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If PCGS guarantees a coins grade how can it drop 2 points as a result of a simple spot review?

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    << <i>I have a nicely toned coin in an old slab, calling this a rattler is an understatement. After receiving the coin I examined it for 30 minutes, that is when I noticed the coin was rotating in the slab. Is it possible for the coin to be damaged while rotating in the slab ?? I would like to submitte the coin to be placed in a new slab ( I have some free submissions). Will it come back a 64 ?? Some input please >>



    If you send it in for a simple re-holdering then they will NOT change the grade. They do not grade the coins on reholder submissions, only on regular submissions, crossovers, reviews etc.
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    BoomBoom Posts: 10,165
    It's not a money issue and someone keeps asking "what does it look like now?" I took exception with the first offer which was they keep the coin and pay me considerably less than what I paid(which was a 'sale' price" on everything in the store). Since I just got the phone call yesterday obviously I do not have the coin in my posession. I suppose the thing that troubles me is the fact that at some point in time "SOMETHING" occured within the slab-PCGS has a guarantee in place for this. The second offer is more acceptable however the bottom line is-all I want is a PCGS 65 1935-S Quarter. Prior to this I did not know that this free service, called a spot review, even existed. In hindsight I should have done what my gut instinct told me to do...to return the coin-however I was assured by the dealer and PCGS that this was a minor problem. I didn't think so as whatever it was , was on the coin and the slab. It appeared to not have been thorughly dried and placed in the slab still wet. I presented this to all of you whose opinions I have come to respect. I am not bashing PCGS...quite the opposite is true, in fact. I believe they are the best service on the planet and everyone that I've ever come in contact with has treated me with dignity and respect. I said something that is not correct. I pulled my copy of the submission form and nowhere did I mark re-grade or re-holder,,,simply "spot review" as instucted. I am thankful for everyone's opinions and advice and also PCGS who I suppose is doing the right thing. ..letting me have my coin back at the proper grade and compensating me for the difference. I am prepared to close this issue and move on.image THANKS EVERYONE- and YOU TOO PCGS
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    BoomBoom Posts: 10,165
    I just spoke to Mr. Hall and I must say .... he is ONE CLASS ACT ! Thank you DH. I appreciate you taking the time to actually speak with me! I have nothing but utmost respect for everyone affilliated with the Name-PCGS. Once again, I want to thank everyone on these boards for your opinions which I have also come to respect! If you made any sense of my "stupor"- my attempt to present this situation...believe me you did well. I' am officially closing the book on this issue as of NOW!image
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    relayerrelayer Posts: 10,570
    The period between an offer and an acceptance is known as negotiation.
    image
    My posts viewed image times
    since 8/1/6
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    jamesfsmjamesfsm Posts: 652 ✭✭
    So, Boom, What happened after speaking to Mr. Hall?

    If it were my choice, I'd take the coin reholdered as an MS63 and the cash. It's pretty obvious that Boom still thinks the coin could have been re-dipped and slabbed MS65 so in an MS63 holder it must be "the nicest MS63 on the planet."

    Can you fill us in on the end solution?
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    WondoWondo Posts: 2,916 ✭✭✭
    Boom,

    I, for one, was awed by your excellent rant. image I am glad to hear that PCGS is taking care of the situation as they advertise. This was an illustrative case study of complete problem to resolution conflict.

    Ok, everybody, group hug. image
    Wondo

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    BoomBoom Posts: 10,165
    Truly speaking, it was quite pleasant to actually speak with the head Honcho in person instead of an email or thru someone on his staff. Don't get me wrong-they are all quite pleasant as well, but when you have one on one dialogue with the man himself he explained things in such a way that put to rest all my concerns. He answered all my questions and I listened to all that he had to say and let's just say, we now have a complete meeting of the minds. We both understand one another and why things transpired the way they did and that this will all be resolved. Very satisfying, indeed! Nothing but respect for DH here!image
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    jamesfsmjamesfsm Posts: 652 ✭✭
    So, after cutting through the compliments and kudos for PCGS, what exactly did they agree to?

