When the grading service asks you for a value of the coin you submit...

danglen

Doesn't that predjudice the grade the coin gets? And if I think a coin is an MS-66 worth $2500.00, and they grade it as an MS-65 worth $250.00, do I get a credit on the fee I paid? And why should it cost more to grade an expensive coin than a cheap one? Do they take more time to grade the good ones?

merz2

The graders never see your submittal sheet,so they couldn't know what you put on it.

TomB

I believe the values you list are for insurance purposes so that when they send the coins back to you they can be insured for the amounts that you write in.

gmarguli

I believe the values you list are for insurance purposes so that when they send the coins back to you they can be insured for the amounts that you write in.

This is true. However, if your coin gets lost don't automatically think they will pay you this amount.

TomB

Oh, yeah, of course not. You are simply putting an estimate on the coin's value for insurance purposes. In a sense, it is only a one-way estimate in that if you insure a coin for $100 and its true value is $500 then you only have $100 worth of insurance, however, if you insure a $100 coin for $500 you do not automatically have $500 worth of coverage.

Gilbert

Tom,

I agree with your last statement. I also feel that when there is a substantial difference between your estimate and the grade a service assigns, the grading service should contact you BEFORE they mail it, particularly if you underestimate the value. I only time I underestimated and underinsured a coin, it made it back to me, but I would have been sorely p-o ed if it didn't, and I had to settle for the amount I estimated.

Has anyone ever been contacted by a grading service with something like "The coin you thought was worth $500 has been graded XX and is really worth $1000; we need to charge you XX dollars if you want it covered at its full value intransit."

Conder101

<< <i>Has anyone ever been contacted by a grading service with something like "The coin you thought was worth $500 has been graded XX and is really worth $1000; we need to charge you XX dollars if you want it covered at its full value intransit." >>



I know from reports that back in the early days ANACS used to do that. It would not surprise me to learn that it still happens if there is a major swing in the value.

GP

I was contacted recently by ANACS about it. I sent in what ended up being a VAM (beats me, not a VAM collector) and the true value was about 4x what I had estimated. Made me feel good that they actually cared and paid attention

FatMan

This is never a problem at ACG because you always get to choose the value and the GRADE!!!!

HEHE