I purchased and just yesterday received a 1972 Eisenhower Type 2 PCGS MS63 from a large online seller. I love the coin and have always wanted one and finally found one at the right price. However, the slab is slightly chipped on the front edge (not near the coin) at about 3 o'clock. I may have gotten a good deal on the coin due to the chip, although the the seller did not mention the chip in the description of the coin. The seller has a 7 day return policy. Would you return it or not? Does a chip or other imperfection in a PCGS slab take away from the value of the coin? Do these types of imperfections get worse (i.e., spread) over time? Thanks, TC
The return issue is up to you. You can check into the fee for re-holdering the coin. I don't know what you paid & what the coin is worth to you. The return issue is up to you. If you don't like the coin today, then you probably won't like any more later.
If you do not plan on reselling the coin (which it sounds like you don't), I would probably keep it, but I would definately mention the chip to the seller. You may get an in store credit for a future purchase.
I'd say it's not uncommon. Last year I purchased an NGC star, toned Morgan from a guy. We communicated back and forth quite a bit discussing price. Asked him some other questions about it. I finally went ahead and bought it. It shows up. The ENTIRE edge of the slab on one side AND the bottom, had all been chiseled down. It didn't look like it had been cracked open but more like somebody was trying to get it to fit into something. It looked like crap. I was very mad about this and gave the guy an earful. It did not show up in the picture. He said it was no big deal and if I didn't like it that I should just send it back. It "wasn't a big deal" but the friggin idiot wouldn't think to mention it in the auction or any of his communications with me!? I liked the coin so I kept it, opting not to go through the hassle of a return. I figure if I eventually send in a submission to NGC, I can get it re-holdered for pretty cheap. I see your point though. It's very aggravating and I wouldn't buy anything from him again over it. People can say it doesn't matter all they want. If you're at a coin show and there's two identical coins in identical slabs, side by side and one is in a pristine slab and the other is chipped up, which one are you going to buy? Full disclosure would cut into their profits! If you like the coin a lot, keep it. If it isn't what you thought it could be, send it back just to spite him.
Good point Vess. I think disclosing all the details of an item is as important as being open and honest in the description. The best way to avoid these types of issues for me is to buy local. I just do not feel comfortable dropping over $100 on a coin I have not first inspected carefully.
It also may have been damaged in transit. I purchased a coin in an NGC slab and a corner got crushed while in the mail. If that's the case, and the coin was insured through the post office, you can file a claim for the amount reholdering will cost.
I'd probably keep it too, but like Vess says, if you were trying to sell that one plus an undamaged one, which one would sell for more? That makes me mad because so many people on this forum says to buy the coin, not the slab, but obviously the slab does make the difference.
My general rule, and it's the general rule of many others, is that if you don't like your coin the day you first get it, regardless of the reason, you'll probably never really like it. In other words, if it bugs you today, it'll likely always bug you. Reholdering is pretty easy, but pretty expensive. Last I seen is that it's $10 per coin. But if it's the only coin you're reholdering, you must also pay an $8 charge on top of that for the submission and then shipping to and from PCGS. You also need to be a member of the PCGS collector's club to submit it. If you go to any major shows where PCGS grades at the show, you may be able to take it there and get them to do it at the show for you if they aren't too busy (which saves you shipping both ways). If they won't do it then your next best bet is to have a dealer who regularly submits coins do it for you along with other coins so you don't get hammered by the shipping fees. If none of that sounds reasonable and you know the cracked slab is going to keep bugging you, either insist the dealer you bought it from get the coin reholdered (or at least pay half), or just return it.
I would keep it, Sounds like you really had to work to find it, And if it bothers You that much you could always get it reholdered
Well, it's time for the ole cliche - "Buy the coin, not the slab!". Although, this expression is usually reserved for ignoring the grade designated, I think the issue is easily remedied through a reholder when you are ready to do so. If it were me, it would not stop me from buying the coin.
If it isnt something that actually effects the coin,I dont worry about it.its like worrying about the bag/sleeve that holds your tire jack.
I would say the slab makes A difference! I don't know about PCGS but an NGC rep told me NGC looks at the coin for grade when you re-holder so there can be some risk.
I think you can buy a cheap generic slab yourself to place it in but I would still mention it to the seller. Whether you decide to return it or not that guy needs to know that it's not cool to sell a coin in a krappy holder. Would I return it? It depends, if I could live with just taking it out of the holder yes, but if I wanted that MS63 and the T-2 designation, then I would send it back. It's not being petty at all and I know some ppl may say oh it's the coin he's selling but that's not true. He's selling a slabbed coin and the slab is defective and he didn't mention it. send it back, or at least come to a compromise with the seller as it was his dishonesty that created this grief.
I would say,Buy the coin,not the holder.I have seen some of the most beautiful coins in the most crappy looking holders.We are "coin" collectors right? not coin "holder" collectors.as long as it can continue to do its job,which is keep the coin from getting damaged.does it really matter? ever bought a can of corn that had a dent in the can,or did you worry the corn was bad because of the dent? thats just me.But thats just me.
"Well, it's time for the ole cliche - "Buy the coin, not the slab!". Although, this expression is usually reserved for ignoring the grade designated, I think the issue is easily remedied through a reholder when you are ready to do so. If it were me, it would not stop me from buying the coin." The coin is for your collecting ENJOYMENT, not a piece of hard plastic. I am no fan of the slab nonsense. I would keep the beautiful coin and crack out the crappy slab.
I greatly appreciate all the sound advice. Just when I had decided to keep it, I showed it to my 7-year-old son (the future beneficiary of my collection). The first words out of his mouth were not the usual "nice coin" or "Is that silver?" but "look at that crack!" So, it's going back for a refund. The quest for that 1972 Type 2 Ike continues... Thanks again! TC
That was a good move. Based on your initial post, you were obviously bothered by it. I've got a couple of coins like that (make that a lot) and my eye always goes directly to the point of irritation. Good move. I hear there is more than one of those Ikes!!!
