Possible NGC Grading Error - Recommendations?

I would like to ask for help/recommendations on the following situation.

I recently purchased a Proof coin from a reputable dealer; it was specifically sold to me as a Proof version of the coin. However, I submitted the coin to NGC for grading and the coin came back as mint state MS63, not Proof.

Here are my questions:

1) should I re-submit to NGC for re-grading if I think they made a mistake? Is there a different process for reviewing re-grades (in other words if Person A graded it the first time, do they ensure Persons B and C look at it on re-grade)? How likely is it that they would change their position? (and no, I am not holding my breath - but if you have had experience with regrades, I would like to hear it).

2) should I just ask for a refund from the dealer? And if so, is it reasonable to ask him to compensate me for the grading fees as well? Never been in this position, so not sure what protocol is. I believe he sold it to me in good faith and did not intentionally try to deceive me. But if he only refunds the price of the coin and not the grading fees (not to mention the shipping), not sure that is fair...

Its only a $100 coin, so I am not losing sleep over it. Its more the principle that if the coin was sold to me as a Proof, it should be a Proof.

Thoughts? Suggestions? Thanks.

 

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Pictures please. They'll help a lot.

 

I would think 2 would be the most logical. As Rick mentioned , a photo would be nice if one can see the edges of the coin.

 

I hope pictures help. Its hard to judge in photos without coin in hand and, even if you tell me "yep, that's definitely a proof", I still want your advice on what to do next (1 or 2 above?).

I do not have pictures of the edges of the coin.

Here is the pictures (before I submitted for grading)

 

Dang nice coin. Have you reseaarched to see if proofs were even made? This coin is definitely proof or prooflike. NGC usually is pretty decent at these, so my guess is the dealer thought it was a proof, but NGC had good knowledge it was simply prooflike.

 

Yes, proofs were definitely made (and in pretty good quantity too - not very rare). And it kills me that it was graded MS63. Not even a DPL... sheesh. Should I send it back with a note explaining how wrong they are? lol

 

I don't know if this is a proof or not because it is so hard to find reference books for a lot of medals. The only thing that leads me to believe that NGC is right is that the beaded rim on the obverse between 9 & 10 o'clock appears to be weakly struck. The same is true for the reverse at 3 o'clock. Ordinarily, you don't see this for proofs.

Chris

 

I believe that's a medal, not a coin.
They graded this MS63 so...

 

#2 also but I wouldn't expect the dealer to cover the cost of submission. Unless it was agreed to at the time of purchase.

 

Yes, I know its a medal (I should have clarified that), it was originally a design for a 5 mark coin, but was modified to make a commemorative medal.

Ok, so lets say its not a proof for sake of argument. Do I expect the dealer to refund the purchase price plus grading fees?

 

AHA! So I did a few searches on this very site, and see what I found. I think my coin looks much better TBH

http://www.cointalk.com/threads/need-info-on-german-5-mark-proof.234126/

 

It may simply be what is termed a "mechanical error" on the part of NGC and in these cases the TPG will often re-certify the coin with the correct designation, but you are on the hook for the postage to get it to the TPG. Additionally, there are times when the TPGs change how they designate coins or medals in that they may no longer call any of these proofs even if they have done so in the past.

 

Was the purchase made in-person?

 

That looks like a proof to me. I would just keep it where it is and save yourself the hassle or added expense. Great looking medal/coin! TC

 

It's a great looking coin. If you wanted a stabbed proof, you probably should have purchased a stabbed proof. I don't mean to say this as mean as it sounds. I would just keep it.

 

I do plan to keep it at this point. I heard back from the dealer and he will reimburse me for the sale price of the coin, but not grading fees or shipping. No sense sending it back now.

At the time, there were no slabbed proofs of this coin available that I could find. If you see one for under $100 let me know.

Thanks to everyone for their replies/posts.

 

According to the KM book that I have, this coin is only listed as UNC and no proofs. Of course this doesn't mean anything because I have seen errors before in the KM books. According to the book, it was produced in silver, gold and platinum and all in unc. No mintages were listed. Value was listed as $65. This book is from 2011. It used to be listed as KM#M1, but is now listed as KM#X1.

 

I have tried to research it myself and details are unclear. I have read online that both proofs and unc were minted (and in high numbers). And then I see graded versions like the one below that seem to confirm it. But as you say, it could simply be that the regular/unc mintage of the coins is of such quality that people mistake them for proofs. I will have to do a little bit more digging.

 

Have any been graded by NGC as a proof? NGC might call all of the MS.