MS67 Kennedy Half - Mislabeled SMS Coin???

RooseyFan · December 9, 2004 8:56AM

I was looking throught the Heritage Dallas Bullet sale and noticed they have a 1965 PCGS MS67 Kennedy Half Dollar. I am looking for a nice silver clad half for my type set so I looked at the coin and the coin looks amazingly PL and even slightly cameoed on the reverse. Is this a mislabled SMS coin or just a really nice PL MS half?

Opinions please.

Butch

Russ · December 9, 2004 9:14AM

<< <i>Mislabeled SMS Coin??? >>

I am almost certain that it is.

Russ, NCNE

Russ · December 9, 2004 9:17AM

On second thought, no "almost" about it. That's an SMS coin.

Russ, NCNE

DRG · December 9, 2004 9:21AM

It is a SMS coin!!!!

RooseyFan · December 9, 2004 9:21AM

That's what I thought. It is bid up to $1100.00 right now.

Ouch

Butch

LindeDad · December 9, 2004 9:57AM

Well for now It's one of only ten in that grade. And worth about ten time what a SMS coin would be.

Schmitz7 · December 9, 2004 10:02AM

As a collector/registry holder of mint state Kennedy Halfs, I would say 99.9% positive this is an SMS coin worth about $20.

LindeDad · December 9, 2004 10:27AM

By the way it does list in the data base as a non SMS.

DRG · December 9, 2004 2:19PM

This is probably why PCGS now lists all nice 1965-1967 coins as SMS. It is cheaper to make a mistake in this direction. This one will cost them $1,000+.

Schmitz7 · December 9, 2004 8:50PM

Who ever buys this will be out the money themselves. If you read PCGS's grading policy, mislabeled coins are not guaranteed, only the grade of a correctly attributed coin is guaranteed. Coins that are labeled incorrectly need to be brought to the attention of PCGS in order to be fixed. In this case, I would think Heritage would be out the money since as the auctioneer, they need to perform due diligence to insure the validity of the coin prior to auction.

Does anyone from Heritage on this board have a comment????

Russ · December 10, 2004 1:15AM

<< <i>Who ever buys this will be out the money themselves. If you read PCGS's grading policy, mislabeled coins are not guaranteed >>

That's correct. They would call it a mechanical error, and the buyer is screwed. Frankly, though, if the buyer can't recognize that coin for what it is, then they shouldn't be buying high dollar early date Kennedys.

Russ, NCNE

Russ · December 10, 2004 1:26AM

I just talked to Brian at Heritage. He said he'll have their graders look at the coin and if they agree it's an SMS, it'll be yanked from the auction.

Russ, NCNE

Datentype · December 10, 2004 1:29AM

I think the recourse is to the Dealer that slabbed the coin if they decide to enforce the Dealer contract. It does not seem fair to the Dealer for a mistake PCGS has made IMHO. It is possible that the slabber found this coin in a roll as many, many SMS coins are coming from rolls whether they are really SMS or not. I even once found a cameo dime in an original roll that was bankwrapped so any thing is possible. i personally despise 1965-1967 rolls due to my personal lack of being able to tell for sure if they are indeed SMS.

kieferscoins · December 10, 2004 3:56AM

Ryan Carrol is a former PCGS grader and works for Heritage. He knows his coins and will be able to tell. Good job Heritage for checking into it!

Cameron Kiefer

Russ · December 10, 2004 4:09AM

<< <i>Good job Heritage for checking into it! >>

Good job? It never should have been listed in the first place. The fact that it was is a result either of ignorance or greed.

Russ, NCNE

LindeDad · December 10, 2004 10:11AM

Glad I can't afford to get in the mix with the X-mass shopping.

petescamp · December 11, 2004 5:02PM

The bidding for the plastic numbers continues. SMS at $2400

Schmitz7 · December 13, 2004 10:32PM

Hopefully the new owner challenges PCGS/Heritage on the validity of this coin and lets Heritage have it. They had ample notification and time to review the coin themselves prior to and during the auction.

If Heritage thinks this is a business strike, then I have several misslabeled SMS coins I can sell them at a 1/4 of what this one sold for at auction. Do you think they will take me up on this offer?

Monstavet · December 14, 2004 3:52AM

And to think their is another thread on this forum saying we shouldn't bash those registry fanatics pursuing their dream of owning a #1 set. Of course these bidders are bidding on the coin, not the plastic and the label. I think this coin makes a great case for how wonderful the Registry can be!

Russ · December 17, 2004 3:05AM

Heritage has now refunded the buyer's money and returned the coin to the consignor.

Russ, NCNE

cladking · December 17, 2004 5:14AM

<< <i>And to think their is another thread on this forum saying we shouldn't bash those registry fanatics pursuing their dream of owning a #1 set. Of course these bidders are bidding on the coin, not the plastic and the label. I think this coin makes a great case for how wonderful the Registry can be! >>

I don't have a registry set and would be very interested in this coin were I sure it wasn't SMS.

raycyca · December 17, 2004 9:56PM

This coin IS indeed a SMS coin. I reported it to PCGS and they had a poor reply. IF I was the new owner, I could send it to them and they would look at it. If I wasn't the new buyer, they would do nothing. I alerted them as soon as I saw the coin but it took them a few days to reply. They basically had no interest in correcting the problem. Probably because it would cost them over $2000($2760 if I remember correctly!). This means you can take the populations on this coin by at least 1. Ray

MS67 Kennedy Half - Mislabeled SMS Coin???

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