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How do PCGS & NGC “Guarantee” their grading?
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<p>[QUOTE="GDJMSP, post: 5394769, member: 112"]Greg I don't deny that they pay out on their guarantee. I won't even deny that they sometimes pay out what the owner paid. But that doesn't change the fact that the majority of collectors over-pay for coins. And all those folks, they don't get what paid. And PCGS would be stupid if they did it - and they may be a lot of things but they aint stupid !</p><p><br /></p><p><br /></p><p><br /></p><p>Not in the least eddie ! First off you'd have define which price guide, I think they have 3 of them. And only 1 of those is supposedly based on realized prices. Thing is - what prices, where do those sales number come from ? Some are auctions, but many are private sales - and both private and auction sales are full retail. And those price guides, those have only existed for a few years. The other, older PCGS price guide - it's infamous for pretty much always being way higher than what realized auction prices are.</p><p><br /></p><p>And PCGS doesn't pay out based on full retail - they pay out based on what a dealer would pay for the coin. And dealers don't buy at retail ! And by the way, PCGS picks which dealers they want to use as a source - and which ones they don't want to use.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 5394769, member: 112"]Greg I don't deny that they pay out on their guarantee. I won't even deny that they sometimes pay out what the owner paid. But that doesn't change the fact that the majority of collectors over-pay for coins. And all those folks, they don't get what paid. And PCGS would be stupid if they did it - and they may be a lot of things but they aint stupid ! Not in the least eddie ! First off you'd have define which price guide, I think they have 3 of them. And only 1 of those is supposedly based on realized prices. Thing is - what prices, where do those sales number come from ? Some are auctions, but many are private sales - and both private and auction sales are full retail. And those price guides, those have only existed for a few years. The other, older PCGS price guide - it's infamous for pretty much always being way higher than what realized auction prices are. And PCGS doesn't pay out based on full retail - they pay out based on what a dealer would pay for the coin. And dealers don't buy at retail ! And by the way, PCGS picks which dealers they want to use as a source - and which ones they don't want to use.[/QUOTE]
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How do PCGS & NGC “Guarantee” their grading?
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