Author Topic: Strange Coin: 1969 Gandhi 1 Re  (Read 266 times)

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Offline kansal888

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Strange Coin: 1969 Gandhi 1 Re
« on: April 28, 2019, 09:19:17 AM »
Dear Friends

Recently I came across pics of strange 1 Re coin of 1969 - Centenary of Mahatma Gandhi.

The coin has B mintmark of mumbai Mint.

Strangely it is in some sort of slab.

I understand that it was being sold during the recent exhibition in Mumbai.

Coin appears to be fake.

Regards

Sanjay Kansal
PS: Pics taken from net (not my pics)


Offline Abhay

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Re: Strange Coin: 1969 Gandhi 1 Re
« Reply #1 on: April 28, 2019, 02:30:22 PM »
Looks like a Poland Based Grading Company. Never heard about this.

EccGrading | GCN - Gliwickie Centrum Numizmatyczne

Abhay
INVESTING IN YESTERDAY

Offline Figleaf

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Re: Strange Coin: 1969 Gandhi 1 Re
« Reply #2 on: April 28, 2019, 03:48:28 PM »
See also here.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Rabi_R

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Re: Strange Coin: 1969 Gandhi 1 Re
« Reply #3 on: April 29, 2019, 01:57:24 PM »
Grading is done on the basis of condition, not authenticity. The coin may very well be fake, but the grading company has nothing to do about it.
PR68 is simply the condition of the coin and does not indicate anything about it's authenticity.

Offline kansal888

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Re: Strange Coin: 1969 Gandhi 1 Re
« Reply #4 on: April 29, 2019, 02:14:18 PM »
Grading is done on the basis of condition, not authenticity. The coin may very well be fake, but the grading company has nothing to do about it.

Dear Rabi

You are wrong. Leading grading agencies like NGC and PCGS not only merely grade the coins, but they also provide guarantees for genuineness of the coins.

If a coin graded by them turns out to be fake, then they may either give you the value of coin or give u equivalent coin

Regards
Sanjay Kansal

Offline kansal888

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Re: Strange Coin: 1969 Gandhi 1 Re
« Reply #5 on: April 29, 2019, 02:34:22 PM »
Dear Rabi,
I am posting extracts from PCGS guarantee clause which early states that PCGS provides guarantee for authenticity:

PCGS guarantees that all United States and World coins submitted to it shall be graded in accordance with the PCGS grading standards and under the procedures of PCGS. In addition;

All U.S. and World coins graded and encapsulated by PCGS are guaranteed genuine.

The grade of all U.S. and World coins graded and encapsulated by PCGS is guaranteed.

In the event the purchaser of a PCGS graded coin believes that the coin has been overgraded with respect to such standards and procedures, or is non-authentic, he may submit such coin to PCGS through the PCGS "Guarantee Resubmission" procedures and PCGS will re-examine coin to determine the coin's grade and authenticity.

If the grade determined under such "Guarantee Resubmission" procedures is lower than the grade originally assigned to the coin, or if the coin is found to be misattributed or non-authentic, PCGS shall pay the current market value for the coin in question at the originally assigned grade (in which case, PCGS shall become the owner of the coin), or at the owner of the coin's option, the difference between the current market value for the coin in question at the newly established grade and the current market value of the coin in question at the grade originally assigned (in which case, the coin at the newly established grade will be returned to the owner). PCGS will also refund the regrading fee and postage and insurance costs incurred by the coin owner in sending the coin to PCGS
« Last Edit: April 29, 2019, 02:44:34 PM by kansal888 »