I can't imagine paying $5 bucks for that thing in it's condition... much less the $51 it's currently up to. What are the bidders thinking? Can it be "preserved" or otherwise cleaned? Yuck.
Had a steel cent do the same in the holder. It was inside a new safe. I surmised it was the new paint gassing off. Lot's of perils for coins, even in slabs.
I was going through my coins in the past few months and I have a bad MS67 steel cent too. I store my coins very carefully in low humidity and was quite surprised. I guess I will talk with PCGS at the next show to see what my options are.
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
If you spent $75 on this and then sent it back to PCGS would they not buy it back for the $150 price guide value? You'd make $75 on the deal......dumb way to make money though.
bob
Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
Seller is under the mistaken impression that PCGS would make a guarantee payout (but he says it's not worth it).
As most of us know, today PCGS does not cover "coins exhibiting environmental deterioration subsequent to PCGS grading and encapsulation. This deterioration may include, but is not limited to, spotting, hazing, PVC contamination, changes in color, and corrosion."
I'm shocked by the $51 bid. You can buy a nice PCGS MS67 for a little more than $100. But kudos to the seller for being straight about the coin.
Lance.
The coin looked like the below after searching high/low for an OGH version (that I knew wouldn't have been messed with). Found one, sent off to CAC, and it beaned...
Put the coin in my safe, it came out like that...less than a year for sure.
I've been telling people that TPG holders are not airtight yet committed the same stupid mistake myself (now twice!..I had a 1970-S PR69DCAM 25C that I paid nearly $1k go bad...PCGS compensated me about $500, and we collectors have short memories...I put the Lincoln into my safe not even thinking about it ). Back to searching for another PQ 1943 steel cent.
And Lance yes, I'm cringing every time someone bids. I was thinking it would sell for like $10 as a novelty, but whoa! I can't believe it's over $50 already.
ADDED: Don't laugh, my Description was far worse but eBay has AI and flagged the listing and wouldn't let me post a listing that discourages people from bidding on my item. So I had to continuously massage the language until it accepted the description. Can't make this stuff up...
@1630Boston said:
Should slabs be placed in plastic sleeves ??
How to prevent tis.
I believe that the only thing a plastic sleeve will do for you is to prevent scratches on the slab window from other slabs. The tricks to coin preservation is to keep the coins dry at constant temperatures and for goodness sake don't put stuff that is filled with sulfur, like rubber bands, in your safe deposit box. Medal-Safe and that sort of stuff is supposed to help although I've never used it.
Most coins that "go bad" do so because they have been dipped and not properly rinsed. That's why I like old slabs when I can get them. If the coin has not done anything for 10 years, chances are it won't do anything now given proper storeage.
Stay away from storage spots that have outside walls in cold climates. The temperation goes up and down a lot more even though you are heating your house. I once had a problem with a bank that had its vault on an outside wall. Ditto for a closet that was on an outside wall in New Jersey. The temperature changes left some of my coins spotted. This was in the early to mid 1970s.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
@1630Boston said: @BillJones
My SD box is on an outside bank wall !
I should see if one on the opposite wall is available.
That makes sense, thanks
Better still go for a bank where the vault is in the middle of the room. I once had a box in a nice dry basement of the big old Boston bank. They kept the temperatures steady, and coins were happy. Also the chances of crooks breaking in the vault over the weekend, which happened at a Malden, Massachusetts bank when I lived there, were slim.
I understood that some of the boxes that were rifled belonged to some mob members and oddly enough the owners got their stuff back. Getting pinched by the cops is one thing. Dealing with an angry mob guy is another. They have some less than civilized ways of dealing with those who cross them.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
I'm thinking the buyer of this coin will have a rude awakening if he or she attempts to submit it for PCGS's guarantee.
From PCGS website-
_Coins that are environmentally damaged. The PCGS holder, while excellent for long term storage and protection, does not protect coins from harsh environmental conditions. Consequently, the PCGS Guarantee does not apply to coins which have been environmentally damaged. For example, if your coins are damaged in a flood or fire, the PCGS Guarantee would not apply to those coins. This also applies to copper coins stored in environmentally risky locations (high humidity, see next paragraph.)
