PCGS Collectors Club Submission Voucher question

STONE · June 7, 2011 5:20AM

Yes, I know I can call Customer Service, but I decided to post this here to inform others.

The maximum value allowable for a coin submitted with your Collector's Club vouchers is $3,000.

Say you have a coin (from your 8 coin submission) which is valued at $2,000 in one grade and $4,000 or $5,000 in the next grade.
You are confident the coin could grade either way (thus a conundrum).

So if PCGS grades the coin at the higher grade ($4k/5k), what will happen?
1) Will they charge me the difference of the next higher service tier which encompasses that coins value?
2) Let it slide and hope that it doesn't happen again?
3) Other?

drwstr123 · June 7, 2011 5:22AM

Split the profit with ya???

19Lyds · June 7, 2011 5:28AM

I suppose that if it graded at the higher level they "may" call you but unless you consistently submit coins which grade beyond the submission level, I don;t think there will be any problems at all. It is, after all, your grade estimate against theirs.

In other words, once or twice is forgivable but consistently doing this would not be and you would be notified and then charged accordingly.

notwilight · June 7, 2011 5:29AM

The ammount you declare the value is what they insure it for when they ship it back. If they lose it, the declared value would be taken into consideration.

Other than that, I think they just look for you to be reasonable and not declare a $30,000 coin to be 3,000.

If I had a coin that split the limit like you describe, I wouldn't hesitate to send it in.

--Jerry

llafoe · June 7, 2011 5:29AM

The value you submit is YOUR value, not PCGSs value... it's what YOU want to insure your coin for while it's out of your possession. Now if you submit a $500,000 coin with a value of $2,999... PCGS may question your value.

STONE · June 7, 2011 5:33AM

Thanks guys - so it's mostly about the insurance value THE SUBMITTER declares!?!

Stemming from this - say you have a coin which is worth about $5,000 in one grade and on the extremely
rare chance it grades higher is now worth $25,000. (Note the significant $20k difference in value).
You end up insuring the coin for the lower-grade $5,000 amount and the coin comes back in the higher grade.
*Would PCGS contact me about raising my insurance value?

llafoe · June 7, 2011 5:38AM

<< *Would PCGS contact me about raising my insurance value? >>

No, in that case they would replace your new $25,000 coin with an identical, but lower graded, $5,000 coin!

STONE · June 7, 2011 5:38AM

<< 

<< *Would PCGS contact me about raising my insurance value? >>

No, in that case they would replace your new $25,000 coin with an identical, but lower graded, $5,000 coin!

>>

You're a funny one Mr Lafoe!!!

19Lyds · June 7, 2011 5:47AM

<< Thanks guys - so it's mostly about the insurance value THE SUBMITTER declares!?!

Stemming from this - say you have a coin which is worth about $5,000 in one grade and on the extremely
rare chance it grades higher is now worth $25,000. (Note the significant $20k difference in value).
You end up insuring the coin for the lower-grade $5,000 amount and the coin comes back in the higher grade.
*Would PCGS contact me about raising my insurance value? >>

Possibly.

DIMEMAN · June 7, 2011 7:00AM

So, what have you got lately that is so valuable????

STONE · June 7, 2011 7:02AM

<< So, what have you got lately that is so valuable???? >>

All my coins are valuable Jon - I just want to pass you up in the Registry Set's

Bochiman · June 7, 2011 9:10AM

This has been posted a few times before. It was either Don, or HRH, that covered it and said that they understand that their opinion may differ from the submitter, and that, unless it is a common thing with that submitter, and happens often, they are not as concerned about a coin before that different in 1 grade or the other (ie...your scenario about the $2000 vs $4000+).

Now, if you submitted TDN's 1793cent and tried for the voucher level, I think that would set off alarm bells and they wouldn't agree

PCGS Collectors Club Submission Voucher question

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