2003 PCGS MS70 LINCOLN

compromonedas · March 10, 2008 11:31AM

Got my coin from PCGS today, I send it for a spot review several months ago, guess what...

DickyBetz · March 10, 2008 11:38AM

harvey85422458 · March 10, 2008 11:39AM

They Body Bagged it

Hmann · March 10, 2008 11:40AM

You still haven't heard anything from them????

SilverEagles92 · March 10, 2008 11:40AM

There is not longer a 2003 MS70 cent?

commoncents05 · March 10, 2008 11:42AM

The pop report shows no 2003 MS70RD Cent.....

-Paul

tradedollarnut · March 10, 2008 11:42AM

gesundheit?

SilverEagles92 · March 10, 2008 11:48AM

<< The pop report shows no 2003 MS70RD Cent.....

-Paul >>

In that case, I see this thread going 100+

commoncents05 · March 10, 2008 11:49AM

<< In that case, I see this thread going 100+ >>

Easily....

-Paul

ahooka454 · March 10, 2008 11:50AM

They gave it a 72, with a sticker?

compromonedas · March 10, 2008 11:51AM

<< There is not longer a 2003 MS70 cent? >>

more information will follow

Keith

Griv · March 10, 2008 11:55AM

What??? That penny was the most awesome I had ever seen. What happened??? Toning? Milk spots? Oh my God!!!! Tell us it isn't true. Lie to us if you have too.

zeus135 · March 10, 2008 11:55AM

Wow, I can't wait to hear "the rest of the story".

TomB · March 10, 2008 11:59AM

I realize you wrote "spot review", but could it now be classified as an SMS?

Aegis3 · March 10, 2008 11:59AM

<< Wow, I can't wait to hear "the rest of the story". >>

Here you go:

It's a Zincoln. What else was going to happen?

[edited: sentence removed]

Griv · March 10, 2008 12:02PM

<< 

<< Wow, I can't wait to hear "the rest of the story". >>

Here you go:

It's a Zincoln. What else was going to happen?

[edited: sentence removed] >>

But it's only been a month! Tell me it ain't so.

SilverEagles92 · March 10, 2008 12:09PM

Uh oh, just used Cert Verification and found this...

Downgraded to a 69!

ahooka454 · March 10, 2008 12:12PM

WOW! Whats something like that do to price?

eCoinquest · March 10, 2008 12:13PM

WOW, does that mean PCGS is going to send you a check for 15K or something??!!

TAClough · March 10, 2008 12:14PM

That had to be expensive - for some one

Hmann · March 10, 2008 12:15PM

I am just curious as to why you sent the coin in for a spot review????

SilverEagles92 · March 10, 2008 12:16PM

<< I am just curious as to why you sent the coin in for a spot review???? >>

Because it had spots?

compromonedas · March 10, 2008 12:17PM

The coin developed a carbon spot in the reverse, PCGS return all the money I paid, botton line is that PCGS guarantee is the best in the market. I still have the coin, the obverse still in perfect condition. Is not the first time that i have to use the PCGS guarantee and every time I receive a fair value for the coin. That is why PCGS is the best at this time
Keith

Hmann · March 10, 2008 12:18PM

Lol that makes total sense, but with the guarantee PCGS has I think I woulda held on to a pop 1 coin and let the value go up some before sending it in.... Guess that would be rolling the dice a bit much... Another coin could come along 70 and drop the value....

ss350camaro · March 10, 2008 12:25PM

<< Lol that makes total sense, but with the guarantee PCGS has I think I woulda held on to a pop 1 coin and let the value go up some before sending it in.... Guess that would be rolling the dice a bit much... Another coin could come along 70 and drop the value.... >>

smokincoin · March 10, 2008 12:25PM

MrSpud's Curse Bottom of pg1.

Swampboy · March 10, 2008 12:33PM

<< MrSpud's Curse Bottom of pg1.

>>

On another note, thanks for the update Keith. A fascinating story to follow this last year and a half.

ChrisRx · March 10, 2008 12:38PM

Thats why collecting MS70 modern coinage is not worth it.... "spots"

relicsncoins · March 10, 2008 1:01PM

After shelling out that kind of money.........I,m guessing we won't be seeing another 70 anytime soon.

JJ

messydesk · March 10, 2008 1:06PM

Ruh-roh.

Doogy · March 10, 2008 1:15PM

<< The coin developed a carbon spot in the reverse, PCGS return all the money I paid, botton line is that PCGS guarantee is the best in the market. I still have the coin, the obverse still in perfect condition. Is not the first time that i have to use the PCGS guarantee and every time I receive a fair value for the coin. That is why PCGS is the best at this time
Keith

>>

Glad to hear they made things right, but i'm not surprised. After they bragged about this MS70 cent on their website for weeks, and if they turned around and hosed you on the pay out, the bad press would follow them for a long time. It was a marketing move to pay you that amount, as i'm sure they didn't want to but had to save face. Anyway, sorry to hear the coin went bad, and i'm glad you were fully compensated

wondercoin · March 10, 2008 1:17PM

$20 grading fee in and $15,000 out. Good job PCGS doing the right thing as usual.

