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 Replies: 28 / Views: 3,093 |
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Valued Member
United States
206 Posts |
Poll Question
You buy a TPG coin on e bay or other mail order seller You suspect beyond a reasonable doubt the coin is over graded. Your choices are: Send it back to retailer for refund or replacement. Odds are it will be resold Send it back to TPG under guarantee to remove coin off the market. You might have to pay for this service plus be liable for return shipping if found graded correctly by them. Keep it Crack it and sell for silver or gold coin in melt or raw. Sell it online or to dealer
Edited by stephen
10/31/2010 4:56 pm
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Pillar of the Community
United States
1534 Posts |
If you paid a reasonable price and like the coin I would keep it. If not I'd return it to the dealer although the value of the coin should influence your decision.
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Pillar of the Community
 United States
2448 Posts |
How do you know that it is over graded? If it was a "Basement Grading Company" I could see your concern. If you're that concerned, why not send it off to a different TPG. I noticed that particular option was not one of the actions you considered. I have one, a Franklin, that fits this category. While I question the validity of the grade (PF69), when inspecting it, I can't find a mark on the coin. It also has great eye appeal and a great mirrored image. Maybe I'm just a PCGS bigot. |
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Pillar of the Community
Canada
3692 Posts |
Put a slab over the slab and call yourself a fourth-party grader. Then wait for people to unslab the slabbed slab. LOL
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Pillar of the Community
United States
1081 Posts |
I would just keep it. When I buy slabbed coins, I am aware of this issue and look for deals on coins that I feel may be over graded. Unless you really don't want it, I would just keep it.
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Valued Member
 United States
206 Posts |
carmykle to answer your question. "How do you know that it is over graded?" If you have a proof 70 in a NGC or PCGS which have guarantees. The coin has hairlines... dings or "milk spots" or not a dcam as graded. Submitting it to a another TPG should not be an option. My concern was over-graded beyond a reasonable doubt.... Edited by stephen
10/31/2010 3:36 pm
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Valued Member
United States
206 Posts |
wheatguy your comments are: If you paid a reasonable price and like the coin I would keep it. If not I'd return it to the dealer although the value of the coin should influence your decision. and DavidZerbato your comments are: I would just keep it. When I buy slabbed coins, I am aware of this issue and look for deals on coins that I feel may be over graded. Unless you really don't want it, I would just keep it. My comment Reasonable prices and deals on over graded coins are not the issue here (upgradable coins are not a deal at any low price) Suppose one bought coins for there collection with a plan not to sell or trade them in the short term future.. Being coins of high grade ms65+ and modern proof 69 and 70 in deep cameo or ultra cameo. Your plan was to use these coin 10 to 30 years for retirement income.. When it is time to sell. You are told 10 to 30 years from now these coins are not even gradable (for hairlines or corrosion caused by chemicals on the coins) or the coin is a few grades lower. Now one has held these coins for 10 to 30 years trusting that they where graded properly. No interest or dividends are paid thus the value is in the market for these coins at time of sale. Years from now price guides from online web sites state that an proof 70 and 69 or MS 65+ of this year is worth big money as it should be..A real proof 70 I believe is a one in a thousand or more coin. I own 150+ proof 70 graded by respectable TPG over 90% are not proof 70. Some I paid over $500 for...I will not keep them........ Edited by stephen
10/31/2010 3:32 pm
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Valued Member
United States
206 Posts |
Libertad your comment "Put a slab over the slab and call yourself a fourth-party grader. Then wait for people to unslab the slabbed slab. LOL" I think if I did that I might be looking at jail time.........slabbing a coin and putting it a holder knowing it is sub-grade might draw the attention of the FTC.. The crime might be called fraud However this would have to be done with many coins to establish a pattern and some one would have to establish this with thousands of TPG coins........ Edited by stephen
10/31/2010 3:39 pm
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Pillar of the Community
United States
5953 Posts |
