NGC Misgraded coins? Are mistakes rare?

[daman-migration]

I recently purchased a 1961 Franklin Half NGC graded as MS67. When I received the half the first thing that I noticed was that this was a Proof coin not a Mint State coin. I was able to locate someone else who purchased 3 other coins that were submitted at the same time as this 61 Franklin and all 3 of those are also supposed to be Mint State but are Proofs. The slabs are intact and are consecutive serial numbers. Has anyone ever heard of this happening on NGC graded coins. I have 400-500 graded coins in my collections and many of those are NGC graded and I'm a little nervous. I called Rick Tomaska with R&I Coins who is acknowledged to be one of if not the worlds leading expert on Frankins, and after reviewing photos he agrees that this is a Proof not MS67. Rick indicated that the issue may not be related to the grading but to the people who slab the coins. I know that NGC is one of the leading grading companies so I want to believe mistakes like this are rare. This is not a slam or attact on NGC as I have 100's of NGC graded coins. I'm just interested if others have experienced this. Thanks.

[AVickery]

Hi,

 

What you have is a coin that is mislabeled, not misgraded. This type of clerical error rarely leaves incorrect. In the past, I would say that perhaps 1 in several thousand coins left NGC with incorrect information just like your Franklin half. We have recently implemented improvements to even lower this rate to nearly nil. If you are nervous about other label information being incorrect, please review your NGC graded coins and reply back to me if any of your other pieces' label information does not match the coin. We will certainly correct the label information on your Franklin half for you at no charge, send it in to the Attention of Scott Heller with a note attached explaining the issue and we will take care of it for you. If you have any other issues or questions, feel free to PM me or post here.

 

Thanks,

[jgrinz]

This mistake does happen as I have had personal experience. In backing up what

Andrew Vickery said The coin I submitted for a relabeled was handle professionally and QUICKLY with only a ONE day turn around on thier end.The cost was all picked up by them EXCEPT for shipping on my end.