Amusing Coin World article

[reid1836]

    I just finished reading an article in Coin World magazine, about a mintstate example of a 1909 VDB Lincoln Cent  that was sent by a dealer to PCGS and came back as Proof 65 !!!!!!  In the article it reference the coin as a $100 coin in MS . But now it was a $60,000 coin!!!! 

    Well , to make a long story shorter.  The part I found so amusing was that in the article it also stated towards the end that the coin was to be put up for auction rather quickly . (I surmised) . Also that as the article stated an undisclosed portion of the procedes from the subsequent sale of said coin was to go to the individual at PCGS that graded it as a Proof and thus created the cash windfall for the dealer .  Hmmmm..........!!!!!!!!! ?

[RWB]

Authentication and "grading" must be arms-length transactions.

[TomB]

If the article is "Common" 1909 Lincoln, VDB cent is actually a Matte Proof rarity then you should make note that it is graded PR66RB and that the dealer who submitted it is sharing a portion of the proceeds with the variety attribution specialist who identified it as a matte proof and not with a grader at PCGS.  If this is the article you read then your take on it and what is written are two very different things.

[reid1836]

Perhaps you are correct Tom ! I may have misread or misinterpreted the article. I read as the variety / attribution specialist was employed by PCGS. Perhaps this not the case and I stand corrected!