PCGS Mechanical Error posted by C Ramirez

[CSJournals-migration]

Who or what is attributing their coins?

 

I purchased what I thought was a 1823 Broken 3 Capped Bust Half Dollar from Heritage Auction on 3/19/11. The PCGS holder designated this variety on the holder. I listed this coin on ebay. I received two emails through ebay that this coin was not a broken 3 variety. I looked at the coin more closely, and determined it not not this variety. I canceled my auction. I contacted PCGS through email, I was asked to submit a photo of this coin. Several days later I was asked to send coin back and label my shipping label with "Mechanical Error". I received this coin back with no attribution, just a plain holder. No explanation, nothing to compensate my lost. Does "mechanical Error" mean that a machine graded this coin?, so PCGS is not responsible?.

 

See more journals by C Ramirez

[Dudley the 1st]

I would attempt to have further dialog with PCGS about this, but in all honesty I don't believe they will make any financial re-imbursement to you for any " Premium " you may have incurred There no change in the Grade, so there's no change. This is getting to be serious problem with Graders and needs some immediate attention to correct whatever problem is going on.

[Dudley the 1st]

I can't believe you did not catch this " error " yourself , upon receiving from EBAY and not after you listed the coin at EBAY Auction.

[brg5658]

It's crazy that CAC put their sticker on this coin also, without anyone noticing this mechanical error? I think the auction houses should also be careful of coins with these attributions and also with pedigrees. I realize they post extremely large photos on their site, but it's psychological when a holder from a supposedly top-tier grading service has clearly printed an attribution...frustrating, but I wouldn't expect any reimbursement.

 

To answer your question about a mechanical error, NGC defines it as such:

 

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The determination of what constitutes a mechanical error is at the sole discretion of NGC; examples of mechanical errors include, but are not limited to, the following:

 

* If a coin were labeled a 1955 Doubled Die Lincoln Cent, when, in fact, the coin has no doubling, this would be a clerical error in the labeling description of the coin and not covered by the NGC Coin Grading Guarantee.

 

* If the coin label description references a 1916 Standing Liberty Quarter, when, in fact, the coin in the holder with said label were a 1916 Barber Quarter, the description would be the result of a clerical error. Once again, this would not be covered by the NGC Coin Grading Guarantee.

 

* If a coin were identified as a Proof, when, in fact, it is a business strike and the types are readily distinguishable from each other, this again would be a clerical error and not be covered by the NGC Coin Grading Guarantee.

 

* If a coin were described as an 1881-O Morgan Dollar, when, in fact, it is an 1881-S Morgan Dollar and the mintmark were improperly indentified on the label, this would constitute a clerical error, not covered by NGC's guarantee.

 

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In the words of David Hall at PCGS, he defines a mechanical error as:

 

"A mechanical error is an obvious error. Examples: a clearly mint state frosty surface coin in a proof holder, a 1936 dated coin in a holder that said 1935, a Boone commem in a Texas commem holder, a flat as a pancake band dime in a FB holder, etc. The obvious mechanical error can sometimes be a grade. For example, in 1986 we had a dispute with a dealer because he purchased a MS65 1893-O dollar. The problem was the coin was a bag marked to death MS60 that no one in his right mind would ever consider even MS63 let alone MS65. The guiding concept with mechanical errors is common sense."

[Chris1976]

Another question I would have is "why did cac give a bean to this coin if it infact was not the variety that the TPG claimed it to be?" Apparently it looks that the coin not only had been labeled wrong, but it also passed a 4th party evaluator as well.

Not to mention the fact that it had been passed along through a repitable auction house as well that deals with coins such as this more often than the typical local coin shop dealer.

 

Should of contacted CAC and had them purchase it from you since they "approved" it to be correct as to what the TPG had claimed it to be. You may have gotten better results that way instead of contacting PCGS about it. After all, thats what they are around for, to confirm the coin is what it is claimed to be and make it more "liquid". They made it more liquid alright, it sold as something that it was not and probably for alot more than it was actually worth simply because they placed the "green bean" on the slab.

 

-Chris#2

[Six Mile Rick]

It seems all the grading and auction selling companies made their profit and you "the purchaser" covered all debts due on that one. Now you have a better eye out and sure not to find yourself in the same situation. I usually don't purchase beaned coins as they are just a deploy for more cash not really justified against other beautiful pieces.

 

HAPPY COIN COLLECTING---

[Kove]

There must be something in the water at PCGS and CAC, because the same thing just happened to me.

 

I bought a PCGS MS 65 CAC Connecticut half sight-unseen. I received the coin, and it's actually a Bridgeport half. Both PCGS and CAC missed this.

 

I was given the chance to either get a partial refund (be charged only the Bridgeport price) or return it and have them regrade and re-CAC it. I chose the partial refund, but I'm now thinking I should have just returned it. Beautiful, lustrous Bridgeport, though.

[Mokiechan]

It boggles the mind that your coin could go through PCGS, CAC, and Heritage without anyone catching the error. I know that not every grader can know everything about every series but the fact your Half received the special variety designation implies that someone

at PCGS must have examined the coin for more than just grade and determined it was

Broken 3 Variety. Don't these coins have 3 graders examine the coins?

 

As for CAC, they're sole focus seems to be the grade listed on the slab and whether the coin is undergraded, overgraded, or just right. They probably don't care about any variety

designation since that would be extra work.

 

Then Heritage, unless the coin is one of those very high end coins probably just snaps a picture and sticks it on their website.

 

So the fault lays almost entirely with PCGS and they should acknowledge their error

by compensating the difference in price between a normal and a broken 3 variety.

 

 

[Mokiechan]

I was given the chance to either get a partial refund (be charged only the Bridgeport price) or return it and have them regrade and re-CAC it. I chose the partial refund, but I'm now thinking I should have just returned it. Beautiful, lustrous Bridgeport, though.

 

That is a really pretty Bridgeport. Are you going to send it to NGC for reslabbing?

[Mark T]

Incorrectly labeled coins in TPG holders are more common than most people think. I picked up a MS 65 FH 1917 D SLQ in a regular 1917 NGC holder. This coin was offered in a Heritage Auction a few years ago. I sent it back to NGC and had the coin put in the proper holder.