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Thread: Graded Gold spotting policy NGC / PCGS

  1. #1

    Default Graded Gold spotting policy NGC / PCGS

    Has anyone ever had their gold coin replaced or price refunded through the PCGS or NGC Grading Guarantee policy if the coin developed spots / toning after they already graded it.

    I know they don't cover silver spotting but from the policies I have read it appears both don't cover any spotting even on gold. It would be a tad bit ridiculous to pay a premium for the PR70 proof deep / ultra cameo first strikes for the american gold eagles ( which I really want to purchase ) or any ms70 gold coin for that matter without guaranteeing the coin is guaranteed to stay in a pristine state.

  2. #2
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    They're not a replacement company. They're a grading company. You pay for the grade. They have no control where goes. Humidity. Fire. Spots. Or clumsiness.

  3. #3

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    Quote Originally Posted by HeavyMetalIronSteel View Post
    They're not a replacement company. They're a grading company. You pay for the grade. They have no control where goes. Humidity. Fire. Spots. Or clumsiness.
    Obviously they are not a " replacement company " and if I threw the coin into a lake or set it on fire I wouldn't expect anything. If however I kept it in a humidity controlled and sealed area and the coin still altered it's appearance through absolutely no fault of my own that would to me seem to be a problem if I pay 50 USD to 300 USD extra for certain collectible coins.

    Thanks for your time.

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    I'll second what HeavyMetalIronSteel said. White spots are a chemical reaction and can take place anytime after grading. The gold strawberries (copper spots) usually are there and can be seen by the grader, once in a while they do show up later. Why waste your money on graded AGE's? Better ROI on graded Pandas and Lunars usually.
    ...be your own Health Care System... grow your own and eat well

  5. #5

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    Quote Originally Posted by digbird View Post
    I'll second what HeavyMetalIronSteel said. White spots are a chemical reaction and can take place anytime after grading. The gold strawberries (copper spots) usually are there and can be seen by the grader, once in a while they do show up later. Why waste your money on graded AGE's? Better ROI on graded Pandas and Lunars usually.
    I definitely plan to go for OMP and a few graded pandas and lunars as well but a certain AGE caught my eye even if it has less of an investment value and wanted to make sure I knew about the policy of NGC and PCGS.. I also plan to pick up a few roman coinage and some francs some sovereign down the road. Thanks again man
    Last edited by Gold Brain; 04-11-2015 at 07:47 PM.

  6. #6

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    Double post mistake.

  7. #7

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    Quote Originally Posted by Gold Brain View Post
    Has anyone ever had their gold coin replaced or price refunded through the PCGS or NGC Grading Guarantee policy if the coin developed spots / toning after they already graded it.

    I know they don't cover silver spotting but from the policies I have read it appears both don't cover any spotting even on gold. It would be a tad bit ridiculous to pay a premium for the PR70 proof deep / ultra cameo first strikes for the american gold eagles ( which I really want to purchase ) or any ms70 gold coin for that matter without guaranteeing the coin is guaranteed to stay in a pristine state.
    Its bullion and you can get what it is worth from any coin shop, you don't have to go through a grading company or get refunded by one. It is worth around spot, spots or no spots.

  8. #8

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    Quote Originally Posted by dirt weasel View Post
    Its bullion and you can get what it is worth from any coin shop, you don't have to go through a grading company or get refunded by one. It is worth around spot, spots or no spots.
    Exactly why (yet another reason) to not buy anything over bullion value as a "store of wealth" versus playing the casino of public fickleness, and perceived rarity/condition.

    If you are a numismatic collector, you should already know that you are gambling on future value, versus the future spot price of gold. That is fine, but I've talked to many numismatic collectors over the years who seem to not understand that their 5000% over spot ms 70 coin is just one drop on a hard concrete floor away from being a scratched or dinged piece of bullion value coin. (yes, I saw that actually happen at a coin shop where a lady dropped her slabbed coin on the floor, and it cracked open, coin slid across concrete floor.... bye bye her double premium instantly. Was really sad, and the coin shop owner felt bad for her, but could only offer her spot then, versus a few minutes earlier might have offered her double...) If you are buying to protect your wealth, why even gamble like that... Instead of buying a 1 ounce rare coin, why not just buy 3 ounces of maples and know that they will always be easy to sell at spot?

    Or what happens if a new stash of your collected coins is found and dumped on the collectors market? I am pretty sure that the people who own those couple "legit" gold coins are terrified that the govt will give back those 5 other coins.... overnight, you own a coin that will lose $10 million dollars of "value". No thanks
    Last edited by shades; 04-18-2015 at 04:37 PM.

  9. #9

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    To me numismatics involve coins that were put into circulation to be used as money. These coins will always have a premium over spot depending on rarity.
    Buying something like a rare Dahlonega or California gold coin will hold its value over time. But just try and get your money back from a first stike, signed, cameo, burnished, star label ms 70 "bullion"... coin good luck.
    Graded bullion is just fad created by the grading companies and shopping networks etc. much like beanie babies (in the box with the tag).

  10. #10
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    Quote Originally Posted by shades View Post
    Exactly why (yet another reason) to not buy anything over bullion value as a "store of wealth" versus playing the casino of public fickleness, and perceived rarity/condition.

    If you are a numismatic collector, you should already know that you are gambling on future value, versus the future spot price of gold. That is fine, but I've talked to many numismatic collectors over the years who seem to not understand that their 5000% over spot ms 70 coin is just one drop on a hard concrete floor away from being a scratched or dinged piece of bullion value coin. (yes, I saw that actually happen at a coin shop where a lady dropped her slabbed coin on the floor, and it cracked open, coin slid across concrete floor.... bye bye her double premium instantly. Was really sad, and the coin shop owner felt bad for her, but could only offer her spot then, versus a few minutes earlier might have offered her double...) If you are buying to protect your wealth, why even gamble like that... Instead of buying a 1 ounce rare coin, why not just buy 3 ounces of maples and know that they will always be easy to sell at spot?

    Or what happens if a new stash of your collected coins is found and dumped on the collectors market? I am pretty sure that the people who own those couple "legit" gold coins are terrified that the govt will give back those 5 other coins.... overnight, you own a coin that will lose $10 million dollars of "value". No thanks
    Sounds to me like you're describing a ricochet biscuit?

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