the pcgs "5 mil problem" a must read!!! **update 1 with picture***
joebb21
Posts: 4,759 ✭✭✭✭✭
I checked the history here on the boards and it seems nobody has written anything or knows about this so it gives me great pleasure to be the first!!!!
I recently purchased a 1954 pcgs pr65 franklin in a pcgs rattler holder.
I tried adding the cert to my registry and each time it said the cert was unavailable.
I first got in touch with the set registry for their help and then sent an email to the dealer I got the piece from.
The dealer stated that he didnt think the coin would be a fake as fake slabbing on $100 is not as common especially in this series. (I agreed)
then came the reply from pcgs!!!!
"It looks like your coin was probably part of what we refer to as the “5 Mil” problem. Basically, several years back, our system allowed cert numbers in the 5 million range to overwrite cert numbers that were already assigned the same number. To fix this, we will need you to send the coin in and we will assign a new cert number. It will be treated as a mechanical error submission. Please follow these instructions when sending it back in:"
I tried explaining that by getting re-certified it would kill the fact that it was a rattler coin, but the person I spoke to said there is nothing he can do about it.
I am awaiting a call from his supervisor
I also tried finding out what was the coin that took my place but they said its privilaged and they cant give it out.
how many other coins does this mean were affected!!!???
as of now I must find another piece with a good cert to replace it.
this stinks.
-joe
I recently purchased a 1954 pcgs pr65 franklin in a pcgs rattler holder.
I tried adding the cert to my registry and each time it said the cert was unavailable.
I first got in touch with the set registry for their help and then sent an email to the dealer I got the piece from.
The dealer stated that he didnt think the coin would be a fake as fake slabbing on $100 is not as common especially in this series. (I agreed)
then came the reply from pcgs!!!!
"It looks like your coin was probably part of what we refer to as the “5 Mil” problem. Basically, several years back, our system allowed cert numbers in the 5 million range to overwrite cert numbers that were already assigned the same number. To fix this, we will need you to send the coin in and we will assign a new cert number. It will be treated as a mechanical error submission. Please follow these instructions when sending it back in:"
I tried explaining that by getting re-certified it would kill the fact that it was a rattler coin, but the person I spoke to said there is nothing he can do about it.
I am awaiting a call from his supervisor
I also tried finding out what was the coin that took my place but they said its privilaged and they cant give it out.
how many other coins does this mean were affected!!!???
as of now I must find another piece with a good cert to replace it.
this stinks.
-joe
may the fonz be with you...always...
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<< <i>I also tried finding out what was the coin that took my place but they said its privilaged and they cant give it out. >>
What does the cert show when you put it in the verify cert number place at pcgs?
I do agree with you that the reholdering of your specific coin results in you losing some money
... not a great deal... but some.
Wondercoin
What does the cert show when you put it in the verify cert number place at pcgs?
* it says that this cert is not available. I mentioned this to them and they said the cert problem is also an internal data base problem.
"PAGING STEVE MARTIN!"
<< <i>Why are you going to find another one? Last mech error I had at pcgs the only thing I had to pay was to ship it to them. Did they change that? >>
He doesn't want to lose the old holder.
<< <i>"PAGING STEVE MARTIN!"
"PAGING STEVE MARTIN!" >>
...........the comedian?
"Inspiration exists, but it has to find you working" Pablo Picasso
-joe
<< <i>to very few collectors- some collect them thinking upgrade(thats why alot of times big money is paid). I collect it just for fun.
-joe >>
For me it's not about any potential upgrade. I like rattlers and old green holders in general because it reassures me that the coin hasn't been messed with recently and it gives me a greater reassurance that the coin will continue to look the same way in the future and will not turn in the holder. this is especially true for red copper coins i think.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
<< <i>
<< <i>"PAGING STEVE MARTIN!"
"PAGING STEVE MARTIN!" >>
...........the comedian?
The modulator.........
<< <i>Educate me. Are PCGS "rattler" coins worth more simply because they're in "rattler" holders (nevermind that the coin won't upgrade)?? >>
The simple answer is yes.
<< <i>
<< <i>Educate me. Are PCGS "rattler" coins worth more simply because they're in "rattler" holders (nevermind that the coin won't upgrade)?? >>
The simple answer is yes. >>
As they are cracked out they are becoming scarcer and scarcer. You just don't see that many at coin shows anymore. A lot of collectors like them because they were the first PCGS slabs and they are fairly crude/primitive compared to later slabs which is part of their charm. And they are just plain neat.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
K
1. You can enter it in your set.
2. You'll lose the rattler.
3. You're out shipping to them.
4. You're our return shipping from them.
5. You have an unecessary annoyance and delay.
How exactly are they going to compensate you?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
aparently Im the first one that this has happened to... I got a call from anna something or other from pcgs and said she understands my problem but my coin just doesnt exist anymore because some mistake they made over 20 years ago. NOW MY COIN IS A #1 POP COIN!!!! WOOOOOHHOOOOO
SO.....now shes working to see if she can somehow re-allow JUST my coin into the registry- making it THE ONLY COIN OF ITS KIND!!!! talk about rare pcgs slabs!!!
well- we shall see how this plays out. Im waiting to hear back from her on monday or tuesday!
THE RAREST PCGS RATTLER (ONLY ONE OF ITS KIND!!!!!)
In honor of the memory of Cpl. Michael E. Thompson
I think that slab is going to get a gold sticker!
Simply awesome looking coin!
Keep it where it is regardless of what PCGS is able to or not able to do registry-wise. It actually makes for a more interesting story in which someone would want to own on that basis ALONE!
I think you hit a triple!
Rattler
coding
looks undergraded - maybe a gold
<< <i>I guess someone forgot to make the cert number a unique primary key!! Wow...just wow.
K >>
Forgive me, but having designed far too many databases, the data associated with the primary keys can still be updated and that's what happened here
if the given information is correct. The cert number itself, may or may not be a primary key depending on how things are designed.
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Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Maybe they'll market upgrade it a couple points, will that make you happy?
Seriously, looks like it's working out for you.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
the final outcome was I sent in the coin to pcgs. They "looked it over" to make sure it was a "real" slab. and added the number in their data base.
<< <i>just because it seems another member might be part of this...
the final outcome was I sent in the coin to pcgs. They "looked it over" to make sure it was a "real" slab. and added the number in their data base. >>
Now thats Cool!
The name is LEE!
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