What exactly IS the PCGS Variety Attribution guarantee??

georgiacop50

I was perusing the FAQs under variety attribution and was surprised to find that there even is such a thing.

@MarkTalk perhaps you can explain exactly what the PCGS Variety Attribution guarantee entails?

I know that some months ago Don Willis stated that mis-attributed coins could be sent back to PCGS to be corrected, but since Mr. Willis' departure from PCGS, the thread containing that generous offer has been deleted. Does that mean the offer has been withdrawn?

WaterSport

Better not have been, I got one headed back very soon. I will be also asking (begging?) for the cost to get a second opinion, postage to that expert and return postage to PCGS - I don't think its too much to ask for since THEY made the mistake. No $10 handling fees, no return postage to me, no $5 new holder, Etc. Just fix the problem.

WS

Cameonut

I don't know about PCGS, but I can tell you what happens across the street from a recent experience in November.

I sent two certified and attributed proof varieties back for consideration. I was right on both - they were not the cherrypicker varieties. The coins were reholdered with proper proof designation and a sticker that simply read strike doubling. Returned to me as almost worthless pieces. I was stuck with the difference in value and the costs to return them. Bottom line - no guarantee on their mistakes. A lesson learned and tuition paid - I will never return another variety to them again or buy a variety in those holders sight unseen.

Another reason why 95% of my collection is in PCGS plastic. No matter what PCGS's policy is, it cannot be worse than across the street.

cameonut2011

@Cameonut said:
I don't know about PCGS, but I can tell you what happens across the street from a recent experience in November.

I sent two certified and attributed proof varieties back for consideration. I was right on both - they were not the cherrypicker varieties. The coins were reholdered with proper proof designation and a sticker that simply read strike doubling. Returned to me as almost worthless pieces. I was stuck with the difference in value and the costs to return them. Bottom line - no guarantee on their mistakes. A lesson learned and tuition paid - I will never return another variety to them again or buy a variety in those holders sight unseen.

Another reason why 95% of my collection is in PCGS plastic. No matter what PCGS's policy is, it cannot be worse than across the street.

@Cameonut said:
I don't know about PCGS, but I can tell you what happens across the street from a recent experience in November.

I sent two certified and attributed proof varieties back for consideration. I was right on both - they were not the cherrypicker varieties. The coins were reholdered with proper proof designation and a sticker that simply read strike doubling. Returned to me as almost worthless pieces. I was stuck with the difference in value and the costs to return them. Bottom line - no guarantee on their mistakes. A lesson learned and tuition paid - I will never return another variety to them again or buy a variety in those holders sight unseen.

Another reason why 95% of my collection is in PCGS plastic. No matter what PCGS's policy is, it cannot be worse than across the street.

I agree in part, and I am resistant to buying NGC varieties for the same reason, but in fairness, it has always been stated in their guarantee that it does not cover variety attribution. The PCGS guarantee purportedly does, but I have never sent one in under the guarantee.

Crypto

I think NGC’s guarantee and PCGS’s have more in common than they have differences.

Beware the Mechanical error/mistake designation. Being judge, jury, both lawyers and defendant typically turns out well for the defendant.

davewesen

I did one a year ago, had an PCGS attribution that was not. The attribution value I put near $80 , but the correct value was near $5. I tried selling it as is, but people kept telling me to send back, so I did.

They fixed it and sent it back to me. I called customer service asking about the charge and their guarantee. The person I talked too was unaware of their guarantee. I told them I bought their slab because they called it XXXX and spent $80 and it was only worth $5. I told him they shouldn't charge me for their mistake and I should be compensated for error. He said he would have to talk to supervisors and graders and would get back to me.

I got a call back and the customer service guy started talking about 'mechanical error'. I told him a mechanical error is something like the wrong denomination, year or mintmark that 95% of collectors would know. If the error is something that less than 1% of collectors would know, it is just a mistake. They said they would talk to supervisors and get back to me.

A couple weeks later I got a call. They refunded my charge for change and they are giving me 2 free express gradings. I had never had anything needing express grading before, but anyway last month I used them on a couple coins (I still paid variety, handling, return shipping).

I am happy, but am not sure what they would have done with a variety with a premium in the thousands.

RadioContestKing

I know of about 8 Washington quarter varieties that are wrong. I wish you luck in getting a straight answer to this question. I noticed they ignored all our questions in the open forum session and really that did not surprise me.

Last year I noticed a 1940 d DDO 101 that was sold off Heritage that is NOT the ddo. I notified the buyer and got no reply. Buyer paid over 750 (This is part of the problem that a certain few would rather fill a hole in there set even if the coin is wrong.) Now after contacting pcgs I was assured they would take care of it.

Here is exactly what they did, they removed the image from coin facts, yep that's it. The coin is still in a set and in the pop reports. Now being a player in building this same set I find these coins not only affect the price guide(because it sells for cheap) but it also messes the pops up. This coin will also bite another collector in the butt when the coin appears on the market years from now. You have also mentioned all the 1961 d/d 501 that are wrong.

