My favorite Wondercoin moment
kiyote
Posts: 5,588 ✭✭✭✭✭
I was looking through an old 2012 thread about a 1982 D Washington Half dollar that PCGS had just graded MS70 (The only one up until that point, and still!)
I won’t link to the thread because there was quite a bit of unnecessary bickering but to cut to the chase, Wondercoin was able to purchase the coin, a definite Holy Grail for modern commemorative collectors, and examine it closer. here’s what he had to say, and my hats off to him. What an absolute class act!
I bought the coin (a website purchase or otherwise protocol might have dictated a different way of handling the return) at a very good price and it came in today. The coin is not even close to being an MS70 in my opinion. Sure I could send it off to an auction and no doubt some plastic registry set collector might even pay $7,500 or $10,000 or even more for it and I would make a very nice quick profit. But, the coin is heading to Don Willis tomorrow so he can (likely) remove it from the pop report, place the coin in the proper holder it belongs with the submitting dealer's permission so it costs PCGS nothing in the process and I can get a refund of my purchase price.
Too bad ... I would to have loved to fill the hole in my set I have been trying to fill for decades with a truly perfect coin, but not this way.
Wondercoin
Comments
I think that thread is worth a revisit, though—some thought-provoking material to read.
https://forums.collectors.com/discussion/853661/a-ms70-1982-washington-half-was-finally-graded/p2
peacockcoins
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that is pretty funny, before making it any further than the title of this thread, i thought to myself, wouldn't it be grand if he was talking about the time wondercoin sent that coin to pcgs to get it in its' properly graded holder!!
to be fair, it may have happened more than once.
to my pleasant surprise, that is the situation you mentioned!
Mitch is a class act. I purchased my first coin from him more than 20 years ago. I always enjoy talking with him about our hobby. Most talks go for a couple hours at least. As some of you know, Mitch lives on the other side of the world now, so when we talk most time it’s around 3:00 am my time. Whenever I need advice on moderns, he is the best you can find. Lastly, Mitch was a pioneer. He and the registry created a whole new hobby, called Moderns.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
About 2012, give or take, Mitch took my wife and me out to dinner. Of course, we talked about coins. I brought with me my #3 (at the time) top Kennedy mint state Registry. Mitch offered me a more than fair price for the complete collection. I don't miss that set of coins yet; I miss lengthy talks about coins (and life) with Mitch. Coins can be replaced; people cannot.
peacockcoins
Ty for posting. Just read the old thread…class act!
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
Definitely a cool moment.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Great thread, thanks for reminding us. When it is the right thing to do, it should be done. Cheers, RickO
Class act @Wondercoin.
Wayne
Kennedys are my quest...
When I hear Mitch’s name, among the first couple of words that come to mind are meticulousness and thoroughness.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Just yesterday I asked @MFeld a question about an upcoming Heritage lot and he commented that it seemed I was having fun with the hobby. I replied that was true because I’ve learned when buying or selling to seek the advice of an expert. Following Mitch’s advice I feel ensured, so the hobby is always fun.
Funny, I went through the same thing with the same coin, just one notch lower in grade. Wish it was the MS70. https://forums.collectors.com/discussion/299604/pcgs-comes-through-on-guarantee#latest. Always had good dealings with Wondercoins.
Thank you Kiyote. I think about that 1982-D MS70 GW 50C quite often. It regraded MS68. PCGS didn’t reach out to that dealer (they ate the loss themselves), so that dealer got to keep my thousands of dollars that I paid for the coin. That dealer was the only winner in the entire fiasco and I never quite understood that.
I returned a problem 2000 $100 Platinum coin in PCGS-MS70 I bought in a Teletrade sale (Ian will remember that one). I walked away from an easy $20,000 - $25,000 profit as the coin was simply not a 70. There, PCGS got the consignor of the coin (an authorized dealer) to agree to downgrade it so PCGS did not have to pay for it. Teletrade lost a commission. I lost a huge payday. But, that was the proper result.
I tried to keep the integrity of the PCGS product wherever I could, especially in respect to the 70 grade.
Thanks for the nice comments. Pat- I would love another lunch or dinner with and your lovely wife. San Clemente or Oceanside still a good place to meet for that later next month?
Wondercoin
Of course!
I'll PM to you my current phone number.
peacockcoins