NGC grades 70 for dent rim coin? is Normal?

smartdriver · October 9, 2016 6:23PM

I won a coin on eBay and was delayed shipping for a week for no reason til I ask where is my coin.
When it arrived, it had a dent on the rim, but still graded a 70 from NGC, is this normal for NGC to grade the coin and disregard the rim?

Initially, I was told I'll get a replacement, but received an email notifying me there's no replacement and if I want a refund or keep the same coin.
What would you do? Keep it or refund?
[/URL]">Monky 01

[/URL]">Monkey 02

smartdriver · October 9, 2016 6:25PM

Stork · October 9, 2016 10:45PM

Depends on what is more important to you. Are you collecting for a registry set and want maximum points and can you find a replacement for this coin from another seller?

If the points are important to you and you can't find a 70 elsewhere, then you might want to keep it.

Did you get a good enough price on the coin that the grade is irrelevant? If so you might want to keep it.

If you are collecting a perfect set of these, then that flaw will probably drive you crazy.

If you just wanted the perfect monkey fan, then that flaw will probably drive you crazy.

Personally, if I was shopping for 'perfect' then I would send the coin back. Seller should have either sold with disclosure of the problem but may not have looked past the label when selling.

Let the dealer/submitter get their $ back from the NGC guarantee. I have no doubt, with what appears to be in the picture, NGC would correct the problem. No process is perfect and it looks like one slipped past them.

--------

edited to add, didn't vote as the choices were a little too limiting (which sounds familiar this time of the election cycle). Don't know enough to say if the seller is shameful...s/he did offer a return and may not have noticed. As for keeping it because it will be hard to replace...well that depends on if you 'need' the 70 on the slab or have patience/$$. There are more gold monkey fan coins out there. In fact the NGC census in 70 is 164. Much higher than other issues so they may have gotten an enormous submission which could explain how this one slipped through.

Looking at the census #s I'd send it back. You will get a shot at another one someday.

Unless you are playing the registry game. Then keep it until you find a better one, then sell it with disclosure.

asheland · October 10, 2016 1:00AM

If that was in a PF69 holder, it wouldn't bother me, but in 70 that's unacceptable.
I'm not sure if I would send it back or not.

I got a 2016 silver panda in PCGS MS70 holder with a similar problem, but in the field which to me is even worse.
Plus a milk spot and chip on the plastic to boot!

I kept it, but kind of out of laziness.

Stork · October 10, 2016 2:38AM

Yep, but I'm guessing the price differential between the silver panda and gold monkey is a bit large

.

After I saw the pop report over at NGC I wouldn't keep the gold monkey even if I was chasing a plastic registry set. Too many 70s are in existence to keep something that probably cost north of $1500. If all I wanted was a set (and I paid 69 money--a bit over bullion) then it wouldn't bother me. If I wanted a perfect set then it would have to go.

At least the seller offered a return, which is why I didn't vote 'shameful'. Too strong a word if the guy/gal honors a no-problem return.

smartdriver · October 10, 2016 5:36AM

My winning bid is $598.88 but all the others that was sold from mcm ended similar in price. I'm not chasing points but I only buy pcgs 70 was to get perfect coin, but these Perth mint and sometimes pandas are hard to find in pcgs holders.

What really annoyed me is when I was searching for similar coins, there were none! But then mcm flooded auctions and so I should of been the first to get the coin in hand, but they must of forgot because I didn't get it tracking till I message them 4-5 days later. I really thought I was going to get label 001.

Stork · October 10, 2016 5:45AM

Ah, I thought it was an ounce. Must be smaller. Which makes sense as the silvers are 1 oz and the golds are meant to fit like a ring inside.

MCM has a reputation as a good seller...check their actual website and give them a call. Unless there has been a recent and drastic change, they WILL make you right.

brg5658 · October 10, 2016 6:19AM

A 70 grade doesn't mean "perfect" regardless if it is in NGC or PCGS plastic. Purchasing modern graded proof 70 coinage (or bullion) is a sure fire way to lose money. Just buy them raw or in indistinguishable 69 holder grades.

smartdriver · October 10, 2016 6:36AM

I've already bought server all coins from them and very pleased but this is a more limited quality coin that I bought which has disappointed me. I'm a bit hesitant to buy higher end coins now from them. MCM only offer refund or keep the coin. Will need to contact them to get refund. I bought this coin to celebrate the birth of my daughter. But now I have to return. I will still continue to buy from mom though.

Thanks for your feed back Stork and Ashland.

TwoKopeiki · October 10, 2016 9:38PM

I would send it back. Every time you'll look at this coin, you'll just see the rim ding.

asheland · October 12, 2016 8:05AM

You're welcome

NGC grades 70 for dent rim coin? is Normal?

Comments