PL $20 gold?
logger7
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I was following this "private" listing; I'm not sure what to make of it, NGC will grade gold coins PL, has PCGS loosened up its requirements on PL gold? Would this one straight grade?
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You would think it has been tried, but who knows?
I had a really nice PL 1898-S $20 several years ago.
NGC disagreed, but gave it a grade bump that it didn't really deserve so I did OK on it anyway.
I suspect it eventually made its way into a PL holder because of who bought it from me...and he didn't even try to negotiate.
The coin above looks slightly PL from the pics, but who knows..my guess is s coin has to be DMPL to be PL.
They're rare. I've only seen one and sold it in the shop.
A while back I sold an NGC 1895-s MS-62 PL. They are rare and amazing coins:
https://www.ebay.com/itm/263285576180?_trksid=p2471758.m4704
Meaning that who submits the coin has something to do with how it gets graded?
What amazes me is how cheesy the photography is that the seller used to offer this piece. He even had the reverse pictured upside down!
Bad photography sets alarm bells off in my head. It often shows that the seller has something hide, like a problem or more often a counterfeit. This piece looks genuine, but if you have something that’s worth a few thousand dollars, why post pictures that look like this?
As for getting designations like Proof-Like and Cameo, I have yet to figure out what the TPG’s criteria are. I have an 1869 Proof Seated Dollar that has “Cameo” on for reasons that elude me. I also an 1883 Proof Morgan Dollar with cameo on both sides that didn’t get the designation. Aside from the Morgan Dollars, I’ve the same inconsistences other series when it comes to P-L.
When you buy something like this, you are taking the responsibility to get the designation for the high prices. It’s like the dealer who is offering a coin that appears to rate a crack-out, who wants all the money as if the crack-out has already worked. Why bother with that? He hasn’t spent the money to try for the crack-out grade, why pay it to him?
To do pricing analysis on this coin, you have to go to the NGC coins as PCGS does not offer the PL on gold coins like this: https://coins.ha.com/itm/liberty-double-eagles/1895-s-20-ms63-prooflike-ngc/a/1234-6108.s?type=NGC1234
https://www.ngccoin.com/coin-explorer/liberty-head-20-1850-1907-pscid-69/1895-s-20-mspl-coinid-519028
If the coin is a 62 or better PL they should have paid the to and from shipping and $50 or so express grading.
It appears that from the 1860s to early 20th century working dies for most denominations received similar repair and surface maintenance, This work was the cause of proof-like fields. Given die dimensions, steel quality, and press force it is likely that PL coins were made in proportion to coin dimension and production quantity.
If correct, this implies a stable proportion of PL coins in relation to diameter.
Further, we would expect survival of PL coins in proportion to total production for circulation.