Misattributed large cent in PCGS holder
rhedden
Posts: 6,632 ✭✭✭✭✭
This is definitively not a "large date" 1803, or I would have bought it immediately. An S265 in this grade would be worth a few thousand dollars easily, regardless of surface issues. Does PCGS try to buy these back when they are certified incorrectly as a more valuable variety? Note: not my coin, and the seller priced it as a small date, so let's not annoy them.
1803 misattributed
1803 misattributed
0
Comments
If I recall, it was listed as a Silly Head on the insert, but was the Head of '38.
bbbbroken link
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<< <i> Does PCGS try to buy these back when they are certified incorrectly as a more valuable variety?
1803 misattributed >>
Would likely be handled as "mechanical error" and PCGS would handle correcting the label for free, but it would need to be sent in to them (or, maybe handled at a show they are at and where they may have the equipment to reholder)
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>ffffixed link. Sorry! >>
grassyass
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<< <i>Would likely be handled as "mechanical error" and PCGS would handle correcting the label for free >>
I can pretty much guarantee that they won't buy the label back for the value of the coin they say is in there, when it's not.
In fact, I believe they state this clearly in one of their disclaimers regarding mechanical errors.
Empty Nest Collection
<< <i>
<< <i> Does PCGS try to buy these back when they are certified incorrectly as a more valuable variety?
1803 misattributed >>
Would likely be handled as "mechanical error" and PCGS would handle correcting the label for free, but it would need to be sent in to them (or, maybe handled at a show they are at and where they may have the equipment to reholder) >>
Not necessarily.
I once was offered a medium letters 1830 large cent in an PCGS AU55 holder for $8500 with Heritage brokering the deal. After receiving the coin, I realized it was in fact an 1830 Large Letters variety, worth about $700. The last public sale of the coin came from a Bowers and Merena sale, where it was mis-cataloged as well. PCGS bought that coin back. Whether they recovered anything from B & M, or the original submitter of the raw coin to PCGS, I don't know.
BTW, the PCGS price guide lists an 1803 Large Date Large Fraction at worth $515 in F15. I paid over 8X that for my F-15 example. This is one of those instances where infrequently traded coins are grossly mis-priced in the price guide.
rays example is an interesting one. I suspect that PCGS either felt they graded it wrong (not typed the label wrong) or they settled somehow with HA. The 1830 medium letters is a tough coin, and the large letters variety is sometimes mistaken for the medium.
Lance.
Looks dark, but close to XF'ish.
peacockcoins
From what I've heard they do not "make it right" when such a misattribution happens, but that's hearsay and not direct experience.
I'd also love to know who the scumbag was on the other end of the 1830 medium letters transaction, who used Heritage as a clueless front man. I guarantee they knew it was a "large letters" coin. I hope they got exposed.
<< <i>I'm guessing that if someone got burned for $8,000 sight-unseen, as in the case of the 1830 medium letters, PCGS would step up and make it right. However, I would assume it will be treated as a mechanical error in a case like this one.
I'd also love to know who the scumbag was on the other end of the 1830 medium letters transaction, who used Heritage as a clueless front man. I guarantee they knew it was a "large letters" coin. I hope they got exposed. >>
Your suppositions about the seller and Heritage's role in the matter are incorrect.