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<p>[QUOTE=&quot;DJCoinz, post: 326981, member: 6756&quot;]*********************</p><p>Submission of Doctored Coins – Revision to NGC Rules, Procedures and Terms &amp; Conditions</p><p><br /></p><p>&nbsp;</p><p><br /></p><p>Dear Authorized Member Dealer:</p><p><br /></p><p>In recent months, NGC has seen a significant increase in the number of deceptively doctored coins submitted for grading. A doctored coin is one which has been purposefully and unnaturally altered to lend the appearance of a higher grade. In order to protect the collecting public, our authorized dealer network and NGC’s own reputation, we are announcing specific rule changes and new terms and conditions to deal with doctored coins. </p><p><br /></p><p>1. Anyone submitting a doctored coin will receive a warning letter from NGC detailing the problems with the submitted items as well as NGC’s rules, procedures, and conditions outlined in this letter. </p><p><br /></p><p>2. Upon a second submission of doctored coins, anyone who received the initial warning letter described above, shall be subject to a 90-day suspension of their rights to submit coins to NGC. </p><p><br /></p><p>3. Should that submitter continue to submit doctored coins following the suspension, NGC may, in its sole discretion permanently suspend all rights of submission and terminate their authorized member dealer status. </p><p><br /></p><p>Please note that pursuant to our standard Terms &amp; Conditions you, as an authorized dealer, indemnify NGC against all claims, liability and expenses that NGC may incur in covering any claims as a result of doctored coins submitted by you which may initially evade our detection. NGC in its sole discretion may invoke such indemnification and the right to suspend and/or terminate the submitter whether or not the submitter was acting on his own behalf or on behalf of a third party in submitting doctored coins for grading and authentication. </p><p><br /></p><p>We believe you will agree with us that this new policy can only act towards the betterment of the numismatic community. </p><p><br /></p><p>Very truly yours,</p><p><br /></p><p>Steven Eichenbaum</p><p>Chief Executive Officer</p><p>*********************</p><p><br /></p><p>Very interesting...IMO it&#039;s a good move on NGC&#039;s part. Puts more responsibility on the dealer who submits...my only question is if this applies only to authorized dealers or does it apply to members too?[/QUOTE]</p><p><br /></p>

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