Getting the same coin back from NGC, PCGS

Is there anything that you folks do to insure that you get the same coin you submit back from NGC or PCGS? With the thousands of coins these companies grade, they must make several mistakes. If the people you talk with that have years and years of experience in grading coins, tell you that you have a particular grade coin, can you be sure that you receive the same coin you submitted? I have never sent a coin to be graded, but I have purchased slabbed coins for my collection. I do prefer the original mint packaging for things such as proof sets. Do you by chance photograph coins that you submit? But then again, that is not real way to be sure.

Thank you, Jim

 

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You can photgraph them if you want but you can be sure that you will get your coins back....its a thing called ethics....if they don't send back your coins they are at risk a lot more than just you.....

Speedy

 

I wonder if the employees at the TPGs are bonded?

 

jobs

how to become a pro grader or being hire by them?. is there any training for that or school?. how much do they get or salary?. since we like coins. it much be good to work there.

 

Yes

Yes, mistakes are made. I can't elaborate right now because I'm currently trying to get one resolved, two actually, so please don't ask for any details right now. I'll post a follow up when everything is resolved. :desk:

 

I think what you mean is can they collect??
I think ICG has it so their graders can't buy or sell coins...but I think the other Co. let them...

I really wouldn't want to work as a grader...#1...there isn't a school of grading but they do give you a pretty hard test I hear....and you have to be good to pass it....I wouldn't have any idea on salary...
Good to work there??...for some people maybe...for me...nah....I wouldn't mind working for a coin Co. and buying and selling...but grading coins all day long for a grading Co. wouldn't be my cup of tea......

Speedy

 

Not necessarily so Speedy, for these reasons. When it comes to push, it's you against the larger and more influential company lawyers. You can holler your head off all day long about this or that, and their lawyers togather with their favorable press will beat you every time.
Does this ever happen? You bet it does, and the individual almost never wins the contest. The large companies 3PG'ers have too much at stake to let this get popular.

 

Thanks to everyone for the replies. I still would always worry about getting my coins back. How could you ever prove such a thing. There really should be a way we as collectors could check up on these people. Maybe test them with a few submissions. I realize one grader may see a 70, while another grader equally qualified may see it as a 69. Does anyone know if the 3PGr's pay any money to PNG, ANA, etc., to have their names listed on the rear of their slab? Can't be fee of charge. If they pay them for the right, that's no guarantee to us collectors. I have purchased raw coins at shows and from local dealers, and they tell me that the coins I purchased would be nice coins to have graded. I must admit they are beautiful coins. That's what attracted me to them. The coins seem to stand out from the other coins of the same type they had for sale. I am just not sure I trust 3PGr's. There is so much scamming, ripping-off and down right lying going on in everything else, I am not sure I will ever trust them. Just my opinion. There must be someone in one of these companies who has returned a 69 coin to a customer for the customer's submitted 70 coin. I can't believe it does not happen. I know they have a lot of money invested in their organizations, and they are not going to scam just little ole me, but again, how could you ever catch them? Getting off my soapbox now.

Again thanks to everyone. Jim

 

No. What I wondered is if the employees of the company were required to be bonded, a form of insurance against fraud that is purchased by the company on their own employees. Bank employees, for example, are normally bonded. This provides an incentive for them to remain honest. A good bonding company will chase them down to the ends of the earth through all eternity if they are suspected of a misdeed to, as the saying goes, "bring them to justice." Employees who are bonded and know it have an additional incentive to remain honest.

 

I would agree with that...but I haevn't heard of it happening...and I would think the collector that it happened to would get it out somehow...
That being said...I have never had a problem with any I have sent in....

There is a fee but I think the Co. has to pass the test that PNG give out every year...the PNG from what I read is hard on people who do fraud and the like...

I know how you feel because I have thought along the same lines...but I see no problem...I have send in a good number of coins and they all came back right...you have to trust somethings....we trust things everyday...the chair we sit in...the car we drive...etc...and business's to have what we need....as I said before....I think they are going to be sending you back the same coins....I would suggest trying them out on a few coins....ones that have a mark where you can tell that it is the same coin...take a photo and keep it...send it in and see what happenes.

I don't think so....they would lose their job....they are collectors just like me and you and they know how people feel about their coins....

Again...I know what you are thinking...talk to a dealer around you...I know that where you live there are some good dealers that would be able to help...in fact I think the President of the PNG lives over there...maybe you can talk to him

Speedy

 

Answering a bunch of different people's questions at once:

Is there anything that you folks do to insure that you get the same coin you submit back from NGC or PCGS?

There is no need to worry about this. They are not going to steal the coin from you and replace it with a lower value one - at least not the real grading services. These companies make a LOT of money grading coins and the cost of doing this to even one person would be MASSIVE in the amount of revenue lost thanks to the people who wouldn't submit.

Now, it is possible the dealer you are submitting the coins thru is switching the coins before being graded, but that is another matter. I know for a fact this has happened, but it is very rare and you can submit directly to all the major services with a little paperwork and avoid this potential problem.


With the thousands of coins these companies grade, they must make several mistakes.

