NGC's revised guarantee

logger7

It looks like they revised their guarantee: https://www.ngccoin.com/coin-grading/ngc-guarantee/

I spoke with their customer service who then spoke to a supervisor who said that a gold coin that cac said had pvc would probably not be subject to their guarantee. He said it would have to go through NCS and the grade may or may not remain the same. Does anyone know how their guarantee has changed? It used to have a 20 year sunset on copper coins, etc., never heard that it may also be lost on gold and silver coins.

RogerB

Only NGC can make the PVC determination. No company is going accept the opinion of another business or individual in this kind of situation.

Unknown

This content has been removed.

ricko

Why not read their guarantee terms....Surely they are available....If the answer (or the guarantee) is not to your satisfaction, ask to speak to someone higher on the management ladder. Cheers, RickO

matt_dac

I’ve never heard of CAC offering anything other than a green or gold bean with no other condition commentary.

MFeld

@matt_dac said:
I’ve never heard of CAC offering anything other than a green or gold bean with no other condition commentary.

They occasionally provide feedback in the form of brief notes.

blitzdude

CAC is certainly not the expert. Why on earth would NGC honor the opinion of some joe blow that has no affiliation with their company. Some around here need to lay off the cac-aide

jmlanzaf

@logger7 said:
It looks like they revised their guarantee: https://www.ngccoin.com/coin-grading/ngc-guarantee/

I spoke with their customer service who then spoke to a supervisor who said that a gold coin that cac said had pvc would probably not be subject to their guarantee. He said it would have to go through NCS and the grade may or may not remain the same. Does anyone know how their guarantee has changed? It used to have a 20 year sunset on copper coins, etc., never heard that it may also be lost on gold and silver coins.

What's the change?

Contrary to the anti-CAC lunatics ranting, I think your suggesting that they want you to possibly accept a conserved, details coin rather than buying back the coin.

Am I correct?

jmlanzaf

@blitzdude said:
@blitzdude said:
CAC is certainly not the expert. Why on earth would NGC honor the opinion of some joe blow that has no affiliation with their company. Some around here need to lay off the cac-aide

I don't think the OP is suggesting any such thing

jmlanzaf

@RogerB said:
Only NGC can make the PVC determination. No company is going accept the opinion of another business or individual in this kind of situation.

I think the point was the mandatory conservation rather than the value guarantee.

logger7

@jmlanzaf said:

@RogerB said:
Only NGC can make the PVC determination. No company is going accept the opinion of another business or individual in this kind of situation.

I think the point was the mandatory conservation rather than the value guarantee.

I shipped the certified coin to them, and since it is the hazy type of pvc cloudiness, not green, it should be a quick dip.

ffcoins

@logger7 said:

@jmlanzaf said:

@RogerB said:
Only NGC can make the PVC determination. No company is going accept the opinion of another business or individual in this kind of situation.

I think the point was the mandatory conservation rather than the value guarantee.

I shipped the certified coin to them, and since it is the hazy type of pvc cloudiness, not green, it should be a quick dip.

Wondering what the followup was on this. Did they reimburse you for your shipping costs? How long did the process take?

Swampboy

I have a PCGS gold coin with PVC on it (green) and clearly visible in the Trueview when it was imaged last January.
I've been told by CS that conservation is my only option.

logger7

@ffcoins said:

@logger7 said:

@jmlanzaf said:

@RogerB said:
Only NGC can make the PVC determination. No company is going accept the opinion of another business or individual in this kind of situation.

I think the point was the mandatory conservation rather than the value guarantee.

I shipped the certified coin to them, and since it is the hazy type of pvc cloudiness, not green, it should be a quick dip.

Wondering what the followup was on this. Did they reimburse you for your shipping costs? How long did the process take?

I had to pay for the conservation, etc.. Mr. Albanese called it pvc, NGC said residue and I had to pay for the whole process, but was able to lower the value estimate so I wouldn't be hit with fees that were too steep. I was out around $200 on the process on a coin I ended up selling for around $6600 to HA.

ffcoins

@logger7 said:

@ffcoins said:

@logger7 said:

@jmlanzaf said:

@RogerB said:
Only NGC can make the PVC determination. No company is going accept the opinion of another business or individual in this kind of situation.

I think the point was the mandatory conservation rather than the value guarantee.

