resubmitting an MS70RD for secure plus...possible??

ambro51 · February 23, 2011 10:20PM

I have one of the few MS70RDs, this is a 2006 lincoln, satin finish pcgs ms70RD.

What are the chances, and IS IT POSSIBLE...to resubmit under secure plus and have it come back in a new secure plus holder, **and retain the MS70RD grade? or will it be redesignated SP, or will it be downgraded........(can they DO that?) ?????????

llafoe · February 23, 2011 10:31PM

Secure Plus is the only option that will downgrade a PCGS coin (well, I guess spot review could too).

The question is... do you want the coin to be graded accurately, or do you want it to retain it's inflated grade (if it's actually overgraded)?

Edited to add: I'm sending in all our coins via the Collectors Club free vouchers to be regraded and slabbed in Secure Plus holders. I want to ensure the coins are graded properly (and haven't been doctored).

LindeDad · February 23, 2011 10:51PM

It will also be a SP grade when it returns as that is now the designator for the Satin Finish coins.

Manorcourtman · February 23, 2011 10:59PM

I would be afraid to ever disturb such a coin! With copper being so reactive having someone touch it again could set off a reaction and ruin it! Just sayin....

DonWillis · February 24, 2011 4:03AM

Secure Plus is the only option that will downgrade a PCGS coin (well, I guess spot review could too).

NOT TRUE.

Secure Plus has nothing to do with downgrades or upgrades. It is simply a submission level just like Standard submissions.

Any coin that is submitted to PCGS for regrading, or reholdering, as either a Secure Plus or Standard submission is reviewed for grade.

Once a coin is in a PCGS holder we guarantee that the grade will not go down. If for some reason we determine that a coin no longer warrants the grade we will offer to buy it back. This very rarely ever happens on submissions but this is just one aspect of the PCGS guarantee. Our guarantte applies whenever we see a coin that we don't believe warrants the holder it is in. That means buying coins out of auction, from dealers and collectors, or from submitters.

magikbilly · February 24, 2011 4:12AM

Can it come back RED? I don't think so. Nobody spoke to that as far as I can read, but maybe I need new glasses.

Eric

MsMorrisine · February 24, 2011 4:17AM

If you had the color guarantee before, I'd ask if you'd lose that with a regrade.

crazyhounddog · February 24, 2011 4:17AM

If I'm not mistaking, I think PCGS will gaurantee their grades, but as far as the "red" part of the deal, I'm not so sure. But I'm sure they would not crack this coin out, unless it will grade MS-70 red...

airplanenut · February 24, 2011 4:30AM

<< But I'm sure they would not crack this coin out, unless it will grade MS-70 red... >>

Any coin sent back to PCGS gets cracked out and assessed raw. As for the grade part, read Don's post.

magikbilly · February 24, 2011 4:43AM

Hi,

Perhaps it can come back RD but it is not guaranteed (this is getting like autographs). I don't recall because with no guarantee anymore (if memory serves) I'd rather pursue, if I was going after Red, OGH's.

Best,
Eric

magikbilly · February 24, 2011 5:00AM

Hi,

According to Illini420 - "...you don't lose the guaranty as [if] you're still the owner of the coin and you've owned it since before PCGS unilaterally changed the rules regarding their guarantee of copper." - if that is out of date I can't say.

Best,
Eric

vann · February 24, 2011 5:51AM

I think it's a good idea that would add to the value of the coin. It assures that the coin has not been messed with and documents the coin's surfaces into PCGS's database in the event of a future grade guarantee claim or if the coin is ever lost or stolen and resubmitted. I would also get a Trueview of the coin if you decide to have it regraded. The PCGS copper color guarantee only covers coins PCGS graded copper coins graded or sold before January 1, 2010. In addition, item 54 of the Secure Plus FAQ states:

<< 54. Q: Now that the PCGS Secure Plus service is finally available here in 2010, does that mean that if copper collectors wish to use the service, must they submit their coins for "Regrade," and in so doing terminate their current PCGS grading guarantees as to the red or red-brown color of their coins? Or has PCGS already thought of this and worked out a program (perhaps a limited-time program, for a transitional period) for copper collectors under which they may submit coins already in PCGS holders for Regrade while maintaining the guarantee?

