A mislabeled NGC Statehood Slab... is it common?

[glenashley-migration]

I just received a statehood quarter from an ebay seller. What I purchased was a 2005 S Silver Minnesota PF70 UC. What I got was a slab with the proper label BUT the coin is a 2006 Colorado (and very well could be graded a PF70). I am awaiting a response from the seller, but in the meantime I am wondering. Does this sort of thing happen often with slabbed coins (from a reputable grading company such as NGC)? The slab is obviously still sealed and there is no evidence of tampering. I am assuming that the coin is either mislabeled or there is a 2006 Colorado PF70 wandering around with a Minnesota quarter in its slab!

 

Thanks for any input or comments.

[Revenant]

I think it's fairly common.

 

[dooly]

I once got a Japanese coin sent in my UK florin holder .. boy were they embarrassed as the Jap coin was booked at $900 and my florin was only $200..

[glenashley-migration]

Ha that's pretty good Dooly. I could only hope that my Minnesota/Colorado coin is worth that much money! I am new to collecting and it just seems to me that this would look bad for the grading company. I mean if they don't pay close enough attention to the labeling how much attention is spent on grading? So I am wondering how common this occurs. Revenant says that it is fairly common. What do you think?

[BULLY]

I actually have more than one coin that NGC has mis-labeled.

 

When I wrote to NGC about such a labeling error, this was the reply that I received, in an apologetic context:

 

"Thank you for your email. I’m sorry about the error made on the coin. Please submit the coin on a submission form and mark it “Mechanical Error” and we will make the correction right away and return the coin to you ASAP."

 

Unfortunately, I've seen sellers on eBay really try to make a BIG DEAL about these "errors."

 

For instance, I saw a listing just the other day that was a pair of Silver Eagles, one was a MS70 coin, was a PF70UC coin -- but the labels were basically switched and on the wrong coins. Does such a think make the coins VALUABLE? IMHO, no.

 

I mean, it is an oddity, and to catch NGC in such an error is curious, especially with all their checks and balances. Would I pay an ENORMOUS premium for it like this guy was seeking? Not on this earth! I am talking THOUSANDS $$ PLUS as I recall, PUH-LEASE!

 

When you read NGC's Home Page about The Grading Process:

 

http://www.ngccoin.com/coingrading/grading2.asp

 

http://www.ngccoin.com/coingrading/encapsulating3.asp

 

http://www.ngccoin.com/coingrading/shipping4.asp

 

The last link above, describes the final step which is why I find such errors so surprising, however. I mean the mistake may happen by the first couple of people, but then it is reviewed AGAIN by that last person:

 

"After encapsulation, all coins are returned briefly to the Grading Department for final inspection. An experienced grader examines each encapsulated coin to make certain that its label is correct for both the grade and its accompanying descriptive information. He also inspects each coin for any flaws on its holder, such as scuffs or nicks. NGC is careful to make certain that the coins it certifies are not only accurately graded but are attractively presented, as well."

I still don't believe that it warrants outrageously inflated costs. However, maybe I am wrong. Mint errors command premiums, maybe TPG service errors warrant the same thing. Hmmmm?

 

[CoinCurious]

I have been sending coins to NGC for certification for about 2 years. I have received one coin back that was labeled incorrectly. It is labeled as a $1 coin but it is a half. Not sure if that helps any just sharing my experience with NGC.

[glenashley-migration]

After getting a response from the dealer I purchased the coin from, he stated that he gets a few mislabels with every batch he gets from NGC. He also stated that he sells them as mislabels and does very well. At any rate he is forwarding me PF70 Minnesota which is what I wanted in the first place. I am sending the mislabel back to him. Thanks for all the great info BULLY. I honestly didn't think that a labeling error would substantiate an inflated price. My thinking was about the grading process. Why go through all the checks and balances to grade a coin (especially PF70) only to have it end up with a wrong label.

 

Many thanks to those who commented. A first time poster as well as a newbie coin collector thanks you.

[Oldtrader3]

Three pairs of human eyes inspecting coins against labels=99% accuracy, tops. Why doesn't NGC gives final inspection a scanner readout of the label to check against the coin. NGC could bar code sticker every flip that gets batched by customer and track them through quality control. Scan the flip scan the slab, look at the coin. If the flip stays together with the coin through the process, like medical device batch tags in a bin slot most labeling errors could be made infinitesamal.

[Just Bob]

Welcome to the forum, Glen!

[Bruceswar]

Welcome. They will surely correct this issue here. If you really want the Minne QTR then return this one to the seller and he can take it up with NGC. Good to see someone else from Dallas!

[PerryHall]

Some people will pay a premium for slab errors the way that some people pay a premium for coin errors. If you don't like it, sell it on eBay as a slab error.

[glenashley-migration]

Thanks for the welcome! I can tell I am going to enjoy this hobby even more now. The internet is a wonderful place.

 

Whoo Hooo.. DALLAS RULES!