The Crack-Out Game: Should You Resubmit Fake or not 20 Dollar 1894?

Sometimes the Plastic Holder Is Holding the Coin Back

Sometimes the plastic holder is holding the coin back. I’ve seen it happen more times than I care to count — a collector cracks out a coin, pays hefty resubmission fees, and waits weeks for a verdict that was never going to come. In the world of cross-over grading — sending a coin already certified by one service (typically NGC) to another (typically PCGS) for a second opinion or potential grade upgrade — the stakes are never higher than when you’re dealing with a coin that carries serious question marks. The forum discussion surrounding an 1894 $20 Liberty Double Eagle offers a masterclass in what can go wrong when collectors blur the line between “maybe undergraded” and “probably counterfeit.” I want to walk you through everything I know about cross-over grading, crack-out risks, and how to spot undergraded coins before you commit your hard-earned money to a resubmission that could cost you dearly.

The 1894 Liberty Double Eagle: A Brief Historical Portrait

Context and Mintage Numbers

The 1894 $20 Liberty Double Eagle occupies a fascinating niche in American numismatic history. Struck at the Philadelphia Mint without a mint mark, as well as at the San Francisco Mint (S), New Orleans Mint (O), and Carson City Mint (CC), this issue represents the tail end of the classic Liberty Head design by James Longacre. The coin’s metal composition is the standard 90% gold and 10% copper — a formula that held for all U.S. gold double eagles from 1849 through 1907. With a weight of 33.43 grams and a diameter of 34mm, these are substantial, heavy coins that carry significant gold content even today.

For collectors pursuing type sets or date-specific double eagle collections, the 1894 is a cornerstone piece. Its collectibility in higher grades remains strong, and any rare variety within this date commands serious attention. But here’s the thing — in the forum discussion I’m about to break down, this coin turned out to be anything but cornerstone-quality.

Why the 1894 Date Matters

The 1894 issue isn’t particularly rare in lower grades, but higher-grade examples remain scarce enough to command serious premiums. The coin features the iconic Liberty Head obverse with the “J.B.L.” initials (for James Barton Longacre) incuse on the truncation of the neck, plus the heraldic eagle reverse with arrows and olive branch. When a coin like this appears in a grading crossover discussion, eyes pay attention. The numismatic value at stake is real — which made the forum’s ultimate conclusion all the more alarming.

Red Flags on the Coin: What the Forum Revealed

Surface and Strike Concerns

When I examine any coin destined for cross-over grading, my first question is always the same: “Is this coin genuine?” The forum discussion on the 1894 $20 laid bare a parade of concerns that any experienced grader would immediately flag.

Multiple commentators noted the surfaces didn’t look right. The details didn’t look right. The mint mark was the wrong style and positioned incorrectly — a critical error on a coin where the mint mark location and font style are among the first diagnostic features I check when authenticating. I can’t overstate how important that single detail is.

One particularly astute observer processed the obverse photo for better contrast and reported what appeared to be a die crack running from the rim to the bust tip and across the neck, along with a small die clash just below the hair, to the right of the “J.B.L.” initials. Now, die cracks and clashes can appear on genuine coins. But the combination of these features alongside other anomalies painted a deeply troubling picture. The coin also exhibited a notably weak strike — a concern that, on a genuine piece, might suggest undergraded potential, but on a suspect coin, points strongly toward fabrication.

Color and Composition: The 12-Karat Revelation

Then came the bombshell. The forum discussion ultimately revealed that the seller identified the coin as being made of 12-carat gold — a 50% gold alloy that is not standard for any U.S. gold coin. I’ve never seen a solid 12k $20 double eagle, and I wouldn’t touch it as gold. Even if the seller’s assessment were somehow accurate, additional concerns mounted: the coin appeared heavily cleaned and polished, which would explain the absence of normal contact marks that a large, heavy gold coin is prone to acquiring over a century of circulation. One commenter noted a suspicious purple area running through the reverse — something I’ve never seen on a 90% gold coin. The color was consistently described as “off” and “muted.”

Some suggested the seller’s 12k assessment might have been a guess, as few eBay sellers have access to XRF analysis equipment. But even granting the benefit of the doubt on that point, the weight of evidence pointed overwhelmingly toward a counterfeit. As one seasoned collector bluntly put it: “Totally fake, and a poor one at that.” That’s not a statement I take lightly.

