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How's this for an overgraded, overhyped coin?

BarryBarry Posts: 10,100 ✭✭✭
in U.S. Coin Forum
I came across this coin on Ebay (actually, pointed out to me by a friend):

image

The title is: 10C 1862-S PCGS XF45. ONLY 5 COINS BETTER!

and the text says :
The rarity of this coin can NOT be overhyped! In 20 years of operations and millions of coins graded, PCGS has certified ONLY 5 coins higher and just 14 TOTAL for the date. There are just 3 in XF45. The quality of this coin is fantastic and is in the "no brainer" category. There are no issues and the wear is light and even. This coin does NOT appear to have been cleaned. Miss Liberty and the details are well struck. ALL published bids for this coin are incorrect. How can you have a coin so rare with miniscule numbers? These haven't even traded in auctions in the past few years. There just doesn't seem to be much downside with a huge rarity like this. We don't understand why its not a $2,500.00 coin.

The rarity of this coin CAN be overhyped and IS being overhyped.
First, there's no way this is an XF45. Second, so what PCGS only graded 3 in 45 and 5 better? Are there no coins outside the PCGS world? There are plenty of them. Here are two - one mine and one from the friend who pointed out this auction to me. Both of our coins are raw and MUCH nicer:

image

image

Comments

  • RYKRYK Posts: 35,797 ✭✭✭✭✭
    I previously owned this one in PCGS XF-45:

    image

    I sold mine in December. Is it the same coin?
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • shirohniichanshirohniichan Posts: 4,992 ✭✭✭


    << <i>I previously owned this one in PCGS XF-45:

    image

    I sold mine in December. Is it the same coin? >>



    It sure looks the same. Was it worth $2,500 back in December?
    image
    Obscurum per obscurius
  • 1921obsession1921obsession Posts: 559 ✭


    << <i>I previously owned this one in PCGS XF-45:

    image

    I sold mine in December. Is it the same coin? >>



    Sure looks like it.
    Proudly upholding derelict standards for five decades.
  • CladiatorCladiator Posts: 18,062 ✭✭✭✭✭
    It totally is the same damn coin. Look at the dark spot below 2 in the date for obverse confirmation. The dark splotch between the S mintmark and the dentils (bottom left of S) for reverse confirmation.
  • RYKRYK Posts: 35,797 ✭✭✭✭✭
    Of course it is the same coin. image

    I did not sell it to the current seller, BTW.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • morgannut2morgannut2 Posts: 4,293 ✭
    It's very rare--IF it's real. Why does he cite PCGS but not have it in a PCGS, NCS, or ANACS holder for "genuine" designation.
    morgannut2
  • RYKRYK Posts: 35,797 ✭✭✭✭✭
    Was it worth $2,500 back in December?

    I wish.

    ...there's no way this is an XF45.

    I beg to differ.

    Why does he cite PCGS but not have it in a PCGS, NCS, or ANACS holder for "genuine" designation.

    There is a pic of the coin in the holder on the ebay page. It is real, and the seller is legit. image
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • CladiatorCladiator Posts: 18,062 ✭✭✭✭✭
    Ok so we've confirmed that the PHOTO is of RYK's old coin. There's only one way to see if the guy actually has the coin or not. You gonna pull the trigger? Not me.
  • morgannut2morgannut2 Posts: 4,293 ✭
    OK--Now why is a PCGS condition cenus coin (I know it's not C.C. with NGC etc) with a 14 pop have a Trends value of less than $1000. Heck a tough (Elaisberg) CC dime in G-4 (!!) brought $8500 bid last night. Are they too small to collect in anything but MS??image
    morgannut2
  • RYKRYK Posts: 35,797 ✭✭✭✭✭
    I have no doubt that the seller owns the coin. image

    Now why is a PCGS condition cenus coin (I know it's not C.C. with NGC etc) with a 14 pop have a Trends value of less than $1000.

    It's Barry's point. There are plenty of uncertified examples. That is what I learned when I studied the coin (after I purchased it) image .
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • CladiatorCladiator Posts: 18,062 ✭✭✭✭✭


    << <i>I have no doubt that the seller owns the coin. image >>

    Ah, gotcha. 10-4 image
  • TACloughTAClough Posts: 1,598 ✭
    I don't believe that it is the same coin. Too many differences.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    There are lots of similar examples in the seated realm just like that.
    When it was time to sell my 67-s quarter at auction in 2004 I had Heritage use the pop reports to my advantage. At that time the 67-s
    quarter in ALL GRADES was about the rarest seated quarter listed.
    It was comparable or rarer to most of the CC's and all the other top S mints except the 60-s. The total pop was like 13 pieces at that time. If anyone believes the total pop is around that they are nuts.
    I owned 9 of those at one time. There are probably 150-200 of them in existence. There is no need to send many in to the pop reports as most of them grade VG-VF...very few XF and higher.

    The pops can help you and hurt you...depending on what you know or don't know.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • RYKRYK Posts: 35,797 ✭✭✭✭✭
    I don't believe that it is the same coin. Too many differences.

    Believe what you like. The slab numbers match. image
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • BochimanBochiman Posts: 25,441 ✭✭✭✭✭
    Believe him....

    Take a look at the link RYK posted.....and take a look at the seller. You are looking at top eichelon honesty in that seller. No matter one's opinion of the seller's opinions on many things, I would buy from them with UTMOST trust.

    Same coin. Point being made is that not every coin is slabbed. Not every coin is PCGS. So, not just in moderns, but even in classics, don't believe that there aren't better coins out there so watch what you pay for and how much.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • RYKRYK Posts: 35,797 ✭✭✭✭✭
    Believe him....

    Take a look at the link RYK posted.....and take a look at the seller. You are looking at top eichelon honesty in that seller.

    Hey, what about my honesty? image
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • RussRuss Posts: 48,514 ✭✭✭
    Man, I love this place! image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • morgannut2morgannut2 Posts: 4,293 ✭
    Those pops are interesting--Perhaps PCGS should offer an under $1000 under AU promotion of $8 a coin for a month for seated and bust minor coinage? Na, it's easier to grade a zillion modern proofs for TV.image
    morgannut2
  • AgMeAgMe Posts: 881


    << <i>I have no doubt that the seller owns the coin. image

    Now why is a PCGS condition cenus coin (I know it's not C.C. with NGC etc) with a 14 pop have a Trends value of less than $1000.

    It's Barry's point. There are plenty of uncertified examples. That is what I learned when I studied the coin (after I purchased it) image . >>



    heh
    I listen to your voice like it was music, [ y o u ' r e ] the song I want to know.

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    I'd give you the world, just because...

    Speak to me of loved ones, favorite places and things, loves lost and gained, tears shed for joy and sorrow, of when I see the sparkle in your eye ...
    and the blackness when the dream dies, of lovers, fools, adventurers and kings while I sip my wine and contemplate the Chi.
  • MyqqyMyqqy Posts: 9,777 ✭
    Hey, what about my honesty?

    I think that RYK is as honest as the day is long.....
    My style is impetuous, my defense is impregnable !
  • Coinhusker1Coinhusker1 Posts: 3,560 ✭
    After I read the descrption I knew exactly who the seller was. Always uses the words NOT, CAN, ALL in all caps.

    I did not see any spelling mistakes, though!
  • CoxeCoxe Posts: 11,139 ✭
    I love the date, in fact all San Francisco Civil War era minors. This one I don't like, even if one could argue a weak strike over wear. My VF25 is nicer.
    Select Rarities -- DMPLs and VAMs
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  • BochimanBochiman Posts: 25,441 ✭✭✭✭✭


    << <i> Believe him....

    Take a look at the link RYK posted.....and take a look at the seller. You are looking at top eichelon honesty in that seller.

    Hey, what about my honesty? image >>




    Ummm..yeah yeah....RYK too image


    Actually, RYK, I would have NO hesitation in buying from you either.....I would get a great deal (I hope image ) with no attitude coming with it image

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • LongacreLongacre Posts: 16,717 ✭✭✭
    Where's the popcorn? image
    Always took candy from strangers
    Didn't wanna get me no trade
    Never want to be like papa
    Working for the boss every night and day
    --"Happy", by the Rolling Stones (1972)
  • BarryBarry Posts: 10,100 ✭✭✭
    Auction ended, no bids. There's a surprise.





















    NOT!
  • Coin FinderCoin Finder Posts: 7,233 ✭✭✭✭✭
    Well, I just don't know. Its seems she can dish it out but really can't take it. Lots of flack, but she cannot answer the question.
  • BarryBarry Posts: 10,100 ✭✭✭


    << <i>Barry, are you saying my (former) coin is overgraded Crap? image >>


    No, just overgraded.

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