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What if I have a PCGS-slabbed coin that I think is overgraded by a point?

dan1ecudan1ecu Posts: 1,573
in U.S. Coin Forum
Would the Presidential Review be the appropriate way to submit it? They pay the difference between what you paid and the new value of the coin if it's downgraded, correct?

Thanks,

Dan
Dan McInnes

mcinnes@mailclerk.ecok.edu">dmcinnes@mailclerk.ecok.edu

Comments

  • tjkilliantjkillian Posts: 5,578 ✭✭✭
    Just submit the coin for grade review, not presidential review. If they don't agree with the grade of the coin, they will do one of three things: get you a properly graded coin, pay you for the current value, or pay you the difference between the original grade and the new grade and let you keep the coin.

    Tom
    Tom

  • foodudefoodude Posts: 3,567 ✭✭✭
    How long does the "grade review" process usually take. Pug Dog, you can't answer this question.
    Greg Allen Coins, LLC Show Schedule: https://forums.collectors.com/discussion/573044/our-show-schedule-updated-10-2-16 Authorized dealer for NGC, PCGS, CAC, and QA. Member of PNG, RTT (Founding Platinum Member), FUN, MSNS, and NCBA (formerly ICTA); Life Member of ANA and CSNS. NCBA Board member. "GA3" on CCE.
  • MrEurekaMrEureka Posts: 24,194 ✭✭✭✭✭
    What if I have a PCGS-slabbed coin that I think is overgraded by a point?

    Whatever you do, DON"T offer it to Dorkkarl! image
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • Conder101Conder101 Posts: 10,536 ✭


    << <i>If they don't agree with the grade of the coin, they will do one of three things: get you a properly graded coin, pay you for the current value, or pay you the difference between the original grade and the new grade and let you keep the coin. >>


    Since PCGS does not buy or sell coins, how do they go about getting you a replacement correctly graded coin?

  • PlacidPlacid Posts: 11,299 ✭✭✭


    << <i>Since PCGS does not buy or sell coins, how do they go about getting you a replacement correctly graded coin? >>



    I think they see if dhrc has one.
    Maybe they see if one in for grading matches and just swap them image
  • CarlWohlforthCarlWohlforth Posts: 11,074 ✭
    A 1 point overgrade might or might not get downgraded. I sent in a coin I felt was overgraded by 3 or 4 points last October. It is still sitting there. I think these grade reviews take even longer than economy gradings image
    Carl's Coins website w/ links to Carl's auctions
  • BillJonesBillJones Posts: 33,864 ✭✭✭✭✭


    << <i>A 1 point overgrade might or might not get downgraded. I sent in a coin I felt was overgraded by 3 or 4 points last October. It is still sitting there. I think these grade reviews take even longer than economy gradings image >>



    Yea, and they have got to be about as popular at PCGS as a skunk in a church. imageimage
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • coinguy1coinguy1 Posts: 13,484 ✭✭✭
    Dan, the proper procedure in such a case is to use the "Guarantee Resubmission" option. That is different from the "Regrade" option one should use if he thinks a coin has been under-graded and wishes to resubmit it for upgrade in the current holder.

    The charge for "Guarantee Resubmission" is $25, but, it is refunded/credited if PCGS agrees with you that the coin was over-graded.

    If the grade is lowered, the owner is typically given an option of receiving "fair market value" for his coin or receiving the coin back in the new lower grade holder and some financial compensation, to make up for the difference in value between the old and the new grade.
  • dan1ecudan1ecu Posts: 1,573
    Hi, All -

    I appreciate the comments! I don't suppose there are too many mistakes by PCGS as far as overgrading is concerned, but it's good that they do something about it when it happens.

    Dan
    Dan McInnes

    mcinnes@mailclerk.ecok.edu">dmcinnes@mailclerk.ecok.edu
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    hey Dan

    here's a picture of the in residence "Guarantee Re-Submission" queen!!! from personal experience, the process works if you go about it correctly. simply call customer service and explain to them that you have a PCGS holdered coin which you believe to be overgraded and you'd like to have them look at it. they will most likely instruct you how to fill out the form with the addition on the submission line that you believe the coin has been overgraded and they may even give you an "attention _____" to get it done quicker. my process went rather smoothly and is well documented in threads if you can find them in a search. i was given the regraded coin and a check to make up the difference in FMV.

    al h.image

    image

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