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What You Need to Know posts (WYNK posts)

Started by Architecht,

60 posts in this topic

CHABSENTIA

CHABSENTIA

Posted
Posted

What information? If you are looking to verify the certification number and are a paid member then when you log on you will see a tool bar named "grading and submissions". You click on that and you will see "certifications" and you click on that and put in your number.

 

If you are not a paid up member then you can call NGC at their sales office and they will tell you. I believe the E mail address is sales@ngc.com but am not sure.

 

 

Anything else and you will have to ask the specific question here.

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harley2duc-migration

harley2duc-migration

Posted
Posted

I have a 2006 NGC First Strike $1 Silver Eagle Gem Uncirculated coin and was trying to look up how many were listed in the census.

The census for 2006 First Strike only shows MS-68. thru 70.

Where would a Gem Uncirculated coin come in?

Any idea what value this coin has?

I appreciate the message, and as I said I'm new at this chat board stuff.

Thanks for any and all help.

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Oldtrader3

Oldtrader3

Posted
Posted

Gem uncirculated normally means MS65/66. It must be MS68 or above because there is no lower graded population if it is slabbed. Sometimes people are pretty loose and imprecise with descriptions. I would ask for the grade and if it is certified and by whom.

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greatsmag

greatsmag

Posted
Posted

I hope I have placed theis in an appropriate section, I'm very new to coin collecting, recently inheriting coins from a family member who had inherited his Fathers collection. None of the coins have been "slabbed", as I believe it is called. I have tried to give myself a crash course in collecting, even signing up for the NGC membership where you get 5 gradings. But now the more I read, the more concerned I get. It appears to me from my reading, that unless a coin in MS-60 or above, NGC will likely send it back not graded, but charge for the grading. It appears to me they want you to spend more money by sending to NCS to have it "cleaned" and then pay again for them to grade it. I'm fairly sure none of the collection I inherited will be Mint State coins, so have I wasted my money even signing up? If NGC sends coins back "BB" for having a scratch across it and say it is wheel marks, which I don't even know what that is, I figure my coins don't have a prayer. Do the third party graders not grade coins if they are less than mint state? I'm truly confused by this, and hope someone can give me some guidance.

 

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MunkyMan95

MunkyMan95

Posted
Posted

No, of course not. NGC will now encapsulate nearly any coin you send them, regardless of problems (cleaned, damaged, scratched, etc) as long as they can determine that the coin is genuine.

 

They will only grade and certify coins that are problem-free, but they do that at any grade from Poor-1 to Mint State-70.

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cpm9ball

cpm9ball

Posted
Posted
No, of course not. NGC will now encapsulate nearly any coin you send them, regardless of problems (cleaned, damaged, scratched, etc) as long as they can determine that the coin is genuine.

 

They will only grade and certify coins that are problem-free, but they do that at any grade from Poor-1 to Mint State-70.

 

In addition to what Chad stated, you must keep in mind that not every coin is worth having graded. There would be no point submitting a coin whose value is $20, $30, $40, etc. when the cost of your submission would be $25-$35 including shipping and insurance. Some of the members, here, don't believe in grading anything worth less than $100 while others use a higher value.

 

Welcome to the neighborhood!

 

Chris

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greatsmag

greatsmag

Posted
Posted

Thanks for helping out. I do understand that I need to have some idea what the coin is worth before sending it off. It makes perfect sense not to send a coin for grading that is worth less than the cost of grading. My concern is all the posts I read about people sending coins off for grading and getting them back not graded. One post I read inparticular the guy states he received his coin back because of what he describes as 'Wheel Marks'? If that is simply some type of scratch on the surface of the coin, why would the coin not be graded in a lower state? Why would they send it back as not graded? I do truly appreciate the help & advice.

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cpm9ball

cpm9ball

Posted
Posted
Thanks for helping out. I do understand that I need to have some idea what the coin is worth before sending it off. It makes perfect sense not to send a coin for grading that is worth less than the cost of grading. My concern is all the posts I read about people sending coins off for grading and getting them back not graded. One post I read inparticular the guy states he received his coin back because of what he describes as 'Wheel Marks'? If that is simply some type of scratch on the surface of the coin, why would the coin not be graded in a lower state? Why would they send it back as not graded? I do truly appreciate the help & advice.

 

Until only reecently, NGC would not grade a coin that had post-Mint damage (PMD). "Wheel Marks" is one such instance of PMD. Now, however, they are responding to collectors' requests that coins be "net-graded". For more information, read this from NGC:

 

http://www.ngccoin.com/details/understanding-ngc-details-grading.aspx

 

Chris

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greatsmag

greatsmag

Posted
Posted

It is actually very interesting that you reference that article. Reading that article is what has gotten me more concerned than any of the other posts I have read. The article states."Each coin receives a grade that relates the amount of wear present due to metal loss during circulation. To view our Details Grading scale, click here." Isnt any coin in circulation going to have some amount of wear present due to metal loss? What prevents any coin out there that isnt Mint from only being details graded? As I said, reading the Understanding NGC Details Grading is what really has got more more concerned than anything else. Again, thanks in advance for the help & advice.

 

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cpm9ball

cpm9ball

Posted
Posted
It is actually very interesting that you reference that article.

