I've had a few. A 'gem BU' Bay Bridge commem from a very high-volume ebay seller of early commemoratives whose coins all look alike, against a grey background (some of you may know who I mean) -- MS63+ money for a mint state coin with only one or two marks -- fair enough -- but something ain't right about the surface. Micro-whizzed, heavily dipped, or something. My loupe doesn't show hairlines or the razor edges on letters or anything, but something just is wrong about the surfaces. In hand it screams out 'I've been messed with.'
Another -- an AU Lafayette dollar for AU money, turned out to be a pretty good cast counterfeit. Had my dealer fooled, too. Anyway, the seller did take it back, refund the money, and as far as I can tell hasn't tried to sell it since, but how would I really know...
Finally, back in the early 80's my dad & I used to frequent a dealer who did all his sales out of the back office of a big drycleaning plant... we bought an 1860 quarter as MS60 for something like $450. Later on I learned to use a glass & recognize light wear & friction. Finally got rid of it last winter for $116 in trade -- although the Morgan my dealer gave for it, labeled at $132, recently sold for three times that and bought me the $10 Indian I'd been wanting. So I guess it turned out alright.
Early on, before I knew better, I bought a 1928-D Mercury Dime certified by ACG as MS65FB. Turned out to be an AU50 with PVC damage. It took me a year, but I managed to get my money back from the dealer. Luckily I had paid for it on a credit card, direct to the dealer. I will never again buy from that dealer and I will never again buy a ACG certified coin.
1. An 1871-CC dollar with added mintmark. I didn't discover the for several years alteration until it was bodybagged with the advent of the grading services, by then the seller had gone belly-up.
2. Buying 1950-D nickels at their peak in the 50s--it's supposedly the only coin in the Red Book worth less that it was 40 years ago (I beleive the 1903-O dollar also qualifies).
1. An 1871-CC dollar with added mintmark. I didn't discover the for several years alteration until it was bodybagged with the advent of the grading services, by then the seller had gone belly-up.
2. Buying 1950-D nickels at their peak in the 50s--it's supposedly the only coin in the Red Book worth less that it was 40 years ago (I beleive the 1903-O dollar also qualifies).
Oh well, live and learn! >>
I bought a pcgs 50-d full step in ms65 earlier this year for 40 bucks. How much was it back then?
<< <i>I bought a pcgs 50-d full step in ms65 earlier this year for 40 bucks. How much was it back then? >>
Can't really say, because 40 years ago, there was only "Unc."
There were no numerical grades in wide usage. No full steps, no RD/RB/BN classifications, no FSB, no full head, et cetera. So 40 years ago, your '50-D would have been (roughly) whatever the value of "Unc." is (keeping in ming that a majority of '50-Ds are probably mint state anyway).
I bought an 1886-S along with about 20 other Morgan Dollars from a private collector. I had purchased some Morgans from him before and they were PQ. All came back MS64PL or better from PCGS. When he said the 1886-S was the best out of his entire bunch, I paid between MS64 and MS65 money for it along with the rest of his collection. I sent the coins into PCGS and everyone came back MS64 or better with several MS65PL coins...........except for the 1886-S (AU-58) I later sold it for $150 bucks. Since I paid only around 40 bucks for each of his other coins (about 30 in all) and sold them all for over $100 each, I didn't complain too much. I still made money on the deal.
So if you just take the case of the 1886-S, that was my biggest loss MS64/65 money for an AU58 semi-key coin. To this day, I still believe the coin was at least MS63.
Comments
Another -- an AU Lafayette dollar for AU money, turned out to be a pretty good cast counterfeit. Had my dealer fooled, too. Anyway, the seller did take it back, refund the money, and as far as I can tell hasn't tried to sell it since, but how would I really know...
Finally, back in the early 80's my dad & I used to frequent a dealer who did all his sales out of the back office of a big drycleaning plant... we bought an 1860 quarter as MS60 for something like $450. Later on I learned to use a glass & recognize light wear & friction. Finally got rid of it last winter for $116 in trade -- although the Morgan my dealer gave for it, labeled at $132, recently sold for three times that and bought me the $10 Indian I'd been wanting. So I guess it turned out alright.
Regards,
Wayne
Wayne
www.waynedriskillminiatures.com
On another occasion I bought a 14d $2.50 that turned out to be counterfeit.
Otherwise, I've done very well.
Jim
My 1866 Philly Mint Set
1. An 1871-CC dollar with added mintmark. I didn't discover the for several years alteration until it was bodybagged with the advent of the grading services, by then the seller had gone belly-up.
2. Buying 1950-D nickels at their peak in the 50s--it's supposedly the only coin in the Red Book worth less that it was 40 years ago (I beleive the 1903-O dollar also qualifies).
Oh well, live and learn!
<< <i>Hmmmmmmmmm. Two mistakes come to mind
1. An 1871-CC dollar with added mintmark. I didn't discover the for several years alteration until it was bodybagged with the advent of the grading services, by then the seller had gone belly-up.
2. Buying 1950-D nickels at their peak in the 50s--it's supposedly the only coin in the Red Book worth less that it was 40 years ago (I beleive the 1903-O dollar also qualifies).
Oh well, live and learn! >>
I bought a pcgs 50-d full step in ms65 earlier this year for 40 bucks. How much was it back then?
<< <i>I bought a pcgs 50-d full step in ms65 earlier this year for 40 bucks. How much was it back then? >>
Can't really say, because 40 years ago, there was only "Unc."
There were no numerical grades in wide usage. No full steps, no RD/RB/BN classifications, no FSB, no full head, et cetera. So 40 years ago, your '50-D would have been (roughly) whatever the value of "Unc." is (keeping in ming that a majority of '50-Ds are probably mint state anyway).
So if you just take the case of the 1886-S, that was my biggest loss MS64/65 money for an AU58 semi-key coin. To this day, I still believe the coin was at least MS63.