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Is coin insert/labeling mistake by grading company worth collecting?

jt88jt88 Posts: 2,838 ✭✭✭✭✭
edited February 11, 2023 5:05PM in U.S. Coin Forum

Some people seems to collect coin insert/labeling mistake by grading company. Is this kind of mistake worth premium or even worth collecting rather than sending it back to get it corrected? I have see many insert mistakes in the past but I always send it back to get it fixed. The following mistake is a little big extreme.

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    jt88jt88 Posts: 2,838 ✭✭✭✭✭

    That bring up an interesting question: why Mint error is worth tons of money while grading label error is not. With this question in mind I asked ChatGPT that question. Below are the answers:

    Q: is Mint error worth colleting?
    A: The value of a Mint Error coin depends on several factors, including the rarity and severity of the error, the type of coin, and the overall condition of the coin. Some mint errors can be quite valuable, especially if they are rare and have a significant impact on the appearance of the coin. On the other hand, some errors may be common or minor and have little effect on the value of the coin.

    It's important to note that the market for mint errors can be quite specialized, and the value of a particular error can be difficult to determine without the help of a professional coin dealer or numismatist. If you're considering collecting mint errors, it's a good idea to educate yourself about the different types of errors that can occur and what to look for when evaluating a coin.

    Ultimately, whether a mint error is worth collecting is a matter of personal preference and what you hope to gain from your collection. Some collectors enjoy the challenge of searching for and acquiring rare and unique errors, while others simply appreciate the beauty and historical significance of coins.

    Q: Is coin grading label error worth collecting?
    A: Coin grading label errors can sometimes have an impact on the value of a coin, but it's important to keep in mind that not all label errors are equally valuable. The value of a coin with a grading label error depends on several factors, including the rarity of the error, the type of error, and the overall condition of the coin.

    For example, if a coin is mislabeled with a higher grade than it actually deserves, it may still be valuable due to its rarity, but its value would likely be lower than if it had been properly graded. On the other hand, a coin that is mislabeled with a lower grade than it deserves could be more valuable, as it would be considered a rare find.

    It's important to note that the market for coins with grading label errors can be quite specialized, and the value of a particular error can be difficult to determine without the help of a professional coin dealer or numismatist. If you're considering collecting coins with grading label errors, it's a good idea to educate yourself about the different types of errors that can occur and what to look for when evaluating a coin.

    Ultimately, whether a coin with a grading label error is worth collecting is a matter of personal preference and what you hope to gain from your collection. Some collectors enjoy the challenge of searching for and acquiring rare and unique errors, while others simply appreciate the beauty and historical significance of coins.

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    orevilleoreville Posts: 11,786 ✭✭✭✭✭

    Had it been a USA coin erroneously labeled as-from Mexico or the reverse it would have had more value.

    A Collectors Universe poster since 1997!
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    messydeskmessydesk Posts: 19,704 ✭✭✭✭✭

    Of no value to me. It probably got switched with another coin in the submission, so there's likely an 1895-Zs 8R out there with a Year 9 Fat Man dollar label on it. PCGS may decide to nuke the cert.

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    jt88jt88 Posts: 2,838 ✭✭✭✭✭

    @oreville said:
    Had it been a USA coin erroneously labeled as-from Mexico or the reverse it would have had more value.

    It is a Chinese but with a Mexico label.

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    Mr_SpudMr_Spud Posts: 4,455 ✭✭✭✭✭

    If the error on the label is humorous it’s probably more desirable

    Mr_Spud

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    pruebaspruebas Posts: 4,326 ✭✭✭✭✭

    I’ve got a (US-made) silver round that PCGS labeled as a Mexican coin. Of course, this was done in the very early days of PCGS slabbing world coins.

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    Tom147Tom147 Posts: 1,433 ✭✭✭✭✭

    I have a 2006 Pr Kennedy labeled as a 2008. Thought about sending it back for the correct label, but not a high dollar coin so I'll just keep it.

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    DisneyFanDisneyFan Posts: 1,719 ✭✭✭✭✭

    At FUN I showed a PCGS slab that had the wrong date on it to a NGC rep and asked if it was worth anything. The answer was "No, everybody makes mistakes." The PCGS rep said I would need to pay to have it corrected. : )

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    orevilleoreville Posts: 11,786 ✭✭✭✭✭

    @jt88 said:

    @oreville said:
    Had it been a USA coin erroneously labeled as-from Mexico or the reverse it would have had more value.

    It is a Chinese but with a Mexico label.

    I am aware of that. Not worth any extra.

    Had it been a USA coin with a Mexico label it would have been worth a little extra as a humorous treat.

    A Collectors Universe poster since 1997!
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    burfle23burfle23 Posts: 2,192 ✭✭✭✭✭

    Depends on your definition of "worth collecting".

    I have a few and they always make me chuckle B) ...

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    daltexdaltex Posts: 3,486 ✭✭✭✭✭

    I thought our motto here was "collect what you like". I wouldn't expect to get rich off those, though.

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    PerryHallPerryHall Posts: 45,441 ✭✭✭✭✭

    I see more and more people collecting older slab varieties so it wouldn't surprise me if they start collecting major slab errors. Also, when the slabbing company can't get the country of origin correct, it makes you wonder about the grade.

    Worry is the interest you pay on a debt you may not owe.

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    291fifth291fifth Posts: 23,944 ✭✭✭✭✭

    If you can find someone who is willing to pay a premium for such a thing then it worth selling but not collecting.

    All glory is fleeting.
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    jmlanzafjmlanzaf Posts: 31,984 ✭✭✭✭✭

    @291fifth said:
    If you can find someone who is willing to pay a premium for such a thing then it worth selling but not collecting.

    To YOU. It is worth collecting to anyone who likes them.

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    It would be worthless to me... I collect coins for the attributes of the coin itself. Slabs and labels are extraneous material that often come with a coin. Cheers, RickO

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    291fifth291fifth Posts: 23,944 ✭✭✭✭✭

    @jmlanzaf said:

    @291fifth said:
    If you can find someone who is willing to pay a premium for such a thing then it worth selling but not collecting.

    To YOU. It is worth collecting to anyone who likes them.

    There seem to be an ever increasing number of numismatic collecting specialties that strike me as desperate attempts to escape the reality that many collectors are now priced out of the market for decent coins.

    All glory is fleeting.
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    JimTylerJimTyler Posts: 3,059 ✭✭✭✭✭

    Is the grade right ?

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    PerryHallPerryHall Posts: 45,441 ✭✭✭✭✭

    What would garner more interest at a coin club meeting---this slab or a typical slabbed Morgan dollar? :D

    Worry is the interest you pay on a debt you may not owe.

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    burfle23burfle23 Posts: 2,192 ✭✭✭✭✭
    edited February 12, 2023 4:46PM

    A couple of mine...

    The 1812 is part of my early large cent collection and just happens to have a mechanical error label; really don't care to have it corrected:

    The 1798 is another story- S-144 is one of the rarest varieties and I agreed to buy it from the seller to get it off the market. It is safely in my odd collection now...

    I did report the 1798 to the TPG and the correct variety attribution:

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    DollarAfterDollarDollarAfterDollar Posts: 3,214 ✭✭✭✭✭

    I have the very rare NGC 1861 Franklin Half Dollar PF 66 Cameo. It's a mechanical error but I want a premium if I ever sell it, just because.

    If you do what you always did, you get what you always got.
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    jmlanzafjmlanzaf Posts: 31,984 ✭✭✭✭✭

    @291fifth said:

    @jmlanzaf said:

    @291fifth said:
    If you can find someone who is willing to pay a premium for such a thing then it worth selling but not collecting.

    To YOU. It is worth collecting to anyone who likes them.

    There seem to be an ever increasing number of numismatic collecting specialties that strike me as desperate attempts to escape the reality that many collectors are now priced out of the market for decent coins.

    OR people just like different things...

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    PerryHallPerryHall Posts: 45,441 ✭✭✭✭✭

    I wonder if PCGS can use the serial number on the slab to determine who was the employee who did the final quality control check of the completed slab? :o

    Worry is the interest you pay on a debt you may not owe.

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    RampageRampage Posts: 9,418 ✭✭✭✭

    @PerryHall said:
    I wonder if PCGS can use the serial number on the slab to determine who was the employee who did the final quality control check of the completed slab? :o

    I am 100 percent certain they can do this.