NGC to PCGS Crossovers: The Process and Its Pitfalls

How Cross-Grading Works

Cross-over grading — sometimes called cross-grading or crossover submission — involves sending a coin that has already been graded and slabbed by one service to the other service for a second opinion. Collectors pursue crossovers for several reasons:

• Grade disagreement: The collector believes the coin deserves a higher grade than what was assigned.
• Market preference: Certain buyers or auction houses prefer one service’s slabs over the other.
• Population differences: A coin might appear rarer in one service’s population reports than the other’s.
• Resale potential: Some market segments favor one brand of slab over another.

The Critical First Step: Authentication Before Grading

Here is the lesson this forum thread teaches with brutal clarity: authentication must always precede crossover submission. Both NGC and PCGS perform authentication as part of their grading process, but submitting a coin you already suspect may be counterfeit is an exercise in futility — and expense. The grading fees are non-refundable. The coin will be rejected or returned as “Not Genuine,” and you’ll have wasted your money and potentially damaged the coin further through handling.

In my experience, I’ve seen collectors submit coins for crossover grading with the hope that a different set of eyes will “see” something the original service missed. But grading services aren’t in the business of upgrading coins — they’re in the business of accurately assessing what’s in front of them. If a coin fails authentication at PCGS after being originally graded by NGC, the crossover attempt was doomed from the start. I tell collectors this all the time: verify first, speculate second.

Crack-Out Risks: When Breaking the Slab Backfires

Physical Risks of the Crack-Out Process

As someone who has developed significant expertise in safely removing coins from their original holders, I can tell you the process demands care. Using a thin, flexible blade, you separate the coin from the resin or plastic slab — but the risks are real and should never be underestimated:

1. Edge damage: Even a skilled crack-out can nick the coin’s edge or rim, potentially destroying grade potential and eye appeal.
2. Surface scratches: Improper technique can scratch the coin’s fields, which is particularly damaging on gold coins where surfaces are softer and luster is precious.
3. Corner hits: The corners of the coin are especially vulnerable during the crack-out process.
4. Environmental contamination: Oils from skin, dust, or cleaning fluids can affect the coin’s surfaces during the process.

The Financial Risk Equation

Consider the math before you crack out. A typical crack-out service costs anywhere from $50 to $150 depending on the coin’s value and complexity. Add the resubmission fee to the second grading service — typically $50-$100 for most coins, more for high-value pieces — and you’ve already spent $100-$250 before you even know if the coin will grade higher. If the coin comes back with the same grade or a lower one, you’re out those fees with nothing to show. If the coin turns out to be counterfeit — as this 1894 $20 did — you’ve lost everything.

For the specific coin in the forum discussion, a genuine uncertified 1894 Liberty Double Eagle in lower grades might be worth $1,500-$3,000 depending on condition. A cracked-out counterfeit worth nothing represents a total loss. The risk-to-reward ratio was never in the collector’s favor.

Identifying Undergraded Coins vs. Counterfeits: A Practical Guide

Signs a Coin May Be Undergraded

Not every coin with concerns is a counterfeit. Sometimes a genuine coin is simply undergraded — submitted with surfaces or strike characteristics that don’t fully reflect its true mint condition. Here are the signs that a coin might genuinely benefit from cross-over grading:

• Sharp details in key areas: The coin’s focal points (Liberty’s hair, eagle’s breast feathers, lettering) are noticeably sharper than typical examples at its assigned grade.
• Minimal wear inconsistent with the grade: High points show less wear than you’d expect for the assigned grade level.
• Strong luster: Original mint luster is present and undisturbed, suggesting the coin has been overlooked or understated.
• Clean, undisturbed surfaces: No environmental damage, cleaning marks, or significant contact marks that would explain a lower grade.
• Consistent strike quality: The coin shows a full, bold strike that is better than average for the issue — boosting both its numismatic value and collectibility.

Red Flags That Indicate a Counterfeit

Conversely, these warning signs should stop you from submitting a coin for crossover grading — and may indicate you’re dealing with a fake:

• Wrong mint mark style or position: As seen in the 1894 forum coin, an incorrect mint mark is an immediate authentication failure.
• Off-color or unnatural hue: Genuine 90% gold coins have a distinctive warm yellow-gold color. Any purple, green, or gray undertones are deeply suspicious and suggest an unnatural patina or alloy.
• Wrong metal composition: If the coin is not the correct alloy (90% gold/10% copper for pre-1933 U.S. double eagles), it is not genuine.
• Weak or mushy strike across the entire coin: While a single weak area might be a die variety, a generally weak strike across the entire coin is suspicious.
• Suspiciously clean surfaces on a supposedly circulated coin: Heavy polishing or cleaning can mask counterfeiting but also raises immediate red flags about eye appeal and provenance.
• Die cracks or clashes that don’t match known varieties: While genuine die cracks exist, fabricated ones are common on fakes.
• Rounded field-device boundaries: Where fields meet devices, genuine coins typically show sharp delineation. Excessive curvature or rounding suggests a poor transfer from the die-making process — a common counterfeit tell.

