Need counsel about getting PCGS to buyback my milk-spotted 2006 Reverse Proof (PF-70)

So I went to the ANA World's Fair of Money in Philadelphia today, and I showed one of my trusted dealers my degraded PCGS 2006 Reverse Proof ASE (PF-70) which has developed a small spot on the front and a very ugly, and readily apparent splotch covering the 'ST' in 'STATES' on the reverse. He examined the coin and told me this was a no-brainer, a slam-dunk if you will: 'PCGS will definitely buy back this coin because it is clearly not a Proof-70 anymore. He went on to tell me that if you ask PCGS customer service at the show, they won't help you (other than to help you fill out the paperwork and collect payment for the review option). He told me to ask for Don Willis or David Hall (the PCGS president). both of whom might be present at a big show like the World's Fair of Money. 'They are the only ones that can help you.'

My questions are two-fold: has anyone else had any luck getting a milk-spotted ASE bought back by PCGS? Second, if by some miracle they do agree to buy back my coin on the spot at the show, what would be a fair price for me to receive(what offer would be reasonable for me to accept given the current market situation)? Thanks for sharing your experiences and thoughts on this. I go back to the show tomorrow, will visit PCGS and hope for the best. But I have been told that it is extremely difficult to get the TPG's to buyback a coin (and for a fair price to boot

 

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I feel fairly sure they will buy it back, the question will be at what price. They get to decide what the "fair market value" is. And it almost certainly willbe well below what their price guide says. And it may have no resemblance to what they are actually bringing in the marketplace. They will come up with a number and that will be it take it or leave it.

 

I am pretty sure they will buy it back. Go to the PCGS booth tomorrow and let them walk you through the paperwork to be sure it is done right. Take pics of the coin as well with your cell phone. As far as estimated value, be sure to mention to them that THEIR current PCGS price guide values this coin at $585 ($600 if it is First Strike).

Good luck! :smile TC

 

That is the real risk of an MS 70 slabbed coin.

 

You should ask for nothing because....

Coins exhibiting environmental deterioration. The PCGS Guarantee does not apply to coins exhibiting environmental deterioration subsequent to PCGS grading and encapsulation. This deterioration may include, but is not limited to, spotting, hazing, PVC contamination, and corrosion.​

This is straight from their website. The damage you list, isn't covered. IMO this is the folly of purchasing a slab rather than focusing on the coin.

 

Milk spots on ASEs are covered under the guarantee:

http://www.pcgs.com/Articles/Detail/5016

TC

 

I believe PCGS and NGC will cover this.