Thursday, April 3, 2014

Rick’s Pedigree Coins – Redfield Collection – Red Flag Warning

The following is taken from an earlier writing I did on Redfield Collection silver dollars.  I am sharing it on my blog because I have seen several Ebay sellers falsely claiming coins are from the Redfield Collection simply because they are in Paramount holders.  Paramount used the same holders for a lot of coins, not just Redfield’s, so being in a Paramount holder is not authentication that the coin is from the Redfield hoard.  Read on:   

“Most of the original authentication of the Redfield silver dollar hoard was done by Paramount with Blanchard doing a smaller volume. The Paramount silver dollars were placed in plastic holders with either black or red internal cardboard settings.  Two things to note about the Paramount holders are:  1.) the holders caused severe environmental discoloring to the coins, and 2.)  the same holders were used for mounting other coins (non-Redfield’s) which are often times incorrectly advertised as Redfield silver dollars.  True Redfield silver dollars in Paramount holders will have the “Redfield” inscription on the internal label.  Recognizing that the Paramount holders were causing damage to the silver dollars, a movement began to have PCGS and NGC remove the coins from the Paramount holders and place them in PCGS or NGC slabs.  Redfield coins in PCGS holders have the pedigree name applied to the label; however, it is not consistent and appears in several formats:  “LaVere Redfield Hoard” or “Redfield” or “Redfield Collection”.  NGC is also inconsistent in applying the pedigree name saying:  “Redfield” or “Redfield Collection” or “Redfield Hoard”. 
Use caution when purchasing Redfield silver dollars as many sellers are promoting all Paramount encased coins as Redfield.  If it does not say Redfield on the label, consider that a red flag.  Another questionable practice used by sellers is that they are having the non-Redfield coins removed from the Paramount holders and graded by NGC or PCGS and promoting them as Redfield’s.  This is being done even though neither NGC nor PCGS applied the Redfield pedigree name to the label.  The seller is trying to convince the buyers that the mere discoloring of the coin proves it is a Redfield.  Consider that a red flag.”

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