Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Save Password
Forgot your Password?

Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Has Anyone Here Dealt With An NGC Guarantee Claim Before?

To participate in the forum you must log in or register.
Author Previous Topic Topic Next Topic  
Pillar of the Community
United States
527 Posts
 Posted 09/22/2019  12:26 am Show Profile   Check casualcoincollector's eBay Listings Check casualcoincollector's eCrater Listings Bookmark this topic Add casualcoincollector to your friends list Get a Link to this Message

So, here is the situation. I recently purchased a rare NGC certified token (Beard Token) and it was attributed very wrongly. Please see the below photos.

According to the NGC slab this token is a Rudenko-10 Novodel. Please see the below reference.

They obviously don't look the same and this token is actually an original beard token of variety Rudenko-2. Please see the below reference.

I contacted NGC about this and sent the token back in and they fixed the attribution error and I got the token back in the mail today. As seen below.

When corresponding with NGC before I sent the token back NGC I specifically asked them if this was going to cost me anything to have this fixed. They said no and also informed me that they would refund my shipping costs to get the token to them. Not only have they not made any attempt to refund my shipping costs, NGC charged the credit card that I had on file with them to fix their mistake. I emailed them about the charge a week and a half ago about the charge on the same email thread that I was corresponding with them before and have still yet to get a response.

At this point I have been charged to fix their lapse in knowledge about this subject matter. That is absolutely unacceptable to me and you can't call this a mechanical error either since one would have to know a lot about the subject of beard tokens to know that NGC got this one wrong. Mechanical errors would have to be obvious. This wasn't obvious and they used a very obscure/rare reference (Rudenko) which only 300 copies exist total. Based on the rarity of the reference book I'm betting that NGC may have not had a copy of that reference book on hand and just certified this token blindly. Now, that is just speculation but at least it makes sense.

After reading the NGC Guarantee it seems that they owe me a bit more than just the shipping and the refunded charge. The token that they originally certified it as according to the Rudenko reference book is significantly rarer at a rarity 4 out of 5 then the token that it actually is at a rarity 2 out of 5. Based on that they should owe me the difference in value between what they certified it as originally and what is actually is in addition to the refunded charge/shipping.

I'm going to send them another email about this tomorrow night and call them on Monday. Has anyone here dealt with an NGC Guarantee claim before? Or have any thoughts on the matter? Please let me know. Thanks.
Edited by casualcoincollector
09/22/2019 12:35 am
Bedrock of the Community
United States
12452 Posts
 Posted 09/22/2019  01:02 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
The charge should be easy to get overturned, probably give them a call Monday about that.

As far as the attribution, they won't pay anything. NGC does NOT guarantee their attributions. Slightly off topic but another thing most people don't realize is that for their ancients they don't even guarantee them to be authentic.

You can try but most likely they will either say it's an attribution where they're off the hook, or that it's a mechanical error where either way all they'll do is fix the label for free. You might have better luck asking for some grading vouchers or a grading credit than an actual payout, but I don't have high hopes for you unfortunately.

From their guarantee
"Third Party Information and Attributions. Information listed on a label that originates from a third party (including, without limitation, any information from the U.S. Mint) and any attributions (including variety attributions, reference attributions and pedigree attributions) are NOT guaranteed. NGC will attribute those varieties that it deems, in its sole reasonably exercised opinion, to be major varieties that are widely collected and accepted as legitimate varieties by the Coin collecting community at the time the Coin is graded. New information may cause NGC to no longer recognize an attribution that it previously assigned, which, again, is not covered by the NGC Guarantee. NGC does not guarantee that a particular variety or designation will always be recognized, and attribution policies are subject to change without notice. Further, NGC's calculation of a Coin's Fair Market Value will be based on a generic example of the Coin at the original grade without any variety, reference or pedigree attribution."
Bedrock of the Community
United States
15807 Posts
 Posted 09/23/2019  3:24 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Even if they DID guarantee their attributions, when it was corrected it became a rarer and probably more valuable variety. They aren't going to pay you a difference in value when the value goes UP.
Gary Schmidt
  Previous Topic Topic Next Topic  
To participate in the forum you must log in or register.

Coin Community Member eBay Sales

Certified Coins   Certified VAMs   Certified Errors  

Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2019 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2019 Coin Community Forums
It took 0.95 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05