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    RampageRampage Posts: 9,418 ✭✭✭✭

    @jt88 said:
    That bring up an interesting question: why Mint error is worth tons of money while grading label error is not. With this question in mind I asked ChatGPT that question. Below are the answers:

    Q: is Mint error worth colleting?
    A: The value of a Mint Error coin depends on several factors, including the rarity and severity of the error, the type of coin, and the overall condition of the coin. Some mint errors can be quite valuable, especially if they are rare and have a significant impact on the appearance of the coin. On the other hand, some errors may be common or minor and have little effect on the value of the coin.

    It's important to note that the market for mint errors can be quite specialized, and the value of a particular error can be difficult to determine without the help of a professional coin dealer or numismatist. If you're considering collecting mint errors, it's a good idea to educate yourself about the different types of errors that can occur and what to look for when evaluating a coin.

    Ultimately, whether a mint error is worth collecting is a matter of personal preference and what you hope to gain from your collection. Some collectors enjoy the challenge of searching for and acquiring rare and unique errors, while others simply appreciate the beauty and historical significance of coins.

    Q: Is coin grading label error worth collecting?
    A: Coin grading label errors can sometimes have an impact on the value of a coin, but it's important to keep in mind that not all label errors are equally valuable. The value of a coin with a grading label error depends on several factors, including the rarity of the error, the type of error, and the overall condition of the coin.

    For example, if a coin is mislabeled with a higher grade than it actually deserves, it may still be valuable due to its rarity, but its value would likely be lower than if it had been properly graded. On the other hand, a coin that is mislabeled with a lower grade than it deserves could be more valuable, as it would be considered a rare find.

    It's important to note that the market for coins with grading label errors can be quite specialized, and the value of a particular error can be difficult to determine without the help of a professional coin dealer or numismatist. If you're considering collecting coins with grading label errors, it's a good idea to educate yourself about the different types of errors that can occur and what to look for when evaluating a coin.

    Ultimately, whether a coin with a grading label error is worth collecting is a matter of personal preference and what you hope to gain from your collection. Some collectors enjoy the challenge of searching for and acquiring rare and unique errors, while others simply appreciate the beauty and historical significance of coins.

    It is not really an interesting question. At the end of the day, collect what you like and collect what makes you happy. I do not personally feel that this type of error is collectible. I can make an error on an adding machine tape. Would you want to collect it?

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    davewesendavewesen Posts: 5,858 ✭✭✭✭✭

    I am not a lawyer, but have you read clause 5 of the submission terms and conditions?

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    1madman1madman Posts: 1,298 ✭✭✭✭✭

    I see mislabeled coins all the time and it drives me crazy. I will actually pay less for these because of the headache it causes to fix the problem. I would love to turn in sellers to pcgs who offer this stuff because they are basically exploiting the problem. They should be banned from submitting again because it causes work and problems for the buyer, and this doesn’t help the coin market/community.

    Who at pcgs can I email names of regarding clause 5?

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    burfle23burfle23 Posts: 2,192 ✭✭✭✭✭

    @Rampage said:

    @jt88 said:

    It is not really an interesting question. At the end of the day, collect what you like and collect what makes you happy. I do not personally feel that this type of error is collectible. I can make an error on an adding machine tape. Would you want to collect it?

    I suspect your adding machine mistake didn't go through several QC reviews and a finalizer B) ...

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    PerryHallPerryHall Posts: 45,441 ✭✭✭✭✭

    @1madman said:
    Who at pcgs can I email names of regarding clause 5?

    Does PCGS pay a bounty or at least pay a reward in grading vouchers? ;)

    Worry is the interest you pay on a debt you may not owe.

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @davewesen said:
    I am not a lawyer, but have you read clause 5 of the submission terms and conditions?

    Based on numerous posts here, I suspect a fair number of people have never read the terms they agreed to when they submitted their coins.

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    PerryHallPerryHall Posts: 45,441 ✭✭✭✭✭

    @MasonG said:

    @davewesen said:
    I am not a lawyer, but have you read clause 5 of the submission terms and conditions?

