NGC and PGCS.. 30k+ missing letter prez dollars.

Colquhoun · April 29, 2007 4:10PM

PCGS.. 11,721
NGC.. 19,010
Total 30,731

Thats alot of missing letter coins.

Coxe · April 29, 2007 4:15PM

The fools are the ones who dive in like lemmings and pay big premiums when these things start out. This was an errors several of us predicted when the deisgn was announced. In any event, this always happens. Remember the 1995 DDO cents? People would pay a good chunk of change to get one and unsearched sewn bags were competed for.

BECOKA · April 29, 2007 4:41PM

Glad I did not bother looking too hard for these. I have been having fun spending them like crazy and casually checking if the letters are missing.

Boom · April 29, 2007 4:49PM

kranky · April 29, 2007 8:19PM

Don't have my copy in front of me, but I thought the issue of CW I got the other day said 45,000 have been slabbed.

foodude · April 29, 2007 8:26PM

Don't have my copy in front of me, but I thought the issue of CW I got the other day said 45,000 have been slabbed.

That's what I recall too. Perhaps their # included otrhers like ANACS and IGC.

tjkillian · April 29, 2007 8:26PM

Wasn't the eBay seller Centsless buying all he could at about $125.00 each?

TwoSides2aCoin · April 29, 2007 8:36PM

<< Wasn't the eBay seller Centsless buying all he could at about $125.00 each? >>

When you make millions, what are hundreds ?

kieferscoins · April 29, 2007 10:41PM

<< Don't have my copy in front of me, but I thought the issue of CW I got the other day said 45,000 have been slabbed. >>

Yeah. ICG has done about 8,000 and coinworld reported NGC I believe as doing 30k+ instead of the 19,000 he posted here.

Cameron Kiefer

291fifth · April 29, 2007 10:56PM

...and there's probably many more to come.

Steve · April 29, 2007 11:03PM

Why would any collector want a plain edge presidential dollar when the whole reason to own a presidential dollar is to get one with edge lettering?
Steve

OPA · April 29, 2007 11:03PM

<< ...and there's probably many more to come. >>

Number of MS67 graded has not changed...still only 13 P & 3 D's. Looks like these will be the key coins.

291fifth · April 29, 2007 11:09PM

<< 

<< ...and there's probably many more to come. >>

Number of MS67 graded has not changed...still only 13 P & 3 D's. Looks like these will be the key coins. >>

Only for the registry set crowd.

ChuckC · April 29, 2007 11:18PM

<< 

<< ...and there's probably many more to come. >>

Number of MS67 graded has not changed...still only 13 P & 3 D's. Looks like these will be the key coins. >>

I didn't know that the TPGs distinguished b/t P&D? I thought they were labeling slabs as (2007).

Colquhoun · April 29, 2007 11:19PM

<< NGC I believe as doing 30k+ instead of the 19,000 he posted here. >>

My numbers come straight off the pop reports.. are they current.. of course not.. but that is the published number atm.

notwilight · April 29, 2007 11:21PM

Actually that's not that many. Based on the questions I get on ebay there are a LOT of non-collectors picking these up. this is a very popular error because of all the publicity and the "godless" aspect of it. And it is an error you can look for in your change w/o a magnifying glass, even if you're not a collector. Oh, don't forget TV sellers...

Right now lots are being dumped on ebay. I would not suprise me to see the price go up from here.

---Jerry

FredWeinberg · April 30, 2007 12:31AM

The numbers mentioned above do not
include those NGC coins that are certified
as genuine "Missing Edge Lettering"
Dollars, BUT do NOT have a grade on them.

(I believe NGC will certifiy them without
a grade for a few dollars less than the
normal fee they charge for these dollars)

(It could also be coins that didn't make a
minimum grade of MS-63 or MS-64)

My understanding is that they have
Certified, with NO grade, about 16,000
Plain Edge Washington Dollars.

fc · April 30, 2007 12:35AM

i find it interesting that a brand new modern error coin is sent
to the grading companies so quickly. why in the heck do people
send them in so fast?

Did a handful of people discover 1000s of them in one whack?

Or did 10000 people all send in a handful?

Did a mint employee send in them? ;-)

this hobby is odd.

DenverDave · April 30, 2007 12:51AM

I like to look at them as the "People's Error"..."-)

Sure 45,000 is alot and will stop it from bring Moon Money but I believe they will always bring strong money for the series. Those waiting for the $25/$50 mark ( slabbed ) will be left out I'm afraid, a MS65 MEL ( new acronym Missing Edge Lettering "-) are going for $150.00 now on eBay. Unless there's alot more coming down the Pike I see these at the bottom ( down from $600 ) or near bottom and will slowly start rising in value...

