Response to Comments from "State of Coin Grading" Video - Plus, Example of What We're Talking About

[@stevedietrich8936]

The grading company should absolutely "make you whole" by refunding your shipping costs when you have to send something back to them to get the label corrected. To not do so generates ill will on the part of the owner of the coin. To not do so is just sloppy business.

[@silvadelshaladin]

OR at the very least give you a credit for the next time you grade with them for that shipping cost.

[@P8822]

I have had label errors with both NGC and PCGS. Both sent me a mailing label (via email) and shipped the corrected coin back to me at their expense. I had to complete a fair amount of paperwork, send photos, and follow emails, but they did the right thing to fix my coins. I realize others may not have had the same experience. I got a good response by calling on the phone, getting the correct procedure(s) and being polite. Good luck to those with similar "Mechanical Error" problems.

[@silverfingerthesilverstack5062]

The only slab I trust is lighthouse 2x2 self adhesive folders with my own writing on them.

[@johnsaia9739]

Sure for lower value coins that is fine, but for just the authentication on higher value coins, slabs are the way to go.

[@doughensley6202]

Nobody should trust anybody to grade except the gradibg companies. I dont trust anyone.

[@4.5flips]

I love seeing unc 1883 s morgans in flips claiming to be 64, when they are barely a 62

[@TreasureTownCoins]

Interesting follow ups!

[@TJO1913]

Sage advice. As I spend more time in the hobby I try to place less 'value' on the numerical grade vs. the eye appeal of the coin (in my subjective opinion). The result is a better collection overall; one that I'm satisfied with, not just a complete set of a particular coin in MS (##). Its been an enjoyable learning experience. BTW you get my daily vote.

[@ljvv5102]

So for modern coins I will be happy with my MS69 1995 W Silver Eagle and not worry about trying to upgrade to MS70 when I cannot tell the difference. Thanks for your support in helping me understand some of the grading issues we all face today.

[@bbartlow0307]

What kills me is the expense, from overpriced shipping to the extra submission fees for using a different formn (which they require) to the mandatory "membership". What a racket.

[@jamesgoss1860]

I saw a coin in a PCGS slab that was labeled "AG Details" when it should have said "AU Details". There's a huge difference between AG and AU, obviously a labeling mistake. It makes me wonder how many times the graders type in the wrong grade on the slab and the owners just chalk it up to a conservative grade. How many MS63 were accidentally given MS62, for example.

[@josefigueroa3930]

Conservative grade? A ag vs au theres no way that was a mistake Forsure but the collector probably keep it in the holder as a error holder which those are hot with other collectors who are fans of grading companies

[@jamesgoss1860]

@@josefigueroa3930 AG vs AU is an extreme example, one that is obvious in being a mistake. My point is, how many other grading mistakes are there where it is NOT obvious.

[@petergraham3943]

Thanks for the 2 great videos Ben. You "hit the nail on the head" when you said buy what you can afford. I am a collector with very specific collecting goals. I budget, study the technical aspects, and enjoy the history. My "investments" are in other (more profitable) vehicles.

[@meteoman7958]

Such good points Ben. I bought a PCGS MS63 Canadian 1914 $10 gold coin, which is much nicer than any of the 64's I've seen. The fields were amazingly clean and lustrous. Yet another reason why I don't get coins graded.

[@marshallprice8503]

Always fun with the "GRADING EXPERTS" and their companies

[@ad2902]

I have a 1879 S Morgan dollar in an NGC holder that is that is a reverse of 78. It's Graded MS62. It should be graded PL63.

[@TimeTravelersCoinExchange]

Great video Ben. Will go read everyone's comments on last video. Sounds like you got a lot of really good feedback and worth checking out.

[@TheCoinGeek]

Yeah, the viewers of our channel make it good. It's always worth reading over comments. I learn from my videos because of everyones comments.

[@WondyCoin]

11:24 This is a great video and I 100% agree here. People are paying a lot of money for numbers and even stickers.

[@lpandy21]

Nice follow up video and very cool pandas. Thank you.

[@TheCoinGeek]

Thanks.

[@josefigueroa3930]

Great advice thanks

[@TheQuickSilver101]

Anyone who buys a coin for the company name or number on the holder is missing the joy of finding a truly nice coin, regardless of the number or name on the slab.

[@chattanoogasports]

Another good video. I appreciate your honesty and being genuine.

[@TheCoinGeek]

I appreciate that!

