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Fake Coins And Grading Companies

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Pillar of the Community
Australia
852 Posts
 Posted 05/12/2018  10:56 pm  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
Basebal21: Section 5 includes any label errors including counterfeit coins (that is why PCGS are invoking that clause for my 2 fakes). The specific wording includes the submitter indemnifying PCGS against any and all losses caused by the sale of any incorrectly described coin (so no guarantee of ever getting the coin back). I'm basing my opinion on an actual fact (the email from David Talk)
This isn't a warranty claim. I never had any intention of making a claim and they are demanding I send them back.
Section 3h is in the PCGS collectors Club Agreement (it has 10 sections and is available online). This agreement isn't on the back of the submission form but is still applicable (the exact wording in the Agreement is "Use of PCGS's coin grading services signifies Customers agreement to the terms and conditions set forth in this Agreement".
Have you ever read the Agreement?
The OP is uncertain if his coin is fake, if he sends it in they may grade it (do you dispute that fact?). They may subsequently change that opinion after sending the slabbed coin to the owner (do you dispute that fact?) They may then demand the coin be sent back to them by invoking section 5 (do you dispute that fact?) They may then invoke their clauses and retain the coin indefinitely (section 5) or sell the coin (as bullion?) or destroy it with the indemnity of section 3h (do you dispute what those clauses mean?)
And yes under normal circumstances they will sent the fake back (but you have to be prepared for them not sending them back as otherwise PCGS wouldn't need those clauses worded as they are)
For my 2 fakes their demand of return has nothing to do with the possibility of me being the maker (I'm the numismatologist who identified the scope of these fakes, published an article on the fakes and also advised PCGS of these fakes)
Valued Member
Australia
145 Posts
 Posted 05/22/2018  10:00 pm  Show Profile   Bookmark this reply Add serenitystan to your friends list Get a Link to this Reply
Hi Nealeffendi, I take my hat off for your honesty mate. They don't grow em like you anymore..Not nice that PCGS want to cancel your other genuine slabs coins. You would think they would send you a letter of apology and offer to pay for ALL COSTS and free membership with 10 free submissions. Honesty is the best Policy. What goes around comes around. Good will come to you...
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