I submitted a Seated dime early last month that I believed was overgraded for refund or replacement, this week I finally heard back from them, and they agreed the coin was overgraded by a point due to lack of luster but no wear, thoughts?
i think i misunderstood you. you had a coin. this coin was slabbed. you thought the coin you owned was given TOO HIGH a grade, and you in turn RESUBMITTED hoping to have a lower grade assigned? am i missing something?????
These look like scans and are near impossible to interpret. How much money will they give you back for the downgrade?
He submitted it in the case you see for an "appearance review". NGC agreed that it was overgraded and will reslab it with a new grade and refund him something on the price. It should only cost him shipping.
So the trick is to basically get a coin graded for free? At the expense of the coins conditional value?
I see. I thought he originally had the coin graded (the over-grade) and was going to get refunded the cost of the original grading.
Owle had the coin and thought it was over graded Owle sent coin back to NGC for review NGC agreed coin was over graded and regrades the coin NGC sends coin along with $ back to Owle .The $ is the difference in value between 63 coin and a 62 coin
If I am catching this right, he sent in a 62 coin and will get back a 61 coin. Also I do not see where he submitted the coin originally, but that point is immaterial.
If he receives the difference in value there is definitely monetary motivation. After reading Owles post again though, it seems he had the coin originally graded (which came back over-graded) since he says he asked for a "refund or replacement". That sounds to me like he was asking for a refund on the cost of grading. There is also monetary motivation if he was seeking the refund on the cost of grading and ALSO for the coin to be returned in the slab. Which is why I said earlier 'trick to get a coin graded for free'. He wouldn't gain anything if the coin was taken out of the slab and returned with a refund. Seems to me like little or no risk. Definitely worth trying.
RLM, I mistook the scan as the result coin not as the one he sent in for review so 62 to a 61 Endeavor and Rysherms, taking a problem/overgraded coin of the market is just good business. its not done nearly enough. So if he paid 63 money for it, he should be reimbursed for the difference
NGC has 3 choices if they find it misgraded. They can replace the coin with one of the same grade. They can refund you the difference between the selling prices of the 2 grades. Or they can buy the coin from you at the going price for the wrong grade. AKA refund the price of the coin. You participate in the decision, but it is their final decision.
thats YOUR opinion. i would rather have the higher graded coin. being that coin grading is mostly subjective, i would rather have the ability to sell a 63 later down the line. there is no integrity involved. there is no "moral highground" here. just stop. he valued the cash more with a 62 than the 63 by itself.
first, i wouldn't buy a coin i didnt agree with the grade. edited second, if it has a grade on it, isnt that the purpose of grading - a grader at one point thought it WAS in fact that grade? but then it falls back on grading being subjective. every time its handed from one to the next in a sale couldnt each person argue "hey this really is a 63! hey no, this is a 62! nope, 63! edited its subjective grading. having a 62 with cash in hand made more sense to him. that was his opinion, and his choice to make. i personally would rather have the higher grade.
