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 Replies: 18 / Views: 4,172 |
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Valued Member
Australia
218 Posts |
I submitted a coin to NCS for some conservation work then ticked the box to have it then shipped from there to NGC for slabbing.
Their fee structure is 5% of the value then Ngc will charge using their fee structure.
So I declare the value at a fair price of 30,000 usd, prepared to pay 5%.
I get the coin back and it's slabbed as a regular strike, value maybe 1k.
When I shipped the coin off I included all relevant and published paperwork on the coin including purchase receipts to show the value, info.I email ngc ncs saying basically huh ? They said we do not recognise this particular strike, etc even though its obviously a proof!. So after pretty much wasting my time And money securely sending the coin off via secure insured courier (huge head $&@? mind you, worrying about it while in transit), they ship it back to me in a regular slab but slap me with the bill as if they were treating it as the proof version. I've got it back and probably will crack it out since its silly in the case as it says MS and not proof. So mad!! Worst experience ever ! Edited by banknotelover
02/14/2013 01:38 am
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Pillar of the Community
Australia
7096 Posts |
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Pillar of the Community
United States
3184 Posts |
what coin was this? You sure its a proof vs a MS coin?
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Pillar of the Community
Australia
4411 Posts |
What is the coin mate? If its an early Australian prrof them where did you acquire it from?
Edited by enworb
02/14/2013 03:30 am
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Pillar of the Community
United States
1812 Posts |
I have also had problems with NGC in the past, yet they are considered the 2nd best TPG Service by most collectors. |
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Bedrock of the Community
United States
17884 Posts |
Without more specific information, just going on what has been presented so far, I am not inclined to fault the TPG. |
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Pillar of the Community
United States
7840 Posts |
What coin is it? Do you have the before and after images?  I asked the CCF a question about submitting additional documents to go along with a coin to be certified, and I was pretty much told that it would not matter if I sent the documentation (cracked out slab insert) with the coin, the slabbers were not going to pay any attention to it. Sound like a similar scenario? Edited by oih82w8
02/14/2013 1:10 pm
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Pillar of the Community
Australia
7096 Posts |
If you are talking about a pre decimal proof then I can understand why NGC didn't slab it PR. These are not the easiest coin to grade and I don't think the major TPG's are proficient enough to grade Australian coins as accurately as US coins. Let's face it these companies are based in the US and staffed nearly exclusively by US collectors/graders. The Australian pre decimal proofs are a rare and low mintage coin and are not like the modern proofs. I was kindly sent an article from the Australian coin and banknote magazine by Sel , volume 10,#1 February 2007. This has an article on how to determine a 1927 Canberra florin proof, here is a bit of that article, as you can see there is a lot of research and intimate knowledge needed to determine a pre decimal proof.   Edited by trout1105
02/14/2013 1:16 pm
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Valued Member
 Australia
218 Posts |
Quote:Without more specific information, just going on what has been presented so far, I am not inclined to fault the TPG. So the fact they believe the coin is a regular strike and slab is as a everyday strike with MS grade but charge me differently isn't strange ? NGC has many price guides so they are well aware of the differences in prices when comparing business, regular, specimen, proof stikes. |
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Bedrock of the Community
13014 Posts |
How did they charge you differently?
It could be the charge goes off of their price guide or what you declare the value to be whichever is higher. I'm not familiar with their polices on those types of charges to say it wasnt because of something like that.
But like was mentioned sending in extra stuff with the coin is a waste of effort. If something was in a slab as soon as it leaves the slab the only label is irrelevant. A receipt for what you paid also means nothing to them
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Valued Member
Australia
218 Posts |
Maybe it's just me. I would of liked to think that this major TPG service would of charged me 5% of the value based on what they think the coin is and therefore slab it accordingly... Not, charge me 5% of the value, then slab it as a regular issue then say we don't "officially recognise this variety." |
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Pillar of the Community
United States
2150 Posts |
Would sure love to know what coin it is. And pictures would be a bonus.
Edited by jokingjoker
02/14/2013 9:48 pm
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Pillar of the Community
Australia
4411 Posts |
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Pillar of the Community
United States
6385 Posts |
It's only slightly comparable to your situation, but a few years ago I sent an 1876-CC USA half dollar for NGC grading. It was a so-called micro-CC type with a Breen variety number and I paid extra to have the variety identified on the slab. NGC told me after the fact that they don't recognize the Breen varieties. At the time they mostly just certified those major varieties listed in the Red Book. I think NGC recognizes many more types now including Morgan and Peace dollar VAMs but the lesson for me was to always check to confirm that the TPG will slab my specific variety, before sending it in! |
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Pillar of the Community
Australia
7096 Posts |
Come on Banknotes Show us a pic of the coin, The suspense is killing me.
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Bedrock of the Community
United States
17884 Posts |
Quote:
So the fact they believe the coin is a regular strike and slab is as a everyday strike with MS grade but charge me differently isn't strange ? Nope, they charged you based on what YOU said it was worth. If it had been the other way around, you sent in a relatively common coin and declared a modest value, but they discovered it was a rarity worth far more, you would be charged based on the modest valuation. On the other hand it would also be shipped back insured based on that modest valuation too. Sometimes though when the coin is discovered to be worth a lot more than the declared value they will contact you to see if you want to raise the valuation for insurance purposes (And probably for their fees as well.) |
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Replies: 18 / Views: 4,172 |
Posted 02/14/2013 03:11 am