Coins exhibiting environmental deterioration. The PCGS Guarantee does not apply to coins exhibiting environmental deterioration subsequent to PCGS grading and encapsulation. This deterioration may include, but is not limited to, spotting, hazing, PVC contamination, changes in color, and corrosion.
IMPORTANT: Because the color and surfaces of copper coins can change due to environmental factors, including weather and improper storage, PCGS does not guarantee against changes in the color of copper coins, or against copper spotting subsequent to grading and encapsulation by PCGS._
@BillJones
i agree with all that you have said, but SD boxes, especially the 'large' ones [which are not that large] are few and far between here.
I've also noticed that they are switching from the old metal boxes to plastic boxes.
I went to a local bank to meet a guy about some silver bars this winter and the banks vault was freezing... as soon as they opened the door it was like walking into a fridge.... I had wondered if that would affect coins if stored there.. It s my bank so now I know to look for another bank when looking for a SDB. Thanks for the info all.
A couple of PCGS MS-67 examples (no CAC) sold for $91 and $92 respectively. The $91 for the OP coin seems high in comparison - Someone must be paying for the CAC sticker, and not looking at the coin.
Here's another interesting lincoln - Sold for $51 on March 14th.
I cannot fathom the prices paid for those if they are in fact the prices paid.
I can grab a broom and dust pan and find better examples on my garage floor
Steel cents sure are inherently fragile. I've never had one turn on me in normal storage within a mylar 2x2, but one time I took some average BU P-D-S examples out of cardboard 2x2's (coins were fine at that point) and placed them into a (cheap pulp cardboard center) snaplock 3-coin holder "just for fun" as a gift to a non collecting friend. I took awhile to get around to it and, when a few weeks had passed and I went to give the gift, I was appalled at the ring of red rust around the rim of each coin! The cheap manufacturing (laden with who knows what chemicals) cardboard center was to blame, as storage conditions had remained consistent and all other coins were fine.
Let it be known how fragile the steel cents in BU shape can be!
@originalisbest
You are correct, in good condition I really do appreciate them. Both for their beauty and more so for the US History that they represent.
I also stored some of my slabbed coins in one of my banks in New York State becausethe hours were awesome...open Saturday AND Sunday. Problem is that the safe deposit box was on the southern wall. I noticed one hot summer day that the safe deposit box was very hot to the touch. I realized the box was a terrible location for storing red copper coins even with intercept and metal safe so I yanked them out of there before my coins got ruined and moved them to another bank also with southern exposure but also many trees shading the exterior wall. I previously knew not to store the coins on a northern wall as the temperature would change too much in the winter but never thought about the summer temperature changes.
I also noticed that gold coins were very impervious to environmental stress.
@oreville
You are very lucky to have bank storage options, none the less, I WILL check out my box location tomorrow and assess the situation, thanks for your input.
A more high priced example of a coin that turned in the holder:
Ms Liberty apparently sneezed in the slab. The TrueView does not reflect any brownish of the area around the face of Ms. Liberty. As I recall the coin was PR66 or 67 and asking price was $3,800.00.
I have two rolls of '43's that I purchased in 1994... have never opened them.... Thought about it once or twice, just never actually did it..... perhaps I will...not sure what I will find, though the end coins look great.... Cheers, RickO
Comments
I wonder how he stored that.
@basetsb_coins on Instagram
Under the kitchen sink would do it, I think...
The NH seacoast atmosphere is just as troublesome as the Florida or Georgia seacoast atmosphere.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
I can't imagine paying $5 bucks for that thing in it's condition... much less the $51 it's currently up to. What are the bidders thinking? Can it be "preserved" or otherwise cleaned? Yuck.
Click on this link to see my ebay listings.
That coin is definitely shot. That's a shame.
My YouTube Channel
This has to be registry madness. That's the only possible explanation. They want the holder.
RIP Mom- 1932-2012
I had a nice steel cent in my Dansco, and it is now rusted. I've thought it was due more to the paper, than the atmosphere in the closet shelf.
For the referenced coin, that must have been in a very bad environment...
Could it be an example of a "gassed" coin experiment gone bad?
That piece won't fit into my collection
perhaps its being bid up by concerned citizens who want to send it back to pcgs and cac to have it regraded so it doesn't taint the pops ?
It could happen
And that coin has a green bean?
Yes, it looked nice before it became contaminated in the holder.
