PCGS GUARANTEE?? HE HE

[Guest]

PCGS has a grading guarantee. We have had it since Day One. NGC also has a grading guarantee. The grading guarantee was one of the things that seperated PCGS from those who went before us (ANACS, NCI) when we launched in February, 1986. The guarantee is pretty simple, but quite powerful...if we make a mistake, we pay for the mistake, not you. So even if the coin is $15,000 and we only received a grading fee of $100, as was the case with the Legend Numismatics 1913-D $20, we pay the value of the coin, or the difference between mistake grade and real grade (coin buyer's option.)

 

The amount of coins we have bought back under the terms of our guarantee has been very steady for the last 15 years...most years it's between $100,000 and $150,000. This is an understandable and acceptable cost of business, since we grade approximately $500,000,000 worth of coins a year.

 

I want to stress that we are paying Laura the $15,000 because that's what we're supposed to do, not because she has been quite public about this coin and this PCGS grading mistake. It's what we always have done and what we will continue to do. We stand behind our product.

 

David Hall

 

So will they pay the difference between a pf 69 coin and a pf 70 coin if a mistake was made? I guess they think pf 70 coins don't exist.That is a lot of mistakes out there. Perhaps, this is why they are failing. Also, shame on Laura for being quite public about her coin.

 

Coolcoin

[keithdagen]

9 times out of 10, send in a PR-70 coin and you'll get it back in a 69 holder with the difference refunded. That's why many people won't touch them anymore.

[Guest]

So why even have a pf 70 designation?

 

Coolcoin

[gmarguli]

90% is an understatement. Probably closer to 99.9%

[braddick]

"Why have a 70 designation"?

 

To keep you in suspense.

[gmarguli]

It's hard to keep you in suspense when you know the ending (69).

[Legend-migration]

Cool Coin,

Shame on me for being so public about my 13D Saint? Give me a break. It was a situation that needed to be brought out in the public. Anyone could have done it..

Sure, I hopefully will get satisafaction in the end, but so will many more people. I forced an issue with David Hall at a time when they were vunerable. And luckily, he responed like he should have.

If public opinion hadn't turned, and Rick Montgomery hadn't left, things would have been staus quo at PCGS and NO ONES coins would be graded right or bought back. Now, EVERYONE has proof that a standard DOES indeed exist over ther. Before it was a wonder.

Hey, I had a problem with an NGC coin once. And they paid me immediately with out so much as a quibble. Well on that 13D Saint, the first time around they just reviewed and sent it back with no note. You'd be public about it too!

 

Laura Sperber

lsperber1@hotmail.com

[GP_]

Laura, just ignore him. I used to not think he was a troll, but the more he posts, the more I am certain he is. Either that, or has no idea about anything and is in the third grade. You did what you had to do to get PCGS to do what their guarantee says they will.

[Guest]

Laura,

I was talking in the way Mr.Hall was thinking. Shame on HIM for bringing YOU into the conversation.Do you think he would have said anything if you said nothing? He could have made his point without dragging you into it. He is shameful. Not you. I hope you understand now.

 

COOLCOIN

[Guest]

 

You did what you had to do to get PCGS to do what their guarantee says they will.

 

That is the whole point. PCGS should have refunded the money without Laura complaining about it.They should have recognized the mistake before Laura started complaining about it because that is what they ( PCGS ) are supposed to do.

 

COOLCOIN

[GP_]

see, he did it again! just when i thought I had him figured out, he goes and changes my thoughts! your first post makes a lot more sense now, thanks.

[e1cnr]

I disagree, if the coin after review and no change had been returned raw for another submission. it probably would have came back with the lower correct score

 

 

what does the guarantee say again? as long as it is in our slab, we will call it what is on the slab, we guarantee it --

 

if the coin turns in the holder and obviously is a couple points lower now then when we graded it, then we will reimburse / refund

[physics-fan3.14]

Bringing up a 9 year old thread? I have no idea what they were talking about, but a little blast from the ancient past is always cool.