One of the most discouraging submissions this year was returned from NGC, a sampling of Franklin half dollars graded by reliable companies (ANACS, ICG, PCI) that looked good online and even more so in my palm.
I sent them as crossovers to NGC, which refused to grade an ANACS 1959-D (hairlines) and a PCI 1961-D and 1962-D (marks). In all, six of 10 coins sent to NGC that day came back with details. I could accept three such designations; but not the ones about hairlines and marks. I just couldn't see any. (Click on any image for a larger version.)
What was going on? All three should have graded.
When you are faced with this situation, you can return the coins for reconsideration or send them to another grading company. I did the latter because I wanted to determine if PCGS saw the same flaws in these lovely coins.
PCGS reduced the grade from MS65 to MS64 of the 1962-D Franklin Half Dollar and crossed the 1961-D. Not only did PCGS holder the 1959-D half; the company also increased the value of the coin by adding the attribution FBL (full bell lines).
The lesson here is not to fear Details or Genuine holders if you honestly disagree with the designation on the label. You can ask the company to reconsider (the basis of a future column, as I am challenging a recent ANACS grade) or send your "Did Not Cross" coins to another top-tier company.
You can justify the expense under numismatic experience. If you're going to succeed as a collector, you'll have to pay your dues ... or slabbing fees.
Michael,
I have never heard of terms such as “Too many contact marks”. This is pure NONSENSE! It’s very possible that one NGC grader graded one of these examples as MS67, but the final grader determined that the contact marks warranted the grade of MS65, thus the determination of No Grade due to “Too many contact marks. If this was the case, the final grader should have assigned the grade MS65 to the coin instead of taking your grading fees without assigning the coin a grade. That is nothing but PURE NONSENSE and promotes the company’s lack of ability to do its job! This just adds more fuel to the fire about the grading inconsistencies of NGC.
-Richard Stinchcomb
Thank you, Richard. I was somewhat floored by this, too. Six of 10 came back with those or similar such designations. That said, I was pleased not only with PCGS’s grading but also on upgrade on the ANACS half. At least in this case, itt showed that grade was more important than label in crossovers at PCGS. Appreciatively, Michael
I have a question bought a franklin half on ebay 1948 PCGS MS64FBL Series 46 Coin 1 it looked real good but the pictures where not the best. I received the coin and was shocked to find it had a large dark finger print on the front and back. The coin was still in its original case. If I should resale the coin one day I probably wouldn’t get my original price. I no PCGS would not give this coin MS64 GRADE. I would like to warn buyers to ask questions before buying any coins.
This is a very interesting situation, Robert. Do you think the holder was tampered with and a lesser coin with the same year and mint put in the re-glued holder? That’s a very serious infraction.
PCGS is one of the best companies in investigating these things. It also has a spot removal program that might cover the fingerprints if the coin and holder are genuine.
I’d call 800-447-8848 and explain what happened.
I’m using the PCGS service know to see what can be done with a flying eagle cent holdered in one of its slabs. The coin has developed a green spot that keeps expanding.
Check back to Coingrader Capsule. I intend to write about this and the company’s service.
And good luck with that coin!
Thank you so much for your reply! and thank you for the number. Franklin Half 1948-p I Talked to customer service of PCGS they gave me the run a round I won’t purchase PCGS COINS any more. Customer service told me she wasn’t a grader, I had to be a member of PCGS then send them the coin if it was miss marked as a PCGS MS64FBL with the finger print FRANKLIN HALF THEY WOULD BUY BACK THE COIN. I will stick with NGC. I had asked if the print was there all along and took time to come to the surface. Answer She wasn’t a grader! If coins are graded and you pay for the xtra expense and months later they turn bad what then! Thanks Bob
Sorry about this, Robert. I’m going to place a call myself to PCGS and see what can be done in instances such as you describe. I’ll report back in the comments section below when I get a response. Generally, I like PCGS Customer Service. Let’s see if there is another solution.
Robert,
I was just on the phone with PCGS Customer Service.
PCGS says you can send back the coin based on its guaranteed resubmission service. This will entail you to do the following:
1. Go to a local PCGS dealer. You can find a list here: http://www.pcgs.com/dealers/
2. Send the coin to Professional Coin Grading Service, P.O. Box 9458, Newport Beach, CA 92658.
3. Copy the comments here to alert PCGS staff about the issue in question.
PCGS says if the coin is overgraded, it will buy back the coin or pay the diffeerence between the actual grade and grade on the label.
I realize the issue, Robert, concerning the PCGS form. On the other hand, PCGS coin dealers (perhaps the one in your locale) have an obligation to help out when issues like this arise.
PCGS’s guaranteed resubmission service really is valuable. NGC doesn’t offer the same reimbursement, to my knowledge.
You might give PCGS another chance.
Again, sorry I could not be of more help. I hope this message is informative.
Kind regards,
Michael