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<p>[QUOTE=&quot;GDJMSP, post: 952557, member: 112&quot;]To the issue at hand, I know nothing about the incident being discussed. What I do know is this. There have been incidents in Heritage auctions where a TPG has stepped up, stopped the auction in mid-stride, and taken the coin in question. And the owner of that coin was never consulted.</p><p><br /></p><p>What I refer to was the second auction of the 1963 PF70 DCAM cent in 2004. That particular coin had been listed for 3 weeks with steadily increasing bids. By the day the auction was to close the bid had reached $58,000 (which included BP). At that point PCGS stepped up and told Heritage to pull the coin. PCGS then said they would pay $40,000 for the coin - and they did so. And the owner had no say in this. That left the owner out $18,000 that he would have received had the auction been allowed to conclude. But PCGS stopped it cold.</p><p><br /></p><p>Now that $40,000 just happened to be what the owner of the coin had paid for it the year before in another Heritage auction. So what PCGS was doing was agreeing to give the guy his money back, but not agreeing to allow him to make a profit. Of course had they (PCGS) allowed the auction to conclude then they would have been the ones out the additional $18,000. That is because they knew they were going to buy the coin back so they could down-grade it. They just wanted to do that as cheaply as possible.</p><p><br /></p><p>I guess my point in all this is to show that these kind of things do happen from time to time. No, the situation I described may not be exactly the same as what Garret is describing - but it&#039;s pretty dang similar if it isn&#039;t.</p><p><br /></p><p>So Chris - it happens.</p><p><br /></p><p>Garret - you say you hate NGC because of this incident that you described. Do you now also hate PCGS because of the incident that I have related to you ? If nothing else what PCGS did was far worse than what NGC did, from a monetary point of view.[/QUOTE]</p><p><br /></p>

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