An Overgraded Coin Found In A PCGS Slab - Remedy Ref Dealer &/Or PCGS

So I'll try my best to answer this.

I work for Bonanza Coins, a shop in silver spring, MD. We currently have around 11k slabs on hand, that's quite a few. Given the number of coins we have slabbed we are obviously going to encounter overgraded and borderline coins. I like to believe we price fairly, and tend to price on the coin rather then the label, and if the buyer disagrees, let them return it. That being said, there have been cases where after 30 days (our return window), people will say they now disagree with the grade and want their money back. At that point then we send them to the respective TPG. PCGS and NGC will pay the difference if a coin is overgraded. For example, if a MS-64 costs $40 and a 65 costs $200 and you send them a 65 of theirs back and they downgrade it they would give you $160 basically, but only as long as you can prove you paid $200.

I'm under the impression the grader is unaware of the original grade if it is re-submitted.

One caveat to that, they won't necessarily pay you the difference between the $40 and the $200 even if you can prove you paid $200. They will give you in what they feel the difference in value between a 64 and a 65 is, and they are the sole arbitrator of what that amount is. It doesn't matter what you paid or what some price guide says, even their own price guide. They will decide what the compensation will be and it is a take it or leave it proposition.


it does happen and the reason they do it is having overgraded coins out there in their slabs that people can point to is more damaging to the company and their reputation (and therefore their bottom line) than simply buying back the overgrade. And standing behind the grade that way IMPROVES their reputation.



Their grade warranties are good for lafe (of the company) with some exceptions. When it comes to copper the color guarntee is only good for 10 years at NGC, PCGS does not guarantee the color at all. And if something happens that damaged tho coin AFTER it is slabbed (corrodes, turns ugly colors, milk spots etc) then the grade guarantee does not apply.



The coin has to be submitted still in the slab, but it doesn't go to the graders still in the slab. Then after regrading the new grade is compared to the old one to determine if compensation is due. If the new grade is the same or higher the submitters is charged for the grading and the coin is returned in the new slab. If compensation is due the submitted gets the coin back in the new lower graded slab, a check for compensation, and the submitter is not charged for the regrading or shipping.