    Surely, it cannot be a secret after ranting so publicly about the whole dillema.
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    orevilleoreville Posts: 11,807 ✭✭✭✭✭
    boom: Did PCGS re-rinse the coin in question to remove the residue?

    The part that confuses me me there was no request to regrade the coin or a coin grade review. Is this part of a new PCGS get tough policy on existing slabs?

    A Collectors Universe poster since 1997!
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    jamesfsmjamesfsm Posts: 652 ✭✭
    I echo some of the other comments.

    First, Boom says PCGS is terrible and can't tell an MS63 from an MS65.

    Now, Boom claims to be buds with Mr. Hall and can't withhold his loving gushes.

    Since Boom aired his laundry in public, I think it is fair to ask Boom exactly what PCGS did to make him so happy. Surely, PCGS would love the great public relations of one happy Boom.
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    WhitewashqtrWhitewashqtr Posts: 737 ✭✭✭
    "let's just say, we now have a complete meeting of the minds".

    Boom

    Sounds like you convinced Mr. Hall to clean up the coin and leave it as a 65. Being that you didnt divulge this information after making everyone insane, leads me to believe I am correct.

    However, before I speculate further.... TELL US WHAT THE FINAL OUTCOME ACTUALLY IS.

    Is there a freshly dipped, 1935-S MS65 Quarter out there?

    WWQ
    HAVE A GREAT DAY! THE CHOICE IS YOURS!!!!
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    BoomBoom Posts: 10,165
    The final outcome IS....DH gave me his word to either replace the coin or compensate me for my loss. I thanked him for him taking the time to actually speak with me and let him know that all I want is what I thought I had purchased....a problem free, PCGS 65 1935-S Quarter. His word is good enough for me as I have no reason NOT to believe him. When I purchased the coin at the very beginning of January, judging from the scanned images only- I had no way of telling there was a problem. Had I known there was one I would never have wasted my time with it. Actually, Oreville brought the problem to my attention. He has an excellent eye and told me it NEEDED to be addressed or the coin would continue to deteriorate. I made a call to the dealer, advised him of the problem who, in turn advised me of my options. Other than the milky White substance on the inside of the slab and the coin being "proof-like" the coin was otherwise quite nice, "strike-wise". I then contacted PCGS and was instucted as to what to do concerning this sort of problem. The process is a free service, a part of the PCGS guarantee, known as a "spot review". The rest is History. So, as it stands I am awaiting resolution which I'm sure WILL take place after speaking with HRH himself. All I wanted was an explanation as to how a coin, otherwise problem free, in light of PCGS' guarantee of grade, could drop two whole grades when #1- Obviously at some point in time it must have been a 65 and #2- how this could transpire as a result of this procedure called a spot review. HRH took the time to answer all my questions and assured me that the problem would be resolved. What REALLY freaked me out was the thought of sending in 4 very expensive keys for re-holdering and THEM dropping in grade by 2 points in which case I would really fry !
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    WhitewashqtrWhitewashqtr Posts: 737 ✭✭✭
    Sounds like another SATISFIED CUSTOMER!!

    Now, if you do end up with the coin, crack it out and see what it comes back the next time. If its as nice as you say, and without the milky white substance on it, sure to come back "upgraded".

    WWQ
    HAVE A GREAT DAY! THE CHOICE IS YOURS!!!!
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    << <i>#1- Obviously at some point in time it must have been a 65 >>


    That is by no means a cetainty. We have all seen coins in 65 slabs that were not and probably never were 65's
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    I'm glad that Mr. Hall has converted Boom into a believer.

    I guess however that Boom has decided not to say what the end solution is exactly.

    If you get the same coin back Boom, please PM me as I'd like a shot at buying it.

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