[@johnsaia9739]

It comes down to their quality assurance plan.....if they really have one, plus the quality of the generation of new people they are hiring. This is not limited to coin grading services. When they make a mistake that is blatant like this, they should cover the costs of shipping it back and forth to you.

[@georgecoker4933]

I agree and as a small time dealer I always try to find that great looking MS63. A knowledgeable buyer will get it and be willing to pay up for it. I may have told the following in a previous comment but here goes. A couple of years ago I had the opportunity to look at some 1937-D Three Legs in order to choose the one I liked best to put in my inventory. These were from a nationally known dealer. My assistant and I were looking at the coins when my assistant stated that the one he was looking at was not a three leg. In fact it was a 1921-S. But the label clearly stated that it was a 3-leg. I stupidly did not take a picture of it for posterity and when I saw this same dealer at the next show he wouldn't allow me to take the pic. To me this is an egregious and inexcusable error. It had to go unnoticed by at least 3-4 people before it got to me. These TPGs have set themselves up as the arbiters of the hobby and there is no small amount of buy in from the rest of us. But in many ways we are still on our own and must take the initiative to educate ourselves and, if we are also dealers, our customers. I try to do this at every opportunity and I'm glad to see that you do also!

[@tekvet01]

Good information. Thanks.

[@ronsr1539]

I’ve had coins misplaced by NGC and they admitted they could not find them in emails. I finally got them back and one was heavily toned coin and none of the coins I sent in were. Since then my concern is how do I make sure I am getting the coins I sent in back? Taking pictures of the coin and sending them in also because most coins have markers will that almost guarantee I get the same coin back? I know most will probably will say you don’t have to worry about that but after that one incident I’ve been hesitant in sending anything in for grading.

[@TheCoinGeek]

We've never had NGC or PCGS lose any coins or send the wrong ones back. I know we are all humans so mistakes can be made...

[@Ontario100]

Buy the coin, not the holder. It is easy to get caught up in the plastic and not the metal. Unfortunately, if you are buying as an investment the plastic (opinion) does matter. Unless you plan to crack the coin out and try to get the opinion upgraded. That what I call it. Not getting a coin upgraded, but getting the opinion upgraded. lol If you are a collector, then buy what you like and to heck with people's opinions. Great follow up video. Thanks!!!!!

[@HJohn-xn9ub]

I have a 1957 quarter that’s labeled 1857. 😊

[@rodciferri9626]

NGC should be ashamed of themselves calling a proof a business strike and vice versa like some amateur!

[@danielhughes396]

Just so you know. Your my favorite channel.

[@TheCoinGeek]

Thank you!

[@carlswink4963]

I have a question about a coin I found .I need someone to look at it but I do not trust no one with it.It is a mule coin that has not been found yet

[@rodciferri9626]

Not sure about NGC, but PCGS has plenty of coins I've seen in holders that have grades several times higher than they would give a similar coin today (or body bag). It's obvious the founders were really generous in grading the coins each of them and their cronies owned - it's embarrassing.

[@johnsaia9739]

ARRRRRRGGGHHHHH!!!! We don't use nor have had minted at the US MInt ANY PENNIES!!!! We use cents, 100 to a dollar! JAmacianme crazy! :D

[@TheCoinGeek]

We also don’t make nickels - Just sayin’ 😊

[@johnsaia9739]

@@TheCoinGeek True, not called as such, but the nickel refers to the metal really back when we had half dimes and nickel 5 cent pieces circulating at the same time. The term "nickel" is akin to what my parents still call "silver" or silver change. The Penny was a British unit of Pound Sterling originally 240 of the to the pound and now with decimalization 100 New Pence to the pound after 1971. A hold over term from colonial times that refuses to die! LOL!

[@markmyers7560]

How much are they paying graders?

[@coreynagle804]

i bough a 1955/55 lincon wheat cent for XF 45 price I had my LCS send it to PCGS it came back yesterday as a AU 55 it shouldnt be a 55

[@jeemalsoknownasjimhawkins1294]

Ben: Once again, a VERY informative video. This is the type of education that would take someone decades to acquire and you are sharing it for free. YOU RULE! Cheers.

