Yeah, the wrong font on the grade for those slabs. In 2010, I and several VAM World members noticed an ebay seller NYCOINMART, apparently owned by Kevin McNerney, offering clearly AU Morgan dollars graded MS64 and MS65 in the old mid 1990s style PCI green 10 digit serial number slabs. But the font for the grade was the style used much later, and never with the first generation slabs. The ebay seller insisted these were graded years ago, despite pristine slabs, serial numbers in sequence, an the wrong font. Some VAMWorld people were threatened with lawsuits if they ience, helpfully pointed out that some people consider the old 10 digit PCI slabs to be graded equal to today's PCGS standards. Generally true, except those slabs were not from that era, even though the seller claimed that they were.
I just saw a Racketeering lawsuit filed by the relatives of a deceased Texas man awarded $536,000 in damages and $1.6 million in RICO claims.
It clears up a lot of the mystery. PCI Coin Grading was bought by Anthony Delluniversita in November 2010. A company called PCA was a boiler room coin telemarketer owned by Paul Delluniversita and his son Anthony. Paul testified he never knew the grading company he was sending coins to (PCI) was owned by his own son Anthony, or that Anthony was the sole grader, or that the mid 1990s slab style was imitated on purpose with intent to deceive. Here are the entities charged with fraud. (notice Kevin McNerney is listed)
Albert P. Malvino, Plaintiff
vs
PCI Coin Grading, Inc., Cross Claimant Tony John Delluniversita, Cross Defendant Dennis J Daidone, Defendant Paul A. Delluniversita, Defendant Tony John Delluniversita, Defendant Kevin McNerney, Defendant PCA Collectibles, Inc., Defendant PCI Coin Grading, Inc., Defendant
I don't see if the Malvino family ever got paid, but the full document is HERE (pdf format)
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
PCI was the first firm to offer the signature series labels. For example, numismatists like J.T. Stanton were part of the program. A collector could request a variety designation from one of these folks. The PCI graders, sent the coin and the variety to the expert to confirm, when the coin was returned, the coin was slabbed with that variety and the expert's signature. It was a very small part of their business.
PCI was also the first TPGS to slab "problem" coins (red label) while the other services were taking the money "for nothing" and running for the hills...LOL. I heard that the owner of PCI stated that if he had known the demand for slabbing problem coins was so great, he should have done it from the beginning!
PCI and ANACS certified ALL varieties while NGC and PCGS only did a VERY LIMITED number. One variety expert at those companies felt that collector coins like a 1972 1c DDO-007 was not worth attributing and labeling the coin as such!
As said, some of the green label PCI coins are right on when it comes to grading and some are not. I had one green label PCI CBH that I cracked out come back AU-50 by PCGS. It was graded XF-40 by PCI.
No, living in Europe I am saving up a few before sending a package. The coin is decent and surfaces or unprocessed but not a 64 or even MS. Glad you care so much Wabbit to wade through hundreds of threads in absence of a search function to bump the thread.
Since you care so much, here are quick pics of the coin.
wow, definitely not ms after seeing your new photos. i would not shy away from a coin in one of these holders, i would just make sure the coin is legit and i got a good price, which it seems like you did.
I'll lose money but win the big ones and lose small ones is still a profitable game
I guess that's a good spin, but if you're smart(and I think you are) you would just sort of avoid buying these PCI slabs as we have diagnosed them for you. that's the best rule of thumb sight-unseen as I believe you purchased the Indian. sight-seen is a different thing altogether, but as general rule it is best to view ALL coins in PCI holders as being raw.
I'll lose money but win the big ones and lose small ones is still a profitable game
I guess that's a good spin, but if you're smart(and I think you are) you would just sort of avoid buying these PCI slabs as we have diagnosed them for you. that's the best rule of thumb sight-unseen as I believe you purchased the Indian. sight-seen is a different thing altogether, but as general rule it is best to view ALL coins in PCI holders as being raw.