@basetsb_coins on Instagram
Had a steel cent do the same in the holder. It was inside a new safe. I surmised it was the new paint gassing off. Lot's of perils for coins, even in slabs.
That is troublesome yet I did enjoy the refreshing honesty within the auction description.
I was going through my coins in the past few months and I have a bad MS67 steel cent too. I store my coins very carefully in low humidity and was quite surprised. I guess I will talk with PCGS at the next show to see what my options are.
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
Findley Ridge Collection
About Findley Ridge
It definatly turned pretty quickly it seems like
HAPPY COLLECTING
bet the seller is a member here.
Wow must have turned quick
I was gonna say, someone could just ask him..
If you spent $75 on this and then sent it back to PCGS would they not buy it back for the $150 price guide value? You'd make $75 on the deal......dumb way to make money though.
bob
Seller is under the mistaken impression that PCGS would make a guarantee payout (but he says it's not worth it).
As most of us know, today PCGS does not cover "coins exhibiting environmental deterioration subsequent to PCGS grading and encapsulation. This deterioration may include, but is not limited to, spotting, hazing, PVC contamination, changes in color, and corrosion."
I'm shocked by the $51 bid. You can buy a nice PCGS MS67 for a little more than $100. But kudos to the seller for being straight about the coin.
Lance.
LOL, I just realized this thread is about my coin
The coin looked like the below after searching high/low for an OGH version (that I knew wouldn't have been messed with). Found one, sent off to CAC, and it beaned...
Put the coin in my safe, it came out like that...less than a year for sure.
I've been telling people that TPG holders are not airtight yet committed the same stupid mistake myself (now twice!..I had a 1970-S PR69DCAM 25C that I paid nearly $1k go bad...PCGS compensated me about $500, and we collectors have short memories...I put the Lincoln into my safe not even thinking about it ). Back to searching for another PQ 1943 steel cent.
And Lance yes, I'm cringing every time someone bids. I was thinking it would sell for like $10 as a novelty, but whoa! I can't believe it's over $50 already.
ADDED: Don't laugh, my Description was far worse but eBay has AI and flagged the listing and wouldn't let me post a listing that discourages people from bidding on my item. So I had to continuously massage the language until it accepted the description. Can't make this stuff up...
Looks like someone is buying a holder!
Rob
Successful Trades with: Coincast, MICHAELDIXON
Successful Purchases from: Manorcourtman, Meltdown
Should slabs be placed in plastic sleeves ??
How to prevent tis.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
I believe that the only thing a plastic sleeve will do for you is to prevent scratches on the slab window from other slabs. The tricks to coin preservation is to keep the coins dry at constant temperatures and for goodness sake don't put stuff that is filled with sulfur, like rubber bands, in your safe deposit box. Medal-Safe and that sort of stuff is supposed to help although I've never used it.
Most coins that "go bad" do so because they have been dipped and not properly rinsed. That's why I like old slabs when I can get them. If the coin has not done anything for 10 years, chances are it won't do anything now given proper storeage.
Stay away from storage spots that have outside walls in cold climates. The temperation goes up and down a lot more even though you are heating your house. I once had a problem with a bank that had its vault on an outside wall. Ditto for a closet that was on an outside wall in New Jersey. The temperature changes left some of my coins spotted. This was in the early to mid 1970s.
@BillJones
My SD box is on an outside bank wall !
I should see if one on the opposite wall is available.
That makes sense, thanks
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Better still go for a bank where the vault is in the middle of the room. I once had a box in a nice dry basement of the big old Boston bank. They kept the temperatures steady, and coins were happy. Also the chances of crooks breaking in the vault over the weekend, which happened at a Malden, Massachusetts bank when I lived there, were slim.
I understood that some of the boxes that were rifled belonged to some mob members and oddly enough the owners got their stuff back. Getting pinched by the cops is one thing. Dealing with an angry mob guy is another. They have some less than civilized ways of dealing with those who cross them.
Sorry that happened to your coin!
Great transactions with oih82w8, JasonGaming, Moose1913.
I'm thinking the buyer of this coin will have a rude awakening if he or she attempts to submit it for PCGS's guarantee.
