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Do Grading Companies Refuse To Insure Submissions During The Holidays?

 
 
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 Posted 12/09/2017  11:48 am Show Profile   Bookmark this topic Add MikeF to your friends list Get a Link to this Message
So the guy who I purchased that 72 sld from is claiming that during the Christmas season tpgs refuse to insure packages.
Has anyone ever heard of this?


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 Posted 12/09/2017  11:54 am  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
That sounds like FUD. "OK, it's the Holidays. We're going to suspend protecting ourselves for a few weeks."
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 Posted 12/09/2017  12:04 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
Super Dave please elaborate. I'm not joking around on this one. I think it is a serious attempt to push me off. I could walk you through the excuses and phone call dodging this LCS has put me through over the last week. So NO clowning around please. He also has that pretty 32 you like. It was part of the bulk submission.

After blowing me off for a week now he claims PCGS and NGC will not insure the mail packages? That's straight from his mouth! I'm not creative enough to make this stuff up!
Edited by MikeF
12/09/2017 12:28 pm
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 Posted 12/09/2017  12:31 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
Time for you to dodge that LCS. What business in their right mind would refuse to insure under any circumstance? That's the point I'm trying to make, and I agree they're trying to push you off (for reasons we won't know but don't seem complimentary to them). In your shoes, I'd allow them to succeed in pushing you away.
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 Posted 12/09/2017  1:30 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
After blowing me off for a week now he claims PCGS and NGC will not insure the mail packages?


Everything they ship back is always either insured with real insurance or them self insuring it. There's never a time of the year where they would say that if it gets lost or stolen on the way back that you're out of luck.

The only way they wouldn't insure it is if a submitter provided them with a business shipping account and are using their own shipping for the way back and not paying the TPG shipping fee. In those cases it's up to the submitter to insure it but that really doesn't have anything to do with the TPGs if a business goes that route
Fire A.J. Preller
Edited by basebal21
12/09/2017 1:32 pm
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 Posted 12/09/2017  4:42 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Absolutely right. What a ridiculous statement on the face of it.
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 Posted 12/09/2017  6:23 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Seriously ridiculous. It's insane to even make such a claim.

I wouldn't bother with them ever again.
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 Posted 12/09/2017  9:49 pm  Show Profile   Check paralyse's eBay Listings Bookmark this reply Add paralyse to your friends list Get a Link to this Reply
Insurance is the first burden of the shipper, not the TPGs (recipients), the LCS is responsible for insuring the coins being sent in for grading.

In return, PCGS insures them (via the USPS) on the return journey back to the LCS, up to the amount of the submission's total declared value; the return shipping is determined by the declared value, but over $500 and they will return your coins via Registered Mail, which has a higher, $50,000 insurance limit. In other words, if you submit a group of coins valued at $15,000, the return shipping will be calculated by PCGS as Registered Mail w/$15k insurance.

I think the LCS is blowing smoke. It sounds like they are saying that, according to PCGS, the USPS will not insure the coins' return shipping due to the holidays, but that's arrant nonsense.
Member ANA - EAC - TNA - SSDC
Specializing in 1932-1964 Washington quarters

"Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis
Pillar of the Community
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 Posted 12/10/2017  11:13 am  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
Thanks guys for helping me to NOT lose my sanity! He's probably scared the 72 he sold me will come back with altered surfaces or grades xf-45. This is a coin he said was au-53. I had to show him graded examples from my collection to get him to come down to au-50 but I still told him I'm almost certain it is xf-45. He made some verbal guaranties but he probably wasn't expecting me to go through him for grading.

He also didn't expect me to show up with an arsenal of graded Seated dollars for comparison. Oh the joys of buying raw coins from dealers.

Here's the thread from our grading section. http://goccf.com/t/301798
Edited by MikeF
12/10/2017 11:23 am
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 Posted 12/10/2017  12:02 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
MikeF, what is your game plan for the coin? If the coin grades details or under AU50, do you get a full refund or a discount?
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 Posted 12/10/2017  12:19 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
He uttered some guaranties, but given his behavior with the grading I doubt he would honor them. The sad part is I really liked the guy. He was personable and didn't have the same grumpy demeanor most dealers in Kansas City exhibit. He may be slow playing me due to returned item laws in Oklahoma but that's just speculation. I'm not familiar with OK laws.
If he follows through with the grading and it comes back as xf-45 I would think we could strike a deal on other coins in his inventory. It wasn't the typical album junk most dealers peddle. I just don't understand why he would lie about tpgs insuring items this time of year. He also said PCGS and NGC encourage customers not to send in submissions this time of year. That's why I was thinking he was slow playing me due to return laws in Oklahoma.

I don't think it will grade details but I did mention that to him when we first met due to the prooflike fields on the reverse which might of freaked him out. It's a semi prooflike coin with original crusty surfaces and natural toning. By far the nicest 72 I've seen trolling through auction histories. Whether it comes back 45 or 50, I still want the coin.


Edited by MikeF
12/10/2017 12:30 pm
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 Posted 12/10/2017  1:07 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
He also said PCGS and NGC encourage customers not to send in submissions this time of year. That's why I was thinking he was slow playing me due to return laws in Oklahoma.


Your thought it probably right. There's never a time they encourage people not to submit. A lot of people are submitting right now trying to get them in before PCGS and NGC get absolutely hammered with the start of the year bulk submissions.

You could always just join and submit them yourself if he's being that difficult
Fire A.J. Preller
Edited by basebal21
12/10/2017 1:07 pm
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 Posted 12/10/2017  2:35 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
It looks like a no go on OK laws. http://blog.laborlawtalk.com/2006/1...emorse-laws/

So that would lead me to speculate that he has an outstanding balance with the tpgs or he just wants me to go away. What's the motto of this site? Education is the key to collector success. Perhaps he just wants ignorant customers that take his word for it.
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 Posted 12/14/2017  5:41 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
UPDATE: Talked to the shop owner yesterday around 12pm. It was the same song and dance with the grading agencies and now he was trying to talk me out of it because of a spike in mail theft reported by NCIC. So I called PCGS then called him back and told him that PCGS does insure all coins in their possession for the holidays and that their current turn around time is 17 days. His response, well I got to call them to check on fees (this was the same thing I had been waiting for him to do for nearly 2 weeks!) and that he would need some money up front. I asked if he accepts paypal? He said, yes, I said perfect, lets get it done. Never called me back yesterday.

Called him today at 2pm. Asked if he had the numbers so I could send him some money. His response? 'no I haven't had a chance to call them'. Then he told me he would call me right back. Come 4:20, 10 minutes before the store closes, I tried to call him back, twice. NO ANSWER!

I feel like I'm in the twilight zone! So infuriating. 2 weeks of this BS now.
Edited by MikeF
12/14/2017 5:43 pm
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 Posted 12/14/2017  9:20 pm  Show Profile   Bookmark this reply Add TypeCoin971793 to your friends list Get a Link to this Reply
Back out of the deal. This coin is not worth your time, and neither is this dealer.
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