DW: Excellent question. It is not our intention to void a copper warranty if a coin that already qualifies is submitted for regrade under Secure Plus. We'll have to come up with a solution. We will. Thanks for pointing that out. Btw, I've already seen some really nice early copper that "plused". >>

So you may want to inquire what the status of the copper guarantee for regraded coins into Secure Plus holders is.

llafoe · February 24, 2011 6:23AM

<< Secure Plus is the only option that will downgrade a PCGS coin (well, I guess spot review could too).

NOT TRUE.

Secure Plus has nothing to do with downgrades or upgrades. It is simply a submission level just like Standard submissions.

Any coin that is submitted to PCGS for regrading, or reholdering, as either a Secure Plus or Standard submission is reviewed for grade.

Once a coin is in a PCGS holder we guarantee that the grade will not go down. If for some reason we determine that a coin no longer warrants the grade we will offer to buy it back. This very rarely ever happens on submissions but this is just one aspect of the PCGS guarantee. Our guarantte applies whenever we see a coin that we don't believe warrants the holder it is in. That means buying coins out of auction, from dealers and collectors, or from submitters. >>

This is what confused me... when addressing Secure Plus, you imply that the coin can be downgraded. When addressing Regrade (regular submission), you guarantee the coins will not be downgraded. The way both of these are written, one implies that it would NEVER be downgraded while the other implies a more thorough review and an offer of a buyback should the coin be downgraded. If a Regrade is the same as a Spot Review, why offer different options? What's the difference between a Regrade and a Spot Review?

7. Q: Can a coin in a non-Secure Plus holder be put in one using the Reholder service?
DW: Yes, you can Reholder a coin in a regular PCGS holder into a PCGS Secure Plus holder. Note: when we do this we are very carefully examining the coins. If we do not think the coin deserves the grade it already has we will contact you re: a buyback.

Regrade: Use the "Regrade" service for coins previously graded by PCGS that you feel might be worthy of a higher grade. Submit the coins in the holder. We guarantee that the coins will not be downgraded.

vann · February 24, 2011 6:31AM

Like is says in the FAQ, regrade is a service that you can use for PCGS graded coins you thing might be worthy of a higher grade. It's a safer alternative to cracking the coin out and then sending the coin in for grading since you are guaranteed the coin won't go down in grade or come back in a genuine holder. Spot review is a service for coins that have developed spots or turned in the holder and you feel no longer qualify for the grade.

llafoe · February 24, 2011 6:33AM

<< Like is says in the FAQ, regrade is a service that you can use for PCGS graded coins you thing might be worthy of a higher grade. It's a safer alternative to cracking the coin out and then sending the coin in for grading since you are guaranteed the coin won't go down in grade or come back in a genuine holder. Spot review is a service for coins that have developed spots or turned in the holder and you feel no longer qualify for the grade. >>

Is Spot Review free? If not, then it should/would be handled as a Regrade?

ambro51 · February 24, 2011 6:35AM

My worry is that I feel the "70" grade is 'closed' as far copper and pcgs is concerned.

Is it in their interest to buy back any 70? regardless?

please understand this question is more hypothetical than actual.......

llafoe · February 24, 2011 6:38AM

I believe a 70 HAS to be RD... so if it has 5% brown, then it can't be a 70. It's modern and there are a lot of PR70RD modern cents, so a SP70RD doesn't seem too far fetched. If it's a 70, I don't think PCGS would have an issue slabbing it in a Secure Plus holder?

vann · February 24, 2011 6:39AM

<< 

<< Like is says in the FAQ, regrade is a service that you can use for PCGS graded coins you thing might be worthy of a higher grade. It's a safer alternative to cracking the coin out and then sending the coin in for grading since you are guaranteed the coin won't go down in grade or come back in a genuine holder. Spot review is a service for coins that have developed spots or turned in the holder and you feel no longer qualify for the grade. >>

Is Spot Review free? If not, then it should/would be handled as a Regrade? >>

Last time I used spot review I only paid the shipping to PCGS and return shipping. I believe now you have to pay the $8 handling fee as well. Regrade is not the same because with a spot review you are making a claim against the grade guarantee (you have to state what is wrong with the coin on the submission form) which doesn't cover coins that you feel are undergraded.

resubmitting an MS70RD for secure plus...possible??

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