Hypothetical.......................

NoGvmnt

This is a hypothetical question, to the best of my knowledge it has not happened in real life (hows that for covering my ass?):


Lets say you submit a high grade, rare, potentially very expensive coin to one of the top 2 or 3 services for grading and while removing the coin from the flip it rolls off the graders desk and hits the floor with a great big PINGGGggggggg!

Upon picking the coin off of the floor and inspecting same, the grader discovers a huge rim ding.

Now, lets say that it is a given that the service accepts responsibility for the faux paux and offers to reimburse the submitter for the full market value of the coin.

My question is, would you accept that the service would now accurately grade the coin so that you would receive the true value of the coin or would you now be suspicious of the services ability to maintain an impartial position towards its grading responsibility?

And, if you would question the services ability to maintain an impartial position, would you allow another service to arbitrate the grade?

Jim

JrGMan2004

I'd be pissed... imagine that this is an awesome coin that has the perfect look and has taken months or years of searching to find... I'd be plenty upset... only way I'd be marginally less upset, is if they gave me significantly more money than what I paid...

ealandg

I would say it would depend on who the grading service was. If it were one of the "big 3", I would trust their grade. If it were not, I wouldn't. I would also add that I would even wonder if one of the "non-big 3" would tell me about the incident...

darktone

I would think coins being damaged while in the possesion of the grading services is not very common but I am sure it happens on a routine basis... 1-5,000 odds( just a guess). I would think that major damage is worked out with the submitter right away but I would not be surprised if minor damage is kept under wraps. mike

4thStooge

Actually had a similar incident happen to me.
A beautiful and glowin hi grade red/brown large cent got nicked-up at a 'top tier' grading service. I watched as the coin was packaged and no, it wasn't his/mine/usps fault. The problem was easy to recognize when it got back as the color (new cent orange tone) in the recesses of the fresh damage didn't match the rest of the coin
The submitter gave me a substantial cash settlement asking me not to contact the service because he feared a screwing on future submissions.
I've also gotten a hi grade gold coin back from a 'top tier' service with a clump of greasey dirt in the holder.
If they did it to the wrong person, they would make it right or pay for it over & over in court costs.

NoGvmnt

So far nobody has addressed the issue, maybe I did not present it correctly.

JrG,

It is a "given" that the grading service will reimburse you for the market value of the coin,


Ealandg,

It is a "given" that the grading service is one of the "Big Three",


Darktone,

It is a "given" that the grading service accepts responsibility for the damage (so there is no issue of whether they claim that the damage was already on the coin),

The issue is, would you feel comfortable (could you live with) allowing the grading service that caused the damage to set the grade that would now determine the value of your now damaged coin knowing that even a single point undergrade would significantly reduce your compensation?

Jim

Placid

If the grading service called me and told me that I would probably trust them.
If they were going to try to screw me they would not bother saying anything about the damage and claim it was like that when it arrived.

ealandg

Yes. If I didn't trust them on some level, I wouldn't be sending them my coins.

Goldfinger

I think one of the big three would grade the coin accurately. Since it's a given that the service is accepting responsibility for the damage, they would not want to turn a small problem into a larger one. That's just good business.

nwcs

I would always be suspicious which is why the company would need to be a bit generous with me. If what they offer in compensation jives with what I think the coin is worth then I'd be OK with it and move on.

nankraut

Placid said: "If the grading service called me and told me that I would probably trust them.
If they were going to try to screw me they would not bother saying anything about the damage and claim it was like that when it arrived."Text I agree.

kranky

I would figure that they could have lied about the rim ding and no one could ever prove it. If they lied about the grade, that could be (within a point or so) determined by others who view the coin. So I would believe they'd be honest about the grade (the factor that could be disputed with others) since they were honest about the rim ding (the factor that they could have gotten away with lying about).