What is the deal with this ANACS slab?

greghansen

An 1893-S Morgan slabbed as *genuine*, but with no net grade. What does it all mean?

1893-S Link-a-roo-ski

P.S. Sure doesn't look XF40

Rampage

Greg.

When submitting to ANACS, you have the option of choosing authentication ONLY, or authentication and grading. So, this submitter chose the authentication ONLY service which just tells us the coins is genuine, but no grade was given because it was not asked for. I am not good at grading circulated Morgans, so I could not tell you if the grade suggested is accurate or not.

Regards, Richard.

MastaHanky

Most grading services offer an authentication-only service for coins, which is cheaper than the grading service. Since the 93-S is a frequently counterfeited or altered date, authentication is a good idea. Although these aren't common, it's a genuine slab.

Steve27

This coin is obviously only F-12, all the wing feathers have to be present just to grade VF-20, so XF-40 is a joke.

Twowood

I agree with Rampage and MastaHanky. It's an authentication. I often wondered what the grading services gave for "Authentication Only"...Now I know. Twowood

leothelyon

lol, Has it authenticated and not graded (at least someone did) but then hypes up the grade himself.
Looks VG10 to me.

Leo

NumisEd

The coin is F-15

coinnerd

This is an old slab from the time ANACS was owned by the ANA. Before net grading began ANACS would call problem coins genuine but assign no grade. This coin has been cleaned or has some other problem that would cause PCGS or NGC to bag it.

BillJones

The coin looks OK to me. The problem is that it's an F-VF, and it's got to be a full VF-20 to be worth the opening bid. In this market where key dates are popular, this coin may not be THAT overpriced for collector who needs an 1893-S dollar.

BTW all three of the leading services use grading standards that are as lose as a goose for key date circulated coins. It's possible that this coin could get into a VF hoder and perhaps not just a VF-20 holder.

Conder101

Actually that slab is from the second generation AFTER it was bought by Amos Press.

coinkat

It is not EF40 or even a solid VF because it is a problem coin. It was cleaned and may have other issues that may be difficult to detect from the photo/scan. It was slabbed before ANACs had the net grade concept in place. This coin really should be avoided.

Conder101

Sorry but ANACS was doing net grading while it was still owned by the ANA and producing certificates. At least three holder generations before this dollar was slabbed. One reason why they may have gone for authentication only is because it is had to sell frequently counterfeited coins unless they are slabbed, but it is also hard to sell them as XF if the slab is sitting there saying F-15. The authentication only gives the seller the best of both worlds, a guaranteed genuine coin that doesn't argue when you overgrade it three grades.