PCGS Error
19Lyds
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On last Weeks Great Collections Auction I saw a coin that was completely misattributed by PCGS. I notified Great Collections and the listing was taken down the next day.
On this past Monday I notified PCGS thru their 'Contact Us' link and so far, nothing has been done.
The error is a 1971-S Proof Eisenhower Dollar which was attributed as an FS-401 PegLeg. The only problem is that the FS-401 Pegleg is for a Business Strike. It even says so on the PCGS Coinfacts page yet, here we are today.
CPG Listing:
Coinfact Page:
https://www.pcgs.com/coinfacts/coin/1971-s-1-fs-401-peg-leg/148405
The Pegleg for the 1971-S 40% Silver clad Proof Coin was relatively common with about 1 out of every 7 or so coins being a pegleg. The price guide value for a PR-67 1971-S Proof coin is listed at $28.
The 1971-S Silver Pegleg Business Strike on the other hand is much scarcer with less than 500 being graded by PCGS. In MS-67 the scarcity gets rarer in that only 2 have made that grade. Price Guide value is listed at $650 which is significantly more than the $28 for the Proof coin.
I'm hoping that PCGS will see this thread and at the very minimum put cert # 53067244 on hold. In reality it should be removed from any database since it simply is NOT what the label says it is.
The name is LEE!
Comments
[EDIT] Sorry, wrong reply.
Will PCGS change take down the information if the current owner of the coin isn't involved?
I would think PCGS would not handle this unless the current owner made a decision. That way the coin can be sent in for mechanical error and paid out a guarantee if needed. Nevertheless, there are so many of these label/attribution errors that it isn't worth PCGS's time to track down every one.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
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Patience, grasshopper
All comments reflect the opinion of the author, even when irrefutably accurate.
What? Are you trying to be a 'Master' of sorts?
The name is LEE!
He does enjoy a good debate.
the cert page also says "MS67" - MS. so I guess they got it wrong from the get go
They'll eventually sort it out. I'm not sure why people think that their priority is automatically PCGS's priority. If GC sent them the coin back, what's the hurry to kill the cert until they get it. It's not going to get sold in the meantime.
First world problems.
All comments reflect the opinion of the author, even when irrefutably accurate.
Not a debate. I just think a little patience is in order.
All comments reflect the opinion of the author, even when irrefutably accurate.
Whoosh. . .
PCGS isn't going to invalidate a cert from a report based on a Trueview. I would expect that only only the owner of the coin can deal with this. After all, that's what the PCGS guarantee is for. PCGS or any other company just could not reasonably be in the business of invalidating certs based on tips from non-owners. That would cause more problems than it would solve.
That's not completely true if there's an obvious error. Or if the cert has been used for fake holders. But I do think we should expect then to work with owners. And I do think it takes some time.
All comments reflect the opinion of the author, even when irrefutably accurate.
That's not true at all; I've been on both sides of it.
PCGS has cancelled the certs on quite a few coins that were mis-attributed and up for sale at auction houses after I contacted the auction houses regarding the issue. The auction houses then contacted PCGS and that was it.
I also had a ~$6k Japanese coin that PCGS misattributed (not mechanical error) as a ~$50k variety. A friend emailed an expert on my behalf to ask about the variety (maybe I was wrong). The expert emailed PCGS and the cert was cancelled without even notifying me within an hour. Eventually after haranguing PCGS for ~6 weeks I got a grading credit for the hassle.
chopmarkedtradedollars.com
For PCGS to have to deal with all these issues must be like enduring oriental water torture. I hope they're able to relax and unwind on their weekends.
The owner of the coin has absolutely nothing to do with PCGS's reputation. How many times must an error be allowed to stand before it gets corrected?
"....invalidating certs based on tips...."
It's not a tip. It's a fact and it's not based upon a Trueview. It's based upon a search of the certification number and the actual slab. PCGS loves to parade these high grade coins on PCGS Coinfacts and this one is at the top of the Page for an 1971-S FS-401 Eisenhower Dollar simply because a 67 Grade is a very high grade for the 1971-S Business. Strike Coin. The coin is also in a 'Gold Shield' slab.
These are PCGS photo's. They are not doctored or altered photo's they ar documented PCGS Photographs.
These Images were taken from the Auction Site before the listing was cancelled.
The name is LEE!
"work with the owner"?
This is under the presumption that the individual that had the coin graded is the actual owner and the the slab had not been bought and sold many times over on eBay or some other venue which OCGS does not track.
The name is LEE!