Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
How do PCGS & NGC “Guarantee” their grading?
>
Reply to Thread
Message:
<p>[QUOTE="Conder101, post: 5386651, member: 66"]And when they decide on a FMV it is a take it or leave it proposition. A few years ago on another forum a guy had a gripe about a NGC guarantee. He had, if I remember correctly, a 1932 polish 5 Zlotye. This is a rare coin that sells at auction in the five figure range. He had purchased it several years previously for around $23,000. It had been slabbed by NGC as an AU details. Several years later he went to sell it and got a buyer at $28,000. The buyer sent it back as an altered date. He posted pictures of the coin an the 2 had clearly been altered. So he sent it back to NGC under their guarantee and they agreed the date had been altered. The problem was that although this coinssells at 5 figures in the real world, the standard catalog showed it for $800 and that was what they offered as compensation. When he objected to that low figure, they washed their hands of him and he got nothing.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 5386651, member: 66"]And when they decide on a FMV it is a take it or leave it proposition. A few years ago on another forum a guy had a gripe about a NGC guarantee. He had, if I remember correctly, a 1932 polish 5 Zlotye. This is a rare coin that sells at auction in the five figure range. He had purchased it several years previously for around $23,000. It had been slabbed by NGC as an AU details. Several years later he went to sell it and got a buyer at $28,000. The buyer sent it back as an altered date. He posted pictures of the coin an the 2 had clearly been altered. So he sent it back to NGC under their guarantee and they agreed the date had been altered. The problem was that although this coinssells at 5 figures in the real world, the standard catalog showed it for $800 and that was what they offered as compensation. When he objected to that low figure, they washed their hands of him and he got nothing.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
How do PCGS & NGC “Guarantee” their grading?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...