Guarantee submissions

[Nutmeg Coin]

This is an invaluable part of certification, a coin was assigned a strong grade by NGC or PCGS and it becomes clear that it was overgraded or had a problem which should have kept it out of the holder to begin with. I did a submission of a Seated dime to NGC a couple months ago, it had been graded MS62 and NGC agreed that due to lack of luster, etc. it should be notched down a grade:

 

http://i.imgur.com/eMQTW15.jpg

 

http://i.imgur.com/o9m2C6e.jpg

 

In the last 15 years I have had less than a half dozen guarantee submissions.

 

Here is a coin certified by PCGS that was sold through Heritage Auctions a while back. I bought it for $700 from a major New England dealer who said it just needed a reholder that it was a good coin otherwise. Unfortunately it had PVC issues obvious once PCGS agreed reluctantly to reholder the coin based on the holder being scrubbed as you can see: http://forums.collectors.com/messageview.cfm?catid=26&threadid=905199&highlight_key=y&keyword1=Reholder

 

Subsequently the coin was sent in under the guarantee since I did not think I should pay the restoration fee at PCGS, so I ended paying just $35 plus shipping instead of the 4% plus regrading fees, etc..

 

The result on the 1921 Peace dollar:

 

http://i.imgur.com/fXOElPc.jpg

 

http://i.imgur.com/Ot7Hl4F.jpg

 

The question is shouldn't the guarantee cover pre-existing problems that should have been clear to the grading company when they certified the coin?

[halfpint]

 

The question is shouldn't the guarantee cover pre-existing problems that should have been clear to the grading company when they certified the coin?

 

...yes but how would you be able to prove it without a high quality photo of the coin in question?

[Nutmeg Coin]

It was substantiated, because the same coin, same cert. number had sold in the HA system according to the tracking, unless you don't consider Heritage images to be up to snuff?

[halfpint]

It was substantiated, because the same coin, same cert. number had sold in the HA system according to the tracking, unless you don't consider Heritage images to be up to snuff?

 

...what I'm saying is, unless you had a photo of the coin before it was sent to be graded, how could you be sure?

[Nutmeg Coin]

Here is the coin that sold in 2007, no change in six plus years:

 

http://coins.ha.com/c/item.zx?hdnJumpToLot=1&saleNo=453&lotNo=8972&x=0&y=0#12401240832