How many people have ever downgraded a coin? i.e. returned to PCGS for lower grade

Monstavet

I am curious to learn how common this practice is.
Why do people do it?
Why do people NOT do it?

Many people talk about the "PQ" coins in their sets...what about the "LQ" (Low quality) coins?

CarlWohlforth

I had several PR 70 DCAM Jeffs downgraded. They had visible flaws. I didn't want to keep them, nor did I want to sell them. Other coins I just try to describe accurately...

Typetone

I've had two pieces downgraded, a proof Franklin and what was an MS66 1900 Lib 5c. The proof Franklin was actually damaged and needed to be out of a holder. The Lib 5c just wasn't a 66. Got it back as a five with a check.

Greg

keithdagen

I sent a 71-S Ike in 67 back to PCGS because of some heavy hazy toning. PCGS disagreed and kept the grade. I noted my disagreement in the auction listing.

clevegreg

I sent back a SBA that was graded as a 70, but wasn't in my opinion. PCGS concurred and wrote me a check for the value of the coin.

Greg

braddick

But, what about a coin, a Kennedy MS66 for example, that you want in a MS65 holder (because all your other PCGS Kennedies are MS65)? I heard PCGS will not downgrade a coin under these circumstances! In other words, you want the downgrade, forget it. You don't want it- it's a lock!

MoneyLA

I sent a 1964 pr70 washington to pcgs earlier this year. this is the infamous coin that "disappeared" in the mail, later turned up on teletrade, and led to the bust of the postal worker in newport beach recently arrested on mail theft charges. the 1964 pr70 I was sending to pcgs for their "guarantee service" and expected downgrade was spotted. cheers, alan mendelson

pontiacinf

well when Matts ms70 sms comes in, if its not a 70...



LOL...sorry braddick,...couldnt resist...as many hands as this babys been in, i doubt its not 70.

khayse

You do it because at some point you're going to sell or show the coin and you
don't want a big hassle. You don't want someone looking at one overgraded
coin and making assumptions about the rest of your collection. You don't want
to have to sell it with all sorts of legal provisions (e.g. saying it's overgraded
and getting less money or no bids, saying there are no returns on third party
graded coins, etc). You want truth and order in the world and you want an
orange labelled an orange and an MS65 labelled an MS65, not an MS66.

I've never done it but I have one coin that I will sooner or later send in.

I haven't done it yet because I get a kick out of the high grade
that the coin currently has. Also I dread the whole process, sending it in,
getting the regrade and then arguing about what the coin is worth.

-KHayse

Monstavet

How does that whole process work? I suppose I can find out directly fro PCGS, but how hard is it? Who decides what the coin i s worth? IS it just what you paid for it?

TCiccone

If you want a downgrade on the coin, I will tell you how:


CAREFULLY crack the coin from the holder. I stress to be careful during this process for you wouldn't want to cause any damage to the coin. Now remove a staple from and old 2X2 holder and unbend it so it is straight. Hold your coin in your left hand firmly. Now with your right hand, DRAG THE STAPLE across the front of the coin a few times. Now send it in to PCGS for a regrade!

I gaurantee if you do it right, it will come back with a lower grade!

TC

TCiccone

On a more serious note, wouldn't paying for a downgrade be equivalent to paying for an upgrade? Grade on demand? What next, tier based fee schedule? It would be totally wrong and against what they stand for. To aggreeably mis state the grade of a coin. Now I will tell you that some of the sight unseen coins I have received look as if someone paid for the grade!

TC