Originally posted by: Frankcoins Yeah, the wrong font on the grade for those slabs. In 2010, I and several VAM World members noticed an ebay seller NYCOINMART, apparently owned by Kevin McNerney, offering clearly AU Morgan dollars graded MS64 and MS65 in the old mid 1990s style PCI green 10 digit serial number slabs. But the font for the grade was the style used much later, and never with the first generation slabs. The ebay seller insisted these were graded years ago, despite pristine slabs, serial numbers in sequence, an the wrong font. Some VAMWorld people were threatened with lawsuits if they ience, helpfully pointed out that some people consider the old 10 digit PCI slabs to be graded equal to today's PCGS standards. Generally true, except those slabs were not from that era, even though the seller claimed that they were.
I just saw a Racketeering lawsuit filed by the relatives of a deceased Texas man awarded $536,000 in damages and $1.6 million in RICO claims.
It clears up a lot of the mystery. PCI Coin Grading was bought by Anthony Delluniversita in November 2010. A company called PCA was a boiler room coin telemarketer owned by Paul Delluniversita and his son Anthony. Paul testified he never knew the grading company he was sending coins to (PCI) was owned by his own son Anthony, or that Anthony was the sole grader, or that the mid 1990s slab style was imitated on purpose with intent to deceive. Here are the entities charged with fraud. (notice Kevin McNerney is listed)
Albert P. Malvino, Plaintiff
vs
PCI Coin Grading, Inc., Cross Claimant Tony John Delluniversita, Cross Defendant Dennis J Daidone, Defendant Paul A. Delluniversita, Defendant Tony John Delluniversita, Defendant Kevin McNerney, Defendant PCA Collectibles, Inc., Defendant PCI Coin Grading, Inc., Defendant
I don't see if the Malvino family ever got paid, but the full document is HERE (pdf format)
Thank you for the history lesson. That decision is a good example of a well-written decision by a non-coin collector judge who took the time to understand and explain in simple terms the facts of a case. Great read--some bad people there, i.e., Delluniversita!
Comments
As a buyer: QualityCurrencycom, tychojoe, AurumMiner, Collectorcoins, perfectstrike, ModCrewman, LeeBone, nickel, REALGATOR, MICHAELDIXON, pointfivezero, Walkerguy21D
Trades: georgiacop50
I just saw a Racketeering lawsuit filed by the relatives of a deceased Texas man awarded $536,000 in damages and $1.6 million in RICO claims.
It clears up a lot of the mystery. PCI Coin Grading was bought by Anthony Delluniversita in November 2010. A company called PCA was a boiler room coin telemarketer owned by Paul Delluniversita and his son Anthony. Paul testified he never knew the grading company he was sending coins to (PCI) was owned by his own son Anthony, or that Anthony was the sole grader, or that the mid 1990s slab style was imitated on purpose with intent to deceive. Here are the entities charged with fraud. (notice Kevin McNerney is listed)
Albert P. Malvino, Plaintiff
vs
PCI Coin Grading, Inc., Cross Claimant
Tony John Delluniversita, Cross Defendant
Dennis J Daidone, Defendant
Paul A. Delluniversita, Defendant
Tony John Delluniversita, Defendant
Kevin McNerney, Defendant
PCA Collectibles, Inc., Defendant
PCI Coin Grading, Inc., Defendant
I don't see if the Malvino family ever got paid, but the full document is
HERE (pdf format)
The $536,000 was most likely a civil judgement.
The $1.6 million was a criminal conviction fine under the RICO statute.
IOW, they got their asses handed to them.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
PCI was also the first TPGS to slab "problem" coins (red label) while the other services were taking the money "for nothing" and running for the hills...LOL. I heard that the owner of PCI stated that if he had known the demand for slabbing problem coins was so great, he should have done it from the beginning!
