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 Replies: 32 / Views: 1,948 |
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Valued Member
Canada
196 Posts |
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Bedrock of the Community
 United States
94367 Posts |
Some sort of crazy bulk submission.
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Valued Member
 Canada
196 Posts |
I was thinking the same I didn't know they did it like that I think they just verified the mint mark as well the s was re-punched and they wrote it on the label. I thought it was a typo but it is doubled also would they note if it was cleaned I have one of those as well
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Valued Member
United States
229 Posts |
Looks like Rick trying to make more profits for the pawn shop, or himself. Basically anything in the store before the old man died, could be considered part of his hoard.
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Valued Member
Canada
196 Posts |
I was wondering that as well why does it have that written on there. Old man's hoard? Is it the name of the pawn shop in the picture or I thought it was some kind of generic label
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Valued Member
Canada
196 Posts |
Also a pic of the mint mark when I look into it the rpm on the 1881 s it seems common just not as bloated   |
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Pillar of the Community
United States
1646 Posts |
Heres the story: https://www.facebook.com/gspawnshop...58639637683/Hmm, these designations are generally reserved for authorized dealers who are doing bulk, usually big bulk submissions. You see just the info about the coin what it is but not any grade. In this case seems to have brilliant uncirculated or genuine only with the custom label that is the potential draw for this one being from his 30 year hoard. The 1881-S Morgan dollar is easily one of the most commonly encountered mint state Morgans today. By some estimations, perhaps a third of the original 12.7 million coin mintage exists today in mint state. If a collector is looking for a very high-grade Morgan for their collection, the most readily available will certainly be an 1881-S. |
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Valued Member
United States
229 Posts |
It's from the TV show Pawn Stars on the History channel. I think the name of the shop is Gold and Silver. It is in Las Vegas.
Edit, name of pawn shop
Edited by Nycstlrr
05/21/2023 12:29 am
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Moderator
United States
64158 Posts |
I thought that 'Genuine' was akin to 'details' which is why is has no grade. Am I wrong on that?
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Pillar of the Community
United States
1646 Posts |
Quote:
I thought that 'Genuine' was akin to 'details' which is why is has no grade. Am I wrong on that? Hi John, heres what I found. NGC answered this question in forum: Genuine is an adjectival grade that is assigned to an item to describe it as real or authentic. For some bulk submissions, NGC will allow the submitter to request that only an adjectival grade like this be printed on the NGC certification label. https://boards.ngccoin.com/topic/42...ne-indicate/ Originally, the major grading services wouldn't encapsulate genuine coins that couldn't be numerically graded due to any impairment (cleaning, scratches, damage, corrosion, etc.). All such pieces were returned ungraded in flips, which became derisively known as "body bags". This policy made it impossible to obtain third party authentication or grading for a large percentage of older coins, including pieces that are quite valuable notwithstanding their impairments. As the poster recalls, ANACS was the first service to offer "Details" adjectival grading, and PCGS began putting impaired pieces in holders marked "Genuine" with no grade. I'm not sure how the situation evolved at NGC. Ultimately, both NGC and PCGS offered "Details" adjectival grading for "problem" coins. It's the designation assigned when cleaning, alteration or damage prevents the coin from being judged "original." More information on adjectival grades can be found here https://www.ngccoin.com/coin-gradin...ival-grades/
Edited by datadragon
05/20/2023 11:09 pm
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Pillar of the Community
United States
4233 Posts |
I agree with @Coinfrog, it's just some sort of bulk submission. They aren't saying it's a Details coin, all they were paid to do was authenticate and slab with the Pawn Stars theme, not grade them. That's my take on it. Didn't they, or GSA, do something similar with the GSA horde? Either uncirculated or circulated, and that's all the effort they put into it. Yes, it's confusing (and kind of dumb if you ask me).
@tjames88 The label isn't saying the S is re-punched. The first S is the mint mark. The second one in "S$1" means "silver dollar." They use this S$1 designation in years when there were both gold and silver dollar coins in the US.
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Pillar of the Community
United States
2169 Posts |
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
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Valued Member
Canada
196 Posts |
Great thanks that clears up a lot and the info on the label is interesting. 30 years of collecting coins you would have a lot of bulk I just started and I'm having a hard time sticking to a particular set. Thanks again
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Pillar of the Community
United States
2169 Posts |
I used to watch Pawn Stars all the time.
Acquiring a coin slabbed from the old mans collection would be neat!
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
Edited by NumismaticsFTW
05/21/2023 01:17 am
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Pillar of the Community
Russian Federation
1519 Posts |
I think it's more like a souvenir from the store. The coin is undoubtedly genuine, but its price from the original owner (the Gold & Silver store) was clearly overstated in order to get more profit.
I've always loved this show. Interesting plots and interesting stories. Expands your horizons a little.
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Bedrock of the Community
United States
12041 Posts |
I love Pawn Stars and would love to visit their shop next time I'm in Vegas, if I can ever afford to get back there. It's on my DVR every week. I especially love the episodes where they get to go actually shoot off rare and priceless firearms in the middle of the desert!
I wouldn't mind having one of these coins in my collection either, but I wouldn't pay a big premium to get it just because of the label.
Of course, one need only look at the Binion Hoard to see what effect a label has on the price of a coin...
Pawn Stars is one of the very few shows on TV that actually handles coins and currency "right", see the recent episode on the Harvard bank notes for an example. They are familiar with PCGS, NGC, and PMG, as we have seen, and recognize the meaning and value of certifications. They have genuine knowledge on the coins and paper money above and beyond just precious metals value or looking things up in a guide, and to me, that makes them interesting to watch.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Replies: 32 / Views: 1,948 |
Posted 05/20/2023 9:03 pm
