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A lesson in "Buy the Coin, not the Slab"
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<p>[QUOTE="huntsman53, post: 484284, member: 1242"]Good point! This is exactly what Catbert should have done instead of suffering a $200 loss, he may have broke even or possibly gained some in selling it to PCGS on the Guarantee program.</p><p><br /></p><p>Too often we see a coin that was graded and slabbed by PCGS or NGC that has some corrosion and we jump to the conclusion, that the corrosion must have been there when it was slabbed. This is not always the case! Many times, a coin is slabbed then after many years the corrosion develops on the coin inside of the slab. This means that the offending source (whether it was/is chemical, environmental or whatever composition) existed on the coin when it was slabbed but it had not yet had time to do it's work (damage). Since PCGS offers a guarantee against this, then we should take them up on the offer when it is appropriate!</p><p><br /></p><p>On another note, I believe that it would behove TPG's such as PCGS, NGC, ANACS, etc. to invest in developing a wash (rinse) to be used on coins that they are slabbing to rid of any offending agent. Besides this, they should also invest in a protective coating that can be applied to the coin after the wash (rinse) and before slabbing to prevent with at least a high percentage of probability, that no corrosion will develop on the coin after it is slabbed. I know that if I was in the certification and grading business and I offered a guarantee to the owner of the coin, against loss due to degradation of the coin because of corrosion, then I would want something to protect my' business against loss besides good old Insurance!</p><p><br /></p><p>Just my thoughts, so what do you think!!!???</p><p><br /></p><p><br /></p><p>Frank[/QUOTE]</p><p><br /></p>
[QUOTE="huntsman53, post: 484284, member: 1242"]Good point! This is exactly what Catbert should have done instead of suffering a $200 loss, he may have broke even or possibly gained some in selling it to PCGS on the Guarantee program. Too often we see a coin that was graded and slabbed by PCGS or NGC that has some corrosion and we jump to the conclusion, that the corrosion must have been there when it was slabbed. This is not always the case! Many times, a coin is slabbed then after many years the corrosion develops on the coin inside of the slab. This means that the offending source (whether it was/is chemical, environmental or whatever composition) existed on the coin when it was slabbed but it had not yet had time to do it's work (damage). Since PCGS offers a guarantee against this, then we should take them up on the offer when it is appropriate! On another note, I believe that it would behove TPG's such as PCGS, NGC, ANACS, etc. to invest in developing a wash (rinse) to be used on coins that they are slabbing to rid of any offending agent. Besides this, they should also invest in a protective coating that can be applied to the coin after the wash (rinse) and before slabbing to prevent with at least a high percentage of probability, that no corrosion will develop on the coin after it is slabbed. I know that if I was in the certification and grading business and I offered a guarantee to the owner of the coin, against loss due to degradation of the coin because of corrosion, then I would want something to protect my' business against loss besides good old Insurance! Just my thoughts, so what do you think!!!??? Frank[/QUOTE]
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