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A positive experience educating someone about ACG
Barry
Posts: 10,100 ✭✭✭
A few weeks ago, I saw this auction. I emailed the seller and told him I'd be interested in the coin if it was certified by a respected service (PCGS, NGC or ANACS). I suggested ANACS figuring it was a problem coin.
Being in LA, he took it to the Long Beach show, and sent me this email today:
Hello Barry,
Being more of a history buff than a coin collector and allowing myself to
become excited about an outstandingly awesome piece for the unaided eye, I
didn't look or know how to look for the tooling and other problems with
the coin. I only knew the original mintage, the fact that many were
melted and could only imagine who might have had this in their possesion
in 1795! Yesterday, January 30th, the coin was given to ANACS to A) leave
in the present ACG MS64 holder and
have a written report attached to it
about the problems, by 4 to 5 people, with a total of 10 days turnaround
before it is in my hands again. A single ANACS authenticator/grader at
the Long Beach Show said that the genuine coin had a lot of tooling on the
surfaces and whizzing which gives it a net XF40. I know now that I
grossly over paid, for a true XF-40, although the coin was a raw on the
Long Beach floor, changing hands before it came to me. I also didn't know
that coins are routinely broken out of their holders and possibly reslabb
Thank you for you interest and sending me somewhere to, hopefully, take
care of the problems.
Don
Being in LA, he took it to the Long Beach show, and sent me this email today:
Hello Barry,
Being more of a history buff than a coin collector and allowing myself to
become excited about an outstandingly awesome piece for the unaided eye, I
didn't look or know how to look for the tooling and other problems with
the coin. I only knew the original mintage, the fact that many were
melted and could only imagine who might have had this in their possesion
in 1795! Yesterday, January 30th, the coin was given to ANACS to A) leave
in the present ACG MS64 holder and
have a written report attached to itabout the problems, by 4 to 5 people, with a total of 10 days turnaround
before it is in my hands again. A single ANACS authenticator/grader at
the Long Beach Show said that the genuine coin had a lot of tooling on the
surfaces and whizzing which gives it a net XF40. I know now that I
grossly over paid, for a true XF-40, although the coin was a raw on the
Long Beach floor, changing hands before it came to me. I also didn't know
that coins are routinely broken out of their holders and possibly reslabb
Thank you for you interest and sending me somewhere to, hopefully, take
care of the problems.
Don
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Comments
The Ludlow Brilliant Collection (1938-64)
What an expensive lesson.
Somewhere in hell, there is a very special spot for Alan Hagar. A very hot space indeed!!!
There is something surreal about this thread.
I haven't posted here in quite a while, so here are some interesting documents for those of you who are new here:
Donnan Grades
NGC report on the Donnan coins
PCGS report on the Donnan coins