| This 1956 Proof Franklin Half Dollar has been certified in an old holder from David Hall’s Numismatic Investment Group and graded Gem Proof Mint State 65. These sealed flips preceded PCGS and were graded in the early to mid-1980s; some collectors refer to them as generation 0.1 PCGS holders since they pre-date PCGS which started up by David Hall in 1986. In a June 2003 post on the Collectors Universe forum PCGS founder David Hall stated the following regarding these David Hall’s Numismatic Investment Group flips:
“What you have is the beginning of the PCGS idea. In 1982, DHNIG started making a market in a wide range of coins and guaranteeing to buy back any coin we sold at a price commensurate with the grade. We guarantee to always have a buy price for every coin we sold. It was quite a revolutionary idea for the time (one major dealer who is still active told me at the time that this was impossible and we would go bankrupt...what happened was that he went bankrupt!). We sealed the coins to be sure they wouldn't be switched. This idea was expanded to include sonically sealed holders and coins from other dealers’ inventory not just DHNIG, i.e. this idea was expanded into PCGS. We did well over $50,000,000 worth of coins this way. I believe the majority of them were turned into PCGS for grading by the DHNIG customers shortly after PCGS was launched. Most of the coins we sold as MS65 will grade MS65 or 66 at PCGS today. A few grade lower, a few grade higher.”
The coin is housed and protected in a hard plastic "cointain" holder which is sealed in the softer plastic flip. The flip itself is in good condition and the seal is intact. The coin itself is an excellent high grade proof example with no significant spotting or distractions. Please note that the photos show the coin through two layers of different plastic. An excellent opportunity for collectors of old holders.
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