US Coins

Market Analysis: Earliest holders from first days of PCGS

A rare PCGS GEN 1.0 holder used in the first few days of the grading service in February 1986, holding a Proof 65 1963 Franklin half dollar brought $4,700. An 1898-O Morgan dollar in a PCGS Generation 1.1 holder realized $4,582.50.

All images courtesy of Legend Rare Coin Auctions.

Professional Coin Grading Service’s earliest slabs are called “rattlers” since they often allowed for some movement and the coins would rattle slightly.

Legend’s Regency Auction 56 presented a PCGS GEN 1.0 white label holder that was used in February 1986 to house a 1963 Franklin half dollar graded Proof 65 that normally would sell for $25 or so. Including its rare early holder, which PCGS says was only used for the first few days of its operations, it brought $4,700.

A Generation 1.1 holder that was used in mid-February 1986 for a week or so features some improvements on the GEN 1.0 holder, most notably in clearer printing from an improved dot matrix printer. It still features the two-piece “rattler” design.

This Generation 1.1 holder housed an otherwise common 1898-O Morgan silver dollar, graded Mint State 64. Together, they realized $4,852.50.

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