PCGS Policy on Puttied Coins

liefgold

What is the current procedure when a puttied gold coin is submitted under a Guarantee Resubmission. I assume they remove the putty and if it is over graded make a settlement. But what happens if they say the grade remains the same? Refund submission cost? Refund shipping? I hope the heck they don't charge to remove the putty they missed!
I know ATS they refund submission and shipping.

MICHAELDIXON

Direct from their guarantee:

If the grade determined under such "Guarantee Resubmission" procedures is lower than the grade originally assigned to the coin, or if the coin is found to be misattributed or non-authentic, PCGS shall pay the current market value for the coin in question at the originally assigned grade, or at the owner of the coin's option, the difference between the current market value for the coin in question at the newly established grade and the current market value of the coin in question at the grade originally assigned. PCGS will also refund the regrading fee and postage and insurance costs incurred by the coin owner in sending the coin to PCGS. IT IS UNDERSTOOD THAT PCGS WILL BE THE SOLE DETERMINER OF THE CURRENT MARKET VALUE OF THE COIN AND THAT CURRENT MARKET VALUE IS DEFINED AS DEALER REPLACEMENT VALUE, I.E. THE PRICE A DEALER WOULD MOST LIKELY HAVE TO PAY TO REPLACE THE COIN.

TopographicOceans

I'm pretty sure they are against it

liefgold

Still have not answered what happens if the grade does not change. Is the putty removed and coin reholdered for no charge?

lkeigwin

My guess is that PCGS will make the process cost-free, should there be something like putty that has to be removed but the coin will grade the same.



If it's really important then you should call or email PCGS, in advance.

Lance.

illini420

Originally posted by: liefgold
Still have not answered what happens if the grade does not change. Is the putty removed and coin reholdered for no charge?

In the past, I have had this very situation where PCGS has fixed a coin, then regraded it at the same grade and in those cases was NOT refunded the money for the guarantee resubmission or shipping. But you're not paying for them to conserve the coin either and you get the coin back at the same grade. Haven't had this happen in awhile, so if you think that would be a problem you should confirm with them.