Wondercoin

dbldie55 · March 10, 2008 1:21PM

PCGS should have let all 3 that were initially graded 70 go out. Been much easier on the wallet.

segoja · March 10, 2008 1:22PM

Kudo's to PCGS.

Across the street wouldn't do that.

This benefits every coin in a PCGS holder and keeps the value up.

Now for more MS70 Lincolns....I doubt it!

dbldie55 · March 10, 2008 1:24PM

PCGS has graded a bunch of mint set MS70s

The 63 still cost them more, and that was well before these 3 2003's were graded.

Doogy · March 10, 2008 1:26PM

<< Kudo's to PCGS.

Across the street wouldn't do that.

This benefits every coin in a PCGS holder and keeps the value up.

Now for more MS70 Lincolns....I doubt it! >>

FYI, NGC has and does do this sort of thing too. There is a reason they are both at the top of the heap with grading companies; both have paid big bucks to buy back coins
that went bad, had problems or other things.

tmcsr69 · March 10, 2008 1:32PM

What's the chances that PCGS will be swamped with 2003-S Lincolns for grading? Someone trying to get the one and only 70.

segoja · March 10, 2008 1:36PM

FYI, NGC has and does do this sort of thing too. There is a reason they are both at the top of the heap with grading companies; both have paid big bucks to buy back coins
that went bad, had problems or other things

Not true for copper....try it. I've tried it and they say no dice!!!!

They do buy back other coins, and I've had that happen. My reference was on copper, as this thread was about copper.

TomB · March 10, 2008 1:39PM

NGC has a ten-year guarantee on copper, so it would have held in this instance.

segoja · March 10, 2008 1:41PM

Why did they turn me down on a coin that was graded within several years?

Maybe I jsut don't count as an authorized NGC dealer. David Lange turned me down.

Never ever had that issue with PCGS.

Doogy · March 10, 2008 1:42PM

<< NGC has a ten-year guarantee on copper, so it would have held in this instance. >>

True. if they would have graded this coin, and then made a big marketing stink about it on their website, i'll be willing to bet my life they would have done the exact same thing for the exact same money.

wondercoin · March 10, 2008 1:43PM

I have seen this reference to 3 coins being graded MS70RD many times now.

Of course, all that is referring to is the fact that 3 coins were selected as 70 candidates from the large bulk lot before the finalizer knocked out 2 of the coins - presumably on their merit as only being MS69RD quality.

So, any way you slice it - there was always only -1- business strike MS70RD graded by PCGS and now, once again, there are -0- coins.

I liked the coin as an MS70RD and it is unfortunate that the spot developed. Of course, the question is how exactly did the spot develop? We may never know for sure, but, a very special coin is now no longer. Wondercoin

Griv · March 10, 2008 1:45PM

That is plain sad! Nothing else to say. I was already to find #2 but now there is no #1. Why look?

Doogy · March 10, 2008 1:45PM

<< Why did they turn me down on a coin that was graded within several years?

Maybe I jsut don't count as an authorized NGC dealer. David Lange turned me down.

Never ever had that issue with PCGS. >>

try submitting milk spotted ASEs to PCGS, getting them back within 6 months of review, and then getting fair market value for them. doesn't happen very often. The services pick and choose about who they want to pay out to and why. I think that is obvious. In situations where there is a lot of publicity surrounding it, you can count on them dishing out the dough. Both PCGS and NGC have multi-million $ coins in their holders, they aren't going to start hosing the owners of highly publicized coins anytime soon. Everyone else? thats a crapshoot

TomB · March 10, 2008 1:47PM

NGC started to guarantee their copper on April 1, 2000 and any pieces graded before that time are not covered.

wondercoin · March 10, 2008 1:49PM

Tom; Is there any easy way for a collector to determine the copper coin was graded after 4/1 /00 - did holders change on that date?

Wondercoin

TomB · March 10, 2008 2:01PM

Howdy Mitch. I really don't know if there is an easy way to determine that cutoff date. The April 1, 2000 date is listed on the NGC site as the date where the guarantee takes effect, but they do not list any attribute of the slab to help determine the date of certification.

Connecticoin · March 10, 2008 2:16PM

<< I have seen this reference to 3 coins being graded MS70RD many times now.

Of course, all that is referring to is the fact that 3 coins were selected as 70 candidates from the large bulk lot before the finalizer knocked out 2 of the coins - presumably on their merit as only being MS69RD quality.

. >>

How did this become public knowledge? Was it part of the PCGS press release regarding the MS70 Lincoln? (I don't recall this)

wondercoin · March 10, 2008 3:34PM

I believe dbldie55 mentioned he heard it from someone on the inside at PCGS (please correct if I am wrong on this). Indeed, even the original submittor of the coins that yielded the MS70RD piece was not aware of this.

Wondercoin

Type2 · March 10, 2008 4:07PM

If your not 1st your last that is what Ricky bobby say's but happy you got your $$$$ back.

SpaceMonkey · March 10, 2008 4:12PM

wow

-sm

2003 PCGS MS70 LINCOLN

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