Actionable Takeaways: Protecting Yourself Before Crossover Submission

Before you send any coin — certified or uncertified — for crossover grading or crack-out resubmission, follow these steps. I’ve seen too many collectors skip the basics and regret it:

1. Get an independent authentication opinion first. Before spending money on resubmission, consult with at least two reputable dealers or authentication services. If multiple experts flag concerns, listen to them. Your coin’s provenance and authenticity should never be an afterthought.
2. Examine the coin’s diagnostic features under magnification. Use at least 10x magnification to check mint mark details, die characteristics, surface texture, and edge regularity. The forum discussion showed how processing a photo for contrast can reveal details that aren’t visible in standard images.
3. Verify metal composition when possible. For gold coins, a simple specific gravity test can confirm whether the coin is the correct alloy. XRF analysis is ideal but not always accessible. If a seller claims a non-standard composition, be extremely skeptical — it undermines everything about the coin’s collectibility.
4. Compare against authenticated reference images. Use resources like PCGS CoinFacts, NGC Coin Explorer, or published VAM catalogs to compare your coin’s diagnostic markers against known genuine examples. Matching your coin’s strike, luster, and patina to a verified reference is the gold standard (pun intended).
5. Buy from reputable sources. If you’re purchasing uncertified gold coins, make sure the auction house or dealer’s terms guarantee authenticity. As one forum member noted, this has saved them in the past.
6. Consider the cost-benefit ratio. For common-date coins trading near melt value, crossover grading rarely makes financial sense. As one commenter wisely noted, “A coin collector looking for a common date Liberty double eagle would be better off buying one in a PCGS or NGC slab which are currently selling for only a little over melt value.”

The Bigger Picture: Why This Forum Thread Matters

The discussion around this 1894 $20 Liberty Double Eagle is more than just a story about a single counterfeit coin. It illustrates the fundamental tension in our hobby between hope and skepticism. Every collector has experienced the thrill of finding a coin that might be underrated, undergraded, or undervalued. That thrill is legitimate — but it must be tempered by rigorous authentication and a clear-eyed assessment of risk.

I’ll be the first to admit that the crossover grading game can be rewarding. When applied to coins you have strong reason to believe are genuine and potentially undergraded, it can unlock serious numismatic value and upgrade your collection’s eye appeal. But when a coin exhibits multiple red flags — wrong mint mark style, off-color, suspicious composition, weak strike, cleaned surfaces — the only smart crossover is the one where you don’t participate.

The forum members who rejected this coin outright were practicing good numismatic hygiene. The few who suggested bidding on it or pursuing it “as a curiosity” were, in my professional opinion, ignoring clear evidence at their own peril. I’d rather you err on the side of caution. Your collection will thank you for it.

Conclusion: The 1894 Double Eagle and the Limits of Resubmission

The 1894 $20 Liberty Double Eagle remains an important date in the history of American gold coinage. Whether collected as a type piece, a date-specific target, or a component of a complete double eagle set spanning 1849-1907, this issue carries both historical significance and numismatic appeal. The coin’s connection to the Carson City, New Orleans, San Francisco, and Philadelphia mints reflects the vast geographic reach of the American gold economy during the late 19th century, and its place in the Longacre design lineage makes it a meaningful artifact of 19th-century American artistry.

However, the specific coin discussed in the forum thread serves as a cautionary tale. It was, by all accounts, a counterfeit — an ex-jewelry piece in an incorrect alloy, heavily polished to mask its origins, and bearing a constellation of diagnostic errors that no amount of crossover grading could remedy. Its patina told one story; its provenance told another entirely.

For collectors considering the crack-out and resubmission route, the lesson is clear: authentication is the foundation upon which all other grading decisions rest. Without it, the entire structure collapses. Know your coin, verify your coin, and only then consider whether a second opinion from another grading service might serve your collection’s goals. Sometimes the plastic holder is indeed holding the coin back — but only when the coin inside is genuine. When it’s not, the holder is doing you a favor by keeping it contained.

Related Resources

You might also find these related articles helpful:

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