grading guarantee- can it be profitable?

darktone

If I see a $4,000 coin(retail) that is clearly over graded and cleaned by PCGS/NGC could one send it in for downgrade and make some money if it was purchased cheap enough say for $2,000. I don't think this is an ethical way to buy coins with this motive in mind but I see coins like this in auctions sometimes. mike

sinin1

?? try it and let us know -


would really suck if the slab had been tampered with and PCGS notices but you do not - especially if your $2000 purchase was only worth $500 not $4000

darktone

assuming the coin is from a major auction and could be returned to them if proved to be in a counerfiet slab.

sinin1

Interesting - if it was in a major auction house sale - then the sales price would be listed/available

would PCGS value it at greysheet ? or look at the last few sold and determine price ? ( and see the one they are trying to determine price on )

darktone

What if I hold onto the coin for a few months and tell them I paid full retail for it in cash at a coin show? Oh yeah I am not saying this is specifally about PCGS or NGC. mike

ColonialCoinUnion

Could it theoretically be profitable? Sure. Just as you could theoretically cherry-pick every decent coin in an ACG holder at short money and cross them all to more reputable holders.

Way too many uncertainties in this to know how how the grade guarantee would be applied (if at all) by whatever firm, and what your potential re-imbursement would be, etc.

darktone

If you were really unethical you put it on ebay and sell it as a PQ piece.

Boom

Suppose the opposite were true and I found a severely undergraded coin that also has been mislabeled completely-wrong year and M/M? Acoin marked 1946 PCGS 63 is actually a 1948-S PCGS 66!!

darktone

Boom, I have never run across that problem but I would most likely point it out to the seller as I would not want anyone to lose like that. mike

sinin1

me too

whenever I see a $50 coin and the seller is asking $20, I ask to see if they have the price right

geb209

You could never make a profit using the grading guarantee. No matter how overgraded or how cleaned, the grading company will say its our opinion and we stand behind it. While there open to honoring the guarantee for fingerprints, overgraded or cleaned? You can bet your life, NO!

nwcs

It depends on how much of a discount you get, what they end up downgrading it to. There is a point where it becomes profitable.

MrEureka

grading guarantee- can it be profitable?

Already is...for PCGS.

tompkins

<< <i>You could never make a profit using the grading guarantee. No matter how overgraded or how cleaned, the grading company will say its our opinion and we stand behind it. While there open to honoring the guarantee for fingerprints, overgraded or cleaned? You can bet your life, NO! >>

This just ISN'T true!! I had one coin downgraded (from PR70DCAM) by PCGS. Their offer was a fair price for a PR70 which happened to be about $10 more than I had paid. So, no, I didn't make any money; but I didn't lose any money, which is what the guarantee is supposed to be about. And, obviously, I would have preferred to have a PR70 coin, which is why I bought it (based on photos in an auction) in the first place.

Pete

Russ

<< <i><< You could never make a profit using the grading guarantee. No matter how overgraded or how cleaned, the grading company will say its our opinion and we stand behind it. While there open to honoring the guarantee for fingerprints, overgraded or cleaned? You can bet your life, NO! >>

This just ISN'T true!! >>



Pete,

Of course it isn't true. Some people just like to spout off on things about which they know nothing.

Darktone,

Yes, it can be profitable, and was for me the one time I needed to use the guarantee.

Russ, NCNE

geb209

Not true? Well, it is in my case. Ive got 2 coins that have been harshly cleaned. I mean harsh. PCGS balked on both of them. Charlie said I could take them to court and theyd simply say that in there opinion the coins were not "harshly" cleaned. One of them is a Eliasberg coin. They're both cleaned -- that's a fact. Now, what do you say the chances are that I could crack them out and resubmit them? BB special baby. Ive submitted coins that have only been slightly wiped and received a bb. Moderns graded 70 are a lot different than the classics. I guess you've had more luck than I have had. It's all relative and I can only speak to my experiences. Now, are you calling me a liar or are you just saying that your experiences are different? I do know about my experiences. I know nothing of yours.