Has there been any recent updates on the status of the 1959 Wheat Cent?
SanctionII
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I remember stories about this coin from a few years ago. Apparently the coin was discovered by a No. Cal collector in 1986. Since then it changed hands. It was submitted to Uncle Sam for analysis and twice was returned by Uncle Sam with correspondence to the effect that Uncle Sam was unable to declare it a fake.
No TPG has been willing to slab it.
Do any of you have any new information on the status of this coin?
No TPG has been willing to slab it.
Do any of you have any new information on the status of this coin?
0
Comments
Well maybe not........... if a "power submitter" sends it in.
roadrunner
The 1959-D Wheat Ears Reverse Cent is one of the most controversial coins to appear on the market in decades. Many experts who have examined the coin are at a loss to explain its existence. Several experts have stated that they believe the coin to be counterfeit, although they are unable to give specific reasons why. On the other hand, the Secret Service has given the coin their stamp of authenticity - on at least two occasions! The coin was scheduled to be sold in Ira & Larry Goldberg Coins & Collectibles, Inc. "The Pre-Long Beach Auction", September 23-24, 2002 (see description below), but the coin was pulled from the auction at the eleventh hour when convicted forger Mark Hofmann claimed to have made the coin. Subsequent investigation failed to confirm this claim and the coin was re-consigned to the Goldberg's "The Benson Collection Part III", February 24-25, 2003, Lot 159. As of February 23, 2003, no major grading service had chosen to certify the coin as genuine.
Sources and/or recommended reading:
"1959-D cent mule gets OK for sale" by Paul Gilkes, COIN WORLD, December 23, 2002, page 3
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i had to google to catch up but my first gut reaction is fake... and
leads me to think many other "rare coins" could be fake as well.
but just a feeling.
<< <i>No TPG has been willing to slab it. >>
And for good reason. The coin looks bogus to me. From photo I'd say that it does not look like a die struck piece.
<< <i>
<< <i>No TPG has been willing to slab it. >>
And for good reason. The coin looks bogus to me. From photo I'd say that it does not look like a die struck piece. >>
That's what makes ballgames. I don't see anything that says 'phoney' to me.
<< <i>To me it looks like an spark erosion die copy...The lettering is good..but the profile and the wheat stalks are too shallow for the quality of the lettering...Cents during that period have a deeper profile.. >>
Yes, that is my thought exactly. The profile of Lincoln is too weak given the sharpenss of the letters, and the surface is suspect.
<< <i>
No TPG has been willing to slab it.
>>
I have a very simple rule regarding any of the possible rare coins that surface from time to time like (in the Lincoln cent series) the 1917 Matte Proof, the 1959 wheat stalks reverse. WHEN EITHER PCGS OR NGC CERTIFY THE COIN AS GENUINE, then I will accept it as a legitimate coin within the hobby. Until that happens, I will not accept any "story" about it as legitimate. Steve
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
my early American coins & currency: -- http://yankeedoodlecoins.com/
of the series where it drops down like that and the top part of the
T is uneven?
<< <i>the TY in LIBERTY just looks so odd. is that normal for any year
of the series where it drops down like that and the top part of the
T is uneven? >>
I was thinking the same. Also, the design elements don't seem to be struck up so well and that points to fake.
If it's real, it was struck at the Mint in secrecy similar to the 1913 Liberty Nickels. They had to know 1958 was the final year for the Wheat Cents since the change in reverse was made at exactly the 150th anniversary of Lincoln's birth. Rarities like the 1853-o without rays/arrows Half, 1861 (P)/1861-S Paquet Double Eagles: these were rarities that happened as naturally as possible, have good stories, and I have a lot more respect for them. But, to each his own.
My understanding (which could be wrong) is that no one was able to prove that it was fake, but by the same token no one could prove that it was real.
I'd be interested to hear what any of the error experts have to say.
Its not that far fetched that a wheat rev die was accidentally used to coin some 1959 wheaties. Is it?
Also looking for VF-EF Seated halves.
Sell me your old auction catalogs...
Does the market (collectors, dealers and investors) presume a coin such as this is authentic until it is proven to be fake; or does the marker presume a coin such as this to be fake until it is proven to be authentic?
Further, for a coin such as this, does proof of it being fake or authentic have to come from a certain source (i.e. the Mint, the Secret Service, TPG's or a coin expert like Mr. Bowers) to be accepted by the hobby?
Also looking for VF-EF Seated halves.
Sell me your old auction catalogs...
<< <i>Personally, anyone that can prove it could have heppened is good enough for me. If someone like QDB or anyother reliable researcher found something to suggest that it was possible, than why not? >>
i would think why not because there is people out there in this world
who would gladly start making fake coins to sell at high prices. it
has happened in every hobby and has the potential to destroy it
or at the very least harm it.