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Alert For The Presidential Dollar Collectors....
wondercoin
Posts: 16,688 ✭✭✭✭✭
A batch of "top pop" non-First Day Issue satin finish coins MAY have inadvertently left PCGS recently in business strike holders. The coins included some MS68 M. Van Buren coins, one of which recently sold on ebay. The submittor has now agreed to return all of the coins to PCGS for re-examination, including the one that just sold on ebay. I am informed by PCGS that they are also in the process of "freezing" (i.e removing from the registry) all of the serial numbers in connection with this order pending the re-examination of the coins.
What is fantastic for both collectors and dealers is that things are now in place at PCGS to address these issues in a day. On top of that, this is the first instance of a possible mistake at PCGS I have heard about in the past year or two - great job on their part to fix what had been a large problem in the past! I just wanted to give all Presidential dollar collectors the "heads up" on these MS68 business strike non-FDI coins, but, again, hopefully, all of the coins will be heading back to PCGS shortly.
Wondercoin
What is fantastic for both collectors and dealers is that things are now in place at PCGS to address these issues in a day. On top of that, this is the first instance of a possible mistake at PCGS I have heard about in the past year or two - great job on their part to fix what had been a large problem in the past! I just wanted to give all Presidential dollar collectors the "heads up" on these MS68 business strike non-FDI coins, but, again, hopefully, all of the coins will be heading back to PCGS shortly.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
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Comments
VERY nice to see PCGS acting quickly on this.
Thanks for your efforts as well.
Gardnerville, NV
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Our Website -->Innovation, Native & Presidential Dollar Errors, Lincoln Cents and more
Check it out --> Our eBay Auctions
GrandAm
<< <i>Gary: I understand that the President of PCGS is personally handling an Ike related problem for you. Just give it some time as he is crazy busy with projects right now. Wondercoin >>
I can understand this. What I don't understand is that pictures were provided of the 1976 Type 1 coin showing it to be a Type 2.
As for this Presidential Dollar Satin Finish or no Satin Finish, I've personally seen, from Mint Wrapped Rolls, uncirculated Presidentials that do have a "Satin Finish" look to them right along side Presidential Dollars that have a "Proof Like" look to them. I think the only real guarantee that PCGS has with regard to SF or non-SF is if the coins are graded prior to the release of the SF counterpart coin.
Of the two John Quincy Adams coins below, which one is SF?
The name is LEE!
GrandAm
P.S. No fair if trick question such as both or neither
<< <i>I won the coin last night. The pic definately has a satin finish look, but I figured it was just an awkward view, and relied on the slab number. Anyway, the seller and I have been in contact. He is shipping the coin I won and the others he still has in his possession back to PCGS to be slabbed correctly. The seller was very appologetic to me, and wants to fix the problem as soon as possible. As far as I can tell, none of the coins will now reach the collecting public. Well, for a few hours I thought I may have hit a gonga deal. It is sort of a blessing in disquise, as I was a bit worried the higher end market for Presidentials had tanked badly over night. >>
Can you post a link to this auction please?
The name is LEE!
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Can you post a link to this auction please? >>
If this was a case of fraud or I felt buyer's needed to be warned of this seller, I would post a link to the auction. However, this is not the case. The seller is simply a collector that submits coins to PCGS for his collection, and sells the dupes to help pay for the hobby. Like you, he has seen a lot of Presidentials that he felt looked satin finish or business strike, but PCGS disagreed with his opinion. He simply thought this was another example of that. As soon as he became aware that this was a submission error, he immediately refunded my money, and cancelled any auctions that involved coins from that submission, and is sending all the coins back to PCGS per their request.
Often I have seen members here unfairly jump on a seller in a vigilante frenzy after a link to an auction has been posted. I do not want to see that happen here, and therefore will not post a link. I have full respect for this seller as a fellow Presidential collector. He is going through enough grief and hassle sending these mis-labelled coins back to PCGS. I, in no way want to add to his hassle. Joe
Wondercoin
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Can you post a link to this auction please? >>
If this was a case of fraud or I felt buyer's needed to be warned of this seller, I would post a link to the auction. However, this is not the case. The seller is simply a collector that submits coins to PCGS for his collection, and sells the dupes to help pay for the hobby. Like you, he has seen a lot of Presidentials that he felt looked satin finish or business strike, but PCGS disagreed with his opinion. He simply thought this was another example of that. As soon as he became aware that this was a submission error, he immediately refunded my money, and cancelled any auctions that involved coins from that submission, and is sending all the coins back to PCGS per their request.
Often I have seen members here unfairly jump on a seller in a vigilante frenzy after a link to an auction has been posted. I do not want to see that happen here, and therefore will not post a link. I have full respect for this seller as a fellow Presidential collector. He is going through enough grief and hassle sending these mis-labelled coins back to PCGS. I, in no way want to add to his hassle. Joe >>
The request for the auction link was not to lynch the seller but instead to see the coins. I've never slammed a seller over someone else's mistake.
Send the auction in a PM if you wish, or post pictures from the auction, I just want to see the coin...........
The name is LEE!
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Can you post a link to this auction please? >>
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The request for the auction link was not to lynch the seller but instead to see the coins. I've never slammed a seller over someone else's mistake.
Send the auction in a PM if you wish, or post pictures from the auction, I just want to see the coin........... >>
PM sent.
It is not you or any of the other posters on this thread that I was directing my comments to. It was a general statement, not directed at any paticular person.
<< <i>reminds me of the SMS/MS issue of the 65-67's >>
And unless the US Mint drops this stupid Satin Finish program, it will continue. Time and grading fees will be wasted.
The only year that had satin finish coins which were worth squat doodly was 2005. They've gone downhill since then.................
The name is LEE!
"We only have Uncirculated sets" .............
Gardnerville, NV
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Our Website -->Innovation, Native & Presidential Dollar Errors, Lincoln Cents and more
Check it out --> Our eBay Auctions
They are telephone order takers and not coin collectors.
The name is LEE!