1856 Flying Eagle Snow-3 graded AU-53 by PCGS!
iras4
Posts: 300
PCGS, for at least the last year, has been grading the original 1856 FEs as Proof-### instead of Mint State, irrespective of whether the Coin is a Snow-3, one of the 600 original examples given to members of Congress in late 1856, or a Snow-9, the 1500-2000 restrikes issued in 1859-1860.
The reason, I believe, and I'm not alone in this belief, is that PCGS has graded Mint state as Proof and Proof (restrikes) as MS based solely on surface characteristics rather than the diagnostics, which are NOT too difficult to fathom.Too avid liabilit issues, IMHO, they have been simply calling all Proofs, as NGC has done from the start.
Rick Snow, for a very modest fee, will issue an attribution card with the coin's photo on said card, designating the variety and stating whether the coin is a S-3 original or a restrike. Quite a bargain, actually.
Now, on a raw coin I just submitted, PCGS has graded this original AU-53, as they should, on this S-3, rather than Proof-53 which they would have done about a month ago. I hope this signals a welcome change in their policy regarding this popular coin.
Link
Ira Stein
The reason, I believe, and I'm not alone in this belief, is that PCGS has graded Mint state as Proof and Proof (restrikes) as MS based solely on surface characteristics rather than the diagnostics, which are NOT too difficult to fathom.Too avid liabilit issues, IMHO, they have been simply calling all Proofs, as NGC has done from the start.
Rick Snow, for a very modest fee, will issue an attribution card with the coin's photo on said card, designating the variety and stating whether the coin is a S-3 original or a restrike. Quite a bargain, actually.
Now, on a raw coin I just submitted, PCGS has graded this original AU-53, as they should, on this S-3, rather than Proof-53 which they would have done about a month ago. I hope this signals a welcome change in their policy regarding this popular coin.
Link
Ira Stein
Dealer/old-time collector
0
Comments
<< <i>Agreed, but could I see that toilet seat picture just one more time, sorry, but I just had to ask------BigE >>
In a word, no!
Ira
Tom
I sent my AU50 in for a reholder and it came back properly holdered as AU50. This too has been in the past month.
They had put three MS-64 S-3 coin that were in proof holders in mint state holders for me
Price 50 K
<< <i>And so is the coin for sale now and if so what is the damage? >>
It was sold within two hours of my receiving it. I wasn't trying to sell it here....just wanted to comment upon what may signify a change in PCGS policy with respect to
Snow-3s.
Ira
~~~~~~~~~~~~
Coin collecting is not a hobby, it's an obsession !
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Ira - nice loking coin.
Merc - I'll give you proof 65 money for it....