I really don't know how they can fix this, as some of those coins have sold for MORE than price guide. Collectors need to stand up and send the wrong coins back and our host needs to step up and pay the price that the collector paid for the coin in the first place in a proven auction.

Enjoy Tom

cameonut2011

@davewesen said:
I did one a year ago, had an PCGS attribution that was not. The attribution value I put near $80 , but the correct value was near $5. I tried selling it as is, but people kept telling me to send back, so I did.

They fixed it and sent it back to me. I called customer service asking about the charge and their guarantee. The person I talked too was unaware of their guarantee. I told them I bought their slab because they called it XXXX and spent $80 and it was only worth $5. I told him they shouldn't charge me for their mistake and I should be compensated for error. He said he would have to talk to supervisors and graders and would get back to me.

I got a call back and the customer service guy started talking about 'mechanical error'. I told him a mechanical error is something like the wrong denomination, year or mintmark that 95% of collectors would know. If the error is something that less than 1% of collectors would know, it is just a mistake. They said they would talk to supervisors and get back to me.

A couple weeks later I got a call. They refunded my charge for change and they are giving me 2 free express gradings. I had never had anything needing express grading before, but anyway last month I used them on a couple coins (I still paid variety, handling, return shipping).

I am happy, but am not sure what they would have done with a variety with a premium in the thousands.

If they didn't honor the guarantee the first time, why would you want the coupons for more grading? I think this answers the OP's question about the guarantee: Treat all varieties as raw coins in a 2x2 - got it!

Crypto

@cameonut2011 said:

@davewesen said:
I did one a year ago, had an PCGS attribution that was not. The attribution value I put near $80 , but the correct value was near $5. I tried selling it as is, but people kept telling me to send back, so I did.

They fixed it and sent it back to me. I called customer service asking about the charge and their guarantee. The person I talked too was unaware of their guarantee. I told them I bought their slab because they called it XXXX and spent $80 and it was only worth $5. I told him they shouldn't charge me for their mistake and I should be compensated for error. He said he would have to talk to supervisors and graders and would get back to me.

I got a call back and the customer service guy started talking about 'mechanical error'. I told him a mechanical error is something like the wrong denomination, year or mintmark that 95% of collectors would know. If the error is something that less than 1% of collectors would know, it is just a mistake. They said they would talk to supervisors and get back to me.

A couple weeks later I got a call. They refunded my charge for change and they are giving me 2 free express gradings. I had never had anything needing express grading before, but anyway last month I used them on a couple coins (I still paid variety, handling, return shipping).

I am happy, but am not sure what they would have done with a variety with a premium in the thousands.

If they didn't honor the guarantee the first time, why would you want the coupons for more grading? I think this answers the OP's question about the guarantee: Treat all varieties as raw coins in a 2x2 - got it!

How is that different than the grade exactly? TPGs grades are great... unless they
Changed in the holder
Damaged during grading
PVC
Milk spots
Paste on gold
Different Color
Got the holder wrong
Grading standards change

Holders are basically fancy & strong 2x2s from one source opposed to any old dealer. As always and forever, buyer beware and know what you are buying.

cameonut2011

@Crypto said:
How is that different than the grade exactly?

It's not. I was censoring myself.

koynekwest

@Cameonut said:
I don't know about PCGS, but I can tell you what happens across the street from a recent experience in November.

I sent two certified and attributed proof varieties back for consideration. I was right on both - they were not the cherrypicker varieties. The coins were reholdered with proper proof designation and a sticker that simply read strike doubling. Returned to me as almost worthless pieces. I was stuck with the difference in value and the costs to return them. Bottom line - no guarantee on their mistakes. A lesson learned and tuition paid - I will never return another variety to them again or buy a variety in those holders sight unseen.

Another reason why 95% of my collection is in PCGS plastic. No matter what PCGS's policy is, it cannot be worse than across the street.

I know that same exact feeling. It happened 25 years ago and I haven't been back since.

Crypto

@koynekwest said:

@Cameonut said:
I don't know about PCGS, but I can tell you what happens across the street from a recent experience in November.

I sent two certified and attributed proof varieties back for consideration. I was right on both - they were not the cherrypicker varieties. The coins were reholdered with proper proof designation and a sticker that simply read strike doubling. Returned to me as almost worthless pieces. I was stuck with the difference in value and the costs to return them. Bottom line - no guarantee on their mistakes. A lesson learned and tuition paid - I will never return another variety to them again or buy a variety in those holders sight unseen.

Another reason why 95% of my collection is in PCGS plastic. No matter what PCGS's policy is, it cannot be worse than across the street.

I know that same exact feeling. It happened 25 years ago and I haven't been back since.

that kind of stuff happens, there was collector who got a rare CC Trade with choice chops and color in near condition census out of an auction couple months ago. It got damaged/ruined during the crossover process and he got nothing but jerked around. When he vented he got banned and most of post from all time erased. Stuff like that can ruin collectors passion for the hobby and happens all the time.