And came back bodybagged one month later. "Your coin can not be encapsulated because of a scratch on the reverse." I looked it over a dozen times before sending it out. There is no scratch! Grrrrrrrr. And my $50 is gone forever. That's it, I'm switching to ANACS.
Do you have a picture of the coin? That would help. With the high cost of slabbing, you might want to use this site as a " screener " and those with more experience at it might save you some money !!! Lots of help is available here if you ask
It would be nice if NGC would at least encapsulate their body bagged coins in a NCS holder with a details grade rather than just sending the coins back in a 2x2 flip. Submitters should get something of value in return for their investment.
I mean, I could understand if it was fake, or altered in a way, but because of a scratch? That's just picky. What I'm saying is, you should not get your money back for coins that are not genuine, but for a scratch, you should at least get some credit back.
sent.......... funny you should mention that! just saw a post yesterday that pcgs is going to do that very thing!!
Hmmm, weird. I can see because of a noticeable scratch (that is like a dig), but if it's faint, I don't see why they would slab it? Any pics? Phoenix
Great post Jack, but the issue with the coin is what concerns me, hmmm... One of the reasons I don't use the process, then again we butcher our own meat too... Ben
Look in the open forum for an example of a coin with a scratch......in an ANACS slab. The TPG's are tough on that stuff, even if most collectors would accept it, they do not. When in ANACS holders they carry a stigma or "cooties" lol.
This is one area where I agree with Magman and Gopher about issuing a credit or some type of refund. I understand that PCGS and NGC have high standards that they must try to uphold. Having those high standards is good for the business IMO, because it sets the bar as to what other TPGs are held accountable to, but also gives the average beginner or novice collector something to strive for - something to base their coins on. Now if I remember correctly, because I belong to NGC, they say they keep your money because it takes the same amount of time/work to grade a damaged coin vs. a certifiable coin. I agree with only half of that statement, because part of those funds are tied up in the costs for actually slabbing the coin. So if these companies were to return an amount or more realistically, give a credit for the cost of the slabbing process, not only will they ensure that they would keep someones business, but I would think it would build greater customer loyalty. The truth of the matter is that most people tend to forget about the credits and it is generally not used, especially if there is an experation date on it. herefore, the TPGs still end up keeping all the money. I own a business, and as a business owner we take this into account when we give out coupons or gift cards for promotional items. Part of the reason why I don't send coins off to be slabbed is because I don't have the extra money to throw away guessing whether or not it will come back body-bagged, but the other part is because I am not quite ready to trust myself to send in a coin that could possibly be body-bagged. God, I hate coin collecting, but its the best darn hobby around. :goofer:
If bodybagged coins were issued refunds, you would have every coin doctor on the planet submitting their wares, hoping for some to slip thru the cracks, and those with problem coins doing the same, hoping for the same results. I can understand the policy of no refunds. Hard but true fact, you need to be able to spot problems before submitting, your own education will save your own money.
Seems to work for those shady sellers! :rolling: As for slabbing, I have not yet broken into that level of collecting, and I don't think I ever will. Buying slabbed coins - too much of a risk of getting ripped off. Slabbing coins - too hit-or-miss for my taste. It doesn't make sense to me that they turn away coins with slight damage or even cleaning. Why not just grade them with a net and details grade? That would be the logical approach, no? :computer:
i have seen a 3c silver with a scratch on it graded 66 by pcgs. you would be amazed at what can get in
You nailed it, Jack. If submitting to a TPG was risk-free (and cost-free) for coins that don't pass muster you can bet the TPGs would be inundated with coins with every sort of problem - scratched, repaired, altered, counterfeit, artificial toning, tooled, etc. Many people would submit their problem coins over and over and over hoping to slip them past the graders. And why not? If it didn't cost anything to submit a problem coin and have it returned you have nothing to lose but everything to gain. With the deluge of problem coin submittals the graders would have less time to concentrate on the non-problem coin submittals. The overall quality of their service would go down. That said, I do question the policy of not refunding any portion of the submittal fee. Yes, the TPG service incurs much of the same overhead costs for every submittal, whether the coin is returned in a slab or a body bag. They must receive the submittal and catalog and track the coins, graders must inspect the coins and record their findings, a determination letter is generated and the coins are packaged for return delivery. I dare say that the time invested in a problem coin is less than that invested in a coin that is eventually slabbed. And the TPG does not incur the costs of actually slabbing a problem coin - printing the insert, material cost of the slab, labor to slab the coin, and the associated Quality Control costs. It would seem to me that it would not be unreasonable for the TPG to refund a portion of the submittal fee for a body-bagged coin. What portion would be fair? I don't know. Refunding 1/3 of the fee does not seem out of line to me when you consider the costs the TPG incurs on problem coins.
i have an idea why not allow the submitter one free coin next time they submit and one should be the hard limit
I don't know about that though, for my half eagle it cost $20 both ways for insured shipping to $1000. So the insured shipping fees might make this cost prohibitive because they can easily add up to the cost of certifying the coin.
They did get something of value. They got an expert opinion that the coin submitted has a scratch that makes it market unacceptable for their slab. For $3 extra, you can submit coins to NCS for slabbing and if the coins are problem free, they will transfer them to NGC.
