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 Replies: 19 / Views: 4,125 |
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Pillar of the Community
 Canada
798 Posts |
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Pillar of the Community
 Canada
5400 Posts |
Absolutely ridiculous! We always use NGC for better world Coins and some US coins. ANACS also in our tool box for US coins , especially VAMs. PCGS never ! Lately ANACS has been very conservative in their Grading . No trouble getting My price when people SEE the coin. |
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Bedrock of the Community
United States
17884 Posts |
Does the website say where they are in the process? Did you sent them something very obscure that they are having to wait for outside experts/consultants for?
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Pillar of the Community
Canada
798 Posts |
PCGS has contacted me. One of the coins was damaged during the encapsulation process which caused the delay.
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Pillar of the Community
 United States
8938 Posts |
Just what you wanted to hear
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Pillar of the Community
5464 Posts |
Quote:
PCGS has contacted me. One of the coins was damaged during the encapsulation process which caused the delay. What?  ...........and? |
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Pillar of the Community
United States
1375 Posts |
Quote:
One of the coins was damaged during the encapsulation process which caused the delay. Have never had this happen to any of my submissions. It's good that they admitted their error and notified you, but what was their proposed remedy to the situation  |
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Pillar of the Community
5464 Posts |
Quote:It's good that they admitted their error and notified you, but what was their proposed remedy to the situation Congratulations! You now own a detailed coin!!  |
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Pillar of the Community
Canada
798 Posts |
Exactly. The coin was holdered 'details - damaged' and they offered me the insured value of the coin plus free return shipping. Beyond this, I don't think there is much else that I can do.
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Pillar of the Community
United States
1375 Posts |
Quote:
The coin was holdered 'details - damaged' and they offered me the insured value of the coin plus free return shipping. So, the coin was graded and had a PCGS grade assigned before they attempted to holder it. Was the insured value based on that grade, or was it based on the value you indicated on the submission form? IMHO values listed on submission forms are "best" guesses based on what the submitter hopes the grade will be. In this case, there was an actual grade assigned before the damage occurred, so it seems like the insured value should equal the PCGS listed price for the coin and grade |
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Bedrock of the Community
13014 Posts |
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The coin was holdered 'details - damaged' and they offered me the insured value of the coin plus free return shipping Sounds like they offered you the value you placed on the submission for that coin. Tip of the hat to PCGS for doing that. Quote:
IMHO values listed on submission forms are "best" guesses based on what the submitter hopes the grade will be. In this case, there was an actual grade assigned before the damage occurred, so it seems like the insured value should equal the PCGS listed price for the coin and grade The insured value is what the submitter declares. The value you list on the submission is the max payout you will ever get. The submission values determine the tiers and costs so if someone wanted to try and slip something into a lower tier there's some added risk if the once in a blue moon damage happens. |
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Bedrock of the Community
United States
94367 Posts |
Can't argue. When submitting coins to the major TPGs, I typically (not always) insure them at around what I paid for them, not for what I hope they'll grade at. Perhaps not sound reasoning, but I've never lost a shipment in 25 years and saved a ton of money in the process.  Edited by Coinfrog
08/28/2019 7:39 pm
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Pillar of the Community
United States
1375 Posts |
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...insure them at around what I paid for them... I NEVER do this Quote:
for what I hope they'll grade at I ALWAYS do this. The reason for the above is that I'm submitting raw coins purchased 20 to 30 years ago at MUCH lower prices than a graded coin would go for today. Should something happen like what happened to the OP it would guarantee that PCGS would pay lower value on the coins. Also, raw coins typically have less value than the graded coin. Again, indicating a value of what you believe the coin will grade at protects the submitter if something goes haywire and you have to purchase an equivalent graded coin. Edited by BadDog
08/28/2019 9:03 pm
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Bedrock of the Community
13014 Posts |
 Whether it's postal insurance or TPG insurance always insure for what you believe the final value will be within reason of course. Putting a higher value doesn't assure you would get that, but putting a low value does assure that is the max you can get. It's one thing to put like a 310 dollar coin as 300 to use the economy tier, but I would never try and sneak something in with an abnormally low value. As a side note the submission sheet will help with postal insurance claims so you need to make those values match otherwise it'll be denied and you might as well have saved money and sent it without insurance. Edited by basebal21
08/30/2019 06:49 am
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Pillar of the Community
United States
4593 Posts |
Actually you should declare and insure for full replacement cost.
If they damage it and give you a check - now what do you do? What will it cost to buy a replacement?
If you watch antiques roadshow you'll see this - appraisers say what they think it would sell for in a shop, or at auction or what you should insure it for (full replacement). The numbers can be quite different.
-----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/ |
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Replies: 19 / Views: 4,125 |
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Posted 08/20/2019 11:40 am
