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Numismatic Guaranty Corporation Informative - Fraud Grades on Coins

Review by KevinUPS on 2007-03-09
FLORIDA -- I bought 10 Gold Eagle Fifty Dollar proof 70UCAM Graded by NGC. All 10 were regraded by the number one PCGS grading company. I had 2 services from them first their regular grading and second their Presidential Review to see if they were true 70s. Out of the 10 two were not even cross-overs which now is really a proof 68 or less. Results for the rest were seven of them were only a proof 69 instead of proof 70 and only one was a true proof 70. I emailed **names removed**. Both did not care to answer my email about an exchange, refund or partial refund. They both answered when I wrote to The Better Business Bureau but both told them that I opened all the holders with a screwdriver and may damaged the coins when PCGS opened them up to regrade them. Rick and Scott are just saying any old answers to me and the BBB because it is not in court which my lawyer says it is not worth it because of the price I paid vs to travel there and everything else. I first asked for a total refund then replacements of each coins and now which is peanuts to NGC and Rick is to just match each price I received when I sold all of them. I paid a total of $21,160.00 and now because the grades were lowered to proof 69s I only got $800 for 2 of them $725 for 5 of them and $1,500 and $1,100 for the other two.
Comments:1 Replies - Latest reply on 2007-03-09
Posted by grandma005 on 2007-03-09:
Buyer beware. why did you buy such expensive coins anyway? Coins are like jewelry. The mark up is so great, that you would have to keep them till the end of time, to realize any profit. Do you think coin dealers are going to sell you their coins at a lost. They are in it for money, just like everyone else. According to my math you only got $4125.00 for $21,160 a loss of $17,035. Why not play poker you probably would of had a better chance. I would of kept the coins. You never know the price might of went up some years from now. Anyway you would have the coins to look at.

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