Did you know: PCGS grading fees
I learned a couple things today that I find very hard to justify, condone or even accept.
I believe most know and are equally disturbed by the double dipping by PCGS with the "Guarantee Premium" charge being for the value of the coin in the new grade. Not the value of the coin in the new grade minus the value of the coin in the old grade. The simple fact the customer is paying grading fees, shipping and insurance twice to fix an obvious error in judgment by PCGS should be penalty enough. Certainly paying all these fees twice PLUS a percentage of the increase in value should be more than enough. But no, they also give no credit for the grade the coin already was.
However here's a couple of what I feel are even more very unfair and abusive fees some may be unaware of:
Let's say, as an example, you have a coin that's graded 65. Let's say according to PCGS price guide the coin is worth $200. Let's say the same coin is worth $500 in 66. You send the coin in for regrade or reconsideration via the proper (value of $300 or less) submission tier "Economy". The coin upgrades to 66. PCGS unilaterally charges for the next tier Regular! This seems ludicrous as the coin was submitted in earnest at the proper tier level when submitted and wasn't valued at $500 until the coin was regraded. Certainly I can see them doing this if someone is sending in a $500 coin and just writing $200 in for the value. But in the case at hand they're charging for something that's after the fact. Again, they're acquiring two grading fees and making the customer pay shipping and insurance twice to correct their error in judgement. But then they tack on "after the fact" fees. Further they reserve the right to charge an additional "penalty"! Penalty for what? Being a loyal customer?
The other is let's say you have what you believe is a variety coin in a standard holder. You send the coin in on the tier consistent with the existing label on their holder. You pay the $18 for attribution and, if the coin is in fact the variety (in their opinion) and relabeled as such they again change the submission tier (and price) according to the value of the coin after the attribution!
These seem very unfair to me, or at least glaring examples of absolute customer disrespect. . Am I missing something?
My guess is if you send the same submissions mentioned in under the higher grading tiers and the coin either doesn't upgrade or attribute there's no refund.
It just seems ethically and morally wrong. I just can't imagine, with the volume of business they have and the massive profits they're generating, why they can't exhibit a bit of kindness and respect for the very people keeping them afloat?