If PCGS flat out loses the case...

ecichlid

If PCGS flat out loses the case, what would be the end result?

Wolf359

They've already won by naming who the coin doctors are. If they lose, the docs have been named and outed. Their business is ruined.

Elcontador

If PCGS loses its suit, I don't think numismatics would be any worse than it was pre-lawsuit. Anyone who buys four figure or more expensive coins is -- or should be -- aware of coin doctoring issues, what to look for, which dealers should be avoided, etc. In OP's scenario, coin doctors could continue to ply their trade.

If they get lucky, their work will be slabbed, sold, and they'll make money. If the coin goes bad later, the TPGs would be on the hook to reimburse the unlucky holder of such coin. The coin doctor walks away. If the doctoring attempt is not successful, the coin in question doesn't get holdered.

Ie., nothing would change. If the TPGs get stuck with too many bad coins, their guarantees will become more restrictive. We are already seeing this with RD copper. We are also seeing toned coins which if ithey aren't universally accepted as being NT, are being bagged.

ricko

ElContador summed it up perfectly.... I agree..... Cheers, RickO

Sonorandesertrat

I also agree with ElContador. The major coin doctors are widely known within the dealer community, and there are dealers who do work with the docs for a cut of the profits.
If the docs win, it will be business as usual.

DenverDave

<< <i>They've already won by naming who the coin doctors are. If they lose, the docs have been named and outed. Their business is ruined. >>



Maybe I missed it but how many people are named in the suit and have their names been released...?

johnny9434

dumb question - have the coin doctors been posted here or can they not do that? providing the case has been settled of course

habaraca

<<<Maybe I missed it but how many people are named in the suit and have their names been released...?>>>

Yes Inquiring minds want to know

coinguy1

<< <i>I thought the names were not released in the lawsuit? >>

Read the complaint again, then.

TwoSides2aCoin

John Doe is yet to be named, but he's a doctor.

DenverDave

<< <i>

<< <i>I thought the names were not released in the lawsuit? >>

Read the complaint again, then. >>



Guess I missed that as well, got a link...?

Type2

<< <i>They've already won by naming who the coin doctors are. If they lose, the docs have been named and outed. Their business is ruined. >>

But if P.C.G.S loses. I can see a counter suit for all the dealers that are involved. it's going to be a big mess.

coinguy1

<< <i>

<< <i>

<< <i>I thought the names were not released in the lawsuit? >>

Read the complaint again, then. >>



Guess I missed that as well, got a link...? >>

From coinlink.com: see here

relicsncoins

I just read the entire complaint with the list of example coins that have been doctored. Sounds like most of it was laser and putty work. Gold coins and Stading Quarters accounted for most of the examples. It sounds like putty was used to cover up surface imperfections on gold coins and some how heads were built up on Standing Quarters to give them a full head designation.

DenverDave

Thanks Mark...

A good read, very crafty naming 10 unknowns...

I'm sure they will not have a problem proving damages against the 6 named..

They probably have compiling evidence where only 60/40 ( or so ) evidence is needed...

The other 10 to be announced will be interesting...

truthteller

<< <i>I just read the entire complaint with the list of example coins that have been doctored. Sounds like most of it was laser and putty work. Gold coins and Stading Quarters accounted for most of the examples. It sounds like putty was used to cover up surface imperfections on gold coins and some how heads were built up on Standing Quarters to give them a full head designation. >>




Movement of metal is probably the most egregious of all coin doctoring and the intent can merge into counterfeiting. PCGS is probably wise to go that route first.



TRUTH