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 Replies: 14 / Views: 2,011 |
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Valued Member
United States
112 Posts |
Purchased a very expensive Morgan four months back at an auction. It was in a PCGS slab. The coin looked good to me after I checked it out before I purchased it. I than sent it in to NGC for a cross-certification because I wanted their slab. After waiting 8 weeks I find out (on their web-site) that they would not grade the coin and just classified it as "REVERSE DAMAGE". I don't have a clue what that means and I called them to tell me what that meant. They couldn't even tell me if it meant mechanical/human or what kind of damage, just that it had "reverse damage!! Does this mean that I have a useless coin or what.Being upset is an understatement at this point. Can anyone enlighten me on this problem? Is my coin still hold a value or what, or do I grit me teeth and accept my loss? I can't show a photo of the coin because its in transit to me from NGC at this moment.  |
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Bedrock of the Community
United States
12437 Posts |
You should be ok as long as it is still in the PCGS slab. If it is truly damaged, then it will probably PCGS's problem to fix.
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Pillar of the Community
United States
1882 Posts |
Edited by steve199
04/15/2010 6:11 pm
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New Member
United States
16 Posts |
Maybe it means that someone tried to correct damage that was done to the coin?
Just a guess.
Or damage on the reverse >_> I'm really new to all this...
Edited by ThePiggy
04/15/2010 6:16 pm
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Rest in Peace
United States
4849 Posts |
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Maybe it means that someone tried to correct damage that was done to the coin? LOL! I didn't look at it that way. Maybe NGC got themselves with their counterpart NCS.  |
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Pillar of the Community
United States
1523 Posts |
Could they mean that the reverse of the slab was damaged and they don't wanna touch it in case someone switched coins?
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Bedrock of the Community
United States
10982 Posts |
What is the Morgan? Date/MM/condition? It is possible PCGS missed the damage and NGC saw it through the slab. Unlikely but possible.
Do you have pics of the coin? The PCGS cert number? What you've described does happen occasionally, but it is a rare occurrence.
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Valued Member
United States
265 Posts |
I would agree that this is pcgs's issue.
I would contact pcgs customer service and ask them how to go about and have them re-inspect the coin and how and if it does fall into their guarantee. If memory serves, they would reimburse you the cost of the market value of the coin.....IF it does fall under the guarantee
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Rest in Peace
United States
4849 Posts |
My guess (not having seen the coin) is what PCGS saw as "circulation marks", NGC saw as "damage". Also, if it is a key date in an older PCGS slab, they were more likely to overlook minor damage since it would have ended up body bagged. Nowadays the services are more strict on slightly damaged keys since they are able to slab it as genuine regardless.
Edited by johnny54321
04/15/2010 7:52 pm
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Bedrock of the Community
United States
14454 Posts |
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Could they mean that the reverse of the slab was damaged and they don't wanna touch it in case someone switched coins? i really doubt that is the case because they should be able to tell if its counterfeit and even if its changed if they feel the coin deserves the grade they will crack it out and re-grade it. In this case there must be some type of damage to the coin that either PCGS didn't see or its in a genuine PCGS holder instead of a graded holder. if the coin has damage and PCGS missed it then I would send it in for review and they will give market value because of their guarantee. I would probably send it in for review and let them know that NGC would not cross it in a problem free holder at any grade because they said it had reverse damage, I may even include the paperwork from NGC to prove it and see if that sways them to honor their guarantee. This is if you get the coin back and think what NGC considers damage will lessen the enjoyment of owning the piece as much as you once thought when you first purchased it. if they decide NGC is wrong and you want one in a NGC holder sell it in the PCGS slab (which may bring more than it would in a NGC holder) and then find one already in a NGC slab |
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Pillar of the Community
United States
1934 Posts |
Can you post a picture of the coin?
I dont know if cracking a PCGS slab and replacing the coin is do-able.
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Valued Member
 United States
112 Posts |
I will post photos when I receive the coin from NGC. Notified PCGS and they verified the certification and coin are good, other wise they will do nothing. Could this just be the differences between grading companies. A very experienced collector told me; send it back to NGC unslabbed and chances are they will grade it and not even mention the rev. damage. Other words---all graders see different things at different times. Send a coin to three different graders and get three different responses.
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Pillar of the Community
United States
1882 Posts |
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A very experienced collector told me; send it back to NGC unslabbed and chances are they will grade it and not even mention the rev. damage. That collector should not have said that to you without seeing the coin. |
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Rest in Peace
United States
4849 Posts |
Yeah, I wouldn't remove it from the slab. At that point, you have no recourse.
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Bedrock of the Community
United States
14454 Posts |
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A very experienced collector told me; send it back to NGC unslabbed and chances are they will grade it and not even mention the rev. damage Run from this guy! he could potentially cost you allot of money. I would srill send it back to PCGS for review, I don't know who told you they would do nothing but that is what the review is for when the grade is not correct or there are problems they missed. They WILL pay you market value if they see the problems NGC did |
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Replies: 14 / Views: 2,011 |
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Posted 04/15/2010 6:02 pm
