1908 $5 Liberty m65 deep gouge - keep it or replace it?

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ronr133
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1908 $5 Liberty m65 deep gouge - keep it or replace it?

#1 Unread post by ronr133 »

Just received this from ITM Trading.. It's an M65, looks pretty good except for a deep gouge and marks under the eagle.
My rep did acknowledge the gouge, but said the rest of the coin seems really nice. Said it's up to me to decide as he will replace it.
Should I keep it or have it replaced?
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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#2 Unread post by silverbul »

nobody can answer that question for you, the real question is do you want to live with it or not.totally your call. p.s. I WOULD NOT. jmo

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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#3 Unread post by Clint W »

If he is gonna replace it then I would do that.
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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#4 Unread post by Earle42 »

Forum rules ask for a complete OBV and REV picture. It would have really helped in this case. Is the slab labeled as a straight MS65 or details?
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#5 Unread post by ronr133 »

Sorry,

Here are full front/back and case.

PCGS M65

Here are front/back fulls

Thank You, I am new to rare coins..

Ron
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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#6 Unread post by ronr133 »

Decided to have it swapped out..

Thanks for your input..

Ron

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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#7 Unread post by Earle42 »

I am trying to be objective. Honest.

I do not want to automatically pull out my typical critical attitude that researching these companies has left me no other option than to adopt.

So would someone please educate me as to how something this badly damaged was straight graded?
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

How much squash would a sasquatch squash if a sasquatch would squash squash?

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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#8 Unread post by Paul »

Earle42 wrote: Wed Oct 27, 2021 4:02 pm I am trying to be objective. Honest.

I do not want to automatically pull out my typical critical attitude that researching these companies has left me no other option than to adopt.

So would someone please educate me as to how something this badly damaged was straight graded?
How long have you been doing this?
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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#9 Unread post by Earle42 »

OK...I was trying to avoid reality. I saw a few newbies on the forum today who were recent new PCGS members and/or sending in their first submissions to PCGS and hoping they didn't think (which seems to be typical of people who have not done homework about slabbing) I am crazy for not drinking slabbing the Kool-Aid.

I just thought I should show some positive attitude over the companies for a change.

*sigh*

OK enough fantasy land.

This coin is simply another of the many "you don't get what you pay for" events.😡
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

How much squash would a sasquatch squash if a sasquatch would squash squash?

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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#10 Unread post by Paul »

This is where "BUY THE COIN, NOT THE SLAB" comes from
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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#11 Unread post by ronr133 »

Thanks for your opinions, I'm older and do value opinions good and bad. In other words, I no longer "disregard" what someone thinks, I weigh it in with other opinions.

I will continue to keep an eye on the "coin" itself, regardless of what the rating companies say.

I've been doing this rare coin thing for a whole 3 weeks!! Mostly as a speculative hedge. I realize I know "NOTHING".. I ask a lot of questions, figure I am paying a premium for the coins from ITM Trading, but so far I am happy with how they have entertained all me questions, my apprehensions, and my delays in pulling the trigger to buy. Special thanks to Ben at ITM for holding my hand through this whole process. Matt over at Oxford Gold (formally from Lear Capital) is also a great rep that I have sent several people to also. Both very patient and I feel put my needs first, over sales.

Warm Regards,
Ron

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Re: 1908 $5 Liberty m65 deep gouge - keep it or replace it?

#12 Unread post by Earle42 »

Since you have only been at this for three weeks, here is something that may help you. The mistaken mass mindset about grading companies has cost a lot of people a lot of their hard earned money.

Give a man a fish, feed him for a day. Teach a man to fish, feed him for life. Here is some beginners fishing tackle. Its worth your time to read.

Following is info concerning the actual nature of grading companies that can help people make better educated decisions.😊

Thinking of Slabbing? Make sure you understand the Facts...or You Could Lose Money.


1. The grading companies are not a way that the majority of people, even those with a great deal of experience who know what they are doing, are going to be able to use in order to make huge personal profits. Many people start using grading companies thinking they will find a way to finance their hobby, but they learn a hard lesson quickly.

2. Watch some of Daniel's videos where he gets pieces back form the grading companies. Note even people who live, eat, breath, and deal coins for a living (like Daniel) can accurately predict what grade the companies will give. And...the "fault" (not really a fault) is in a widespread mistaken perception people get from being exposed to all the slabs being sold nowadays.

Coin grading companies are a business out to make a profit - this is why they exist. They use a system where (allegedly, but in reality its normally two) three graders look at each coin and give an opinion. The company videos showing the process make you believe this is a relaxed paced process of studying each coin. In fact one PCGS video shows a number of guys sitting around a table discussing what they think a specific coin should be graded as (on youtube somewhere - sorry no link). Uh uh.

If you take a PCGS graded coin slabbed as MS64, break it out, and resubmit it to PCGS, you are never guaranteed the same grade again. The slabbed coin might come back MS62 (bad day for graders), 63, 64, 65, 66 (great day for you!). This is b/c the process is all subjective: No scientific/verifiable standards or methods are used. Personally having talked with former graders (granted - its been awhile), the process is very rushed since they told me graders are paid by how many coins they can get through in a day.

But..this is all hearsay without proof. So...
Grading the Coin Graders

Here is another good read from someone there at the start of the grading companies:
Hobby negative impacts from slabbing companies

3. People also seem to think grading companies will examine a coin to see if they can find an error and then slab it as such. But again, they only ONLY GRADE coins. The companies will NOT try to find ID an error for you. You must first ID the error yourself, check to see if the company you want to use recognizes that specific error, PAY them to verify the error on the label, and then you may or may not actually get what you pay for! The companies have a bad reputation for attributing errors correctly.

Link to and read (download if you want it) the pdf link in my signature as an eye opening example.

The verifiable data presented shows trusting people have spent thousands of dollars on many slabbed coins that are not what the companies claims/slabbed the coins to be.

You don't have to throw in the towel over these companies...but education about the reality of them will put you on the right pathway to dealing with them in a legit way without losing money in the process.

And…if you just like to collect slabbed coins for what they are, which makes losing/making money from slabs irrelevant, then of course enjoy them!" 😊
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

How much squash would a sasquatch squash if a sasquatch would squash squash?

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