PCI and ANACS certified ALL varieties while NGC and PCGS only did a VERY LIMITED number. One variety expert at those companies felt that collector coins like a 1972 1c DDO-007 was not worth attributing and labeling the coin as such!
My have times changed.
Did you get the results back from grading yet?
Since you care so much, here are quick pics of the coin.
Latin American Collection
That coin has the font from the earlier days- like the mid 1990's at the time it was graded. I suspect that coin toned in the holder over time.
Boosbri- hope the submission goes well
Experience the World through Numismatics...it's more than you can imagine.
PS, seems right to have an AU coin in that particular holder.
I avoid them. There were never one of the grading services taken by Ebay, Teletrade, GC.
For the longest time they were accepted by eBay.
Not sure about Teletrade (I don't think so though).
peacockcoins
I've learned a lot the brief time I've been a member on this board.
Maybe the group can help.
So, let me get my pics together so I can get opinions them, if worth resending.
Another day to learn
Everything is all right!
We all have stories to tell. For example, someone told me that Captain H. USED TO BE a TPGS grader.
Hope he gets the "drift" of my message.
Somebody once told me that PCI stood for "Problem Coin Inside."
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Latin American Collection
I guess that's a good spin, but if you're smart(and I think you are) you would just sort of avoid buying these PCI slabs as we have diagnosed them for you. that's the best rule of thumb sight-unseen as I believe you purchased the Indian. sight-seen is a different thing altogether, but as general rule it is best to view ALL coins in PCI holders as being raw.
I'll lose money but win the big ones and lose small ones is still a profitable game
I guess that's a good spin, but if you're smart(and I think you are) you would just sort of avoid buying these PCI slabs as we have diagnosed them for you. that's the best rule of thumb sight-unseen as I believe you purchased the Indian. sight-seen is a different thing altogether, but as general rule it is best to view ALL coins in PCI holders as being raw.
Yep, I messed up on the generation
Latin American Collection
Yeah, the wrong font on the grade for those slabs. In 2010, I and several VAM World members noticed an ebay seller NYCOINMART, apparently owned by Kevin McNerney, offering clearly AU Morgan dollars graded MS64 and MS65 in the old mid 1990s style PCI green 10 digit serial number slabs. But the font for the grade was the style used much later, and never with the first generation slabs. The ebay seller insisted these were graded years ago, despite pristine slabs, serial numbers in sequence, an the wrong font. Some VAMWorld people were threatened with lawsuits if they ience, helpfully pointed out that some people consider the old 10 digit PCI slabs to be graded equal to today's PCGS standards. Generally true, except those slabs were not from that era, even though the seller claimed that they were.
I just saw a Racketeering lawsuit filed by the relatives of a deceased Texas man awarded $536,000 in damages and $1.6 million in RICO claims.
It clears up a lot of the mystery. PCI Coin Grading was bought by Anthony Delluniversita in November 2010. A company called PCA was a boiler room coin telemarketer owned by Paul Delluniversita and his son Anthony. Paul testified he never knew the grading company he was sending coins to (PCI) was owned by his own son Anthony, or that Anthony was the sole grader, or that the mid 1990s slab style was imitated on purpose with intent to deceive. Here are the entities charged with fraud. (notice Kevin McNerney is listed)
Albert P. Malvino, Plaintiff
vs
PCI Coin Grading, Inc., Cross Claimant
Tony John Delluniversita, Cross Defendant
Dennis J Daidone, Defendant
Paul A. Delluniversita, Defendant
Tony John Delluniversita, Defendant
Kevin McNerney, Defendant
PCA Collectibles, Inc., Defendant
PCI Coin Grading, Inc., Defendant
I don't see if the Malvino family ever got paid, but the full document is
HERE (pdf format)
Thank you for the history lesson. That decision is a good example of a well-written decision by a non-coin collector judge who took the time to understand and explain in simple terms the facts of a case. Great read--some bad people there, i.e., Delluniversita!
Tom