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SEGS certification number is saying invalid

Started by heimanla,

15 posts in this topic

heimanla

heimanla

Posted
Posted

Hi. I just have been verifying all my coins online at different grading sites, all of which have come up with correct info and recent price as well. All except the one from SEGS. It's saying invalid. This coin was a gift to my son from his grandpa and I don't know where to go from here. Does this mean it's not a real graded coin?

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MarkFeld

MarkFeld

Posted
Posted

Welcome to the forum.

 

I've heard of many instances in which PCGS and NGC coins didn't show up as valid, either. Usually it means that there is a database problem. I seriously doubt that it's anything to worry about.

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coinman_23885

coinman_23885

Posted
Posted

SEGS doesn't honor its guarantee anyway and selectively edits its website when called on it (see Coin Talk), so it is nothing more than a glorified Coin World holder. In other words, it is basically raw and value isn't hurt. I also don't think anyone actively counterfeits their holders, so it is probably an error. I wouldn't worry too much.

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johnny9434

johnny9434

Posted
Posted
Welcome to the forum.

 

I've heard of many instances in which PCGS and NGC coins didn't show up as valid, either. Usually it means that there is a database problem. I seriously doubt that it's anything to worry about.

yeah, what he said. welcome to the forums as well.
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heimanla

heimanla

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Thank you for all of your responses. I had no problems with NGC, PCGS, ICG or ANACS..just the one coin from SEGS. Had issues with ex stealing from me, and my son mostly, just trying to make sure everything is good and he didn't switch one coin for a less valuable one or a fake. Emptied out entire wheat penny folder from 1909-1958.

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skippy

skippy

Posted
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SEGS doesn't honor its guarantee anyway and selectively edits its website when called on it (see Coin Talk),

 

Can you please provide a link to this discussion?

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coinman_23885

coinman_23885

Posted
Posted
SEGS doesn't honor its guarantee anyway and selectively edits its website when called on it (see Coin Talk),

 

Can you please provide a link to this discussion?

 

Sure, it is at the end of this post. The thread is nuanced so you will need to read the entire thing to get a full understanding. SEGS long advertised that all SEGS coins were covered under its guarantee without qualification. More than one poster submitted coins under the guarantee. The coins were removed from the holders and downgraded; however, SEGS refused to pay out or replace the coins. It claims that its guarantee does not apply to coins encapsulated prior to 2007 (with holders that seem identical to the current generation holder posted on its website). There was no such restriction or qualification on its website. SEGS then sent a letter to at least one poster citing PCGS's retroactive amendments to its guarantee as precedent, and claiming to hide behind changes to its corporate structure (which appear to be nothing more than a corporate alter ego made in an attempt to evade creditors in my humble opinion). SEGS's response was to change its website and guarantee.

 

I have lost all respect for SEGS and its owners.

 

https://www.cointalk.com/threads/segs-not-honoring-guarantee.279756/

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tejas1836

tejas1836

Posted
Posted
SEGS doesn't honor its guarantee anyway and selectively edits its website when called on it (see Coin Talk),

 

Can you please provide a link to this discussion?

 

Sure, it is at the end of this post. The thread is nuanced so you will need to read the entire thing to get a full understanding. SEGS long advertised that all SEGS coins were covered under its guarantee without qualification. More than one poster submitted coins under the guarantee. The coins were removed from the holders and downgraded; however, SEGS refused to pay out or replace the coins. It claims that its guarantee does not apply to coins encapsulated prior to 2007 (with holders that seem identical to the current generation holder posted on its website). There was no such restriction or qualification on its website. SEGS then sent a letter to at least one poster citing PCGS's retroactive amendments to its guarantee as precedent, and claiming to hide behind changes to its corporate structure (which appear to be nothing more than a corporate alter ego made in an attempt to evade creditors in my humble opinion). SEGS's response was to change its website and guarantee.

 

I have lost all respect for SEGS and its owners.

 

https://www.cointalk.com/threads/segs-not-honoring-guarantee.279756/

 

Has there been a resolution that you know of?

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coinman_23885

coinman_23885

Posted
Posted
SEGS doesn't honor its guarantee anyway and selectively edits its website when called on it (see Coin Talk),

 

Can you please provide a link to this discussion?

 

Sure, it is at the end of this post. The thread is nuanced so you will need to read the entire thing to get a full understanding. SEGS long advertised that all SEGS coins were covered under its guarantee without qualification. More than one poster submitted coins under the guarantee. The coins were removed from the holders and downgraded; however, SEGS refused to pay out or replace the coins. It claims that its guarantee does not apply to coins encapsulated prior to 2007 (with holders that seem identical to the current generation holder posted on its website). There was no such restriction or qualification on its website. SEGS then sent a letter to at least one poster citing PCGS's retroactive amendments to its guarantee as precedent, and claiming to hide behind changes to its corporate structure (which appear to be nothing more than a corporate alter ego made in an attempt to evade creditors in my humble opinion). SEGS's response was to change its website and guarantee.

 

I have lost all respect for SEGS and its owners.

 

https://www.cointalk.com/threads/segs-not-honoring-guarantee.279756/

 

Has there been a resolution that you know of?

 

I don't know if the OP or anyone else in that thread resolved the issue. I do know at least one poster consulted with an attorney, but I doubt the individual will pursue a lawsuit because of the low value of the claim.

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Nutmeg Coin

Nutmeg Coin

Posted
Posted

Legal remedies on guarantees should involve full evidence with their responses possibly forwarding the relevant information to the attorney general in their state or consumer protection. Other complaints from previous parties should be consulted.

 

A dealer had many Segs coins in slabs imaged here for example on the Bust coins: http://www.linumis.com/catalog.php?categoryId=010120015&itemType=uscoins

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