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My Experience With A PCGS Guarantee Submission

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hfjacinto's Avatar
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 Posted 01/29/2024  10:34 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply

Quote:
Very interesting. Would PCGS conserve it without contacting you for payment first or is that what the appearance review is supposed to take care of?


I really don't know the answer. I did include a letter stating that if Conservation makes sense, I would like it conserved. I haven't gotten any charges yet, so it maybe until they ship it back, but unlike other companies, I don't see a standard conservation charge.


Quote:
Looking up the cert shows the same grade. Am I missing something?


No, you are not missing anything, I am asking myself the same question, my assumption is that the coin is conserved and was regraded and came back same grade.
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hfjacinto's Avatar
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7273 Posts
 Posted 01/30/2024  1:56 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Coin is shipped back. Only took a little over 2 weeks, as to what was done, I guess I'll know if a few days.
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jbuck's Avatar
United States
188052 Posts
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kbbpll's Avatar
United States
4233 Posts
 Posted 01/30/2024  2:54 pm  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply

Quote:
I don't see a standard conservation charge.
https://www.pcgs.com/restoration buried under Pricing & Policies. "The Restoration Fee is a 3% guarantee premium (min. $10) based on the value of the coin in its final grade after restoration. "
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hfjacinto's Avatar
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 Posted 02/01/2024  2:30 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I got the coin back and ....

NOTHING got done.

This was a likely probability so I go to Plan B. I will let you know the results of Plan B.

What have I learned?

I learned that I lost a lot of faith in PCGS. I always thought PCGS was the better company of the TPG. I no longer feel that way. I'm leaning toward only buying CAC, Anacs or NGC graded coins. Based on expereince, NGC has a much better guarantee.
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jbuck's Avatar
United States
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kbbpll's Avatar
United States
4233 Posts
 Posted 02/01/2024  3:32 pm  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply
So you explicitly requested conservation and they did nothing? The coin looks like their own poster child for the benefits of their service. https://www.pcgs.com/restoration and this one
My-Experience-With-A-PCGS-Guarantee-Submission
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hfjacinto's Avatar
United States
7273 Posts
 Posted 02/01/2024  6:50 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply

Quote:
So you explicitly requested conservation and they did nothing?


Correct! They even returned my letter and paperwork!
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hokiefan_82's Avatar
United States
3641 Posts
 Posted 02/01/2024  10:54 pm  Show Profile   Bookmark this reply Add hokiefan_82 to your friends list Get a Link to this Reply
Interesting process you've just gone through, and unfortunately for nothing it seems. Sorry it didn't turn out better... I'll be interested in hearing what your Plan B is and how that turns out!
Member of SPMC, FCCB, ANA and ANS.
My U.S. Classic Commemorative Complete Set: https://www.NGCcoin.com/registry/co...sets/278741/
My U.S. Fractional Note Set: https://notes.www.collectors-societ...eSetID=34188
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kbbpll's Avatar
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4233 Posts
 Posted 02/01/2024  11:50 pm  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply
Could you tell us exactly what you specified on the submission form? And what they charged you? There isn't any "appearance review" that I can see, which you said on this and your NGC thread. So I'm curious what the service was supposed to be. Reconsideration? But that says it will only be removed from the holder if it grades higher, and yours graded the same but is in a new holder? (you said it's now in a NFC slab, which the cert lookup also says). There's also the Regrade and Guarantee Resubmission options. Nothing seems to fit with "appearance review."

New images?
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Slerk's Avatar
Russian Federation
1557 Posts
 Posted 02/02/2024  07:15 am  Show Profile   Bookmark this reply Add Slerk to your friends list Get a Link to this Reply
It would be interesting to look at the reason for the failure of cleaning and conservation. Did they charge you? Anyway, I think you've already spent on postage, so the meter started spinning.
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hfjacinto's Avatar
United States
7273 Posts
 Posted 02/02/2024  08:15 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I submitted the coin under "guarantee submission"

The coin was never removed from the slab.

There was nothing in the paperwork. My letter and form were returned. I specifically asked if the coin merits please conserve. I didn't get a response back. Just the coin returned.
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kbbpll's Avatar
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 Posted 02/02/2024  12:35 pm  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply
So it sounds like the cert lookup saying "Protected by NFC anti-counterfeiting technology" is wrong and that tricked you into thinking it was put in a new slab. From their submission form it appears that "guarantee resubmission" only applies if they downgrade the coin, so they punted on it. Seems like a big waste of time. What's Plan B? ANACS would conserve up to 20 coins for one $59 fee, but that's probably not cost effective if you're only submitting one.
Edited by kbbpll
02/02/2024 12:35 pm
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hfjacinto's Avatar
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 Posted 02/02/2024  1:53 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I purchased a few bakery goods and dropped it off at my local coin dealer and he conserved with coin care. He was able to remove the corrosion without detailing the coin (he believes), once it was conserved it looks better but I doubt its an XF45. The black spots were hiding wear on the breasts and drapery.

We are sending it in to NGC. I wouldn't be surprised if it comes back as XF40. So my feelings are that PCGS did me no favors.

Even at XF40, its looks much better than it did. I'll wait to see the grade before I decide what to do. If it comes back details, I really thought about doing a real 7070 so who know it maybe my first coin for the 7070 (Plan C).

This is the first coin that I am in more than its worth but I would rather have a better looking lower graded coin that what I had before.
Edited by hfjacinto
02/02/2024 2:03 pm
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jbuck's Avatar
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 Posted 02/02/2024  3:07 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I really thought about doing a real 7070 so who know it maybe my first coin for the 7070 (Plan C).
I hope it does not come to that for you, but I do like Plan C.
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