Rare 1574 Paper Siege Coin Severely Damaged By PCGS During Certification

Ok, update:

This is the email response that I received from PCGS:

"Good Morning,

Thank you for contacting PCGS.

This coin will need to come back, In order to ensure a smooth completion, please follow the steps outlined below."

This is the response that I emailed back to PCGS:

"Hello,

Thank you for your response but unfortunately it doesn't really do anything to quell or even give the slightest attempt to address any of my concerns about sending the coin back to PCGS. So, I have a question for you.

Could you please explain to me why PCGS thinks that it has the authority to compel me to send this coin back to PCGS in this situation? Since according to the current 2018 PCGS Grading Terms & Conditions, I don't see how PCGS could possibly have the authority to compel me to do that in this situation. My reasoning is listed below:

According to section 5 of the 2018 PCGS Grading Terms & Conditions the "Customer agrees to return any incorrectly described coin to PCGS upon request for correction". My original email did not state that the coin is incorrectly described. I stated that the coin was severely damaged while in the care of PCGS and since the coin is correctly attributed, the coin is not incorrectly described. So, PCGS cannot compel me to return the coin to PCGS.

Section 4 of the 2018 PCGS Grading Terms & Conditions states that "if PCGS determines that the Customer's coin was lost or damaged while in PCGS possession, Customer will be compensated based upon the fair market value of the coin as determined by PCGS standard procedures which may include filing a claim with our insurance carrier". The 2018 PCGS Grading Terms & Conditions does not state anywhere that I am required to send a coin damaged while in the care of PCGS back to PCGS in order to receive compensation for the damage done to the coin while in the care of PCGS as outlined in section 4.

I have provided irrefutable proof through photos (that are attached to this email as well as the original email) that the coin was severely damaged while in the care of PCGS. Photos one and two show the coin prior to me sending it to PCGS, photos three and four show the TrueView photos that were taken by PCGS while the coin was in PCGS's care at PCGS's facility. Photos five through twenty show the damaged coin inside the sealed PCGS Slab from various angles. It can clearly be seen that all of the photos are of the exact same coin and that the PCGS TrueView photos (photos three and four) do not show the damage that the encapsulated coin that I received back from PCGS shows. The coin must have been damaged after being received by PCGS while in the care of PCGS and most likely during encapsulation process.

Based on the above, the coin was severely damaged while in the care of PCGS which massively decreased the aesthetics of the coin and thus massively decreased the value of the coin as well. I feel that based on PCGS's own current 2018 grading terms and conditions that PCGS does not have the authority to compel me to return the coin in question to PCGS in this situation but PCGS still is bound by those same grading terms and conditions to provide me with compensation "based upon the fair market value of the coin as determined by PCGS standard procedures" for this coin that was damaged while in the care of PCGS.

Please consider the above and I look forward to hearing from you on this matter and please let me know if you have any questions for me. Thanks.

Best Regards,

-My name"

@spruett001

I thought of that too but I think that's irrelevant since section 3 of the 2018 PCGS Grading Terms & Conditions states that:

"3. Grading involves individual judgments that are subjective and require the exercise of
professional opinion, which can change from time to time. Therefore, PCGS makes no warranty or
representation and shall have no liability whatsoever to Customer for the grade assigned by PCGS
to any coin, except pursuant to PCGS's Guarantee resubmission as set forth on PCGS's website at
PCGS.com/Guarantee."

Since "grading involves individual judgments that are subjective and require the exercise of professional opinion" and the fact that "PCGS makes no warranty or representation and shall have no liability whatsoever to Customer for the grade assigned by PCGS to any coin, except pursuant to PCGS's Guarantee resubmission as set forth on PCGS's website at PCGS.com/Guarantee." PCGS cannot argue that the grade makes the coin incorrectly described since according to PCGS the grade is a matter of opinion that cannot be disputed, unless I pursue a PCGS Guarantee resubmission a new opinion cannot be issued, which I am not trying to pursue here.

@basebal21,

You seem to be angered by this for some reason? When it doesn't even pertain to you. Why? People here asked me to keep them informed so I'm keeping them informed.

It seems like you obviously never bothered to take a look at the materials set that I've been putting together that I mentioned and posted a link to in the original post.

Right now even with the coin being damaged it still is an acceptable example of a coin made of paper (religious texts) for the set that I am putting together and will be included in the set.

Sending this coin back to PCGS is not really an acceptable option for me for that reason. Simply due to the fact that I think that there is a possibility that the coin may split in two along the longitudinal axis when PCGS un-sonically seals the slab and removes it from the case to inspect it.

Now, PCGS would most definitely compensate me for destroying the coin in that hypothetical scenario but even if I got the coin back in that scenario it would no longer be acceptable for the set that I am putting together. Also, under that scenario that compensation would not factor in the time and effort for me to track down and procure another example of a comparable coin if that is even possible, which would most likely be an exorbitant amount of time and effort. By exorbitant amount of time I thinking that it may take several years with me paying attention to many different auction houses and even then there is no guarantee that I would win an auction when I found one.

So, in my opinion there is a lot of risk in sending the coin back to PCGS and I feel that my best course action is doing what I am doing now and seeing how things play out. Since I would rather have the coin damaged as it is then a destroyed coin accompanied with check and an apology from PCGS since you may not value your time but I do value mine.

Also, you're acting like I shouldn't even try when I have been obviously wronged. So, I have to ask, who hurt you?

You are obviously only looking that this issue from a monetary point of view but the fact of the matter is that there is more to it than that in my opinion and I feel that the actions that I am taking is my best course of action at the moment regardless of how it plays out.

No, I'm actually looking at this from a logical point of view and telling it to you straight. They literally told you to send the coin back so they can review it and have a chance to make it right and you said no.

My issue here is when people take unreasonable stances. If they got it back and told you to pound sand my responses would be much different.

Since you just want them to take your word for it and send you money yea I do have somewhat of an issue with someone putting on this show but refusing to give them a chance to make it right when they literally told you to send it in so they could have a chance to do so.

Might consider finding a coin show that PCGS will be attending and asking in person.

PCGS has the upper hand at this point in time. They are requesting to see the slabbed item, in hand. If not, you have no recourse, other than court.

Resorting to personal attacks because someone tells you the truth lol.

You'll be hard pressed to find anyone sympathetic to you at this point.

Or the slab could've been tampered with. Not saying the OP did that but if PCGS is going to pay out, they're going to want to look at the slab and make sure.