If you send in for SecurePlus and they downgrade or genuine, does that invoke grade guarantee?

canadanz · June 5, 2011 2:04AM

And if so, do they automatically invoke the guarantee or do you have to wait for your grades and then initiate the guarantee process?

DonWillis · June 5, 2011 2:57AM

PCGS is always looking for any coin that we have encapsualted that for whatever reason now falls short of our standards. We make every attempt to take that coin off the market.

This includes coins we see in auction, on the bourse floor, or any coin sent in for any service - Regular, or Secure Plus, or "Other".

Of course every coin encapsulated by PCGS is covered by our Guarantee. The best guarantee in the industry.

Lets keep this in perspective. There are millions of coins out there in our holders. What you are asking about happens to a very, very few coins.

Statistics are published on our website at STATISTICS

canadanz · June 5, 2011 3:00AM

<< PCGS is always looking for any coin that we have encapsualted that for whatever reason now falls short of our standards. We make every attempt to take that coin off the market.

This includes coins we see in auction, on the bourse floor, or any coin sent in for any service - Regular, or Secure Plus, or "Other".

Of course every coin encapsulated by PCGS is covered by our Guarantee. The best guarantee in the industry.

Lets keep this in perspective. There are millions of coins out there in our holders. What you are asking about happens to a very, very few coins.

Statistics are published on our website at STATISTICS >>

Thanks Don. It was purely a hypothetical. Thanks for clearing it up

crypto79 · June 5, 2011 3:05AM

I had never stumbled across the statistics page before on their website. Very transparent resource that is commendable

airplanenut · June 5, 2011 3:10AM

Don, that stats page is impressive. Any chance that the questionable authenticity line could be broken out to show a few of the most commonly counterfeited pieces (1916-Ds, 1909-S VDB, etc) separately? That's simply a matter of my own curiosity as to what tends to get sent in that's no good.

Kove · June 5, 2011 3:10AM

I had seen the statistics page before, but missed the "warranty claims" information nestled in there.

Only $77k in the last month is a very low number! I'm impressed. Having this information out there definitely builds confidence.

DonWillis · June 5, 2011 3:37AM

BTW - most of the warranty claims listed on the Statistics page come through the "Other" service submission.

I assume that everyone knows that if your PCGS coin develops a milk spot, a carbon spot, unnatural toning, or something of that nature, you can submit the coin under the Other service and simply write in "Spot Review". This service is free.

Also, if you believe your PCGS graded coin is overgraded you can send the coin in under the Other service and simply write in "Grade Review". This service costs $25.

Wingsrule · June 5, 2011 5:22AM

As a CC member and a shareholder, I find that page very informative. Thank you.

How often is it updated? Daily / Weekly / Monthly?

penny4yourthoughts · June 5, 2011 5:29AM

coinman23885 · June 5, 2011 7:30AM

<< PCGS is always looking for any coin that we have encapsualted that for whatever reason now falls short of our standards. We make every attempt to take that coin off the market.

This includes coins we see in auction, on the bourse floor, or any coin sent in for any service - Regular, or Secure Plus, or "Other".

Of course every coin encapsulated by PCGS is covered by our Guarantee. The best guarantee in the industry.

Lets keep this in perspective. There are millions of coins out there in our holders. What you are asking about happens to a very, very few coins.

Statistics are published on our website at STATISTICS >>

So does the data represent actual payouts or just claims (i.e. instances where there may not have been anything wrong to start with)?

Coins911 · June 5, 2011 7:37AM

<< BTW - most of the warranty claims listed on the Statistics page come through the "Other" service submission.

I assume that everyone knows that if your PCGS coin develops a milk spot, a carbon spot, unnatural toning, or something of that nature, you can submit the coin under the Other service and simply write in "Spot Review". This service is free.

Also, if you believe your PCGS graded coin is overgraded you can send the coin in under the Other service and simply write in "Grade Review". This service costs $25. >>

What is the difference between a grade review and a regrade?

dbcoin · June 5, 2011 9:47AM

<< As a CC member and a shareholder, I find that page very informative. Thank you.

How often is it updated? Daily / Weekly / Monthly? >>

Every day, before lunch on the East Coast

DonWillis · June 5, 2011 9:49AM

The Statistics page is updated every Monday.

scottgardener · June 5, 2011 1:16PM

I can confirm by experience that the guarantee is invoked automatically when the coin downgrades / fails to grade. Last year, the Collector's Club quarterly special was for one free submission for Secure Plus grading. I sent in a 1907 $2.50 in MS63 for a regrade, hoping for an MS63+ or even a 64, but they sent me an email indicating that it had downgraded. I could have it returned ungraded, with a check for $600, or they could keep the coin, and I could receive a check for a full $1000. (Note that the coin would have been "body-bagged"; coins sent in under Secure Plus that fail to grade do not get holdered Genuine.) I opted for the latter, disappointed that my coin did not upgrade and that my own grading skills must need improvement as well. But, I was also impressed that PCGS was so much committed to reputation as to invoke their guarantee when they could have easily sent me the coin regraded MS63 without my ever having known. My wife was also very impressed and became a firm advocate for PCGS as a coin grading service ever since.

The urban legend of the Rolls Royce repair service comes to mind.

KeyLargoRareCoins · June 5, 2011 1:48PM

<< PCGS is always looking for any coin that we have encapsualted that for whatever reason now falls short of our standards. We make every attempt to take that coin off the market.

This includes coins we see in auction, on the bourse floor, or any coin sent in for any service - Regular, or Secure Plus, or "Other".

Of course every coin encapsulated by PCGS is covered by our Guarantee. The best guarantee in the industry.

Lets keep this in perspective. There are millions of coins out there in our holders. What you are asking about happens to a very, very few coins.

Statistics are published on our website at STATISTICS >>

Well said,

I was unaware of the statistics page and that this type of information was posted, looks like I learn something new every day.

If you send in for SecurePlus and they downgrade or genuine, does that invoke grade guarantee?

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