Do "bad" coins end up in slabs?? Any recourse?
majorbigtime
Posts: 2,937 ✭
From another post: PCGS surely makes mistakes from time to time. I often wonder how many "bad" (like in altered or counterfeit) coins end up slabbed by the good and bad grading services.
Ever read the small print in the PCGS guarantee?? Doesn't say a thing about recourse for fakes!!!!
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PCGS Guarantee of Grade & Authenticity
Customer Bill of Rights
The Guarantee of Grade & Authenticity is fundamental to PCGS's concept of third-party grading. The cash-back policy ensures the accuracy of the grade assigned to any PCGS coin as long as it remains in its tamper-evident holder. If a coin is believed to be improperly graded, and a discrepancy is found when resubmitted through PCGS's Downgrade Resubmission service, the guarantee entitles the coin's owner to options designed for his protection
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Do "bad" coins sometimes get slabbed? If so, what's your recourse??
Ever read the small print in the PCGS guarantee?? Doesn't say a thing about recourse for fakes!!!!
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PCGS Guarantee of Grade & Authenticity
Customer Bill of Rights
The Guarantee of Grade & Authenticity is fundamental to PCGS's concept of third-party grading. The cash-back policy ensures the accuracy of the grade assigned to any PCGS coin as long as it remains in its tamper-evident holder. If a coin is believed to be improperly graded, and a discrepancy is found when resubmitted through PCGS's Downgrade Resubmission service, the guarantee entitles the coin's owner to options designed for his protection
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Do "bad" coins sometimes get slabbed? If so, what's your recourse??
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Comments
<< <i>Do "bad" coins sometimes get slabbed? >>
Yes. Even a tiny few by the reputable services, I'd imagine.
<< <i>If so, what's your recourse?? >>
Don't buy or submit bad coins.
Of course bad coins end up in slabs. Many times the change indicating the doctoring occurs while in the slab. I am pretty sure HRH has said PCGS will make it right many times. I am sure PCGS would want to make a fake right ASAP. But you are right about the policy being not clear on the issue.
Of course bad coins get slabbed--it's just very, very infrequent that a counterfeit will make it past the good guys--they know what to look for, and for rarities, they look really hard. While the guarantee doesn't say "counterfeit" per se, it does mention improper grading... a graded counterfeit is graded improperly. That should cover it, and entitle the owner to a similar coin, or the coin's value.
Jeremy
Yes, but bad C-Notes don't!
The Guarantee of Grade & Authenticity is fundamental to PCGS's concept of third-party grading
Of course you have full recourse.
<< <i>[Of course you have full recourse. >>
Where's Waldo??
The guarantee specifies recourse for overgrading, but doesn't say diddly-squat about a fake!!! Technically, if the fake is properly graded, you're up a creek without a paddle!
<< <i>MBT, give me a break. PCGS even buys back counterfeit PCGS HOLDERS to preserve their name. The proper grade for a counterfeit is in a Bodybag saying "Not Genuine." If it's in a slab, it's misgraded, case closed. >>
MBT are you really serious ?
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You betcha!!
OK, let's see. So the owner gets paid the difference between the next grade per guarantee! No, that can't be right.
Hmmmmmmmm. Maybe the guarantee should simply say you get the value of a genuine coin in the grade assigned!
here we go !
You betcha!!
The Omega counterfeits were discovered by ANACS before any of the slabbing services were started.