HUGE PCGS error could cost someone a lot of money - Buy the coin not the plastic!

seateddime · May 3, 2013 10:00AM

I hope this link works but there is a 1840 O Large O quarter but this in not the FS-501.

This is a No Drapery coin, not the rare With Drapery 1840 Large O.

I have told the seller of the error.

http://www.ebay.com/itm/Scarce-1840-O-PCGS-XF40-Drapery-Large-O-Seated-Liberty-Quarter-/400480528173?pt=Coins_US_Individual&hash=item5d3e7fe72d&autorefresh=true

Unknown · May 3, 2013 10:01AM

This content has been removed.

DIMEMAN · May 3, 2013 10:18AM

Anybody that knows the series should not be fooled on this one.

ebaybuyer · May 3, 2013 10:29AM

ive said it before and ill say it again, its too bad that the TPG's dont have access to the reference materials that us collectors do. not even the correct reverse die for the variety, is there a buy back policy for mis-attributions or is the owner on the hook for this one ?

seateddime · May 3, 2013 10:42AM

Here is what the coin should look like

sniocsu · May 3, 2013 10:50AM

Ouch. I wonder what the offers on this one are like.

19Lyds · May 3, 2013 12:08PM

<< ive said it before and ill say it again, its too bad that the TPG's dont have access to the reference materials that us collectors do. not even the correct reverse die for the variety, is there a buy back policy for mis-attributions or is the owner on the hook for this one ? >>

PCGS does guarantee their attributions but the real question is: How in line is the Current Market Value with the BIN Price?

If the BIN Price is out of line with the current Market, PCGS will NOT make up the difference.

tradedollarnut · May 3, 2013 12:14PM

PCGS does guarantee their attributions

Not always. Remember the 1945 FB dime that was readily obvious it wasn't FB? PCGS called it a mechanical error and refused to pay. Could be the same case here - you just never know.

Moldnut · May 3, 2013 12:25PM

<< 

<< ive said it before and ill say it again, its too bad that the TPG's dont have access to the reference materials that us collectors do. not even the correct reverse die for the variety, is there a buy back policy for mis-attributions or is the owner on the hook for this one ? >>

PCGS does guarantee their attributions but the real question is: How in line is the Current Market Value with the BIN Price?

If the BIN Price is out of line with the current Market, PCGS will NOT make up the difference. >>

If it was the "1840-O Lg O" the asking price would be in line. As it is, its a $500 coin.

SeattleSlammer · May 3, 2013 12:54PM

Ouch, clearly zilch drapery.

19Lyds · May 3, 2013 1:16PM

<< PCGS does guarantee their attributions

Not always. Remember the 1945 FB dime that was readily obvious it wasn't FB? PCGS called it a mechanical error and refused to pay. Could be the same case here - you just never know. >>

You may be right since that particular coin is NOT in the Populations. There are no XF40 coins for coin #395925!

claychaser · May 3, 2013 2:29PM

Another interesting quandry is that while the pop report does not show a single example in that grade, the cert veriification shows the coin as "with drapery", and the same coin is pictured as a with drapery variety in Coin Facts.

lkeigwin · May 3, 2013 2:47PM

<< ive said it before and ill say it again, its too bad that the TPG's dont have access to the reference materials that us collectors do. not even the correct reverse die for the variety, is there a buy back policy for mis-attributions or is the owner on the hook for this one ? >>

The TPG's have all the reference material. They just go fast and make a small percentage of mistakes.

This would be a mechanical. The seller should know better.
Lance.

lkeigwin · May 3, 2013 2:48PM

<< Another interesting quandry is that while the pop report does not show a single example in that grade, the cert veriification shows the coin as "with drapery", and the same coin is pictured as a with drapery variety in Coin Facts.

>>

That's crazy.
Lance.

3keepSECRETif2rDEAD · May 3, 2013 3:19PM

<< 

<< ive said it before and ill say it again, its too bad that the TPG's dont have access to the reference materials that us collectors do. not even the correct reverse die for the variety, is there a buy back policy for mis-attributions or is the owner on the hook for this one ? >>

The TPG's have all the reference material. They just go fast and make a small percentage of mistakes.

This would be a mechanical. The seller should know better.
Lance. >>

If indeed a mechanical error by PCGS...then did someone else's same coin that was sent in for variety attribution gat slabbed and graded as the non variety??? Interesting to me will be the final course of action taken on this coin and the mechanical error?

Erik

yosclimber · May 3, 2013 3:33PM

Deja vu to the "Where's the Drapery?" thread from Wednesday, with the same problem for an 1840 Half Dime:
http://forums.collectors.com/messageview.cfm?catid=26&threadid=887926
http://www.ebay.com/itm/1840-Seated-Liberty-Half-Dime-Drapery-H10C-PCGS-XF-Details-Rare-Date-Coin-/140967989436?pt=Coins_US_Individual&hash=item20d258d0bc

lava · May 3, 2013 4:54PM

<< PCGS does guarantee their attributions

Not always. Remember the 1945 FB dime that was readily obvious it wasn't FB? PCGS called it a mechanical error and refused to pay. Could be the same case here - you just never know. >>

What kind of mechanical error is that -- the grader was having a bad day so someone else eats it?

LochNESS · May 3, 2013 8:14PM

<< Deja vu to the "Where's the Drapery?" thread from Wednesday, with the same problem for an 1840 Half Dime:
http://forums.collectors.com/messageview.cfm?catid=26&threadid=887926
http://www.ebay.com/itm/1840-Seated-Liberty-Half-Dime-Drapery-H10C-PCGS-XF-Details-Rare-Date-Coin-/140967989436?pt=Coins_US_Individual&hash=item20d258d0bc >>

At first I actually thought this WAS the other thread from Wednesday. Hard to believe there's two of these errors for sale at the same time. What happened to Lance's "small percentage of mistakes"

Manorcourtman · May 3, 2013 8:37PM

It's amazing he rec'd offers on it. That's a coin for the advanced collector who should know better. I also emailed the seller.

astrorat · May 3, 2013 11:54PM

<< ive said it before and ill say it again, its too bad that the TPG's dont have access to the reference materials that us collectors do. >>

Huh? So when, say PCGS or NGC, attribute an Overton variety, VAM, etc, they are just randomly guessing? What makes you think they don't have access?

ebaybuyer · May 4, 2013 1:31AM

What makes you think they don't have access? <<< apparently .... this one was "just a random guess"

HUGE PCGS error could cost someone a lot of money - Buy the coin not the plastic!

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