Reason not to buy ANACS coins in old white holders
rhedden
Posts: 6,567 ✭✭✭✭✭
This 1861-S half dollar came to me via eBay several years ago. I think I paid $360 or so for it, and it's a real "super slider" with full luster and MS details. Prices have risen dramatically, and PCGS AU58 examples of these have auctioned from $1,300 to $1,700+ lately, so it was time to give it a shot at crossing. I decided to crack it out and submit raw, and found two small but noticeable rim hits on it on the reverse at 12:00. Good luck seeing those with the white plastic. There was just no sign. The coin is at PCGS presently, and I should be able to post the grade soon, but please feel free to make a guess.
Just in case you're not convinced, check out my chain cent. Raw, and in its old ANACS holder. Coin has a large number of (intentional looking) rim nicks, and they're less visible in the plastic. I submitted this one myself, so there will be no surprise upon cracking it, unless I decide to deceive the next owner.
For those of you who complain when PCGS won't cross an old ANACS coin, here's one possible reason. Graders don't have X-ray vision and can't see the rims through white plastic. I used to trust the old ANACS grading and consider it equal to PCGS standards, but it is clear that some people used ANACS as a way to hide rim issues with no disclosure at resale.
Just in case you're not convinced, check out my chain cent. Raw, and in its old ANACS holder. Coin has a large number of (intentional looking) rim nicks, and they're less visible in the plastic. I submitted this one myself, so there will be no surprise upon cracking it, unless I decide to deceive the next owner.
For those of you who complain when PCGS won't cross an old ANACS coin, here's one possible reason. Graders don't have X-ray vision and can't see the rims through white plastic. I used to trust the old ANACS grading and consider it equal to PCGS standards, but it is clear that some people used ANACS as a way to hide rim issues with no disclosure at resale.
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Comments
<< <i>...but it is clear that some people used ANACS as a way to hide rim issues with no disclosure at resale. >>
Not sure what you mean. Doesn't any non-prong holder "hide" most of the rims? And how could submitter's use ANACS as a way to hide problem coins? Did the submitters think (know?) ANACS would slab their problem coins as problem free because their slabs might cover the problem? I'm not following you here.
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What if the coin comes back MS62 from PCGS?
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Beat me to it.
like an error coin...
LM-ANA3242-CSNS308-MSNS226-ICTA
<< <i>what is the anacs grade of the chain ? >>
If it's not a details grade I call BS. Unless it magically picked up the active PVC after being cracked out.
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
I guess it is possible that anacs either missed the rim hits or thought that they were too minor to affect a problem free grade.
JMHO
WS
So far as the rims on that piece, I can't see when the holder was hiding anything. The rim problems are obvious in both cases.
Conversely, the depression on Liberty's throat of the Chain cent is already significant enough to make the rim damage seem secondary.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
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<< <i>Looks like a MS61-62 piece. I agree I would think the rim hits would of been visible even in the holder. >>
<< <i>The images of the '61-S half don't present any evidence of what you are concerned about, and the surface damage on the Chain cent obverse would preclude any issue with the rims. I don't follow your point here. I only see one insignificant rim nick adjacent to star 12 on the half.
Conversely, the depression on Liberty's throat of the Chain cent is already significant enough to make the rim damage seem secondary. >>
It's Chain Cent. So long as one these is "still breathing" the graders often ignore a lot. Given the grade, none of the marks bother me on the Chain Cent so long as it isn't graded any higher than Good.
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<< <i>Looks like a MS61-62 piece. I agree I would think the rim hits would of been visible even in the holder. >>
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Ditto.
Worry is the interest you pay on a debt you may not owe.
It's supposed to be "About" Uncirculated IMO.
No. I am aware of the rim problem issue, and I went all the way around the rim with a loupe before cracking. I was totally shocked when I found two fairly significant dings that were not visible in the plastic.
What if the coin comes back MS62 from PCGS?
Then I will have a coin that is worth the same as an AU58, possibly less.
If it's not a details grade I call BS. Unless it magically picked up the active PVC after being cracked out.
Chain is "VG details, net G4" or something like that. But there is no PVC. There is some light corrosion.