PCGS Wrong Coin Label Error

I just got this toned silver eagle back from PCGS. It was identified as a "$10 Gold Eagle" on their customer login. Amused, I thought for sure someone would catch this through grading, imaging, and QC. When I received the coin, it was still labeled as a "$10 Gold Eagle."

I've returned slabs before to have errors like wrong strike type or variety fixes, but this error is so far off and easily caught. Is there a market for PCGS label errors of this magnitude ?
If you were to try selling it where would you go?

 

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Well.... It is sort of golden and it does have an Eagle.
Seriously, I can't see why PCGS wouldn't just fix the problem. As far as selling it. I would wait for a proper label. No? Why try to make more off it because of a grading companies' stupid error? Isn't that deceptive??

 

Well, I wouldn't try to sell it as a gold eagle. But I do think it's not great having the error in PCGS database. Returning to get it fixed is probably the good numismatic citizen thing to do.

 

They will fix it for the original submitter for free, contact customer service, and ask for a pre-paid shipping label.

Now there is an imaginary market for these - people list them as "rare PCGS errors" on fleaBay for insane money, but they don't sell unless you catch an idjit.

Many of us have one or two in our "fun" collections.

My personal favorite is one where the company (not PCGS) misspelled its own name.

 

PCGS will fix the problem and they may even apologize for it but you will pay the shipping costs. There is a collector for everything so yes there are people that collect error slabs with the wrong label. I’d leave as is and live with it as it’s a rather unique labeling error.

 

That's hilarious. Someone on ebay would like to own that slab.

 

I'd be tempted to see how long it takes them to notice.

Edit: Pretty coin, BTW!

 

If they graded it MS70 I might send it back but it is MS69 so that error might be more fun for what it says and yes, it does have a golden tone.
I would just keep it for the novelty.
(and after further review, I don't even think it makes MS69 personally)
Coin is worth it's value, not the label.
And yes, somebody might pay a premium for the holder just because they are into that.

 

If you show it to PCGS at a show, they’ll fix it for nothing, and there’ll be no shipping involved. Chances are their data entry software has a suggestion feature. Person entering data put in “eagle” and year, then clicked gold instead of silver. After that, the software took over, and no one paid attention to the heading.

Cal

 

I stay away from labeling errors because presumably the label could have been for an entirely different coin in the submission (including the grade).

For example, I was just watching an auction last week for a 1913 Hungarian Korona - this is the big key date, but the slab was listed for a common year and MS66. It was clear to me that the coin in the slab was not an MS66, and there was actually most likely an MS66 of the more common year in the same submission. Someone paid a very high price for the coin, I'm assuming thinking it was a 66 and only the date was wrong. But what can you do with the coin? It's not useful for the registry like that and when you send it in for correction they could change anything they want saying it was a label correction and you have no recourse.

 

and . . . ANACS sends me wrong grade labels almost all the time IMO. LOL

 

That does make them look stupid. There's got to be some money in that.

 

There is a small premium for these types of mistakes. You can send it back to fix but that might be more work than it’s worth (PCGS customer service can be hard to reach and then you still have to get someone that understands the issue).

 

That's I'd suppose one way to put it.

Someone that understands the issue, lol, they're professional graders.

 

The people that answer the questions on the phone aren't professional graders and you're lucky if they even know a little bit about coins. You have to get to the right person and that can be a challenge. You also have to make sure they actually understand that you want to fix a mechanical error and not process your order as a regrade/reholder (where they will charge another fee).

 

In other words they don't know what in the world they're doing. I believe I just said that in one manner of speaking or another, didn't I? A twelve-year-old understands "You screwed up and labeled the slab incorrectly and I need it re-labeled correctly," what are you talking about? Give me a break. They've idiots like that answering their phones who need a lecture or some such thing before they can grasp as simple a complaint as that, what business do we have even giving them our business? This is on them, friend. They screw up the service they were hired for then compound that incompetence with incompetent customer service, oh there are some real pros, I'll thank you for the warning.

 

That is the way that I am. I have a three cent nickel that is maybe a hundred dollar coin. However NGC says three cent silver on the label and shows it in their database as a six hundred dollar coin. Gives me a grin when I look at it so I leave it.

 

I've multiples of these, and blatantly over-grade labels, on relatively expensive Gold coin slabs, which have been purchased/kept.
I have only found these labels from this firm, that's touted it's Paramount quality efforts. LOL
It's believed private survey, Judicial action, "trumps" the expensive self-proclaimed/generated status.
JMHO

 

Yes quite a few people have seemingly lost the ability the understand something simple. It is very sad.