Does the NGC Guarantee Cover the PL Designation?

[Coagman]

If a Collectors Society members submits for ReGrade a gold coin that has been designated as PL, is it possible to lose the PL designation after the regrade or is both the grade and designation covered by the NGC Guarantee?

 

Lets use a relatively common date pre-1933 gold coin, which is very scarce/rare in prooflike condition, as an example. A collector submits a double eagle graded NGC MS62PL for regrade, because the collector believes the coin looks better than MS62. Is there a chance the coin would be returned as an MS63 (no PL), MS62+ (no PL) or even MS62 (no PL)?

 

Is the PL designation guaranteed like the grade? In this example, an NGC MS62PL could be worth substantially more than a coin graded MS63 (no PL) because of the rarity of coins in prooflike condition.

 

Thanks in advance for clarification on this matter.

 

[Max Spiegel]

Thank you for the question. As long as the coin is submitted in the NGC holder (i.e. not cracked out) then the guarantee covers both the grade and designation. It is very rare for a grade to be lowered when submitted for a regrade, but if it is our guarantee would cover the depreciation.

 

However, if the grade is raised then it is possible that the designation or Star might be removed. For example, if a coin graded PF 66 Cameo Star is raised to PF66 Ultra Cameo, the guarantee would not apply because the grade is higher.

 

With your example, if the coin is raised to an MS63 or MS62+, the guarantee would not apply because the grade is higher. If the grade was changed to MS62, then the grade would apply because the grade is lower (Prooflike was removed).