Misadventures At the TPG, Or How they Increase Profits

OK, I am a collector and not a dealer who does use but does not always like the major TPG services.
At the Baltimore 12 weeks ago, I left "orders" with both of the major TPGs. One of course has not yet graded the coins even though they were on a higher tier. The second has, BUT, sent me an email saying a 40 year old coin (actually quite rare) provisionally graded Proof 68 Deep cameo but recommended restoration services....
That sounded a bit crazy as the coin was pristine when removed from the original TPG and carefully sent to them sans ANY toning, accretions, etc. edited me popped for the extra charge.....Well, lo and behold, they "conserved it" and now grades 70 Deep cameo. I am thinking this may become a more routine procedure as they've done it before (actually I've heard worse).

Will send post pictures on delivery of coin.

 

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Nice, but will it say on the slab that it has been "conserved" ?

 

Not on this one as I have their picture of the coin in slab. So pay the money, get your two points bonus.

 

And now you know why I self slab if raw...or buy already slabed specimens. Try paying for a variety and being told ah no! It isn't the variety...after the expert on that series sez it is....!

 

Sounds like extortion............or paying for indulgences.

 

I'm happy for you that it grade up and think the cost was worth it, especially it you plan to sell it in the future.

 

The whole purpose of "conservation" is that it doesn't look conserved!

 

True is that. But part of my point is that the coin had no residues or issues, at least in my humble opinion, prior to sending it in.
Some years ago I had the other service grade one that was the equal and it graded 67 DC (still have it, hoarder that I am) - I'd challenge any to grade one different from the other.

 

Obviously the first TPG is PCGS and the other NGC. I wonder what NGC found on the coin to recommend conservation? Obviously is was a minor speck of something on the coin that dropped their evaluation to 68.

 

What it comes down to is whether you trust the TPG or not. You trusted them enough to send it in, too bad you didn't take pictures before, but I wouldn't argue too much with a 70 instead of a 68.

 

"Does this coin look cleaned"

"No"

"Then it's not cleaned"

 

I've had two of these recommendations before from NGC. One coin had light gold toning but maybe NGC thought it was hazing that obscured the cameo? The other coin did not have anything major that I recall. I had one coin that did add some haze while at NGC (when they were taking a super long time to grade last year) but curiously they did not offer any conservation for that one.

 

I wanted the coin certified for probable later sale and didn't mind that much the 68, but when they say [whatever it is] 25 USD will get you another 2 points I can't really say "no".
And also, I have seen coins graded 70 by both services that are not, but since they make the labels you pony up the money. Again the 67 coin is easily the equal - prob will be at the Baltimore show if anyone wants to see...

 

[Under his breath]

So you 'paid' for a '70 holder.

 

Bull hocky! Just another means of taking advantage of the collector.... if you clean the coin its cleaned... and detailed....if we do it its conservation.
So to me its like buying a new car....then the dealer saying oh you wanted wheels with that?
Give me a break...

 

No thats not what happened. Coins are conserved every day. There was something theres whether the submmiter saw it or not, very easily could have just been a light haze which usually the email asking you tells you the issue. The payment is for the conservation which may or may not increase the grade. There are many instances of a failed conservation that even lowered the grade from a mistake.

I seriously doubt they ever said it would get you another 2 points and if they did you should make an issue out of that everywhere as they would no longer be a reputable TPG. What almost certainly happened was they said something along the lines of it was recommended as it could improve the look which MAY improve the grade which is what they have essentially said in the past

 

They certainly don't tell you the potential grade (unless something changed recently or there was a mistake). All I've ever seen in the email is the current grade and a message saying they recommend conservation (with no guarantee of a better grade).