Customer Bill of Rights

Spooly

FAIR MARKET PRICES.
The customer can call PCGS at 1-800-447-8848 to report any instance in which an authorized dealer, in offering to buy a PCGS coin from the customer, attempts to justify a lower than market purchase or bid price for the PCGS coin on the basis of allegedly improper grading by PCGS, or provides the customer with an unreasonably low purchase or bid price for the PCGS coin (with or without any allegation relating to PCGS's grading of the coin).


Bill of Rights


Has anyone ever turned in a Dealer for low balling a price?

coinguy1

Spooly,

That is some interesting, but not well defined language - "or provides the customer with an unreasonably low purchase or bid price for the PCGS coin (with or without any allegation relating to PCGS's grading of the coin)."


I wonder what "unreasonably low" would mean? 10% below something or other? 15%? I would like to know if a PCGS authorized dealer has been accused of that and what the outcome was!

Spooly

I have had PCGS Dealers offer me 50% of retail. I said "no thanks".... sold them on e-bay for retail. I wonder where PCGS draws the line?

keithdagen

How about $600 below Greysheet ask of $2200? Does that count?

Tonelover

Although they state it in their Bill of Rights, there's no legal obligation for dealers to adhere to it. There are plenty of absolutely hideous coins out there that are worth far less than published bids, you won't find a dealer around who is willing to pay that just because it has a PCGS label on it. That's what the PCGS buyback guarantee is for.

attempts to justify a lower than market purchase or bid price

More ambiguity. What is "market purchase price" anyway?

There are dealers who trade on a sight unseen network and if they have published bids they are indeed obligated to honor their bid just like the stock market. But for the sight-seen buyer this "rule" has no bearing and PCGS can't do anything to tell them how to buy and sell coins.

Placid

No pcgs can't tell anyone how to do business but pcgs could remove the dealers pcgs authorized dealer status.

keithdagen

That's what the PCGS buyback guarantee is for

Assuming PCGS agress with those dealers. Had a 71-S MS-67 Ike that was butt-ugly. Local Ike specialist told me so, said he couldn't offer more than 66 money (a significant difference). Sent to PCGS for review. Returned as MS-67. Sold on E-Bay and put in the listing that the coin looked like crap and I believed it was a 66.