Sure they do. I've heard of coins being returned to the wrong submitter and coins lost and damaged at the grading service. They will pay for thier mistakes should they make any. It's all a cost of doing business.


I wonder if the employees at the TPGs are bonded?

While I don't know for a fact, I'm 100% positive that the insurance policies these companies have cover dishonesty by employees. I'd also suspect that the grading companies do background checks on all the people who work there.


how to become a pro grader or being hire by them?

If you have the skills, call them up and tell them you'd be interested in a job grading. If you have decent qualifications/resume they will either meet you at a show or fly you out there to meet and test you.


is there any training for that or school?

Training? Other than years of experience, no. School? There are ANA classes that can help you learn how to grade, but won't make you a pro grader.


how much do they get or salary?

Depends on several factors, like skills (what can you grade), demand for your services, and your name in the industry. It can be in the low $30,000 area for the bulk modern graders. It goes up from there. $100K+ for the better graders.


Does anyone know if the 3PGr's pay any money to PNG, ANA, etc., to have their names listed on the rear of their slab? Can't be fee of charge. If they pay them for the right, that's no guarantee to us collectors.

I'm a little unsure what you are asking. If you are asking does the grading companies pay the ANA & PNG to use their logo on the back of the slab? If so, yes. Currently NGC is the "grading service of choice" for the ANA & PNG. This is a paid endorsement. Same as it was when PCGS had the endorsement. It's up to the highest bidder of the qualified grading services.


There is a fee but I think the Co. has to pass the test that PNG give out every year...

The test is their check clearing.


There must be someone in one of these companies who has returned a 69 coin to a customer for the customer's submitted 70 coin

Why must there be? The value of doing something like this is small. The potential cost is very large. Sure, it is possible. It's also possible that animals can talk, but just don't around humans. Don't count on it. At least at one grading company, there is video going non-stop and you coin can be tracked at all times it is in the building. I'd suspect other grading services have similar abilities.


they are collectors just like me and you and they know how people feel about their coins....

Many people (the non-graders) are not coin people.

 

This is a great website! I thank everyone for all their information. I do like the suggestion that I send in a few coins with a mark or blemish on them. Coins that I will know are mine when they are returned.

I know that all lot of the folks that participate on this website belong to organizations that let them submit coins directly to the grading companies. Any suggestions on what organization I should join for the best value? Thanks, Jim

 

Best value? That depends on what you are looking for and what you are going to submit.

ANACS

• Can be a great value since it costs only $10 per coin no matter what type of coin.
• They grade problem coins.
• They accept submissions from the public.
• Grading is fairly consistent especially with circulated coins.
• Turnaround time is pretty poor.
• The marketplace doesn't value their grading very highly. However, they are good graders.
• Poor customer service, but with James Taylor going there, I'm sure it is going to get much better.

NGC

• Prices are good, but not super.
• You have to join their Collectors Society ($99/year with some free submissions) to submit or use an Authorized Dealer.
• Their grading is valued highly in the marketplace. Especially true for classic US and all foreign.
• Grading is consistent.
• Turnaround is good.
• Great customer service.

PCGS

• Prices are high.
• You have to join their PCGS Weenie Fan Club ($99/year no free submissions) to submit or use an Authorized Dealer.
• Their grading is valued highly in the marketplace. Especially true for moderns.
• Grading is very inconsistent.
• Customer service? What customer service? We're PCGS and we don't need no customer service. Drop dead loser!

ICG

• Prices are too high considering the added value.
• You have to join their Fan Club ($20 with some freebies or something like this. Not even sure you have to pay anymore to join) to submit or use an Authorized Dealer.
• Their grading is poorly received in the marketplace. Especially true for moderns. However, their reputation seems to be improving, but it's got a long way to go.
• Grading is somewhat consistent - overgrades moderns, can be OK on classics.
• Turnaround is good. They have a new guarantee that you'll get your US coins back in 7 business days or you get freebies.
• Great customer service.

If you're interested in submitting to NGC or ICG without having to join their clubs, let me know as I've got dealer accounts at both and I'll be happy to submit them for you.

 

I disagree....(This is ANACS I'm talking about)...if you use their 5day service you get them back fast...if you use the slow service..what do you think will happen...you get slow service--I hear PCGS is just as slow at sometimes...

Speedy

 

True, and if you use their 2-day service you get them back even faster.

However, I was referring to just the regular service, which for ANACS takes a LONG time. The 5-day is one of their Express services tiers.

As for the ANACS Express tiers, their turnaround is OK (and great considering the price), but still not as fast as NGC or ICG. NGC Express is 2 days and I've had several finished in one day. ICG uses 5 days like ANACS, but I do question how ANACS counts the days. I overnight them my express submissions and I don't think they start counting the days until the day after they pick them up, even if they received them early in the morning.

 

I'll try to ask Mr Taylor when I talk to him next month...but I think it counts when the box is opened.

Speedy

 

The discussion of how long it takes to get the coins back from TPGs reminds me of a friend of mine. I was over his house when he was reading the directions on microwaving a prepared meal and said, "Six minutes! Who's got that kind of time!?!"