    Based on numerous posts here, I suspect a fair number of people have never read the terms they agreed to when they submitted their coins.

    Is it possible the owner of this blundered slab is not the one who submitted it? If so, would the terms of clause 5 be enforceable?

    Worry is the interest you pay on a debt you may not owe.

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    1madman1madman Posts: 1,298 ✭✭✭✭✭

    @PerryHall said:

    @MasonG said:

    @davewesen said:
    I am not a lawyer, but have you read clause 5 of the submission terms and conditions?

    Based on numerous posts here, I suspect a fair number of people have never read the terms they agreed to when they submitted their coins.

    Is it possible the owner of this blundered slab is not the one who submitted it? If so, would the terms of clause 5 be enforceable?

    But pcgs knows who submitted the coin, and that’s the person that should be penalized for putting mistakes on the market. Basically all we need to do is submit a cert # to someone at pcgs, and they start enforcing it.

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @PerryHall said:

    @MasonG said:

    @davewesen said:
    I am not a lawyer, but have you read clause 5 of the submission terms and conditions?

    Based on numerous posts here, I suspect a fair number of people have never read the terms they agreed to when they submitted their coins.

    Is it possible the owner of this blundered slab is not the one who submitted it? If so, would the terms of clause 5 be enforceable?

    Sure, but I doubt PCGS has a claim against anyone other than the original submitter.

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    PerryHallPerryHall Posts: 45,441 ✭✭✭✭✭

    @1madman said:

    @PerryHall said:

    @MasonG said:

    @davewesen said:
    I am not a lawyer, but have you read clause 5 of the submission terms and conditions?

    Based on numerous posts here, I suspect a fair number of people have never read the terms they agreed to when they submitted their coins.

    Is it possible the owner of this blundered slab is not the one who submitted it? If so, would the terms of clause 5 be enforceable?

    But pcgs knows who submitted the coin, and that’s the person that should be penalized for putting mistakes on the market. Basically all we need to do is submit a cert # to someone at pcgs, and they start enforcing it.

    He could claim he didn't notice it and that he assumed the PCGS quality control person did his job.

    Worry is the interest you pay on a debt you may not owe.

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    Cougar1978Cougar1978 Posts: 7,640 ✭✭✭✭✭
    edited February 12, 2023 6:25PM

    No

    It needs correct labeling.

    So Cali Area - Coins & Currency
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    1madman1madman Posts: 1,298 ✭✭✭✭✭

    @PerryHall said:

    @1madman said:

    @PerryHall said:

    @MasonG said:

    @davewesen said:
    I am not a lawyer, but have you read clause 5 of the submission terms and conditions?

    Based on numerous posts here, I suspect a fair number of people have never read the terms they agreed to when they submitted their coins.

    Is it possible the owner of this blundered slab is not the one who submitted it? If so, would the terms of clause 5 be enforceable?

    But pcgs knows who submitted the coin, and that’s the person that should be penalized for putting mistakes on the market. Basically all we need to do is submit a cert # to someone at pcgs, and they start enforcing it.

    He could claim he didn't notice it and that he assumed the PCGS quality control person did his job.

    Sure, no problem. First call from pcgs to the submitter would be a warning and an explanation of clause 5. Second time this submitter neglects it, suspension from submitting for ~30 days. Third time a 1 year suspension. Fourth time permanent pcgs submission ban. Something like this would help clean up the error slab market.

    Yes, pcgs is “human” and makes mistakes. Coin sellers shouldn’t be tricking buyers. Plus it’s easier as the submitter to get the label corrected versus the buyer. What if the buyer doesn’t have a pcgs membership? Can that person still submit for the mechanical error correction?

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    oih82w8oih82w8 Posts: 11,905 ✭✭✭✭✭

    Is it a chinese coin made in Mexico? Turnabout is fair play.

    oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's

    BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore...
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    IkesTIkesT Posts: 2,594 ✭✭✭✭✭

    Personally, I wish I had this Type B quarter for my set. ;)

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    daltexdaltex Posts: 3,486 ✭✭✭✭✭

    @PerryHall said:
    I see more and more people collecting older slab varieties so it wouldn't surprise me if they start collecting major slab errors. Also, when the slabbing company can't get the country of origin correct, it makes you wonder about the grade.

