My LCD (Local Coin Dealer) told me tonight that NGC will not guarantee the grading of any copper coin certified by them prior to 2000 and for coins certified after 2000 will guarantee the grade only for 10 years. Has anyone heard this?
Q. Are all coins certified & encapsulated by NGC covered by the NGC guarantee? A. The NGC Guarantee does not apply to copper, bronze or copper nickel coins graded by NGC prior to April 1, 2000. To the extent that the NGC Guarantee applies to copper, bronze, or copper nickel coins, the NGC Guarantee expires with respect to such coin(s) on the ten year anniversary of the date of encapsulation by NGC. Additionally, any NGC certified coin deemed by us to be representative of a clerical error is not covered by the NGC guarantee. Clerical errors may be returned to NGC for correction of labeling at no charge to the submitter. From : http://www.ngccoin.com/faqs.asp
Something else you might want to know deamer, just as an FYI. I can't remeber for sure if it was 2000 or '01, but prior to that NGC would not slab any coin newer than 1964.
Interesting, as a 'Self-Grader' (Eccch, How Horrible) I didn't know this and thanks for the information. This opens doors which might have best been left closed. I can see coins which might have been graded in 2001 suddenly not authentic or of questionable origin in the year 2011... Ben the Self-Grader
Good post and something to keep in mind when you go to buy a slabbed coin! Buy the coin - not the slab!!! I think I have heard this somewhere before ...
Huh ? You wanna run that by me one more time. You think that NGC would mis-authentic a modern coin struck 1965 and later ?
Doubtful - prior to 2000 NGC did not guarantee copper coins at all. In 2000 they began offering a 10 year guarantee on copper. PCGS has always guaranteed copper - and it has cost them a bundle.
In my view this is another reason to prefer PCGS over NGC, at least for copper coins. However, I do see their point. A red copper cent in an improperly stored slab could lose its color or worse over time and would no longer justify the grade put on the slab.
So, please excuse me if I am not getting this, a 1909 S VDB still isn't really determined as authentic if graded by NGC? OR are they just talking about the color? I can kind of understand where NGC is going if it is about the color, copper tones. In a few years a R coin can turn to a RB possibly, which in a lot of cases is a big decrease in value. Phoenix
For all it's worth I cherry picked 20 or so cents from 1980's kept them in a conditioned space and they looked pristine up until last year! The toning on these coins is now a ligt green with finger prints starting to show their furry heads! While not so dis-pleasing, I have decided to part ways with them. Funny thing that copper!! Funny thing RickieB
The guarantee issue is only because of the color. A coin that is graded as Red and then tones in the slab, if submitted for re-grade and it is now graded as RB or Brown does indeed lose a lot of value. And because of that, NGC would have to stand behind their guarantee and pay the owner the difference in value.
In the discussion here it is abut the color as it is part f the grade and grade is about the only thing the NGC guarantee covers. Yes technically thee is one sentence in the guarantee about authenticity All U.S and World coins - including but not limited to Pattern coins, Varieties, Tokens and Medals, Mint Errors, American Colonials, Confederation coinage and Private and Territorial Gold - are guaranteed for grade and authenticity only. But while the guarantee spells out your rights and what NGC will do if the grade is found to be wrong, is doesn't say a thing about what happens if a coin is found not to be authentic. (Also note that for things such as patterns, tokens, varieties etc where attributions are critical, the guarantee covers grade and authenticity only, not attribution.) Now to date NGC has always stood behind their slabs and if a fake turned up they have always bought it back. But technically all they really have to do is return your slabbing fees. Until very recently PCGS's guarantee was the same way. It was very specific about grading bu said nothing about authenticity. It was only because some of us made a big enough nuisance of ourselves over there that they finally agreed to change it and put in language that specifically covered your protections in matters of authenticity.
It was only because some of us made a big enough nuisance of ourselves over there that they finally agreed to change it and put in language that specifically covered your protections in matters of authenticity. And thank God for those squeaky wheels.
If I remember correctly, NGC once graded a 14-D (maybe an 09-S VDB) and the D eventually fell off and was floating around in the holder. I think it caused some stir.
