PCGS Spot Review results in for 14 of my 20th Ann ASE's :`(

jessewvu

Well, results are in

Here is a Link to my related post

Read the bottom of this post to find out why I am steaming mad...

Of the 14 coins I submitted, these are the ones they could save:

2006- W $1, cert #XXXX3450 - Saved - MS68 First Strike / MS68 First Strike
2006- W $1, cert # XXXX 3023 - Saved - MS69 / MS69
2006- W $1, cert # XXXX 3021 - Saved - MS69 / MS69
2006- W $1, cert # XXXX 3020 - Saved - PR69DCAM / PR69DCAM
2006- W $1, cert # XXXX 2667 - Saved - PR69DCAM / PR69DCAM

None of my reverse proof coins could be salvaged

2006- W $1, cert # XXXX3018, coin went from a MS69 to MS68
2006-W $, cert # XXXX2674, coin went from a MS69 to MS67
2006-W $1, Cert # XXXX3029, coin went from a PR70DC to PR69DC
2006-W $1, Cert # XXXX3017, coin went from a PR69Dc to PR68DC
2006-W $1, cert # XXXX2664, coin went from PR69DC to PR68DC
2006-W $1, cert # XXXX2666, coin went from PR69DC to PR68DC
2006-P $1, cert # XXXX3019, coin went from PR69 to PR68
2006-p $1, cert# XXXX2654, coin went from PR70 to PR69
2006-W $1, cert # XXXX2676, coin went from MS68 to MS67

Here is what really ticks me off. On the SAME exact day that this submission was received, I had another submission for 10 20th Ann MS69 coins for spot review entered into their system. My other submission was turned around in about two weeks and their "buy out" option per coin was $30 more than what they are offering now. I do not think it is fair that PCGS was able to reduce the value of my coins because they had them in their possession for an extended period of time.

Also, the prices they are offering me are about $50 less than what the PCGS price guide lists them at. I am concluding that PCGS does not even believe their price guide is accurate.

Does anyone have an idea on what my best option would be as far as taking the buy out or coin plus some $? I am going to buy a PR70DCAM on eBay to replace the one that was downgraded so I am going to take the buy out option on that coin.

I don't mean to blast PCGS here, they are trying to make it right by me... This has been a very very disapointing process for me that is for sure.


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edited to take out some of the $$ figures. I guess I didn't think it was fair to PCGS to list their buy back offer, because it could be case by case and I didn't want anyone getting upset about their offer if it is different than mine.

pcgs69

Sorry to hear about that...I'd probably just opt for the buyout option, unless you think you can get more for them on ebay, but it is worth the hassle?

LeeG

<< <i>Well, results are in
I do not think it is fair that PCGS was able to reduce the value of my coins because they had them in their possession for an extended period of time. >>


I agree. Send an email to coinking and HRH stating your case in a respectful manner and hope for the best.

Russ

<< <i>Also, the prices they are offering me are about $50 less than what the PCGS price guide lists them at. I am concluding that PCGS does not even believe their price guide is accurate. >>



If you research actual market values, you'll find that they are being generous. For example, they're offering about $150 more for your PR70 RP than they've been bringing.

Russ, NCNE

coinpictures

Then what the hell good is the PCGS price guide if PCGS *THEMSELVES* ignore the prices in it?

bluespaceant

OPA

<< <i>

<< <i>Also, the prices they are offering me are about $50 less than what the PCGS price guide lists them at. I am concluding that PCGS does not even believe their price guide is accurate. >>



If you research actual market values, you'll find that they are being generous. For example, they're offering about $150 more for your PR70 RP than they've been bringing.

Russ, NCNE >>





I've got a bunch of ASE 20th that I would like to sell to PCGS. The prices offered for all of his "spotted" ones, are more than what would be realized either on eBay or by a Dealer.

Russ

<< <i>Then what the hell good is the PCGS price guide if PCGS *THEMSELVES* ignore the prices in it? >>



PCGS has never used their price guide when determining payouts for grade guarantees. Like every price guide on the planet, it is not accurate in many cases.

