Owner Comments:
With the advent of slabbed coinage in the mid 1980’s, it was thought that the fear and uncertainty in the numismatic market would be eliminated. The Third Party Graders (or TPGs, as they are known) would eliminate all fakes, counterfeits, cleaned, altered, and otherwise unacceptable coins. The grade on the slab could be trusted and taken as an absolute. At least, in retrospect, and to a large number of collectors, this is how they are viewed.
But the TPGs are anything but a panacea. They are human, and they make mistakes just like the rest of us. Just because it says 64 on the slab does not necessarily mean that it is a 64. Particular to the Franklin’s, just because the slab says FBL does not mean that the coin possesses Full Bell Lines, or a full strike. As the time has passed, savvy collectors have come to realize that standards change and are applied differently to different coins. What was graded as a 64 one day may be a 65 the next, or it may be a 63 a year from now. Thus, the collector must beware! The collector must learn to grade coins for himself, or herself as the case may be (why are there so few collectors of the fairer gender?) The collector must not rely on the slab, and must buy the coin, not the holder. This may be a cliché, but it is nevertheless still true.
Besides the grading issue, there are a couple other things to be aware of when buying slabs. Watch out for slabs which are scratched and scuffed. Sometimes, shady dealers will scuff a slab to purposefully hide a detracting mark or spot on a coin. Scuffed slabs also detract from a coin’s appearance, not allowing even a perfectly beautiful coin to be appreciated properly. For a great example of this, see my 1952 – the slab is scuffed and scratched to the point that it impedes proper viewing and photography, but the coin underneath is gorgeous.
The buyer must also be increasingly aware of counterfeit slabs in today’s market. Both PCGS and NGC are known to have Chinese counterfeit slabs, and NGC recently (fall 2008) released a new slab with upgraded anti-counterfeit measures. These include a blacklight watermark, holograms, and photography of all coins (viewable when you look it up in the census). To be fair, ANACS pioneered the photocertificate concept in the 70’s, but today’s technology allows for a much more streamlined interface.
The 1960D, like the 1960P, is moderately scarce in 64FBL. However, in 65FBL, the later date Franklins are downright rare! The 1960D is no exception to this rule. Bagmarks are extremely common on these later dates, especially the D mint coins. Water spots are also a major problem. Combine this with the fact that the mintage was large, so dies were often used long past their prime, and you begin to understand their scarcity. The strike on this issue is generally below the Denver mint standard, although they usually have good details due to the reworking of the master this year. As has been mentioned previously, the bell lines did not receive the attention they required, so even the fullest struck coins lack the bold detail of earlier coins. The 1960D also generally has average to below average luster, and is usually untoned due to the change in mint set packaging. The most common source of toning on these later dates is from the end of rolls, which produce a somewhat distinctive but one sided toning.
My 1960D is a nice 65FBL, which means of course that the coin is considerably above average for the date. The luster is smooth and satiny, with very few ticks or marks. Bagmarks are few, and the strike is well above average. Even a casual comparison between this coin and a 1959 will show the difference in the re-engraving. A couple of minor water spots are consistent with a 65 grade, although I would prefer they were not in a focal area. This coin is essentially untoned, blast white and lustrous, with the exception of a minor bit of toning on the reverse. Overall, its a very attractive presentation of the issue. I won this coin on Ebay in the fall of 2011.
Entertainment in 1960:
Disney’s “Swiss Family Robinson” tops the box office. Growing up, I always loved it when we got to rent this one. My mom read this book aloud to me when I was young, and it carries special memories.
The Hitchcock horror classic “Psycho” comes out.
The Kubrick masterpiece “Spartacus” continues the sword and sandal tradition. I am a big fan of these huge 70mm epic movies.