Chopmark Mexico 8 Reals in an NGC holder!!!

bobking

This is an NGC MS64 Mexico 8 reals coin.


I bought it last month but had not checked it carefully before. When I wanted to take some pictures for it this morning, I found a chopmark on the reverse.




I can not believe it happens on an NGC graded coin since I thought they did not accept chopmarked coins. The grader did not mention the chopmark on the label.


What should I do? May I send this coin to NGC for "overgrade"? Are they responsible for this problem? Given that I can not return it to the dealer, should I ask NGC for refund or resell it on ebay as a problem coin at a discount price?

coinkat

interesting... very interesting. I didn't think NGC holdered chop marked coins... has that changed?

Stork

You might want to sell it, there could be some interest in it as is. It's not something I collect, but others here could have a little more insight. Out of curiosity though, why can't you return it to the dealer?

Cathy

compromonedas

I will like to buy that coin. Please PM
Keith

ColonialCoinUnion

I have seen many, many chopmarked pillars in NGC holders - in fact, that's the first thing I look for to make sure any coin I'm considering didn't slip through grading.

dizzlecc

One would think that NGC would correct the error.

If you want to by pass the hassle, I would think you would be able to sell it easily. It looks like a nice coin for the grade. Consider the experience a lesson learned.

I will start checking more closely for chop marks prior to purchase.

WillieBoyd2

Can one be sure the mark is not an ordinary scratch?

bobking

I got this coin 1 month ago, so I can not return it now.

Doogy

It sounds like it may be worth less with the chop marks? I have read where many prefer the chop marks on trade dollars and such and pay a handsome premium. Does this not hold true with these too?

Doug

coinkat

The chop marks have a strong subjective component... I know that sounds bad, but it really is based in reality.

jcp

There maybe interest in the coin as an anomaly. If you decide not to sell it contact NGC and ask for a World grader and explain the problem, I am sure they will correct it for you.

GDJMSP

<< <i>It sounds like it may be worth less with the chop marks? I have read where many prefer the chop marks on trade dollars and such and pay a handsome premium. Does this not hold true with these too?

Doug >>



It can be true for these coins, just like it can be true for any chopmarked coin. But as was stated, but not quite in the same words, the reality is that there are as many if not more collectors who consider chopmarked coins as damaged coins as there those who like them. That's why for a very long time the TPG's would not slab chopmarked coins - they were considered to be the same as any damaged coin and as such ungradeable.

So when it comes to value - just like with any coin - it depends upon what the buyer likes or dislikes.

WillieBoyd2

I still do not think the mark is a chopmark.

I believe that a chopmarked coin would show more circulation.

It could also be that a piece of metal stuck to the die and made the mark.
I have seen US coins with this problem.