| Author |
 Replies: 162 / Views: 10,623 |
|
Valued Member
Canada
191 Posts |
i sent in a raw coin Trade dollar for auction and the auction house sent it to pcgs and it came back as proof and it was then sent to cac and verified, and then it was sold in the auction. 6 months later my sale was reversed and now I owe the auction house. the auction house said pcgs and cac graded the coin incorrectly, there was a weak mint mark they both missed. it is back at pcgs for correction. how do 2 professional companies make the same mistake? what is the usual procedure with auctions if a coin is sold and then found to be graded incorrectly? |
|
|
|
Bedrock of the Community
United States
94367 Posts |
Doesn't PCGS back up its grade with a financial guarantee?
|
|
Moderator
 United States
54280 Posts |
I guess you also missed the mint mark?
Would you please upload images?
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
|
Bedrock of the Community
United States
36415 Posts |
I agree with Frog, seems like PCGS should be on the hook for this one.
|
|
Moderator
United States
187446 Posts |
Yikes!  Quote:
Would you please upload images? Yes, please. |
|
Pillar of the Community
United States
3467 Posts |
|
|
Pillar of the Community
United States
4233 Posts |
So what year and mint mark is it? Not much to go on here. NGC and PCGS have graded some branch mints as proof-like.
|
|
Bedrock of the Community
United States
11880 Posts |
This isn't a grading error. It is an attribution error. They attributed the coin to be a proof striking when it was a branch mint business striking. PCGS guarantees grade and authenticity. They do not guarantee correct attribution. It looks like they are working to correct the attribution and that is likely the extent of what they are likely to do. https://www.pcgs.com/guaranteeSince you relied on the auction house and PCGS for the sale, you can sue them for damages, but that would only be for provable expenses you incurred as a result of their error and not the full proceeds you received from the sale in error. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
03/14/2024 12:55 pm
|
|
Pillar of the Community
United States
4233 Posts |
@ns "Proof" is a grade though. If they argue that it's an attribution, seems like they'd be opening a can of worms.
|
|
Bedrock of the Community
United States
10982 Posts |
PCGS has made this type of mistake before. I would pursue them for their mistake.
|
|
Pillar of the Community
United States
4468 Posts |
I am not aware of any branch proof Trade dollars. To my knowledge all Trade dollar proofs came out of Philadelphia. On Trade dollars a lot of proof dies were also used for business strikes on Philadelphia issues. I do not understand how a S or CC mint mark example can be attributed to be a proof. Please post a photo of the coin and a close up of the mint mark. |
|
Pillar of the Community
United States
4468 Posts |
If the auction house sent the coin in for grading, did they also miss the mint mark?
|
|
Bedrock of the Community
United States
11880 Posts |
Quote:
@ns "Proof" is a grade though. If they argue that it's an attribution, seems like they'd be opening a can of worms. I would say that the grade is the number and PF/MS indicates a striking set of characteristics of a coin that is being graded. PF/MS are end-states of a specific striking process. Within those end-states, coins are graded based on several characteristics of condition. jmho. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
|
Pillar of the Community
 United States
4587 Posts |
Read your auction contract. The sale may be final between you and the auction house.
The ultimate purchaser is being / has been made whole.
PCGS will correct the mechanical error on the holder.
But there should be something in your contract about when title passes, etc.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
|
Bedrock of the Community
United States
10982 Posts |
There are many interesting comments and ideas in this thread. Can you please link the auction or pictures of the coin?
|
|
Valued Member
United States
202 Posts |
Mistakes happen unfortunately, sometimes over multiple levels like here. It depends on the contract with the auction house, but I don't think you will see much other than a reimbursement of the grading costs and possibly a good will offer offer from the auction house to buy the coin at it's current value.
The truth is that even PCGS, CAC and the auction house are not infallible. PCGS will call it a mechanical error, but it sounds like the graders missed the mintmark and assumed it was a proof. That's more than a mechanical error in my book. Unfortunately I don't think there is much you can do other than maybe take your future business elsewhere.
|
| |
Replies: 162 / Views: 10,623 |
Posted 03/14/2024 11:29 am
