I would imagine it means that if you have a PCGS coin and the color fades from red to RB or Brown, or from RB to Brown and you resubmit it, PCGS will not pay any compensation for the loss of value because of the change in the color designation.
exactly, they still grade the color they just don't guarentee the preservation of color I think they still guarentee coins that have been slabbed up to the specified date, just no guarentee to new slabbed coins. I could be completely wrong though :kewl:
The guarantee is still there for coins in PCGS slabs that YOU owned prior to 1/1/10 and will not expire (so far...). Once you transfer ownership of your PCGS RB or RD copper coins, the guarantee will not go with them after 1/1/10. So, the questions that are yet to be determined: 1. How will PCGS make you prove ownership before 1/1/10 if you submit a coin for review? A receipt is handy, but I know I don't have receipts for all of them. I've also put all of my RB and RD coins in their set Registry online pre-1/1/10, so hopefully they will at least honor that as some proof. 2. If my 65RD copper coin bought after 1/1/10 grows some spots and later regrades 64RB after review, it's clear PCGS will no longer guarantee the change in color from RD to RB, but will they still guarantee the decrease in grade from 65 to 64??? There are some big dollar examples of copper that was once 65RD that is now 64RB, a certain 1969-S DDO cent comes to mind...
So, even if you didn't send the coin off to PCGS, but bought it from someone else before 1/1/10, PCGS will guarantee it (for now)? When I say for now, that raises an interesting class action lawsuit involving, I believe RCM, who bought the Thomas line of toy trains from Learning Cure. RCM changed the lifetime warrantee to 90 days and applied it to previous sales.
If you now own a PCGS copper coin that you have owned since before 1/1/2010, YOU are still covered by their previous guarantee. However, the terms of YOUR guarantee that YOU paid for have already been changed by PCGS as the guarantee is no longer transferable to another party effective 1/1/2010.
If this is the case, they should stop grading the color of the coins. If they won't guarantee it, they shouldn't print it on their label.
Their reason was mainly because of the 2009 95% Cent. If you got your mint sets, there was a sheet in there that explained the CENT would tarnish or tone quickly. As well as overall, copper coins tone over time. They didn't want the hassle..
As well as other coins. They grade them when they're less than a year old, before whatever has gotten on them has had time to take affect.
That's not what PCGS has said. If you've heard otherwise, please let us know. The potential loss they could take on a 2009 Lincoln of maybe $5, maybe $10 if it turned color on them would be less than a drop in the bucket. They are concerned about the big losses like the $80k they lost on the 1969-S DDO that they graded 65RD, then it grew spots and downgraded to a 64RB. Here's the PCGS statement in full: http://www.pcgs.com/articles/article_view.chtml?artid=5972&universeid=313
