Grade Guarantee, Who does it ?

I am rolling out a grade guarantee on all raw coins as of Jan 1, 09'

This will cover " slabability " as well. I will guarantee my raw coins to grade within 1 point on the scale at either NGC or PCGS.

Ex: A VF-30 or "choice" VF will grade 25 or better. On the bottom level, such as XF-40, I'll guarantee a 40. I will guarantee within 1 point on MS coins as well .

Does any other seller do this that you know of? Would this help to increase confidence in your online purchases if this was available in what ever series you collect?

This would not apply to Ebay of course, but only my website and show sales.

Comments please.

 

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How do you plan to address things that may happen to the coin after the sale that could impact the grade? (What if the buyer mishandles the coin and scratches it? What if he stores the coin improperly and the coin gets PVC damage?)

How long is your guarantee good for?

 

I think it would lend assurance to the buyer, to a certain degree. But even that being said, I wouldn't want to buy a raw MS-65 Morgan that was only guaranteed to bring MS-64. That's a lot of difference!

 

Hi Jack. There is a fellow I deal with up in New Hampshire who has this type of policy for his unslabed coins.....guarantees them to grade equal to his grade or higher. Very satisfied with this fellow. It was this type of policy that drew me to him. I'm sure this type of policy will work just as well for you.

 

Good questions.
Ahhhh got me already lol.

Well, how about the coin be submitted within 30 days?
As for damage, I have a high quality photo archive of every coin on the site, and will improve that as well.

No, I will not refund slab costs, just my selling price and buyers shipping cost to and from me.

Keep them coming. Help me iron the details out here:thumb:

 

This is kind of interesting as it's commonly done with stamps. However the Philatelic Foundation only will mention faults, repairs or if the item is genuine or not.

I think it's dangerous if you ask me, if you want to sell them slabbed, slab them.

 

I think this is very generous Jack, but I also think you are taking a pretty serious risk. I don't know if I trust the consistency of the TPGs...you never know how they may view something. I know they are usually pretty good...but one bad coin could really hurt.

 

I guarantee the attribution of the few ancients I sell. A bit different, though.

 

Also, what would be the guarantee if a coin comes back in a bodybag. You are great at your Lincolns, but I am sure even the experts make a few uh-oh's.




stainless

 

Jack,

To answer your question, yes it would enhance the possibility of buying from you, especially if the price was competitive. An added value! But I would want it for MS coins as that is usually where most grading becomes less absolute.

A good return policy, excellent photos , and free shipping would be even better for me, except for a MS65-66 I might buy from you. Then a guarantee would be a big factor.

Jim

 

Well, what happens when the coin is submitted and it doesnt fall within your guarentee. The buyer wants to return the coin (which is now Slabbed), for the origional price they paid???

The buyer will want to charge you for grading fees, I am sure they dont want to have your coin slabbed for you, while their money is in your possesion. Its pretty much a given that you would have to reemburse the buyer for grading fees. But.... What do you do if say, they do a walk through at a coin show and try to charge you like $200 for grading fees. And if not that, how do you know they didnt use the economy tier and tell you that they used a higher tier that costs more???

 

I cannot do free shipping because many of my coins are lower priced items. You cannot amortise it into coins under $10 .

My return policy has always been no questions asked, shipping cost included

 

IMO, it probably will get you some more business. You know your stuff, so you are pretty well covered their. Like said, I'd keep high quality pics of each coin, just in case. And, would your guarentee cover toning, and how so? Also, what if the TPG's goof, and grade a slider XF-45 coin a VF? I know that is not an everyday thing (to my knowledge), but it is a possibility? Just a couple things, I think it is a good idea though. :thumb:

Phoenix

 

When I did Morgans, I had a run of VAM's on the bay. I guaranteed them all to slab at my grade. I had one return, and yes, I refunded his slab fee as well.

That kind of detail will have to be worked out. Tier price? Thats as easy as a yellow copy of the submission sheet.

Good questions so far.

 

Jack are you going to go into Indian and Flying eagle cents , or any other type coins , like having a mischelanious section of your store , I'd be interested ?
rzage

 

No Rusty, just oddballs. There are other experts who cover that, Rick Snow, Charmy Harker et al. I do Lincolns, nothing more. No desire to expand. With some luck and hard work, in 3-5 years, I will be a "go to guy" when Lincolns are mentioned. Lincolns are my passion.

 

I like the idea of me submitting. That is a safeguard.

If you are confident, I see no probs. I will stand by my grades, period.

Coin switch? Photo back up SHOULD help.
Yeah, it's a stretch but I am pretty sure I think in advance what would " this grade ". You have to know your series.

 

Sort of like Jack Cline with Standing Liberty Quarters , wish you the best Jack .
rzage:thumb: