I watched a YouTube video of a guy that found a 1922 Peace high relief which are rare. He submitted it to PCGS, got it back as genuine altered surface details. He sold it on Heritage Feb 2023 for $144,000. The exact same coin was resubmitted to PCGS, came back PR63 matte finish with CAC sticker. It sold again on Heritage April 2025 for $192,000 a $48K difference.
The original owner contacted PCGS asking them why the big difference in grading. PCGS said they didn't keep records of the grading, said it appeared the coin may have been dip cleaned but would not explain the grade difference or guarantee the grade.
This is a major blunder by PCGS in my opinion. With such a rare coin they could have checked their database to see it's a resubmission. But then again every time a coin is submitted it is at the mercy of whoever grades it, giving a subjective opinion.
You can send the same coin in 5 times and end up with six different grades . The whole grading coins process is nothing but opinions based on the Day , Time the piece is graded . This happens all the time .
On PCGS FAQs it says several graders look at each coin independently then enters the opinion in a computer. Then a consensus it done to give final grade. I doubt several graders look at the thousands coins they grade like common ASE. I assume rare classic coins are given looks from several people.
According to the original owner PCGS claimed they didn't save records of the first grade, but the FAQs say they do, who knows. The first time it was graded, that cert. number is no longer on PCGS
PCGS has a YouTube channel with videos about grading including below short one, they are not wearing gloves.
Quote: When you get a details grade on a coin of such high value, it makes sense to resubmit at least once to the competition.
So do the TPGers do this purposely to make more money like when you take your car into a shop for brakes and they tell you you have 100 other things wrong with your car?
I serously doubt the grading companies purposely low ball grades hoping they will be resubmitted. Collectors would notice. The grading companies make a lot of money without resorting to dishonesty. Some incompetence yes. Multiple opinions of a grade with the same coin, yes.
Just another entry into the 'Why TPGs are a drain on coin collecting catalog". This one actually highlights the monetary implications. Either someone overpaid, or someone got short changed. That is the drain.
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Posted 09/18/2025 10:58 am
