Question Re: Heritage from new member

earlycoins

I recently purchased a 1999 NJ PCGS PR70 silver quarter from Heritage. When I inspected it upon arrival, I noted major problems around the edges of the reverse fields from approximate 0 - 160 degrees. I returned the coin with a note explaining its problems, but the PR70 is back up there again. Is it this company's MO to just place a coin back on line and wait for someone to bite who doesn't know what they're looking at? I'd hate to see some unsuspecting collector pick up a piece like this for a registry set or general investment, pay a high price, and not be able to sell it in the future. The coin in question is absolutely not a PR70. While I have no problem with Heritage, which gave a full refund, I'm questioning the propriety of listing what should be "technically perfect" coins, which isn't. Should a coin like this come out of the holder?

I guess the flip side of this situation is that I've received a number of superb coins from Mitch at Wondercoin, each more perfect and beautiful than described. Possibly I'm just getting spoiled. And no, I'm not working in marketing for WC.

wam98

Louis

Welcome to the boards .


You aren't the eBay seller earlycoins are you ?

tmot99

Remember that Heritage is a middle-man. They are contracted to sell coins from consigners. The only way to get it corrected is through PCGS grade guarantee.

Edited to add... Welcome

Shamika

<< <i>Is it this company's MO to just place a coin back on line and wait for someone to bite who doesn't know what they're looking at? >>


Didn't Russ have a thread concerning an MS67 Kennedy Half that was being sold by Heritage (coin should have been SMS instead) where they were doing something similar?

pharmer

The subjective grading of a proof is PCGS's issue, not Heritage's. The Kennedy was originally mis-labeled by PCGS, and Heritage did do something about it. Oh, welcome.

earlycoins

The "welcomes" as well as the responses are appreciated.

I considered sending the coin to PCGS for review, but was advised that the process would not be worth the
time or trouble involved.

Also, if PCGS agrees, and pulls the coin, I doubt that they'd feel responsble to remit the difference in value,
while Heritage had to accept the return, which to their credit, they did with no problem whatsoever. This is
certainly not a situation through which I would not return to Heritage and give them another try. They were
fine on all levels.

I must admit that the overall concept of a Proof 70 coin is something new to me. I'm much more in tune with
determining a proper grade through mint-made adjustment marks, something that I don't believe they've done
in well over a dozen years -- possibly even going further back than Franklin halfs.

I still feel badly that someone is going to end up with this piece, possibly in a registry set, as a PR70 -- which isn't.

BAJJERFAN

but the label says its a 70

Steve

Hi earlycoins, and welcome to the boards. IMHO any PR70 or MS70 graded by PCGS or NGC is subject to toning or changes inside the holder AFTER it has been graded. This is just natural and even thou the grading services say their holders prevent this from happening, it can still happen over time. The good thing is that they guarantee the grade. This is particularly good if the coin's distraction is evident to the naked eye. Obviously, if the value of the coin is less than $100 as a "70" it may not be worth the trouble to go thru the regrade process, but certainly PCGS and probably NGC will work with you to resolve the financial loss, again IMHO. Steve

RYK

I previously had a problem with a coin sold by Heritage that was mis-attributed by the TPG. They handled it promptly and professionally.

Everyone makes mistakes. How we handle our mistakes is how we earn our reputation.

mdwoods

I still feel badly that someone is going to end up with this piece, possibly in a registry set, as a PR70 -- which isn't.

Send it to PCGS for a grade review. Coins can turn inside holders. The coin was probably mishandled before submitting and the problems showed up afterwards.

Ah, I see you returned it to Heritage for a refund.

braddick

"earlycoins"... yet purchased a modern 1999 State quarter...

Interesting and mildly disturbing, yet perplexing at the same time.



PS: Welcome.

ColonialCoinUnion

<< <i>Is it this company's MO to just place a coin back on line and wait for someone to bite who doesn't know what they're looking at? >>



The answer is yes, in my experience. Isn't that a great policy?

zenny

<< <i>"earlycoins"... yet purchased a modern 1999 State quarter...

Interesting and mildly disturbing, yet perplexing at the same time.



PS: Welcome. >>








He likes early state quarters?

Coin Finder

Welcome earlycoins!

Pat, perhaps they mean freash from the mint! Or early from the mint.

UncleWiggly

<< <i>I previously had a problem with a coin sold by Heritage that was mis-attributed by the TPG. They handled it promptly and professionally.

Everyone makes mistakes. How we handle our mistakes is how we earn our reputation. >>



This is one of the best statements I've read about making mistakes and correcting them. Thank-you,



Jerry

wondercoin

Earlycoins: Welcome to the boards and thank you for the comments. Perhaps this may not be the proper thread to do so - but, on a separate thread, I would love to hear you describe in your own words why you, as a dedicated collector of very early date (and quite rare) US coins - the kind that may routinely cost you "6 figures" are also personally fascinated with the Proof State quarter series in top grade. Like Braddick, I was a bit curious myself I must confess. You are an extremely sophisticated classic coin collector - it would be interesting reading.

Wondercoin

fcloud

Welcome to the boards.

I would think sending back to PCGS is the best option. They can remove it from the holder and take it off the POP reports. And from what I have heard, they will either offer to replace it or refund the value.

nwcs

Welcome to the forum and please continue to participate.

Depending on the issue, PCGS may do what's right with regard to price. If it achieves even a part of the infamy of that 1963 pr70dcam they probably would. But it is a shame that something probably won't be done to make sure that the coin is tagged with the right grade.

Baley

put me in the "confused" category, too.

name: earlycoins
icon: an early coin
buying: high grade moderns