From PCGS website-
_Coins that are environmentally damaged. The PCGS holder, while excellent for long term storage and protection, does not protect coins from harsh environmental conditions. Consequently, the PCGS Guarantee does not apply to coins which have been environmentally damaged. For example, if your coins are damaged in a flood or fire, the PCGS Guarantee would not apply to those coins. This also applies to copper coins stored in environmentally risky locations (high humidity, see next paragraph.)
Coins exhibiting environmental deterioration. The PCGS Guarantee does not apply to coins exhibiting environmental deterioration subsequent to PCGS grading and encapsulation. This deterioration may include, but is not limited to, spotting, hazing, PVC contamination, changes in color, and corrosion.
IMPORTANT: Because the color and surfaces of copper coins can change due to environmental factors, including weather and improper storage, PCGS does not guarantee against changes in the color of copper coins, or against copper spotting subsequent to grading and encapsulation by PCGS._
@BillJones
i agree with all that you have said, but SD boxes, especially the 'large' ones [which are not that large] are few and far between here.
I've also noticed that they are switching from the old metal boxes to plastic boxes.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
I went to a local bank to meet a guy about some silver bars this winter and the banks vault was freezing... as soon as they opened the door it was like walking into a fridge.... I had wondered if that would affect coins if stored there.. It s my bank so now I know to look for another bank when looking for a SDB. Thanks for the info all.
Successful trades.... MichaelDixon,
Sold for $91??? Good gravy.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
A couple of PCGS MS-67 examples (no CAC) sold for $91 and $92 respectively. The $91 for the OP coin seems high in comparison - Someone must be paying for the CAC sticker, and not looking at the coin.
Here's another interesting lincoln - Sold for $51 on March 14th.
I cannot fathom the prices paid for those if they are in fact the prices paid.
I can grab a broom and dust pan and find better examples on my garage floor
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Perhaps it was NGC that bought the coin for $91.00 as testimony to quality issues with PCGS slabs. Really cheap slander?
OINK
Just buy platinum coins to avoid this.
My YouTube Channel
Something here, or in another dimension, must adversely deter the allure of platinum.
Just kidding
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Steel cents sure are inherently fragile. I've never had one turn on me in normal storage within a mylar 2x2, but one time I took some average BU P-D-S examples out of cardboard 2x2's (coins were fine at that point) and placed them into a (cheap pulp cardboard center) snaplock 3-coin holder "just for fun" as a gift to a non collecting friend. I took awhile to get around to it and, when a few weeks had passed and I went to give the gift, I was appalled at the ring of red rust around the rim of each coin! The cheap manufacturing (laden with who knows what chemicals) cardboard center was to blame, as storage conditions had remained consistent and all other coins were fine.
Let it be known how fragile the steel cents in BU shape can be!
This is one of the reasons I'm not a fan of 1943 cents, the main reason really.
Collector, occasional seller
@ChrisH821
I agree, I love the coin, I have rolls of them, but you are correct.....................they are a problematic piece of metal
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Indeed they are. But they are very pretty in Gem unc (that is, unless or until they turn.)
@originalisbest
You are correct, in good condition I really do appreciate them. Both for their beauty and more so for the US History that they represent.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
I also stored some of my slabbed coins in one of my banks in New York State becausethe hours were awesome...open Saturday AND Sunday. Problem is that the safe deposit box was on the southern wall. I noticed one hot summer day that the safe deposit box was very hot to the touch. I realized the box was a terrible location for storing red copper coins even with intercept and metal safe so I yanked them out of there before my coins got ruined and moved them to another bank also with southern exposure but also many trees shading the exterior wall. I previously knew not to store the coins on a northern wall as the temperature would change too much in the winter but never thought about the summer temperature changes.
I also noticed that gold coins were very impervious to environmental stress.
@oreville
You are very lucky to have bank storage options, none the less, I WILL check out my box location tomorrow and assess the situation, thanks for your input.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
A more high priced example of a coin that turned in the holder:
Ms Liberty apparently sneezed in the slab. The TrueView does not reflect any brownish of the area around the face of Ms. Liberty. As I recall the coin was PR66 or 67 and asking price was $3,800.00.
OINK
I figure if you store them well some day they may pay off.
Lance.
Very very nice, and fragile!
I have two rolls of '43's that I purchased in 1994... have never opened them.... Thought about it once or twice, just never actually did it..... perhaps I will...not sure what I will find, though the end coins look great.... Cheers, RickO
Very educational thread.
Thank you
Jim