What's the deal with these? I've seen the multi-page ads for way overpriced Franklin proofs.
As I've mentioned before I like to buy high-end Franklin Proofs in NGC holders and then crack and submit to PCGS for often a higher grade.
So I won a "We The People" slab the other day, thinking, "Well this should certainly be just the kind of coin I am looking for to play my little crackout/submit ATS game."
I was very disappointed in the quality once I received the PF68CAM WTP coin: lots planchet irregularities and several areas on the bell with almost no frost. Certainly not the kind of coin I would be comfortable cracking out!
OK, so it's not really fair to form an opinion based on one coin, so I am curious about any other folk's opinions...
And who has access to the "WTP" slab option anyway? I very seldom submit anything to NGC but have never seen anywhere/anyway to request a WTP insert. Is Rick T the ONLY one who can submit for that option?? If so, isn't that a marketing monopoly that borders on ludicrous?
Comments
I figured the coin in the OP to be an extreme long shot for a sticker but it DID earn a CAC green. S0metimes I love being wrong haha
BTW, whoever maintains the NGC online price guide sure has a grand idea of the added value of the We The People slabs!
Their guide has a Regular NGC slab 1958 MS65FBL Franklin at $120, whereas the WTP version is listed at $800 !
Here is a pic of a WTP slab just in case anyone is wondering just what these look like:
But what I was really hoping to generate from this thread was opinions on the appropriateness of the fact that only one man in the world can "make" WTP slabs. A man that makes a great deal of money selling overpriced products to the unwary and unknowledgeable, a practice that damages the hobby...
Those are so busy I would actually pass on the coin because of it.
Anybody know if they are generally considered more accurately graded than the standard PCI stuff?
From the looks of this one I am guessing the sulphur insert toned the coins after a few years...
It's on the way to me and am eager to see it in hand.
Gradewise it looks to be 65+, maybe 66. The reverse has a solid cameo but the obverse has only a few scant cameo areas...most of the portrait and all of the lettering are brilliant/reflective.
https://www.coinweek.com/people-in-the-news/crime-and-fraud/coin-dealer-pci-hit-for-nearly-2-million-under-federal-racketeering-laws/