[@beastmodeforever86]

Oh ya this is a epidemic, it's seems like it's happening all the time now. You have to wonder how many of your coins are actually improperly graded and is possibly higher in grade. I almost never see over graded coins in slabs, its almost always under graded. Great video

[@adamm2716]

now you got me nervous to send my coins to either of them, i have one coin if its graded correctly it should be ms65 or ms 64+ , but the difference in price between grades is 75k. either way its a great coin but i would have a heartache if it came back 62

[@ronaldhigashiyana4607]

Since it's been a year,and you send coins to both TPGs, have things impreved? I have raw key dates I want to send in, but don't want then to bung then up? Would appreciate your opinion. Thanks

[@jamesgoss1860]

Since the label is in question for that Chinese coin, can you say for sure the grade of 69 is correct? If they got MS/PR wrong and added Ultra Cameo when it was a business strike, who's to say the 69 grade wasn't wrong too?

[@garyherrmann2846]

Ben, if you think this is bad, I own an MS-62 1878-S quarter eagle with an 1878 label. I've had this coin for quite some time and don't remember how I acquired it. The 78-S is about $100 more valuable than the 78, and I have tolerated it. I was going to get it relabeled at an ANA show one year but didn't. I anticipate some trouble than when I go to sell it. I tried once on e-bay with full disclosure, but the buyer wanted a discount to re-holder the coin. The deal fell through, and I still own the coin. Actually, I'm kind of glad I still have it because I like the coin! Check this NGC certification for 454117-004 at MS-62.

[@jeffw1267]

I saw your coin at NGC and there's definitely an S there! Maybe you could contact NGC and let them look at their own photos (it is listed as a 1878 on the label and under the description). Put the ball in their court.

[@garyherrmann2846]

@@jeffw1267 Yeah, one of these days, I'll do that and try to get them to pay the postage to Florida and back. It's only reasonable.

[@expoboy52]

I just submitted coins to PCGS for the first time yesterday. Seeing the results will be interesting I'm sure.

[@Samscoinsandheavymetal]

Hey Ben great video ! I have a 1997 Chinese silver unicorn and a bunch of pandas . They all look proof like I can’t tell if the unicorn is business strike or proof On eBay there’s several graded by NGC & PCGS. MS69 and PF69, and they look identical After numerous searches on the net I find nothing concrete telling you how to differentiate. Does anyone know for sure how to tell ? Thanks ! Disregard P in a circle for proof right ? Looking at those coins was Like playing where’s Waldo

[@JamesSmith-dp3sf]

I enjoy your videos.

[@coreymerrill3257]

Buy the coin and only sometimes the holder. As someone who is newer in the hobby, It is easy to get focused in those labels . I was just looking at two coins graded the same , one looked bad, def needs conservation to see how cameo it really is, and one looked amazing. From the same company too. To focus on the label , would mean they where the same quality ,but until the bad looking one gets a professional dipping, it has little eye appeal. It's hard to say , but the cost difference will be more than 30 to find out. I also have been looking at a Morgan dollar. It is a ms63 and I wanted 64 because I generally do see a difference in those two in Morgan dollars. This one is still beat up looking like a 63 when studied. But it has great eye appeal , frosty devices and bust. I am surprised it's not labled proof like. Which is also an odd topic. 1-2 inches for a good reflection is pl,2-4 is dmpl according to definition. You'd have to be able to see details, read reflected letters ,see a clean outline ,ect. Many don't get the pl when they are .I think the Frost / cameo like finish may lead people astray when looking for pl. So if it's mirror like and not frosty, it may not get the designation . So what is the dividing line with branch proof and dmpl? How much is dmpl mislabeled ?

[@donaldinnewmexico]

Hi Ben. Maybe it is a mechanical error when the robots that grade the coins make the mistakes. Oh, yeah, PCGS hates you.

[@kurtheffner3397]

Great, if I would have heard this several weeks ago, I would have thought 10,000 times more before sending pcgs coins for crossover and re grade, its truly scary. I mean like you said could work out for the best like the penny you talked about.

[@beverwyck1]

With all this talk about misgrading have you ever encountered coins that were severely over graded(not counting a mislabel like the penny you mentioned)? How about ones that had obvious damage or cleaning that were given straight grades?

[@josevarjas8263]

I recently had a label error by ngc. My coin is a 2 oz and the label says 5 oz. what do I have on my hands?

[@shekatagani]

Boy o' boy I'm glad I just collect American Coins!

[@castlerock7631]

Thanks for all the great videos!

[@josevarjas8263]

Too many mistakes I’m sure the result of graders being under “ quotas” they have to meet. Otherwise why? They get ten coins and immediately select 7 to be of the same grade, two of the same and one at a high grade.

[@deanwest]

Crack outs aren’t profitable? :)

[@newcentswithsomeoldcoins2051]

First