Just in case anyone wanted to know what the NGC downgrade policy appears to be.

[JCM-Houston]

I still can't understand why anyone would buy so many coins that need to be sent in for a downgrade???

 

Is this a new way to make money, buy coins you think are 1-2 points overgraded (at a lower than market price) then get the TPG to pay you the difference. I mean it sounds like a business model, but I'm not sure I would quit my day job for it.

 

I've only sent one batch in, and I thought NGC was way too conservative on the toned Morgan, and right on the brilliant one. The others were circulated and all graded as expected.

[Oldtrader3]

Ronday, IMHO, you may be expressing a personal agenda to create a buying opportunity for your business, Trading Slabs. Is it that you wish to denigrate NGC to create a price break on NGC products at Trading Slabs? Just a thought.

[BULLY]

If I had a problem with NGC then I would deal with it on a personal level. If I was very unhappy with the outcome then I would just walk away and not extend my Membership so I don't understand all the venting by this particular person.

 

 

And in the case of coin grading, exactly who should the member go to?

 

PCI?

ICCS?

ANACS?

ACG?

ICG?

 

Hmmmmm

 

It's pretty much NGC or PCGS. The problem when there isn't much competition out there is that service can suffer, and the market is trapped within it.

[harvey8542]

HMMM

[just-john]

This entire post is about buying plastic not buying the coin .Why would you in the first place buy a coin that you could when looking at it see it was over graded then spend money to have it graded again

The fact that you would send in a 2007 Sacagawea for regrade tells me there more to the store or you have to much free time

[ronday]

I still can't understand why anyone would buy so many coins that need to be sent in for a downgrade???

 

Is this a new way to make money, buy coins you think are 1-2 points overgraded (at a lower than market price) then get the TPG to pay you the difference. I mean it sounds like a business model, but I'm not sure I would quit my day job for it.

 

I've only sent one batch in, and I thought NGC was way too conservative on the toned Morgan, and right on the brilliant one. The others were circulated and all graded as expected.

 

This is a joke right?

 

Here is a little story for you.

 

Near the end of 2005 I started collecting coins. At first I collected raw mercs. I wasted a bunch of money on a bunch of cleaned coins that were sold as BU. After doing some research I figured out that there were several reputable grading companies out there that would protect me from buying garbage. That seemed like a good idea to me. My first slabbed coin was a MS65 MCCS Morgan dollar that I bought for about $65. Later I priced out NGC and PCGS and saw that NGC had better pricing and more economical shipping, unless someone here knows something I don't, I have never been able to have PCGS ship several orders in one mailing to save postage fees. I also liked the registry at NGC better than the format at PCGS.

 

So... I plunked down my $199 and sent in my first submission. OUCH, a few body bags and not a coin anywhere near what I had anticipated. So, I figured the best way to learn was to buy coins that were already slabbed until I learned what to look for.

 

Not long after I got started I read a journal entry talking about trading coins. I thought it would be a great idea to have a place where people can trust each other and trade coins. So I paid for a web name, paid for a presence and put up a website. It costs me about 2 or 3 hundred dollars a year to run the site. The only compensation I get for running the site is the satisfaction that so many people who love coins enjoy having a place to hang out, share ideas and trade coins. As of the last few months the site is not even open to the public. It is a private site for members only. New members are admitted on an application basis only.

 

Well, I don't remember exactly how it came up, but one of the members of tradingslabs was unhappy with one of his PCGS pennies but did not believe that PCGS would actually make good on it. I was sending in a submission to PCGS anyway so I told him to send the coin to me and I would submit it for a downgrade under their guarantee. In order to be fair, I had a NGC coin I was not happy with so I included it with my NGC submission as well. We figured it would be a test of sorts, to see if the grading companies really did honor their guarantees. Since NGC thought it was Okay for a MS69 Jefferson to have a 1/16' cut on his forehead I was left to wait until I bought another coin that I could not return ( several ebay sellers do not accept returns on slabbed coins ) and test the guarantee again.

 

That brings me to where I am now.

 

Jgrinz! YO! Glad to see you chime in.

 

To answer your question about my posts:

 

I have been working 10 to 12 hours a day 6 days a week for the last 4 weeks. I am lucky to be able to get to the post office, check my email and double check my automated coin searches, check on my websites and visit with my wife for a few minutes before I pass out to start another day. Don't get me wrong, I am thrilled to be this busy, but it does leave me with a limited amount of time to devote to other things. That said, I spoke to NGC a few times about the nickel I had sent in for downgrade. I never received the explanation I was promised for the grade and though everyone there was pleasant and helpful, I got the feeling that this was more of an annoyance that a genuine concern.

 

I posted here rather than call for several reasons:

 

My previous experience ;

This took a lot less time and I am busy;

Complaining about this on my website is like talking behind someones back, here they can respond.

If this is just happening to me and no one else I am sure to find out quickly by posting here.

 

Which brings me to my final ( no cheers please ) paragraph.

 

Scott called me today, polite and helpful as always, and offered to make things right with this downgrade submission and the mislabeled coins. I told him that my experience has been a train wreck for which he apologized and attempted to make amends by offering more than fair compensation for the downgrade and shipping consideration for the reslabs. This is not uncommon at NGC. If you have read this thread you will find several examples of where NGC has shown a good business sense for its customer, when things went wrong. My issue is that too many things seem to be going wrong.

[BULLY]

Which brings me to my final ( no cheers please ) paragraph.

 

Scott called me today, polite and helpful as always, and offered to make things right with this downgrade submission and the mislabeled coins. I told him that my experience has been a train wreck for which he apologized and attempted to make amends by offering more than fair compensation for the downgrade and shipping consideration for the reslabs. This is not uncommon at NGC. If you have read this thread you will find several examples of where NGC has shown a good business sense for its customer, when things went wrong. My issue is that too many things seem to be going wrong.

 

 

Without getting into the ins and out of your situation, and for that matter, without getting into all the details of my situation, I heard from Scott about my own recent difficulties with NGC.

 

As you described, he is making the necessary efforts to correct the matter, which, as you say, is a good service response when things go wrong for a customer.

 

As you also say though, and this is my experience recently, too many things just seem to be going wrong. With all the quality controls that are supposed to be in place, the error rate just seems to be too high, and it gets frustrating. Whether I'm just the magnet for a larger percentage of errors or what, I don't know.

 

While I would rather not encounter problems, and be the lucky customer who doesn't get them, the important thing is that NGC does at least seem to be responsive when the problems arise.

[jtryka]

Glad to hear that NGC is making things right by you Ronday.