Question about PCGS compensation....

ellewood

In early 2004, I purchased 12 PCGS PR69DCAM Lincolns from a seller on eBay (no need to mention his name now). Two of the Lincolns - one in the 80's and one in the 90's completely hazed over - front and back - about a month ago. I recently emailed the seller to ask him if any others in his "batch" have turned - or if he has heard from any other buyers, etc. He told me that he has "7 day" policy on coins (doesn't seem very long to me!)...but be that as it may....he did say that PCGS has a policy whereby the grade of your coin is sort of guaranteed?????????? Is there any truth to this??? I can probably replace these two coins for $30-$40...but I am wondering if I have any sort of recourse with PCGS? Your comments are appreciated....

Toby

wondercoin

PCGS does have a guaranteed regrade service (call Customer service for the details). I suspect those coins are easily replaceable for roughly $15-$20/coin. My hunch is, if the coins are as bad as you suggest, PCGS may simply swap them out for you with clean replacement coins.

Wondercoin

Russ

<< <i>How long do you expect a seller to guarantee a slabbed coin for? >>



I was just wondering the same thing myself. A 7 day return privilege is about average and quite adequate. Beyond that, the PCGS guarantee kicks in.

Russ, NCNE

sliderider

Why are you guys jumping down his throat for contacting the seller? He didn't say he wanted to return the coins, he just asked if any of the other coins the seller had were starting to haze to verify his problem was not unique. PCGS does guarantee grades, but I have been seeing a lot of complaints recently about just this sort of thing. Coins coming back either hazed or they haze a short time later. Fingerprints on coins is a common complaint these days, as well. I don't hear any such complaints over at the NGC forums. I think I'll be sending my submissions over there until PCGS hires a few graders who aren't so hamfisted.

ellewood

Thanks for your replies. For the record, I have been building my registry set for less than a year now and I'll be the first to admit that I have ALOT to learn about coins. This being said, this is the FIRST time coins have hazed over on me AFTER being purchased in a PCGS holder. Frankly, I did not know what an "adequate" amount of time was for a seller to guarantee a coin. Now I know. I never implied that I expected the seller to reimburse me for the coin. I will contact PCGS and see what they can do for me. If they can't do anything....then I'll have to suck it up and replace them. We're talking about a 78-S and an 83-S in 69DCAM. They certainly won't break the bank!! For those of you who have been in coins for a long time, please remember that some of us are "newbies". We count on people like you to enlighten us with info. Have a great weekend everyone...

T

littlejohn

intercept shields

tgilliams

his idea of the length is what is bothirg some members. if a coin turns after a week or two, the buyer is responsible for contacting the TPG service. copper is very delicate, and most overgrades are resulting from the coin turning.