I recently purchased a coin slabbed by a 3rd tier grading service (National Numismatic Corporation or NNC). It was graded EF-40. When it arrived, I noticed clear rim dings disfiguring the coin. Do you think that a coin with rim indents can carry an EF-40 grade? I'm thinking about returning the coin from the seller for a refund. Just want to get some opinions before I ship it back.
Agreed... this is a bottom tier grading service, and completely unreliable. They've slabbed many counterfeits and altered coins, along with damaged ones.
NNC is a lower tier grader. Some coins might be OK, but most will fall far beneath the market acceptable condition for the grade (IMO). No clear rim dings as such would not normally be acceptable. I would send it back to the seller. NCC states on its website,
BAD idea. What coin did you get to have it graded as EF-40? Lower-tier service shouldn't be trusted anyday.
I'm surprised at the coins (primarily older copper coins) with rim dings that still get certified even by NGC and PCGS. That said, consider the slabber. guy
It does not matter what TPG graded the coin. What matters is the seller's policy on returns. Did you purchase the coin sight-unseen? Was the coin advertised with a seller's description, or simply the TPG name and grade? Did the seller have guarantees on the coin? Regardless if the coin is graded by a third party or first party, raw or "slabbed", the buyer still needs to conduct due diligence when making purchases. Grading in numismatics is subjective. And there is no universal set of grading standards that are used. However, this also does not excuse the seller if he in any manner misrepresented what you would be receiving. A little bit more information on the whole transaction would help to make a better opinion of the whole situation. Making statements like "send it back because it's an XYZ slab", to me, is absolutely absurd.
If you don't like the coin, by all means return it. Sometimes a light rim bump or even two won't prevent a coin from getting graded by a reputable grading company. I have a full set of graded Barber Halves in VF-XF, and a couple have slight rim bumps, yet they still graded. The key is what is and what isn't market acceptable. The whole original point of third party grading was to create a "sight unseen" market in coins. If the market will accept an otherwise nice, original coin with a small scratch, or a small ding, or a very light old cleaning, or a dip, etc then the coin may well be graded. The problem is, NNC has their own standards and they have a habit of overgrading and grading coins with problems severe enough to cause a details grade or no-grade at market acceptable grading companies. Here's two coins that illustrate my point... This one has a slight rim bump, it's also a larger circulated Silver coin. It's otherwise gorgeous and it not only graded, but CAC liked it as well. The rim bump is also a possibility why it didn't go higher than a 20.. And this coin has been dipped, I just sold it (And said it had been dipped) but PCGS felt it was OK as a 45. IMO it's comparable to a 50-53. Maybe I should do a topic on what "Market acceptable" actually means...
I'm not sure whether this rim defect is from a nick or a mint defect (look at almost 9 o'clock): Not wanting to hijack this thread, I'm not sure how TPG's assess rim defects. guy
The OP's problem is NNC. They are not a TPG as TP is supposed to stand for "Third Party" . They are a SG as in "Seller's Grader" or even SPG as in "Second Party Graders".
Any third party grader, no matter how lousy they are at their job should be able to pick out obvious flaws, defects, or damage. Missing a grade by a couple numbers is understandable, since grading is extremely subjective. But, problem coins that would be body bagged by normal grading firms should at least have the flaw in the description if they do decide to slab it. Return it ASAP.
I'm going to go ahead and send it back. The bumps were not disclosed by the seller, and I'm pretty sure that they disqualify the coin at the slabbed grade (and that the coin would grade VF at best, even without the bump). Here's an attached scan: I think the rim bumps are most visible from the front (although they are almost hidden by the slab cushion). There are dings at 6, 7, 10, and 11 o'clock. Sorry about the fuzziness of the scan. I'll try and get some camera pictures at an angle.
