My Experience With A PCGS Guarantee Submission

Honestly, I don't want to do business with PCGS anymore. I'm happily walking away.

In the end, the NGC guarantee is better for me. So I will look for NGC coins.

My coin actually had more wear than XF45, hence the XF40 was a realistic grade. The spots were ugly and one actually had corrosion. My local coin dealer was able to remove the corrosion, so the coin is conserved but it was not an XF45 coin. Sadly PCGS thinks it is.

Scenario:

I ask 10 people, call them A, B, C etc. to draw a picture of a 12 inch ruler to scale (as best as they can).

I use each of the "rulers" to measure the spine of a book.

Did A, B, C,..or J get the measurement right?

When nothing verifiable is used, then using the term right measurement or wrong measurement is a moot point.

The only way to get the correct measurement of the spine of the book is to use a verifiable standardized ruler.

The very fact resubmissions exist testifies there is no factual, legitimate, and verifiable right or wrong in the present grading systems.

In fact the companies openly claim grading is an art, not a science. There is no right or wrong grade. It is all opinion based.

The recent CAC slabbing and problems it has raised shows this.

PCSG coins that were valuable in PCGS-graded slabs were submitted to CAC, and the CAC slabs say the coins were cleaned.

Thus the newly devalued coins have owners with two options:
1. Admit they were mistaken by ever trusting CAC (stickers or slabbing), or
2. Accept they were mistaken by using PCGS (etc.) and stand behind CAC who has enlightened them that PCGS should have known the coins were cleaned.

Either way the owners have to admit they made a mistake using one or the other companies.

If there was something verifiable used, the scenario never would have happened. But reslabbing profits, which are large, means nothing verifiable is used b/c profits drop off. Tiis is most likely why they abandoned the verifiable system using computers that was started in the late 90s.

BTW...if the devalued coins are now resubmitted to PCGA I hopes of getting the original grades...it's a gamble. Since nothing verifiable is used, there is no guarantee the former grade will be re-applied. Some will not be happy they went into this with the trust they did to start with.