nice coin. I would grade it VF-30 details. The price will take a hit due to the damage.

Singapore

A very rare coin - one of approximately 20 known.

This particular one was called a PCGS XF45 the first time I saw it, then, somehow, it was upgraded to its current AU55.

It was last auctioned as 'possible finest known' despite the fact that it exhibits substantially more wear than at least 10 other examples that I've seen auction photos of, and the deep, square hole in the back - which I'm guessing was a jewelry mount of some sort - apparently didn't factor into the grading evaluation. In other words, it might be closer to being the worst of these than it is to the finest known.

This coin realized about $25K at auction which is very likely the highest price ever paid for a NY to someone who apparently believed the description, and the slab.

Not PCGS's finest hour in my opinion.

abuell

If some slab nerd buys an Excelsior they deserve what they get. It's a coin for the specialist who would never look at the stupid slab anyways and woulld, if they bought the coin, do the right thing and bust it out of that plastic coffin.

NumisEd

This particular one was called a PCGS XF45 the first time I saw it, then, somehow, it was upgraded to its current AU55.

At EF-45, they were smoking the wrong kinda cigarettes, but at AU-55 they are eatin' a whole lot of homemade brownies, too. That is WAY crazy. It was an obvious "gift" at EF-45, but AU-55 is more than a gift.......

Singapore

abuell -

Your name is familiar -

I agree with you, sort of, but unfortunately the PCGS 'endorsement' of this coin is, in my opinion, akin to aiding and abetting.

Some less-than-very-knowledgeable-person (to be kind, just in case they are also on this board) apparently bought this coin at least partly because PCGS warranted it as something much, much, much better than it is.

So while we can say caveat emptor and be done with it, I think those of us tooling around on a web-site endorsed and paid for by PCGS might take pause.

If the coin is removed from its holder now by its current owner its worth somewhere between $5K and $8K.

Let me repeat, not PCGS's finest hour.

abuell

PCGS gave their opinion. Yes, you and I don't agree but anyone knowlegable in colonials is well aware that PCGS or any of the other slabbers know next to nil about colonials. I know next to nil about Morgan dollars and, therefore, don't issue my opinion on them. The slab boyz should stick to what they know (or are supposed to know). I figure that their opinion on an Excelsior and a buck out to get you a cup of coffee.

NumisEd

If some slab nerd buys an Excelsior they deserve what they get. It's a coin for the specialist who would never look at the stupid slab anyways and woulld, if they bought the coin, do the right thing and bust it out of that plastic coffin.

Right on, brotha.

Abuell, what do you grade the coin? Was I close at VF-30 details?

abuell

From the picture I call it a 25-30 coin. I'd be proud to own the coin any day.

Singapore

Numised -

The NY is not quite as sharp as several coins that have auctioned through the years as VFs.

I'd call it a 30 for details but the gouge is the gouge -

abuell -

Are you the one who showed me the Fugio restrike in gold at the ANA?

abuell

Singapore-

That would have been my partner, David Palmer. I was the one who 'discovered' the coin.

wallstreetman

Hey, we may have some scruptulous people here after all! Lets help clean up the mistakes and make PCGS what it should be! Someone has to fight these crackout artists(a**holes)! I wonder how many times that coin had to be submitted before it got in that holder? Maybe your right, it shouldnt have went through PCGS.