The ANACS guaranty...

MrEureka

As most of us know, ANACS has had a number of changes of ownership and management. I'm wondering how that affects their guaranties, especially with respect to authenticity, problem coins and grading. For example, if you found yourself with a counterfeit or doctored coin with an old ANACS photo-certificate, would ANACS make you whole?

jdillane

The guarantees should remain in force unless the company is dissolved. When the company is sold to new owners, the assets and liabilities transfer to the new ownership.

FlyingEagle

<< <i>As most of us know, ANACS has had a number of changes of ownership and management. I'm wondering how that affects their guaranties, especially with respect to authenticity, problem coins and grading. For example, if you found yourself with a counterfeit or doctored coin with an old ANACS photo-certificate, would ANACS make you whole? >>



I'd suggest calling PCGS, NGC or ICG and ask them this question. I'd avoid calling ANACS @ (800) 888-1861 and asking them.

291fifth

About eight years ago I asked an ANACS rep about the grading guarantee as it regarded the certificate coins. He said they were not covered.

I'll bet the subject of this post would make an interesting legal case. Do the guarantees become the responsibility of the new owners? Has there ever been such a case?

tmcsr69

<< <i>

<< <i>As most of us know, ANACS has had a number of changes of ownership and management. I'm wondering how that affects their guaranties, especially with respect to authenticity, problem coins and grading. For example, if you found yourself with a counterfeit or doctored coin with an old ANACS photo-certificate, would ANACS make you whole? >>



I'd suggest calling PCGS, NGC or ICG and ask them this question. I'd avoid calling ANACS @ (800) 888-1861 and asking them. >>

Barndog

<< <i>About eight years ago I asked an ANACS rep about the grading guarantee as it regarded the certificate coins. He said they were not covered.

I'll bet the subject of this post would make an interesting legal case. Do the guarantees become the responsibility of the new owners? Has there ever been such a case? >>



I'd say so...how about Dow Chemical and breast implants?

astrorat

Interesting question, Andy (as usual). It would depend on whether or not the new owners assumed the service's liabilities with the buyout since it was part of the ANA and not a separate business entity (at least I assume it was not a separate business entity). Interestingly, those old photo negatives are not maintained by ANACS, but are still housed at the ANA.

Lane

MrEureka

Just an afterthought: Does ANACS even have a guaranty? Not that they wouldn't try to make a customer happy if there was a problem, but have they actually promised anything?

FlyingEagle

<< <i>Just an afterthought: Does ANACS even have a guaranty? Not that they wouldn't try to make a customer happy if there was a problem, but have they actually promised anything? >>




I just called PCGS to ask and they were rude and told me they are not ANACS. If that is how they treat their customers it is the last time I will submit to PCI.

It would be wonderful if ANACS had a web site with this information on it. Oh wait.....................


ANACS Guarantee (06/22/2007)

ANACS guarantees the grade and authenticity of the coins it certifies and encapsulates in an ANACS holder. Furthermore, ANACS guarantees that every coin submitted to it shall be certified by ANACS' grading experts in accordance with the ANACS grading standards, policies and procedures.

This Guarantee applies only to ANACS-graded platinum, gold and silver and excludes bronze, copper and copper nickel coins as these are delicate materials that are easily affected by environmental conditions. It also does not apply to the following: any coin in a damaged, unsealed or altered ANACS holder; any clerical error as to the description or grade of the coin; chop marks, countermarks or counterstamps and, any "problem coins" that carry a "detail" and/or a "net" grade, as these are guaranteed by ANACS for authenticity only.

In the event the owner of an ANACS-graded coin believes that there has been an error in the grading or authentication, the owner may resubmit the coin to ANACS for re-examination under a procedure which precludes the graders from being aware of the grade originally assigned. If the re-examination grade is lower than the grade originally assigned by ANACS, ANACS agrees, at our discretion, to either purchase the coin at fair market value or pay the owner of the coin the difference between the coin's fair market value at the re-examination grade and the fair market value at the grade originally assigned by ANACS. ANACS will be sole determiner for the current fair market value of the coin, based on reliable market research and the determination will be binding for all parties.

ANACS expertise is unmatched by any other Grading service in regards varieties and attributions. However, attribution specialists may disagree concerning any given variety or attribution. Also, some varieties are de-listed each year, and others have their variety numbers and/or descriptions changed or modified. Therefore ANACS cannot guarantee any attribution or variety designation listed on an ANACS holder. Should a customer have an ANACS encapsulated coin that has had its variety or attribution information changed or modified, it may be sent in for correction at a nominal fee.

Important: Verbal opinions given by ANACS Graders at shows are estimates only. Coins must be submitted to ANACS for official determination of authenticity or Grade. Verbal opinions are in no way guaranteed.

coinkat

MrEureka:

Creative spelling...

How do you spell guarantee?

MrEureka

MrEureka:

Creative spelling...


13287 posts and somebody finally caught me making a spelling mistake.

coinkat

we all have our creative spelling moments...

BECOKA

Ideally yes but in reality I would not be surprised by anything.

charley

Respectfully, I would not concur that"guaranty" is a spelling mistake, given the use in this instance.Without Malice, John C

coindeuce

They seem to think g-u-a-r-a-n-t-y is a correct spelling ATS.

wayneherndon

Traditionally guarantee was used in the context of consumer warranties or other assurances of quality or performance. Guaranty, on the other hand, was used primarily in financial and banking contexts as a promise of one person to answer for the debt of another person.

Practically speaking, guarantee and guaranty have been so frequently interchanged that even most dictionaries now assign both meanings to both terms. In contracts law, however, a guaranty must be in writing to be enforced. A guarantee on the other had need not be in writing. It can be oral or even implied. So, chat board posters can probably get away with switching the two and argue that either term is appropriate. For companies with guarantees or guarantys, the distinction between the terms is important.

WH

dorkkarl

i don't recall anacs having a grade guarantee during the time of the old photo cert's (which i liked very much btw)

K S