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Certification guarantee

Started by Nutmeg Coin,

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Nutmeg Coin

Nutmeg Coin

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Posted

http://www.ngccoin.com/coin-grading/guarantee.aspx

 

I was reading the NGC certification guarantee. Some loopholes are evident, such as cents, etc. which are more likely to turn in the holder.

 

Also there is this interesting provision:

 

"Further, in fulfillment of the NGC Coin Grading Guarantee, NGC may request and submitter shall be required to provide information regarding the transaction history of a particular coin, including the date purchased, the purchase price and the transaction amount. NGC may also request that a submitter reverse a prior transaction. The submitter acknowledges that his or her inability to provide requested information and / or non-cooperation hinders NGC from fulfilling its commitment under the terms of this Guarantee, and in such cases NGC shall not be required to provide any of the listed remedies."

 

As usual the law and the specific examples and case studies of how it works out is pretty important. Has anyone heard of cases where a guarantee claim got down to the claimant being required to provide transaction history?

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