Okay here's a hypothetical scenario... You buy a coin in 2005 graded MS68, for example. In 2014 you go to sell the coin but the buyer doesn't agree on the grade. Even you question the grade. Not so much because it was incorrectly graded in 2005. The grade was an accurate grade at the time, but over the last 9 years the lack of 100% air tightness has changed the grade. This could especially happen with copper cents where a grade includes RD and now it is RB. So what happens then? Does PCGS compensate the owner? I'm just curious.
About 10-15 years ago NGC changed their policy regarding color designations on copper to a limit of ten years post-certification. A few years ago PCGS also changed their policy to essentially give no blanket coverage for color on copper, but they likely do a coin-by-coin inspection if there is a complaint.
Grades don't change due to color. Grade is based on wear and detail. It may lose a RD designation, but most collectors could care less unless it's an ultra modern.
Loved the first part of that Cole as the grade does not change at all. Dont like the second part as it matters very much in older copper. Look up some prices of early copper in Red and in Brown and you'll see that someone cares very much.
It may indeed to a few, but how many RD designated 1700's coppers are there? Better yet, how many can afford the handful that are available? Not even Holmes had one.
I agree. It makes a huge difference. But, the TPGs know how reactive copper is so they won't risk having to pay out the money if the coin loses the red color. If the slab is properly stored, it shouldn't be an issue.
I didn't like when the TPGers pulled the Designation Guarantee but I totally understand why they did it. And no rysherms that will not keep me from using them at all.
NGC has a similar policy. Every TPG with a guarantee policy refuses to guarantee the color. This is because their slabs are not air tight (I don't think any holders truly are). Therefore, the coins are still exposed to the air and changes in humidity. Since they can't protect them, they won't guarantee them. This comes down to the storage method of the slabs.
They also no longer guarantee any of the coins that may have "turned" or damage that may have occurred after the coin was slabbed.
I'd actually like to know why you don't like them. I have personally never had a problem with them but if you have had some kind of issue we should be aware of...I'd love to know. It might change my opinions about them.
No, he wouldn't. Yes, PCGS did change their guarantee regarding the color designation on copper coins. But that change only affects coins graded or sold after Jan.1, 2010. "We've also made a change in how we handle the guarantee of color for copper coins. The fact is that color for copper can change depending upon where a coin is stored. The villain is humidity, and if you have mint red copper coins stored in Hawaii or Florida, for example, there's a good chance that the environmental factors can alter the color of the coins. This is obviously beyond our control so consequently we will not be guaranteeing the color of copper coins graded or sold after January 1, 2010." http://www.pcgs.com/News/Pcgs-Grading-Guarantee-Update So a coin graded in 2005, and that turns from RD to RB or BN is still covered under the PCGS guarantee, as long as you can prove that you owned the coin prior to Jan. 1, 2010. A purchase receipt would do that, or if you were the original submitter. And to answer the OP's question, yes PCGS would compensate the owner as long as they agreed that the market value was less after the color change.
