Has anyone ever "Returned" a PCGS Perfect coin?

[tnoble10]

I am a novice collector and recently purchased a 1982 Washington Half (PR70DCAM) that I think is over graded. Generally the complaint with PCGS is that a 69 ~should~ be a 70 rather than the other way around.

 

1) Has anyone ever taken PCGS up on their grading guarantee? Since I'm not a dealer, I worry that I won't even get back what I paid for it.

2) What happens to it (assuming that it is flawed and I take PCGS up on their guarantee)? Is it re-slabbed at the correct grade? I don't want someone else to get stuck with it as a perfect coin.

3) Can I buy another PCGS PR70DCAM and have them re-slab into the signed holder if they agree that it is over graded?

4) I notice that in the PCGS price guide that a signed copy of the coin is worth less than another random 1982 Washington Half (PR70DCAM). Shouldn't a signed copy list higher than a non-signed copy?

 

I've attached pictures. The front appears to have a bag mark and scratch on it (the photo doesn't show the shine, just a black mark) between the second and third buttons. The back seems to have an imperfection in the metal.

 

Curious as to your thoughts on the questions above .... Am I too hard on the grader?

 

[tnoble10]

One of my pictures didn't come through ... Here's the front....

[WoodenJefferson]

The one area (left one) appears to be a "strike through" could be lint and would not be considered after mint damage but "struck as is" condition and so minute it would/should have no bearing on the final grade.

 

The other minute "tick" (the one to the right) could very well be post mint damage, unknown?

[tnoble10]

The picture still did not load so I took another....Hopefully this one works.

[gmarguli]

I've returned a few 70s to PCGS. They bought back all but two for a fair price. Those remaining two they returned after a dip - which didn't fix the problem of a hairline and ticks in my opinion.

 

They will reslab the coin at a lower grade and either return it to you with a check for the difference or keep the coin and pay you a little more. From what I have been told, generally their offer is designed to make you take the lower graded coin back as they don't want it.

[tnoble10]

Thanks for your quick reply ... both "shine" so I don't think it is lint.

 

I agree that they are really small. Since I'm not a professional grader I assumed that any flaw (no matter how small) would drop the grade to the next lower grade. Other than the scratches, the coin seems a superior strike to my PR69DCAM.

 

BTW, I'm not sure why I can't load my final picture ... is there a attachment size limit on the posts?

[James_OldeTowne]

enerally the complaint with PCGS is that a 69 ~should~ be a 70 rather than the other way around.

Where have you ever heard or seen that complaint? I don't think anyone has ever shown me a PCGS 69 that he thought should make 70. In other words, PCGS doesn't have a reputation for being "conservative" on the cusp between 69 and 70 that I know of.

 

On the other hand, out of perhaps 100 PCGS and NGC "70s", I have ALWAYS found a defect such that the coin really should have been a 69. In other words, as far as I am concerned, EVERY 70 IS OVERGRADED.

 

That is why I think it borders on insane to pay an absurd premium for "70" over a PQ "69", regardless of grading service.

[TomB]

One thing to keep in mind is that a coin that grades 70 is not defined as perfect. PCGS writes that they define a 70 as "as struck", which can include certain things that might be considered an impairment.

[Schatzy]

I had a dealer return a 1976-S Roosevelt that had a scratch on the torch.

I got the coin at a very good price and I actually ended up getting $78 more

than I paid for the coin. I got another one the following week.

I was very pleased with the transaction. This was the first time I ever returned a coin.

[michael]

first welcome to the boards

 

i think you answered your own question

 

i would next time pick nice 69 graded material that has no little spots or stains like you see on the 70 graded coin use your eye to only buy as perfect coins as you can find aain in 69

 

then you get better value for the money as on a 70 graded blast white cameo coin little spots and stains show up and are seen more so and it costs lots for this nonsence grade

 

better to get your eye trained and buy hand picked almost perfect 69 graded coins that in many instances are better than some 70 graded examples

 

such is the subjective grading registry set coin plastic holdered game where the holdered tag is all impotent the coin less so

 

so you choose what is right for you 70? or 69

 

good luck and again welcome to the boards!!

[pendragon1998]

Returned this PCGS MS70 to the dealer (not PCGS) and exchanged for another PCGS

MS70. It's hard to see from the pics, but I believe it was post-mint damage.

 

 

 

[Conder101]

To answer your third question, No once you submit it for regrading or grade guarantee and they agree it is over graded it gets cracked out and the signed slab is GONE.

[James_OldeTowne]

One thing to keep in mind is that a coin that grades 70 is not defined as perfect. PCGS writes that they define a 70 as "as struck", which can include certain things that might be considered an impairment.

Tom, thanks for the clarification.

 

I should clarify as well and state that every "70" I have ever seen did in fact have post-mint damage, or at least post-mint characteristics that should have kept the coin from being deemed "perfect".

 

"70" should mean "PERFECT", and not "close enough to perfect and besides we need to throw out a bone once in awhile so people keep submitting moderns and lining our pockets".

[pendragon1998]

"70" should mean "PERFECT", and not "close enough to perfect and besides we need to throw out a bone once in awhile so people keep submitting moderns and lining our pockets".

 

I agree with that completely. There should be much fewer 70s in the marketplace.