Interesting Hypothetical Question
MWallace
Posts: 4,197 ✭✭✭✭✭
You have a coin valued at approximately $50,000 in "TPG A's" holder. You send it to "TPG B" for crossover at the same grade. "TPG B" agrees with the grade and cracks it out to put in their holder. After cracking it out, they discover that it is a new, very deceptive, and previously unknown counterfeit. Both TPG guarantee their slabbed coins for grade and authenticity. Now what?
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<< <i>You have a coin valued at approximately $50,000 in "TPG A's" holder. You send it to "TPG B" for crossover at the same grade. "TPG B" agrees with the grade and cracks it out to put in their holder. After cracking it out, they discover that it is a new, very deceptive, and previously unknown counterfeit. Both TPG guarantee their slabbed coins for grade and authenticity. Now what? >>
A friend of mine went through something very similar, except his was found to have altered surface after being cracked out. Now the end all be if I remember right was tpg paid the difference in value between the value as it was originally holdered and its value now (about a 20k difference since it was still worth 20 or 25k). This took a LOT of back and forth and negotiating, as this is a very grey area and I can understand both parties feelings. I would think that since tpg b agreed and broke it out, it would be there deal unless the tip off for it being a counterfeit was on the edge, should foot the injured parties cost for the coin. They should be paid for the amount the coin owner paid or market value of the original tpg grade (whichever is lower) and not what he thought the coin was worth.
JMHO
how would TPG B be honoring any "grading policy guarantee" when they never GRADED it??? i put more of the culpability on TPG A in this scenerio
www.brunkauctions.com
<< <i>>>Looks to me like TPG B is going to have to honor their grading policy quarantee. If they had not cracked it out to put it in their holder, then TPG A would have to honor their guarantee>>
how would TPG B be honoring any "grading policy guarantee" when they never GRADED it??? i put more of the culpability on TPG A in this scenerio >>
They would have to honor it because they wouldn't crack it out unless they had already assigned a grade to that coin. As stated in the OP "TPG B" agrees with the grade and cracks it out to put in their holder."