I have a question about NGC's guarantee. I bought online a 1976 Type 1 Eisenhower Dollar. When I got the coin I admit it looks fantastic, however it is clearly a Type 2. It has been mislabeled, a mechanical error they call it. I know that they will fix the label on the slab for free, however the difference in price within the grade between the type 1 and type 2 is a 3-4 times more. So what does NGC do about that? Do they use their NGC price guide to settle the matter?
I don't understand your question...what does that have to do with anything? NGC doesn't assign values to their graded coins. They'll change out the label and ship it back to you.
Attributions, including variety attributions, reference attributions and pedigree attributions are NOT guaranteed. Further, NGC does not guarantee that a particular variety or designation will always be recognized, and attribution policies are subject to change without notice. http://www.ngccoin.com/services/writtenguarantee.aspx
Is their a difference than in the variety plus attribution as you pay the extra fee for it verse the type assigned to the coin by its date that is just part of the grading fee.
I guess I found the answer, quote from the NGC page: Clerical errors, mechanical errors and typos are NOT guaranteed. If requested, NGC will remedy any mechanical error with respect to the description or grade of a coin on its label, free of charge. It is the duty of the buyer and seller of an NGC-certified coin to examine coins for mechanical errors and to return such coins for correction when warranted. The determination of what constitutes a mechanical error is at the sole discretion of NGC; examples of mechanical errors include, but are not limited to, the following:
Sounds like a good gig. Miss the type attribution mess up the coins value and not have to cover it. I will say that they have fixed this for my when I have been the submitter for free. I have seen them mess up both 1972 and 1976 Ike types on more than one occasion.
Makes me wonder how many times the person placing the info on the label, like the grade, missed what the grader or attributer assigned to it and it has passed them and the QC reviewer. Too many coins and not enough time.
Did you examine the coin, instead of just the label? This would be the classic example of buying the coin, not the slab, wouldn't it? Especially since you admit you have seen them mess up the attribution in the past.