Reading that article is what has gotten me more concerned than any of the other posts I have read. The article states."Each coin receives a grade that relates the amount of wear present due to metal loss during circulation.

 

What they mean is that if a coin which would have heretofore been body-bagged for whatever reason, will now be graded in accordance with the current standards while, at the same time, noting such defect. For example, if you submit an 1889CC Morgan with toning which would have previously been BB'ed for "Artificial Toning", it will now be encapsulated as, say, "1889CC XF45 Details, Artificial Toning" (or some wording like that).

 

Isnt any coin in circulation going to have some amount of wear present due to metal loss? What prevents any coin out there that isnt Mint from only being details graded?

 

You're comparing apples to oranges. Yes, problem-free coins are downgraded based on wear, but they aren't BB'ed for it. That is what the Sheldon Scale represents, an approximation of the condition based on circulation. The key is that they are problem-free and not affected by post-Mint damage or alteration.

 

As I said, reading the Understanding NGC Details Grading is what really has got more more concerned than anything else.

 

This is where it is of great importance for you to know and understand the series you are collecting. For example, it is commonly known to most veteran collectors that "adjustment marks" were commonplace on some 18th & early 19th century coinage. If a planchet weighed too much, the Mint worker would simply take a file and scrape away some of the (precious) metal to bring it within specific weight tolerances. The astute collector can differentiate between these adjustment marks and post-Mint damage. Collecting Morgans, it is generally accepted that the New Orleans Branch Mint was well-known for producing coins with a weak strike. Quite often, the details of Liberty's hair above the ear and along the forehead or the details of the eagles breast and tailfeathers may look to the novice collector like it is worn even though it isn't. You have to be able to distinguish between circulation wear and weak strike.

 

 

 

Again, thanks in advance for the help & advice.

 

Don't let things like this make you too paranoid. Believe me when I tell you that NGC has a staff of the most knowledgeable, honorable and reputable people in the business.

 

Chris

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Bugmann1974

Bugmann1974

Posted
Posted

CaptH.

 

Click where it says "My Stuff" at the top of the page. This will pull down a dropdown menu. Click "My Profile". You can change your password there. (thumbs u

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CaptHenway

CaptHenway

Posted
Posted

Got it. Thank you.

The user-unfriendly nature of this site is why I gave up the last time I crossed to this side of the street.

Will give it another try, tho.

TD

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Crohnos01

Crohnos01

Posted
Posted

I agree with keeping them seperate.... For what it's worth, I have been combing the WYNK posts as part of my attempt to educate myself to be able to interact with you folks on a more equal level... now all I need is TIME!

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physics-fan3.14

physics-fan3.14

Posted
Posted

Crohnos, I am the only one who has used the WYNK title for the past couple of years. These recent threads have not been added to the WYNK subforum. Just do a search for them, and you'll find them.

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Nutmeg Coin

Nutmeg Coin

Posted
Posted

For quite a while ANACS has been doing details grading with the hypothetical grade of the coin with the problem noted.

 

Example: http://www.greatcollections.com/Coin/29931/1855-S-Liberty-Double-Eagle-ANACS-AU-58-Details

 

This coin had been sent in to both NGC as well as PCGS where it had graded AU details. In this case it did a lot better at auction in the ANACS holder. It did not sell in the other AU details holder with a $1900 reserve. Here it sold well over $2000. It helps for collectors to know that it is in the high end problem category.

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Bradman

Bradman

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I couldn't agree more. I bought a 1892s Morgan in AU. After submitting to NGC and PCGS it came back AU cleaned twice. I knew that this coin was not a low end AU but without numerical details grading how is a potential buyer going to feel good about the pile of cash they are going to spend? I sent the coin to ANACS and VIOLA' AU 58 details. Now instead of being a 750 dollar AU details coin it is an 6000 dollar AU details coin!

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slingshot-migration

slingshot-migration

Posted
Posted

WYNTK

 

Several coin con men selling with high ratings 99%-100% who tout ANA

 

grading and PNG membership. Doesn't mean a thing. Some of these dealers

 

and I emphasize SOME are flat out con men. Anything for a quick buck. Lie,

 

cheat, & steal types. Ebay sellers jrcoins2210

1proudpapa

 

LOOK OUT FOR THESE TWO

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Nutmeg Coin

Nutmeg Coin

Posted
Posted

On the topic of subjectivity of coin grading there was this interesting thread at CU a while back, specifically on "Numisgroup's" assertion that coin grading was totally subjective and their conviction for fraud, with Mr. Rick Montgomery and Anthony Swiatek testifying for the government after having examined many of the questionable coins.

 

http://forums.collectors.com/messageview.cfm?catid=26&threadid=295472&STARTPAGE=1

 

My understanding is that as the "Numisgroup" conviction was appealed to higher courts, it may have been thrown out.

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O mint bug

O mint bug

Posted
Posted

Still a very beautiful coin. I have seen many that were cleaned in a much harsher manner. What is ashamed is it does not look like a coin that needed cleaning as is was in very few pockets.

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Kurtdog

Kurtdog

Posted
Posted
My understanding is that as the "Numisgroup" conviction was appealed to higher courts, it may have been thrown out.

Let's remember, too, these grades are market grades. ;)

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