The PCGS grade guarantee - what it means to collectors
FC57Coins
Posts: 9,140 ✭
I know we whine and moan a lot about slabbed coins that aren't graded properly and so forth. But in my mind, if you're a serious collector and you have coins whose values depend on accurate grading, you can't beat the fact that if the grade doesn't hold up, PCGS will stand by their guarantee. This is my example, and I'm sure we're going to hear a plethora of opposing arguments, but here it goes.
As a lot of you know, my specialty is Franklin halves. I like'em. During my travels I had run into two pieces, a 1951S in MS65FBL and a 1953D in MS66FBL (actually this one belonged to another board member). On the first piece, I had noticed that the bell lines, though barely barely present with some imagination, really weren't worthy of the designation. On the second piece, a toned beauty, when you looked at the piece, there were two scratches, that in my mind nullified the MS66FBL grade. After pondering these two pieces, looking at them time and time again, showing them to fellow collectors and dealers, I finally took the plunge and submitted both for the grade guarantee.
My expectations weren't lofty, as I had heard all the stories about coins being turned back with the same grade, and that supposedly if the designation was dropped then you were out of luck. Well, even though it took a while to get the coins back, both of them were downgraded. The 1951S went from MS65FBL to MS65, and the 1953D went from MS66FBL to MS65FBL. In both cases I was offered what I felt was a very competitive settlement on the difference between the grades.
So, my faith has been restored. It may not happen all the time, as grading is a subjective art, but in this case I was very pleased with the peace of mind that if any of my PCGS slabbed coins are questioned, that at least they'll get a fair shake from the company. That's my story and I'm stickin' to it
As a lot of you know, my specialty is Franklin halves. I like'em. During my travels I had run into two pieces, a 1951S in MS65FBL and a 1953D in MS66FBL (actually this one belonged to another board member). On the first piece, I had noticed that the bell lines, though barely barely present with some imagination, really weren't worthy of the designation. On the second piece, a toned beauty, when you looked at the piece, there were two scratches, that in my mind nullified the MS66FBL grade. After pondering these two pieces, looking at them time and time again, showing them to fellow collectors and dealers, I finally took the plunge and submitted both for the grade guarantee.
My expectations weren't lofty, as I had heard all the stories about coins being turned back with the same grade, and that supposedly if the designation was dropped then you were out of luck. Well, even though it took a while to get the coins back, both of them were downgraded. The 1951S went from MS65FBL to MS65, and the 1953D went from MS66FBL to MS65FBL. In both cases I was offered what I felt was a very competitive settlement on the difference between the grades.
So, my faith has been restored. It may not happen all the time, as grading is a subjective art, but in this case I was very pleased with the peace of mind that if any of my PCGS slabbed coins are questioned, that at least they'll get a fair shake from the company. That's my story and I'm stickin' to it
0
Comments
It took a while, but PCGS returned the coin in a new, lower grade holder along with a check for what I felt was a very fair difference in value. Yet another example of why collecting PCGS coins gives me the most confidence and peace of mind.