I think I would go for the Guarantee option if available (not all tpgs offer a guarantee) If the coin is clearly not the grade advertised on the slab then the TPG is at fault. That being said you should be buying the coin based on your own grade not that of some third party. When 1 point can make hundreds of $ difference in price I can see some people looking for bargain priced over graded coins simply to make money returning them to the TPG for re-grade |
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Valued Member
United States
206 Posts |
nohope587 Great comment! Returning over graded coins to TPG might help tighten grading. TPG are entrenched in our collections and investments. Perhaps if they see enough coins coming back for guarantee they will fix the problem of over-grading. If indeed there is one? The creditability of coin TPGS for collectors and investment is very important to the public. Edited by stephen
10/31/2010 8:01 pm
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Pillar of the Community
United States
1952 Posts |
if it is a yellow card on the case and says SGS it is defiantly over graded by at least 5 levels lol. most of it is pocket change with a number put on it. I haven't seen a lot of them lately so maybe someone finally put them out to pasture
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Valued Member
United States
206 Posts |
SGS is a questionable TPG garylcsr. The fact they have low grading standards as you pointed out is the issue we are trying to address here and what to with grossly over graded or ungradable coins. If I remember correctly SGS guarantee is ::: returns accepted if box is not opened... ANACS has changed ownership a few times as NGC and ICG have. ANACS does have a return policy....... not sure the details NGC guarantees its coins and has a web site that coins can be submitted online if you have a questionable graded coin. I do not think there is a cost if there is I am not aware of it.. PCGS has the presidential review... called the guarantee resubmission when filling out the form which is the same as a submission form ... You must put up $25 per coin (refunded if they agree) and the wait for a judgment... now up to 3 months... ICG has guarantee program again I do not details. If some could add there experience with TPG guarantees it would be helpful Edited by stephen
11/01/2010 01:48 am
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Bedrock of the Community
United States
20753 Posts |
I'd send it back but since I never buy any coins from a TPGS that are suspect of being a fly by night place, not sure. It was not mentioned which TPGS this could be from so difficult to answer. Even the best make mistakes but many of those basement ones are just odd. The thing is if you do have one, check with a few other people that may know coins just to make sure it's not your imagination and it they all say overgraded, then just send it back. Why be unhappy if you don't have to be.
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Bedrock of the Community
United States
14454 Posts |
My opinion is the only people that would want to keep an over graded coin would be those with registry sets. I don't think most of them care very much about the coin in the holder as long as they have the highest label grade they can add to the set they are competing in. Everyone else would rather have a coin accurately graded, not undergraded but actually graded to their standards. Believe me there are plenty of graded coin in every type of holder you can imagine that will fit in someones collection and at one time or another, that the person agrees with that grading standard that the TPG went by at that particular time. Whether it be the new collector that believes the SGS grades or the experienced collector that pretty much disagrees with everyone, there will be a few coins they are actually happy with the grade on the label. Now to answer the real question. If I had a coin that I knew without a shadow of a doubt was overgraded or that got a special designation like FB or FH or what ever it may be, and that TPG offered a grading guarantee I would send them in for another look. I would rather have a coin in my collection graded correctly (even if it meant I paid to much) than one over or under graded |
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Valued Member
United States
55 Posts |
First, I think it would bother me to have an unreasonably over-graded coin in my collection. Similar to having a suspected fake.
Second, that guarantee is only good as long as the company is around to honor it. I'm not saying the company is in trouble now, but who knows what 10-20-30 years holds. If the coin only has additional value because of the slab, it loses it when the value of the slabbed guarantee goes away.
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Valued Member
United States
206 Posts |
just carl Yes my coins have been looked at by world class graders. I attended the Summer Seminar this year at the ANA in advanced grading. I search 10 BU rolls every day minimum its my night life I do not like TV and More TV coins... |
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Replies: 28 / Views: 3,093 |
Posted 10/31/2010 2:10 pm
