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How do PCGS & NGC “Guarantee” their grading?
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<p>[QUOTE="johnmilton, post: 5385685, member: 101855"]The grading question is tricky. Remember that grading is an <i>opinion, </i>and opinions differ. Therefore trying to get compensation for grading is the most difficult area from which to collect from a claim.</p><p><br /></p><p>Less controversial is the question of altered coins. Years ago a woman purchased a better date St. Gaudens $20 gold coin that had puttied. Puttied coins have had surface scratches filled in with a substance like Bondo. The repaired area is covered with gold color. The coin might look good for a while, but eventually it looks like this. </p><p><br /></p><p>[ATTACH=full]1231055[/ATTACH] </p><p><br /></p><p>The woman filed a claim with PCGS. At first they rejected the claim, but then she went public. PCGS reversed their decision and paid the claim which came to something like $15,000. </p><p><br /></p><p>I had a similar experience with a gold coin that had been treated with iodine. Coin doctors use it to make gold coins into "toners." PCGS accepted my claim and offered me the choice of compensation for a lower grade or an out right purchase of the coin. Here is the piece in question. </p><p><br /></p><p>[ATTACH=full]1231056[/ATTACH] [ATTACH=full]1231057[/ATTACH] </p><p><br /></p><p>It is quite possible to coins which have been puttied or treated with iodine can get straight grades, probably at lower levels, once the substances have been removed.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 5385685, member: 101855"]The grading question is tricky. Remember that grading is an [I]opinion, [/I]and opinions differ. Therefore trying to get compensation for grading is the most difficult area from which to collect from a claim. Less controversial is the question of altered coins. Years ago a woman purchased a better date St. Gaudens $20 gold coin that had puttied. Puttied coins have had surface scratches filled in with a substance like Bondo. The repaired area is covered with gold color. The coin might look good for a while, but eventually it looks like this. [ATTACH=full]1231055[/ATTACH] The woman filed a claim with PCGS. At first they rejected the claim, but then she went public. PCGS reversed their decision and paid the claim which came to something like $15,000. I had a similar experience with a gold coin that had been treated with iodine. Coin doctors use it to make gold coins into "toners." PCGS accepted my claim and offered me the choice of compensation for a lower grade or an out right purchase of the coin. Here is the piece in question. [ATTACH=full]1231056[/ATTACH] [ATTACH=full]1231057[/ATTACH] It is quite possible to coins which have been puttied or treated with iodine can get straight grades, probably at lower levels, once the substances have been removed.[/QUOTE]
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How do PCGS & NGC “Guarantee” their grading?
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