April 2008
COUNTERFEIT PCGS AND NGC SLABS
IDENTIFIED
In recent weeks counterfeit coins encapsulated in plastic "slabs"
resembling those of issued by two of the leading independent coin
grading services have been reported.
An
announcement posted on
the Professional Coin Grading Service (PCGS) web site dated March 27,
2008 reads in part "counterfeit
coins in counterfeit PCGS slabs have begun to appear on eBay, the
online auction site. All of the counterfeit coins/holders seen so far
are coming out of China... The
coins themselves range from poor-quality counterfeits to well-made
fakes" of Chinese, U.S. and Mexican coins. "The counterfeit PCGS
holders are well-executed, but with minor
differences from a genuine holder... The
on-line PCGS Certificate Verification is a method for confirming that a
particular certificate number matches the information in the PCGS
database, but the counterfeiters are aware of this detection method and
are now using valid certificate numbers." PCGS states that it is
able to distinguish its holders from the fakes, but it has not yet
released diagnostic info. The company advises buyers to deal only
with reputable sellers who guarantee the coins they sell and to avoid
purchasing coins from sellers in China, among other precautions.
Numismatic Guaranty Corporation (NGC) announced
in January that counterfeit coins in plastic holders mimicking its
slabs had been discovered. These fake slabs are more crude with
multiple misspellings on the label, e.g. the words KNOWLEDGE, INTEGRITY
and NUMISMATISTS are incorrectly spelled as RNOWLEDGE, INTEGIGY AND
NUNISMATISTS on its hologram, as well as other differences from genuine
NGC holders.
MINT TO REPLICATE ULTRA-HIGH RELIEF
SAINT-GAUDENS DOUBLE EAGLE
At a March meeting of the Citizens Coinage Advisory Committee, U.S.
Mint Director Ed Moy announced plans for the Mint to issue a 24 karat
gold coin during 2009 based on the ultra-high relief Saint-Gaudens
double eagle struck in 1907. Considered by many to be America's most
beautiful coin, the ultra-high relief $20 coin proved impractical for
mass production. Only a few examples survive today. Thousands more were
struck in 1907 after the relief was significantly reduced, and
production of the lower relief version continued until 1933.
In the early 20th century, President Theodore Roosevelt selected
renowned sculptor Augustus Saint-Gaudens to re-design U.S. coins.
Saint-Gaudens died after creating new designs for just two coins (the
other being a $10 gold coin), and the remaining denominations were
eventually updated by others.
The 2009 replica will be a 27 mm diameter collector coin with its date
in Roman numerals (like the original) and will be offered for sale to
the public at a price to be determined. The motto "In God We Trust"
will appear on the coin, as required by current U.S. law. The
motto was not included on 1907 Saint-Gaudens double eagles but was
added beginning in 1908.
CURRENT SPECIAL
While our existing inventory lasts, 2001 American
Buffalo Coin & Currency sets in their original Mint-issue packaging
are on sale for only $179 each (this set is listed in the 2008 Red Book
for $300). This magnificent set includes an uncirculated 2001-D
American Buffalo silver
dollar, a uniface
reproduction of the series of 1899 Indian Chief $5 silver certificate,
a Chief Red Cloud 10¢ stamp and a Bison 21¢ stamp. Only a few
sets are available, and this offer is limited to one set per
customer. More info is
available on our
Current
Special page.
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Telesphere Numismatics
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