PCGS And CAC Incorrectly Graded My Coin

When the OP consigned the raw coin to GC they (the OP) had to check the boxes for grading and submission to CAC. That is per a legal contract. Nothing changed. GC gets better pricing for grading that the OP decided to obtain.

The GC buyer had a guarantee with PCGS that they chose not to pursue and went back to GC to be made whole. The OP will get what their coin was worth. End of story.

The most intriguing thread on this forum in a long time.

Per GC return policy item #12, the buyer of the coin has 24 hours after receiving the coin to file for a return with GC. GC choose to ignore their own return policy and refund the buyer at least 30 days after the sale had closed. GC should have forced the buyer to go through PCGS for a refund as GC's refund window had expired.


"12. Return Policy. On all non-bullion items, GreatCollections offers a generous return policy (unless otherwise marked on the item information page) as a courtesy to Buyers, providing the item is paid for within seven days of the auction date (or in the case of a Buy Now item, when you confirmed to purchase the item) and no request to delay shipment is made by Buyer. Certified coins/banknotes must be in the original sealed grading service holders. To return an item, the Buyer must notify GreatCollections within 24 hours of receipt and receive a return confirmation number. Please mail the coin or banknote via Insured Mail to GreatCollections within 72 hours of receipt of coin. Original and return shipping costs are not refunded. Returns will not be accepted without the return confirmation number. Registered bidders are allowed one free return each month. For more than one return in a calendar month, a 5% fee will apply, based on the total purchase price of the item. Clients found to be abusing our return policy will be notified in writing that they will no longer have any return policy privileges whatsoever. If you viewed the item prior to winning the auction or offered the coin for sale to any dealer, collector and/or marketplace, there is no return privilege".

Nobody but the OP and GC knows if that's what really happened though. Way too much speculation on this thread. If they violated their own 24 hour policy, or paid the OP before funds were finalized with the buyer, then sure, that's a problem. However, GC specifically said on this thread that "Within 30 days of the auction (not six months), we canceled the sale, so we could get it fixed before we could re-offer in auction." This is also within their 30 day window for payment to consignor.

The OP has never said whether or not they took out a cash advance on this coin. That changes the picture immensely. All we've gotten related to that is "I have additional coins there that are also listed for sale now, and some coins I bought that I havent yet paid for, as I wanted to pay after the new coins are auctioned" and "I wanted the proceeds of the ongoing sales of my coins to go toward my current invoices", which you can read between the lines one way or another.

Everything here is vague and convoluted.

This thread is lost in the weeds.

Has a mod sent this discusssion to Ian for a direct reply? If not, should I attempt this?

Got it, thanks.

You could try posting your experience over at the PCGS forum as well. If what you say about auction sales never being final is true, I think that people should be aware of that.