PCGS Has Damaged My Coin

It's still really difficult for me to believe that the person who did the damage didn't know he/she did it. To say that seems like we are trying to paint PCGS with the BEST possible light to me. I don't buy it. Maybe I'm to cynical.

@BStrauss3: "You are paying them to confirm it's genuine and grade the coin. That's what they sell. Nothing whatsoever to do with valuation."

It sure is an odd business. Why am I supposed to use a TPG again? I forget.

Not for valuation, that's for sure. You're going to let someone else tell you what your coin's worth?

Because their policy wasn't followed. If they pay that (which they could anyway) there's no reason to properly value anything and not just submit everything as cheap as possible.

But like mentioned they don't set values, the market does. The market tells us what their grades generally get not the other way around. Half the time people would love to be able to sell for their price guide price if that was the case.

You are expected to have a clue beforehand what your coin's grade is. That's what numismatics is about. The TPG's are only there to hang official confirmation of what you already know on the coin. Being able to grade and value for yourself is such a fundamental part of collecting that I'm having trouble finding words to describe it with.

I don't think they cancelled it to avoid their guarantee, my understanding is they offered the $15 that was listed as the value on the submission in accordance with their written policy. That fulfilled their guarantee obligations, and when he declined to send them the coin they then cancelled the certificate. That then protects them from him selling it to someone else and then being on the hook to someone else for the guarantee a second time. When the TPG's make a guarantee offer it is take it or leave it. You don't accept they are then off the hook. You have effectively chosen to keep the coin as is.



Strictly speaking that is absolutely true, a coin should be graded by the same standards no matter what the value of the coin is. Value can not be determined until AFTER the grading has taken place.

i am thankful for the words of support and am a bit surprised how far some people will go to paint PCGS in a good light over this issue.
I would just like to reply to a couple of comments made so far and clarify a couple of points

"no one is innocent in this situation. PCGS damaged the coin, the dealer acted questionably in his paperwork, and the coin owner didn't do due diligence with the dealer."
What would you consider due diligence? using someone who is a ANDA member? asking for opinions about him on this website? using him based on the recommendation of PCGS? establishing that he is a published author on coins and respected member of the Numismatic community? because I did all those thing before I handed my coins over and I told him how much I thought they were worth. he said he would complete the submission form properly and send it in. I was very clear on the fact that every coin I submitted was worth over $300 and was concerned because one was worth more than $3k but he assured me that they would be properly covered.
i used him because PCGS advertised him. I did do due diligence, but I did it on him because of PCGS referring to him as one of there agents.
PCGS is vicariously responsible for the actions of its employees and agents therefore I hold them responsible.
I knew the coins were worth good money, that's why I was having them graded to ensure they would be safe in a slab and could be properly insured for loss and if needed could be sold for the right price.

"the second is a grade guarantee which they effectively cancelled in order to avoid a possible pay out. certificates don't just get cancelled simply because someone calls to complain.

i have no issue with the first, it was by the rules (that the submitter agreed to). the second could happen to anyone if PCGS gets wind of a possible grade guarantee issue ahead of time."
this is what has really pushed my buttons. I never received any formal offer in writing, compensation or refund of my grading fee. but they have cancelled the certificate I paid for without even holding the coin or forming a settlement agreement. what if it was your coin, someone used the cert number of a coin you own to forge another coin and PCGS gets wind of it and decides to cancel the cert to be safe.
or what if a coin gets looked a in a slab and someone complains that its not correctly graded and PCGS cancel the cert to be safe.
This practise is highly un ethical in my opinion and paints a picture of an organisation that lies about the many checking procedures that they have in place to ensure the coin has been correctly graded before being sent out and then cancels the certificate to cover up its mistakes.
If someone from PCGS is reading this thread may I suggest that you contact me ASAP to resolve this issue because this is just the start of what I have planned. I have all the communications saved and I screen dumped the cert verification so I have all the evidence necessary to prove what you did.

I have spoken with and emailed

Anibal Almeida

Operations Manager

PCGS

800-447-8848 ext 376

after being messed around by

Alisha Hackenberry

PCGS Customer Service

800-447-8848

alishah@collectors.com

I will be emailing higher up the food chain soon but after being messed around for over a month I thought it was time people heard about what has happened. I do have a plan to escalate this further should I receive no satisfaction but I will give the management a chance to make things right and IF they do I will post here that they have done so.
im not holding my breath however