I shipped the certified coin to them, and since it is the hazy type of pvc cloudiness, not green, it should be a quick dip.

Wondering what the followup was on this. Did they reimburse you for your shipping costs? How long did the process take?

I had to pay for the conservation, etc.. Mr. Albanese called it pvc, NGC said residue and I had to pay for the whole process, but was able to lower the value estimate so I wouldn't be hit with fees that were too steep. I was out around $200 on the process on a coin I ended up selling for around $6600 to HA.

Thanks. That’s incredible that on what would be an overgraded coin they still made you pay for the conservation; I would have thought they’d shoulder the cost for that. Did they offer any other remedies?

logger7

Actually before the conservation I was offered over $7000 for the coin as the residue looked original but I guess not.

Process was submitting to cac and then getting reason for rejection. Sending in to NGC where I was told that the guarantee may not apply; I spoke to Rick Montgomery who looked at the coin and said that it was a lock 60 and might star due to semi pl surfaces after conservation, but it stayed the same on grade.

cameonut2011

@logger7 said:

@ffcoins said:

@logger7 said:

@jmlanzaf said:

@RogerB said:
Only NGC can make the PVC determination. No company is going accept the opinion of another business or individual in this kind of situation.

I think the point was the mandatory conservation rather than the value guarantee.

I shipped the certified coin to them, and since it is the hazy type of pvc cloudiness, not green, it should be a quick dip.

Wondering what the followup was on this. Did they reimburse you for your shipping costs? How long did the process take?

I had to pay for the conservation, etc.. Mr. Albanese called it pvc, NGC said residue and I had to pay for the whole process, but was able to lower the value estimate so I wouldn't be hit with fees that were too steep. I was out around $200 on the process on a coin I ended up selling for around $6600 to HA.

Another TPG guarantee bites the dust. I guess CAC is becoming even more important than before since JA at least buys his mistakes.

jmlanzaf

@cameonut2011 said:

@logger7 said:

@ffcoins said:

@logger7 said:

@jmlanzaf said:

@RogerB said:
Only NGC can make the PVC determination. No company is going accept the opinion of another business or individual in this kind of situation.

I think the point was the mandatory conservation rather than the value guarantee.

I shipped the certified coin to them, and since it is the hazy type of pvc cloudiness, not green, it should be a quick dip.

Wondering what the followup was on this. Did they reimburse you for your shipping costs? How long did the process take?

I had to pay for the conservation, etc.. Mr. Albanese called it pvc, NGC said residue and I had to pay for the whole process, but was able to lower the value estimate so I wouldn't be hit with fees that were too steep. I was out around $200 on the process on a coin I ended up selling for around $6600 to HA.

Another TPG guarantee bites the dust. I guess CAC is becoming even more important than before since JA at least buys his mistakes.

He buys them, but at what price?

cameonut2011

@jmlanzaf said:

@cameonut2011 said:
Another TPG guarantee bites the dust. I guess CAC is becoming even more important than before since JA at least buys his mistakes.

He buys them, but at what price?

The prices are published in the CDN for generics. You can solicit bids for better date coins. I've never tried to sell him a rare coin (I send those to auction), but for generics and classic commemoratives I have netted more than I would have after auction or eBay fees.

Edited: I believe the number would almost certainly be higher than a guarantee pay out. And JA will buy it even if you're wrong and the piece is market acceptable so there is no mess or fuss.

ffcoins

@logger7 said:
Sending in to NGC where I was told that the guarantee may not apply

Sorry guess I wasn’t clear about this. They said the residue wasn’t pvc but some kind of normal buildup? Implying that if it had been pvc, the conservation would have been free?

logger7

@ffcoins said:

@logger7 said:
Sending in to NGC where I was told that the guarantee may not apply

Sorry guess I wasn’t clear about this. They said the residue wasn’t pvc but some kind of normal buildup? Implying that if it had been pvc, the conservation would have been free?

From what I heard, it was totally at their discretion whatever the substance was whether they would conserve for free.

ffcoins

Got it.

Not a big fan of all their “at their discretion” but good to understand before sending anything in.

Lakesammman

Interesting results - thanks for the followup.

My understanding from talking with collector submitters is that JA is more than happy to chat with them after reviewing the coins, providing educational feedback as to why a coin didn't "bean".