Kudo's To NGC (& Specifically To Rick Montgomery) For Standing Behind A Misattributed Coin.
RBinTex
Posts: 4,328 ✭
I bought the coin below from huckstoys on eBay back in January for $475 (a rip if it crossed to PCGS at the same grade & a good deal if only MS65). I stupidly didn't verify the attribution. I never really had a reason to doubt that the seller AND NGC blew it (yes, that's MY mistake of naivete').
So I sent it to PCGS with an MS65 minimum specified. They sent it back ungraded without explanation (after over 3 months). Didn't wanna waste another few months finding out why they didn't think it was at least MS65 (still the reason I thought a no grade).
Put it on eBay. Sold on a no reserve auction for about $275 (ouch). Buyer said he wanted to return it because it wasn't the right variety. I said no problem. Issued prompt refund. FINALLY verified the variety. NOT FS-018.97 but another DDO with actual doubling on the 3 (FS-018.97 has none - just extreme extra thickness).
Contacted the original seller (to me) and explained the problem. He said he submitted a bunch to NGC himself, some came back with the FS-018.97 desig. & some didn't. Refused to tell me point blank if he ever verified them. Refused to tell me one way or another whether or not he knew it WASN'T "right" when he sold it to me. Refused to accept for refund. Told me it was NGC's mistake & to deal with them.
Huck's one of those REALLY honest coin dealers that stand behind their attributoins UNCONDITIONALLY & FOREVER - NOT!
fyi: YES, we DO stand behind OUR attributions unconditionally & forever - even if a TPG mistake (that we sold in error).
Contact Rick a few weeks ago (7/13). Explained things. He said to send him the coin & he'd look into it. Did so overnight. Got there 7/14. Checked up after 1 week there (7/21). He said he was having trouble getting in touch with Huck (he knows that Huck was in fact the original submitter). Could I help. Offered his eBay ID info, etc. Said OK.
Checked up after another week - 7/28. Got reply today - 7/31. Rick said he'll cut me a check for what I paid plus the shipping to him. Told him HUGE THANX but forget the shipping. He said he'll continue to pursue good ol' Huck.
All's well that ends well.
Lot's more could be said (one way or the other) about the entire process (i.e. getting a TPG to stand behind their attributions), but that is NOT my focus in THIS thread.
So I sent it to PCGS with an MS65 minimum specified. They sent it back ungraded without explanation (after over 3 months). Didn't wanna waste another few months finding out why they didn't think it was at least MS65 (still the reason I thought a no grade).
Put it on eBay. Sold on a no reserve auction for about $275 (ouch). Buyer said he wanted to return it because it wasn't the right variety. I said no problem. Issued prompt refund. FINALLY verified the variety. NOT FS-018.97 but another DDO with actual doubling on the 3 (FS-018.97 has none - just extreme extra thickness).
Contacted the original seller (to me) and explained the problem. He said he submitted a bunch to NGC himself, some came back with the FS-018.97 desig. & some didn't. Refused to tell me point blank if he ever verified them. Refused to tell me one way or another whether or not he knew it WASN'T "right" when he sold it to me. Refused to accept for refund. Told me it was NGC's mistake & to deal with them.
Huck's one of those REALLY honest coin dealers that stand behind their attributoins UNCONDITIONALLY & FOREVER - NOT!
fyi: YES, we DO stand behind OUR attributions unconditionally & forever - even if a TPG mistake (that we sold in error).
Contact Rick a few weeks ago (7/13). Explained things. He said to send him the coin & he'd look into it. Did so overnight. Got there 7/14. Checked up after 1 week there (7/21). He said he was having trouble getting in touch with Huck (he knows that Huck was in fact the original submitter). Could I help. Offered his eBay ID info, etc. Said OK.
Checked up after another week - 7/28. Got reply today - 7/31. Rick said he'll cut me a check for what I paid plus the shipping to him. Told him HUGE THANX but forget the shipping. He said he'll continue to pursue good ol' Huck.
All's well that ends well.
Lot's more could be said (one way or the other) about the entire process (i.e. getting a TPG to stand behind their attributions), but that is NOT my focus in THIS thread.
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Comments
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
I have always regarded NGC with great caution in the Morgan VAM area, as a few friends have told me they have bought VAM-attributed coins in NGC holders that were incorrectly attributed -- and when confronted NGC refused to take any responsibility whatsoever.
I am now encouraged that NGC may be changing its position in this area, which would be a benefit to all collectors.
If you submitted a raw 1969-S cent you pulled from a $2 roll to PCGS & they mistakenly mislabeled it as a doubled die & you then sold it without a return policy and someone wired you 50k for it, do you REALLY think you have NO culpability? Yes, this is an EXTREME example but you get the point. I think you'd have DEFINITE civil liability and a good chance at criminal liability as well.
Wondercoin
<< <i>It's too easy for the TPGs to buy into a submitter's suggested variety attribution. >>
Yes, it is.
Russ, NCNE
TorinoCobra71