    A hypothesis is that they printed the correct labels, but somehow they got on the wrong coins. So, yes, any correctness in the grade would be coincidental.

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    PerryHallPerryHall Posts: 45,441 ✭✭✭✭✭

    @1madman said:

    @PerryHall said:

    @1madman said:

    @PerryHall said:

    @MasonG said:

    @davewesen said:
    I am not a lawyer, but have you read clause 5 of the submission terms and conditions?

    Based on numerous posts here, I suspect a fair number of people have never read the terms they agreed to when they submitted their coins.

    Is it possible the owner of this blundered slab is not the one who submitted it? If so, would the terms of clause 5 be enforceable?

    But pcgs knows who submitted the coin, and that’s the person that should be penalized for putting mistakes on the market. Basically all we need to do is submit a cert # to someone at pcgs, and they start enforcing it.

    He could claim he didn't notice it and that he assumed the PCGS quality control person did his job.

    Sure, no problem. First call from pcgs to the submitter would be a warning and an explanation of clause 5. Second time this submitter neglects it, suspension from submitting for ~30 days. Third time a 1 year suspension. Fourth time permanent pcgs submission ban. Something like this would help clean up the error slab market.

    Yes, pcgs is “human” and makes mistakes. Coin sellers shouldn’t be tricking buyers. Plus it’s easier as the submitter to get the label corrected versus the buyer. What if the buyer doesn’t have a pcgs membership? Can that person still submit for the mechanical error correction?

    Should PCGS punish the quality control person who missed this obvious blunder?

    Worry is the interest you pay on a debt you may not owe.

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    davewesendavewesen Posts: 5,858 ✭✭✭✭✭

    the 5 certs before this one are all the Chinese coins similar to this one

    is the PCGS database getting full of coins and varieties? The PCGS 6 digit number only allows 1 million unique coins.

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    1madman1madman Posts: 1,298 ✭✭✭✭✭

    @PerryHall said:

    @1madman said:

    @PerryHall said:

    @1madman said:

    @PerryHall said:

    @MasonG said:

    @davewesen said:
    I am not a lawyer, but have you read clause 5 of the submission terms and conditions?

    Based on numerous posts here, I suspect a fair number of people have never read the terms they agreed to when they submitted their coins.

    Is it possible the owner of this blundered slab is not the one who submitted it? If so, would the terms of clause 5 be enforceable?

    But pcgs knows who submitted the coin, and that’s the person that should be penalized for putting mistakes on the market. Basically all we need to do is submit a cert # to someone at pcgs, and they start enforcing it.

    He could claim he didn't notice it and that he assumed the PCGS quality control person did his job.

    Sure, no problem. First call from pcgs to the submitter would be a warning and an explanation of clause 5. Second time this submitter neglects it, suspension from submitting for ~30 days. Third time a 1 year suspension. Fourth time permanent pcgs submission ban. Something like this would help clean up the error slab market.

    Yes, pcgs is “human” and makes mistakes. Coin sellers shouldn’t be tricking buyers. Plus it’s easier as the submitter to get the label corrected versus the buyer. What if the buyer doesn’t have a pcgs membership? Can that person still submit for the mechanical error correction?

    Should PCGS punish the quality control person who missed this obvious blunder?

    Not punish, but put the quality control (QA) team in charge of running this situation so that they see first hand what label errors are coming in for correction. This would solve most of it if they were hands on.

    Every time I get a coin back from pcgs mislabeled, I deal solely with customer service. I think the reholdering/relabeling (QA) team is basically told what to do when the submission gets to them from the receiving team, not actually in charge of the process.

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    burfle23burfle23 Posts: 2,192 ✭✭✭✭✭

    Not mine, but kinda obvious what happened here...

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    PerryHallPerryHall Posts: 45,441 ✭✭✭✭✭

    @burfle23 said:
    Not mine, but kinda obvious what happened here...

    I don't understand how that could have made it thru the final quality control inspection. :o

    Worry is the interest you pay on a debt you may not owe.

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    burfle23burfle23 Posts: 2,192 ✭✭✭✭✭

    Unfortunately I get lots of things like these messaged to me:

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