Russ, NCNE

Doogy

<< <i>

<< <i>Then what the hell good is the PCGS price guide if PCGS *THEMSELVES* ignore the prices in it? >>



PCGS has never used their price guide when determining payouts for grade guarantees. Like every price guide on the planet, it is not accurate in many cases.

Russ, NCNE >>




maybe, but it is their fault it is not accurate. When they state that the prices listed in their guide are for PCGS graded coins, and then don't pay out that amount for their own holders, it shows ZERO credibility for even having the price guide at all.

7over8

One thing that would help in this conversation is ACTUAL REMEDIATION PAID per coin

Lets say a 06W PCGS FS MS69 downgraded to MS68, what did you receive for the coin on the avg.....? $30, $50, $????

Give some examples???

Then at least others can understand the policy and how it works and what it pays?

DenverDave

The PCGS Price Guide is just that, a Guide and not the Rule...

There are Series that are under valued on the PCGS Price Guide...

If you had one of those in for a Review, would you want Guide or Market...?

Market is the only fair way for both, it's not a Pleasant experience for both Parties...

I agree with others that PCGS has made you Whole...

One has to wonder the motive of someone that posts a private PCGS e-mail on the PCGS Boards...

wondercoin

"Also, the prices they are offering me are about $50 less than what the PCGS price guide lists them at."

The vast majority of my coins are sold back of the price guide - and far more than $50 for that matter. I think you did great!

Wondercoin

WarNickelHoarder

We all know that the PCGS price guide isn't 100% accurate, some prices are high, some are low, and some are right on. I do have one question though. Since PCGS has taken the time to research what these coins are actually bringing on the open market, why don't they adjust their price guide to reflect the current market price? I understand that it is simply impracticle to do this for all coins and series, but if they have already done all the work for a downgrade review, why not update the price guide?

Just a Thought

Tom

Casman

Man what a drag, that's a lotta spots, so far I've only had a few, luckily a FS 20th Ann MS68, and two others ASE's from 2000 that I won't go into detail with . I have several complete sets of Proof ASE's that I've been concerned about as I heard they all can get spots but so far it's just the ones in slabs...I'm not sure I want to keep that stuff anymore.

Texast

Too bad they don't have a replacement option...

Russ

<< <i>Since PCGS has taken the time to research what these coins are actually bringing on the open market, why don't they adjust their price guide to reflect the current market price? I understand that it is simply impracticle to do this for all coins and series, but if they have already done all the work for a downgrade review, why not update the price guide? >>



They may actually do that. My last downgrade submission was a 1962 PR68DCAM proof Washington. The price guide listed it at $325 when it went in. They paid out $250 on the coin, even though the last couple to sell had brought less than $150. Since then, they dropped the price guide value to $175.



<< <i>Too bad they don't have a replacement option... >>



They do when they can. The problem with the SAE's, though, is that they are getting so many it simply isn't practical to do that. Even if they went in to the market and bought the coins they might very well end up seeing them again.

Russ, NCNE

JimDepot

"Of the 14 coins I submitted, these are the ones they could save:"

Do you mean that they were able to remove some spots?

mach19

<< <i>One thing that would help in this conversation is ACTUAL REMEDIATION PAID per coin

Lets say a 06W PCGS FS MS69 downgraded to MS68, what did you receive for the coin on the avg.....? $30, $50, $????

Give some examples???

Then at least others can understand the policy and how it works and what it pays? >>

57loaded

some of my 20th ASE spot reviews are beginning to dribble back. one they have been able to 'fix".

the offer from PCGS IMHO has been extremely fair, i feel they "did me" right...even with the delay. i just wish it wouldn't take so long.

Jesse...send me a PM if you'd like about this thread.

DCW

<< <i>

<< <i>

<< <i>Then what the hell good is the PCGS price guide if PCGS *THEMSELVES* ignore the prices in it? >>



PCGS has never used their price guide when determining payouts for grade guarantees. Like every price guide on the planet, it is not accurate in many cases.

Russ, NCNE >>




maybe, but it is their fault it is not accurate. When they state that the prices listed in their guide are for PCGS graded coins, and then don't pay out that amount for their own holders, it shows ZERO credibility for even having the price guide at all. >>



aint that the truth