Top Grading Services need to back their grade guarantees 100%!

[Leothelion]

For a better title, "All submitted coins need to be encapsulated!"

 

(And I'm aware that this has been discussed many times before)

 

This is probably a good idea since none of the TGS's grade guarantees cover coins that they deem AT or fakes but are later proven otherwise! This would help the original owner of misgraded coins recover their loses. In other words, if you end up selling a coin at a low price because it did not certified and the coin ends up certifying later as a original or NT coin by someone else and then sold at 10X the low price you sold it at, the TGS's grade guarantee doesn't cover their opinion when they are in the wrong about not certifying a coin. But they will pay out $14,000 on a coin they did certify and got wrong.

Since the TGS's only back coins they certify, then their opinions on coins that they deemed AT or fakes are as worthless as their grade guarantee since they don't stand by their opinions 100%!

 

But on the other hand, it's probably much more difficult to prove that a coin was NT then AT'ed! This is why all coins submitted need to be encapsulated whether they're real or fake, NT or AT! Any coin residing in a TGS's holder would be covered by the grade guarantee! How much does this make sense?

 

Leo

[Leothelion]

For a better title, "All submitted coins need to be encapsulated!"

 

(And I'm aware that this has been discussed many times before)

 

This is probably a good idea since none of the TGS's grade guarantees cover coins that they deem AT or fakes but are later proven otherwise! This would help the original owner of misgraded coins recover their loses. In other words, if you end up selling a coin at a low price because it did not certified and the coin ends up certifying later as a original or NT coin by someone else and then sold at 10X the low price you sold it at, the TGS's grade guarantee doesn't cover their opinion when they are in the wrong about not certifying a coin. But they will pay out $14,000 on a coin they did certify and got wrong.

Since the TGS's only back coins they certify, then their opinions on coins that they deemed AT or fakes are as worthless as their grade guarantee since they don't stand by their opinions 100%!

 

But on the other hand, it's probably much more difficult to prove that a coin was NT then AT'ed! This is why all coins submitted need to be encapsulated whether they're real or fake, NT or AT! Any coin residing in a TGS's holder would be covered by the grade guarantee! How much does this make sense?

 

Leo

 

Helloooooo? Mark?, Greg?, Bruce?, Mike?, Pat? whatever you go by? I'd like to hear everyone's 2 cents on this matter!

 

Leo

[Bruceswar]

I don't really like that idea.... I like the premise but not what would end up in holders... Just think of all the junk in holders already... why do we need more? I think more an explanation of why it is BB'ed would work for me... or even a different holder that notes the problems like ANACS does.... but a different color label...

[cointagious]

You absolutely nailed it, Leo.

 

I've had coins bb'd that were naturally toned. $25 and nobody standing behind that opinion leaves a bad taste in your mouth.

[IGWT]

I'm not sure I'm understanding you. Are you saying that a TPG ought to guarantee adverse opinions, e.g., that a coin is AT, that a coin is a counterfeit, and that a coin is not a higher grade than the one assigned?

[Leothelion]

I'm not sure I'm understanding you. Are you saying that a TPG ought to guarantee adverse opinions, e.g., that a coin is AT, that a coin is a counterfeit, and that a coin is not a higher grade than the one assigned?

 

Exactly! When a TPG devalues your coin with their 3-4 fold negative opinions from all their professional graders and finalizers then they need to be ready to back it up when they are found to be wrong!

 

The idea that a coin may be questionable is not a absolute reason to say whether something is or not when they may not really know then they should say, "we don't know!"

 

But when they do render an opinion, whether it's positive or not, they had better be able to back it up! Encapsulating such coins would help level the playing field and prevent losses suffered due to their mistakes.

 

But since they're not backing their opinions when it's negative and they didn't encapsulate the coin in the process then what value have they rendered on their opinion in such cases? The answer is $0!

 

Because they only back coins they certify as positive, they can get very selective in what they slab so they don't lose any money. Encapsulating both the positive and negative coins would probably put them out of business but at least they could be held accountable for their mistakes when they make them.

 

Leo on a rampage!

[zrlevin]

The idea that a coin may be questionable is not a absolute reason to say whether something is or not when they may not really know then they should say, "we don't know!"

 

Isn't it their job to know, though? That's why I send in coins to be certified, to get a definitive answer. It's their job to know!

 

If a coin is questionable, I think they should figure it out. Maybe the major TPG's should work together to find an answer. I don't think it will happen, but that's a solution!

 

Zach

[IGWT]

A guarantee that a coin is bad? Let's see . . . if a TPG overgrades a coin or misses a problem, then the coin is worth less than as graded, i.e., a buyer receives less than he paid for in reliance on the TPG opinion. The guarantee requires the TPG to pay the difference in value to the buyer.

 

If a TPG undergrades a coin or sees a non-existent problem, then the coin is worth more than as graded, i.e., a buyer receives more than he paid in reliance on the TPG opinion. Under these circumstances, would the guarantee require the buyer to pay the difference in value to the TPG? After all, the TPG is responsible for the buyer's windfall.

[MikeKing]

You absolutely nailed it, Leo.

 

I've had coins bb'd that were naturally toned. $25 and nobody standing behind that opinion leaves a bad taste in your mouth.

 

that is a good point.

but then, realistically, financially speaking, they become a sort of insurance company? no?

[michael]

Top Grading Services need to back their grade guarantees 100%!

 

[jom]

Top Grading Services need to back their grade guarantees 100%!

 

I can 100% guarantee this won't happen.

 

jom