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Old 02-20-2012, 06:01 PM
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SteelandSilver SteelandSilver is offline
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Default NGC Holder

If I'm bidding on a coin on dBay that is being sold by a reputable seller and it's in a NGC holder, does that pretty much assure that the coin is not a counterfeit?
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Old 02-20-2012, 06:54 PM
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SILVER PATRON SILVER PATRON is offline
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Pretty much so. And you can always go to their website (ngccoin.com) and type in the certification #, usually right under the grade.
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Old 02-20-2012, 06:58 PM
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matthew1951 matthew1951 is offline
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The short answer is "yes" -- it is genuine.

Imagine the chaos if one of the major coin grading companies allowed a counterfeit coin to be slabbed. Such news would spread over the 'Net very quickly.

This assumes, of course, that the holder was not
tampered with.

Yet another reason to "buy the coin and not the holder."
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Old 02-21-2012, 03:32 PM
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Numisgold Numisgold is offline
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There are counterfeiters who are faking holders, or splitting them open and replacing the coin with a lesser quality one. However, I would not expect such a coin would get by a reputable seller or a major US coin dealer. If PCGS or NGC allows a fake to slip by they will cover the loss.
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Old 02-22-2012, 12:25 AM
Jamesbong Jamesbong is offline
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Whomever your dealing with always make sure they accept returns, that way you have an out if your not happy for whatever reason.
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Old 02-22-2012, 01:26 AM
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Miteysquirrel Miteysquirrel is offline
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Quote:
Originally Posted by Jamesbong View Post
Whomever your dealing with always make sure they accept returns, that way you have an out if your not happy for whatever reason.
Good point. I dont buy anything online that has no return policy.
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Old 02-22-2012, 09:02 PM
Mustangmanbob Mustangmanbob is online now
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The only wholesale counterfeiting that made it to PCGS was the case of some New Orleans Morgans.. Here is the story, short version, someone counterfeited them probably 100 years ago, and they circulated, due to the low price of silver, it was better to form the silver into a "silver dollar" than to have raw silver. They made some dies off of existing coins, cranked them out, and after 100 years, the coins appeared "real". PCGS paid out on that one (story from 2005):

"However, grading and variety experts at PCGS have recently uncovered undeniable evidence that three of the so-called "Micro O" Morgan varieties, the 1896-O, 1900-O, and 1902-O, are actually contemporary counterfeits, most probably struck outside the US Mint sometime in the early 20th century. This is a significant discovery and one that will certainly have an impact on Morgan dollar variety collectors.

The discovery of the contemporary counterfeit status of the 1896-O, 1900-O, and 1902-O "Micro O" Morgan dollars came about as PCGS experts studied an unusually high number of these coins that recently were submitted to PCGS for certification. These three varieties are rare and even very low grade examples sell in the $500 range. PCGS usually examines these coins one at a time. However, PCGS recently had the opportunity to examine a larger group of these coins and do in-depth analysis of their die characteristics.

What was most suspicious about this group of micro O Morgan dollars was that three years shared a common reverse! The micro O dollars of 1896, 1900, and 1902 all used the exact reverse die. This is beyond unusual. Although it was common practice at the various United States Mints to keep reverse dies (or obverse dies if the date side was the reverse die) that were still serviceable, using a die over such an extended period is unusual - and suspect.

After examining the group of coins, it became apparent that these Morgan dollars were not struck in the New Orleans Mint in the years indicated by their dates. In fact, they were not struck in the mint at any time. These coins are among the most deceptive copies of United States coins seen. It is probable that they date to the early part of the twentieth century, but may have been struck as late as the 1940's. They have been known to numismatists since at least the mid-1960s.

Who would attempt such a feat? With the price of silver on the open market at prices much cheaper than the official price (25-50 cents for much of the first half of the twentieth century versus the official United States rate of $1.29 per ounce), the temptation to produce silver dollars with the "full" amount of silver and pocket the difference was irresistible to someone. In fact, one of the suspect coins was sent for elemental testing and it came back 94% silver and about 6% copper! It contains even more silver than a genuine United States silver dollar. However, even with extra silver and the work needed to create the dies and planchets, the profit from these coins would have been tremendous. Certainly, this was a temptation to hard to resist."
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