What Does a PCGS Guarantee Mean?

Discussion in 'Coin Chat' started by SwendiCoin, May 21, 2009.

Page 2 of 2
  1. Lehigh96

    Lehigh96 Toning Enthusiast

    Regardless of your "composite grading" method Doug, If I were to ask you how either NGC or PCGS would grade a particular coin, you would be right on the money most of the time.

    One of these days you are going to have to share your grading method with the rest of us. You rarely miss anything, even from a photo. I am sure that you have a grading procedure that you follow for every coin you grade. I just dont' know what it is.
     
    Lehigh96, May 24, 2009
    #21 + Quote Reply
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. mikenoodle

    mikenoodle The Village Idiot Supporter

    Lehigh, it helps that he has forgotten an awful lot more than most know about coins.
     
    mikenoodle, May 24, 2009
    #22 + Quote Reply
  4. coinman0456

    coinman0456 Coin Collector

    Yeah GD , share the knowledge. Lehigh is right , for the short time I have been a member here , I don't think I've seen you miss yet also.


    If the grade determined under such "Guarantee Resubmission" procedures is lower than the grade originally assigned to the coin, or if the coin is found to be misattributed, non-authentic, PCGS shall pay the current market value for the coin in question at the originally assigned grade, or at the owner of the coin's option, the difference between the current market value for the coin in question at the newly established grade and the current market value of the coin in question at the grade originally assigned. PCGS will also refund the regrading fee and postage and insurance costs incurred by the coin owner in sending the coin to PCGS. It is understood that ....

    PCGS will be the sole determiner of the current market value of the coin and that current market value is defined as dealer replacement value, i.e. the price a dealer would most likely have to pay to replace the coin.
     
    coinman0456, May 24, 2009
    #23 + Quote Reply
  5. GDJMSP

    GDJMSP Numismatist Moderator

    I have a sign in my home -

    I've never made a mistake. I thought I did once but I was wrong :D


    Seriously, thanks for the vote of confidence, but I make my share of mistakes. As for my grading method, I've shared it on many, many occasions. You pretty much nailed it - it's a composite method. I have studied every grading book there is in depth - and continuosly do so. I have read every article on grading that I could ever find, and still do so. I have looked at countless coins of every denomination, series and type - from more than just a few countries. I used to buy multiple coins of the same date and mint slabbed by the same TPG, and all the major TPG's, and studied them - just to get a better understanding of their grading methods. I have had repeated, in depth conversations on the subject of grading with every knowledgeable numismatist that I have ever had the good fortune to meet.

    Doing all of this has taken me a lifetime. So to grade coins - all I do is apply it. There are no secret methods or special proceedures. I first examine a coin, under a good light, with the naked eye - just like the books tell you to do. It takes about 5 seconds. For 95% of the coins this is all that is needed. If I see anything that I think warrants a closer look, I use a 5x glass to examine the coin. For 98% of the coins that is enough. For those that still require a closer look, I use a 10x lighted loupe. That pretty much covers all the coins.

    Now for coin pictures things change. Some pics just are not good enough to accurately grade coins. And even with the best pics, the most you can hope for is an educated guess. But with experience, you can learn what a pic tells you and does not tell you. Often what it doesn't tell you is more important than what it does tell you. You have to learn what these things are, how to recognize them and how to apply them in order to arrive at a grade estimate. It would require a full book to explain, but if you were to read all of my past posts, and examine all of the pictures I have ever posted - you'd pretty much have that book.
     
    GDJMSP, May 24, 2009
    #24 + Quote Reply
  6. coinman0456

    coinman0456 Coin Collector

    I also sometimes buy same denomination/year in multiple grades as well GD , and from the top Two TPG's . However , as you are aware we often times are at a loss for some grade justification's after they are slabbed , up and down.
     
    coinman0456, May 24, 2009
    #25 + Quote Reply
  7. GDJMSP

    GDJMSP Numismatist Moderator

    Don't misunderstand - I used to buy, just as an example, 10 1880-S Morgans, all graded by PCGS as MS64, then say 6 in 65 etc. Then 10 by NGC, ANACS, ICG etc etc.
     
    GDJMSP, May 25, 2009
    #26 + Quote Reply
  8. coinman0456

    coinman0456 Coin Collector

    yes I understood, thats what I had done as well , but not Ten pieces. Usually 2 or three of the same grade from the same TPG. And I had a couple of well known Collector friends who always let me view their collections , of coins in grades that I would never be able to afford. But even today it continues to be a learning experience , seeing some submissions come back with a greater or lesser grade than I would have attributed.
     
    coinman0456, May 25, 2009
    #27 + Quote Reply
  9. tmoneyeagles

    tmoneyeagles Indian Buffalo Gatherer

    Boy, now wouldn't it be hard if you wanted to get your hands on 10 1933 Gaudens, and compare them...MIGHT HAVE A LITTLE TROUBLE... lol

    I'm thinking that, that is a great way to learn grading, just study the coins
    Pick out the undergraded ones, and maybe crack em' out, and re certify them, I mean, you might want to test yourself against the TPG, and just see if you can find their under/over grades, and which ones are right on the money.. :)
     
    tmoneyeagles, May 25, 2009
    #28 + Quote Reply
  10. coinman0456

    coinman0456 Coin Collector

    today , with a wonderful site like Heritage and their visual coin features , is to look at many many coins at your your leisure , and you will sometimes see some questionable grading , up and down and it only cost is the amount of time you are willing to put in to learning. Bowers and Merena is another good one and teletrade too. The more coins you make yourself available to look at , the more adept you will become in developing your grading abilities. Than go find someone with a big box of coins or tokens ( if thats your area of interest ) and try to find some goodies. It happens!
     
    coinman0456, May 25, 2009
    #29 + Quote Reply
  11. grizz

    grizz numismatist

    .........quite a grading set, doug.
     
    grizz, May 25, 2009
    #30 + Quote Reply
  12. tjmetro5

    tjmetro5 Member

    tjmetro5, May 26, 2009
    #31 + Quote Reply
  13. tmoneyeagles

    tmoneyeagles Indian Buffalo Gatherer

    tmoneyeagles, May 26, 2009
    #32 + Quote Reply
  14. The Penny Lady®

    The Penny Lady® Coin Dealer

    The Penny Lady®, May 26, 2009
    #33 + Quote Reply
  15. mikenoodle

    mikenoodle The Village Idiot Supporter

    and it is also possible that the slab is counterfeit (although it's merely possible, I am not suggesting it)
     
    mikenoodle, May 26, 2009
    #34 + Quote Reply
Page 2 of 2
Draft saved Draft deleted

Share This Page