Take the Wisconsin low/high with a POP of appx. 25,000 ( near as I can figure, correct me if I'm wrong "-) three years later a MS65 is $300+ on eBay. The MEL's are a far better error and have much more appeal to the general public, unless you like Corn, Cheese and Betsy the Cow on your Error..."-)

If the POP remains in the 45,000 / 50,000 range I can see a MS65 MEL bring $300+ in the next 3 to 5 years...

Interesting facts off NGC's POP Report...

NGC has graded 19,010 MEL's, 21,228 FDI's, 1,122 Non-FDI's...

Lowest grade on a MEL is AU58 @ 1 POP...

Highest grade on a MEL is MS67 @ 22 POP...

Highest grades over all @ 90 - MS67 & no MS68's ( that's the one to look for "-)

There have been 24 - MSPL's to date, 2 - P's and 22 -D's with a POP of 9 - MSPL66's being the highest..

Zoins · April 30, 2007 12:53AM

That's still less than the 250k RP ASEs that are out there. NGC has graded 31,518 of those so far.

Will this become the modern version of the 1955 DDO Lincoln cent?

sonofagunk · April 30, 2007 12:58AM

The numbers are misleading. Most of them are crackouts that people resubmitted to get higher grades
There are actually only 10 or so

Wolf359 · April 30, 2007 1:00AM

An amazing number certified in only 2+ months. The TPG's must be thrilled.

Zoins · April 30, 2007 1:02AM

<< An amazing number certified in only 2+ months. The TPG's must be thrilled. >>

I bet, it's not even like this was a program that they were pushing or even expected. It's much better than creating an artificial rarity based on shipping date IMO.

Hmm, should there be a debate on artificial rarity vs. natural rarity

Artificial rarity is essentially the core issue that people who don't like TPG 70 moderns are concerned about right?

SUMORADA · April 30, 2007 2:10AM

the high number of these that are being slabbed is misleading people into thinking that there are a lot more of these then there are IMO,don't forget what happened to a couple of sellers on ebay when these first hit,ebay was shutting them down and freezing there paypal accounts for fear that some of these maybe fake,from the first reports of altered coins the price on raw ones has been dropping, IMO the majority of the sellers got them slabbed which would account for the unusually high percentage of these being graded!

kranky · April 30, 2007 2:34AM

I can't believe that the majority of plain edge GW dollars have been slabbed.

First, the coins were released to the public through banks. Had the plain edge dollars come from direct Mint sales, that would be different as then they would have gone mostly to collectors and dealers. But as they are "out there" where anyone could conceivably get one (or more), the distribution would be pretty broad. I can easily imagine very many of these coins are still sitting in unopened rolls that people got from banks to put away.

Second, in reality not very many people slab coins. The average person might have heard of the plain edge dollars, and knew to pull them aside if encountered, but if they aren't already slabbing coins, not very many people would go to any effort to slab them. The process is just about invisible to the average person.

Third, the Mint is on record as saying the most likely scenario is that one bin moved from the minting area to the shipping area without stopping at the edge lettering machine, and those bins hold between 150,000-170,000 coins. That number of plain edge coins seems logical to me.

For me to believe the majority of them have been slabbed, nearly everyone who has found one would have had to sell it to a dealer - and then it could end up slabbed. I just don't think that's the case.

I'll accept that the majority of sellers have had them slabbed, though.

Colquhoun · April 30, 2007 4:03AM

I didn't think about the NGC coins that were no graded.. Thank you for pointing those out.

RedTiger · April 30, 2007 5:08AM

I agree with kranky, many of them are still raw. Only big time sellers sent them in. A lot of casual folks just bought one or found one and have held on to it raw. A good number probably also ended up at the other grading services, so the actual number of coins is probably two to four times the pops reported.

ss350camaro · April 30, 2007 5:56AM

I wouldn't mind having one for my collection, as i think of them as almost a novelty item more than a rarity.

I'm glad i didn't jump on one yet. It's looking like they'll possibly be coming down in price in the near future

Rarity · April 30, 2007 6:00AM

I'll get one in the future when the price is finally settled

CaptHenway · April 30, 2007 6:02AM

MEL?
as in MEL = BLANK?

That's all, folks!

TD

LanLord · April 30, 2007 6:12AM

<< The fools are the ones who dive in like lemmings and pay big premiums when these things start out. This was an errors several of us predicted when the deisgn was announced. In any event, this always happens. Remember the 1995 DDO cents? People would pay a good chunk of change to get one and unsearched sewn bags were competed for. >>

Probably means nothing but did you know that the whole "lemmings" story is a bunch of crapola? Yup, some scientists in the 50s decided that after putting a couple lemmings on a turntable to watch them run.

NGC and PGCS.. 30k+ missing letter prez dollars.

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