An ugly 1926 PCGS MS63 2.5 Ind. purchased on Ebay..

If downgraded, then PCGS will pay me the difference?

 

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Yes, but they decide the value of the coin. As is, the piece is not saleable and I don't see any other solution to your problem.

 

How often does this happen? How much will it cost?

 

It is very likely this will be the course of action with them paying you if the coin ultimately downgrades. PCGS charges $25 to review the coin, but you get this back if they agree it is puttied.

 

Bit time putty...I had a few $10s turn on me last decade....I know the look. argh.

jom

 

But what are the odds for that to happen? meanwhile, I'd refuse to sell this coin as an MS63. IMO...this is an AU55 coin

 

Bondo Bonzos at it again? Man, oh man, I'm glad I don't collect nuthin' more valuable than a mid grade classic commem or modern...

 

I did that 2 weeks ago...we'll see what they say.

 

Good luck! Please note that the appeals process at PCGS can easily take 30-60 days, so don't panic if they drag their feet.

 

Why did you send it in to try and get it graded lower? I would have just returned it to where you bought it, or sold it as-is. Why try and lose money?

 

The seller didn't offer a return, and I probably can't sell it sight seen for good money. My other choice was to hit the sight unseen bid at $410.

 

If you bought it on ebay the seller has to take a return. Of course I am not sure how long you have had it.

 

How long has it been since your purchase?

You may have a right to return under eBay rules.

Call them

 

The only problem is, you cannot say it is not as described. You might disagree with the grade, but it is what it is. I hate when buyers file claims like that on graded coins.

 

Yup!

 

I'm sure he is past the return privilege and PayPal arbitration period or he would have invoked those before even posting this thread. He stated, from the beginning, that he felt it was overgraded. I cannot imagine someone knowingly keeping a coin they believe to be overgraded or a problem coin when a return option is possible.

With regards to the other part of your post. I doubt you would be able to sell this piece for much more than melt, and he is likely to come out ahead by submitting it to PCGS as the guarantee will protect him.

 

I would buy it for a LOT more than melt. It is a decent grade gold coin. Not the best one, but not the worst.

 

This was my first coin purchase on Ebay. When I first started this thread it was within the 14 day return period, however the seller didn't offer any return privileges or else would have returned the coin.

 

Yes, I should have hit the market maker's sight unseen bid of $410 and just take a $80 bath.

 

I would not pay $410 for it. I see these going for $330-$360 right now.