NGC Terms, Conditions and Descriptions

Thank you for your interest in Numismatic Guaranty Corporation certification. The following links are provided to familiarize you with terms and descriptions that might appear on the NGC certification label and the general terms and conditions on which NGC does business. The information below is provided by and maintained by NGC and may be updated periodically to reflect current terms, conditions and descriptions.

Service Terms and Conditions
Guarantees Descriptions and Designations
Consumer Awareness
NGC Edited / Stock Images Policy
Glossary of Collecting Terms
Contact


Service Terms and Conditions:

These terms and conditions apply to the services (“Services”) ordered by you (“Customer”) and described in the “Ordering” section of this submission form (“Submission Form”):

1. The applicable member of the Certified Collectibles Group of Companies to which this Submission Form is submitted (“Company”) will use commercially reasonable efforts to perform the Services in accordance the then-current description of such Services, and within the timeframes, set forth on Company’s website. Customer is urged to refer to the Guarantee on the website to understand the benefits and protections afforded to Customer and the limitations applicable to the Guarantee.

2. Company’s sole and exclusive liability and Customer’s sole and exclusive remedy for Company’s failure to comply with its obligations under Section 1 of these terms and conditions shall be pursuant to the then-current applicable guarantee (“Guarantee”) for such Services set forth under “Coin Grading’ on Company’s website, the terms of which are incorporated by reference herein.

3. Customer agrees to pay Company all Services fees at the time of submission. If payment is being made by credit card, Customer agrees that Company may charge all Services fees to the credit card upon receipt of this Submission Form. Unpaid balances shall accrue interest at the rate of 1.0% per month until paid. Customer hereby grants to Company a security interest in the items submitted to secure payment of any Services fees.

4. Company has the right in its sole discretion to reject any items submitted for Services in cases where the submitted items do not comply with Company’s then-current standards and procedures set forth on Company’s website. Because Company must still receive, track and examine each rejected item, fees for Services shall not be refunded for such rejected items.

5. Company will use reasonable care with respect to items submitted to it for Services. However, in the event that Company determines that an item was lost or damaged while in Company’s possession, Company will compensate Customer based upon Company’s good faith determination of the fair market value of the item, in light of what Company believes to be reliable current market information. The amount of the compensation will not necessarily be based upon, but in no event will exceed, Customer’s stated insured value of the item set forth in this Submission Form.

6. Customer must inspect all items immediately upon receipt from Company. Company shall have no liability for any damage or errors unless reported to Company within five (5) days of Customer’s receipt of the items.

7. Customer agrees to return to Company, at Company’s expense, any item bearing a clerical error for which Services have been provided by Company. Company will, at its expense, correct the clerical error and return the corrected item to Customer. Customer agrees to indemnify, defend and hold Company and its affiliates, and all of its and their respective employees, officers, directors and agents, harmless from and against all claims, liabilities, and expenses (including reasonable attorney’s fees) relating to or arising directly or indirectly from Customer’s failure to comply with this Section 7.

8. Customer shall complete all submission information on the Submission Form, and package and ship all items, in accordance with the instructions on the Submission Form. Customer represents and warrants to Company that the insured value set forth on the Submission Form represents Customer’s good faith belief as to the market value of the item.

9. EXCEPT FOR ANY EXPRESS WARRANTIES SET FORTH IN THESE TERMS AND CONDITIONS, COMPANY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, REGARDING COMPANY AND/OR THE SERVICES, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THE APPLICABLE GUARANTEE, THE MAXIMUM AGGREGATE LIABILITY THAT COMPANY SHALL HAVE TO THE CUSTOMER, OR ANY THIRD PARTY FOR WHOM THE CUSTOMER MAY BE ACTING, ARISING FROM ANY CAUSE, ACT, OMISSION OR OTHER CIRCUMSTANCE, SHALL IN NO EVENT EXCEED THE SERVICES FEE OR FEES PAID BY THE CUSTOMER FOR THE SERVICES ORDERED PURSUANT TO THIS SUMISSION FORM. IN NO EVENT SHALL COMPANY OR ANY OF ITS AFFILIATES, OR ANY OF ITS OR THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS OR AGENTS, BE LIABLE TO CUSTOMER OR ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE, AND EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THE APPLICABLE GUARANTEE IN NO EVENT SHALL THE AGGREGATE LIABILITY OF COMPANY, ITS AFFILIATES, AND ANY OF ITS OR THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS OR AGENTS, EXCEED THE FEES PAID OR PAYABLE TO COMPANY FOR THE SERVICES.

10. Company compiles data regarding, and makes digital images of, items submitted for Services. In partial consideration for the performance of Services by Company pursuant to this Submission Form, Customer hereby authorizes Company to compile such data and make such images and agrees that Company shall have an irrevocable, non-exclusive, perpetual, unlimited, royalty-free right and license to use and commercialize such data and images for any purpose.

11. If any items are being submitted for a third party, Customer represents and warrants that the third party has authorized Customer to submit the items to Company for the Services.

12. The laws of Florida without regard to its choice of law principles shall apply to transactions and/or disputes between Company and any Customer. Each Customer agrees to (1) the exclusive jurisdiction and venue for any dispute of the state and/or federal courts located in, or serving Sarasota County, Florida; (2) not challenge such jurisdiction or venue; and (3) accept service by certified or registered mail.

13. These terms and conditions, including the applicable Guarantee, constitute the entire agreement of Company and Customer (and any third party for whom Customer may be acting) regarding, and supersede all prior agreements and understandings (written or oral) between or among such parties relating to, the subject matter hereof; however, any existing dealer or collector agreement between Customer and Company shall remain in effect, and the terms of such agreement(s) are hereby incorporated by reference. In the event of a conflict, these terms and the current applicable guarantee shall prevail. If any term or condition is determined, by a final and non-appealable ruling or order of a court of competent jurisdiction, to be invalid or unenforceable under applicable law, such invalidity or unenforceability shall not affect the validity or enforceability of any of the other terms and conditions hereof.

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Guarantees


NGC Coin Grading Guarantee

The following guarantee is applicable to NGC graded coins and NGC Details graded coins that are encapsulated in NGC holders. Note that this guarantee does not apply to coins submitted for the following specialty services: NGC Ancients, NGC Certified Gold, NGC Authenticated Bullion, and NGC Shipwreck Certification, which are subject to guarantees specifically applicable to those services.

  • All US and World coins and all tokens and medals certified and encapsulated by NGC are guaranteed authentic.

  • The grade of all coins certified by NGC is guaranteed, with the exception of Details graded coins, which are guaranteed to be authentic only.

The owner of any NGC-certified coin believed to be over-graded or not genuine may submit it to NGC under our Appearance Review service.

If, in NGC’s sole opinion, the grade determined under such review is ultimately lower than the grade originally assigned, NGC will provide one of the following three remedies, subject to the limitations set forth below:

  • NGC shall purchase the coin from the submitter at its determination of the current market value (see below) for an example of that coin which is correctly graded at the original grade level assigned.

  • NGC shall exchange the coin in question with an equivalent coin at the original higher grade.

  • NGC shall return the coin to the submitter at the correct lower grade and pay the difference between the current fair market value (see below) of the coin at the newly established grade and the current fair market value of the grade originally assigned to such coin.

Further, in fulfillment of the NGC Coin Grading Guarantee, NGC may request and submitter shall be required to provide information regarding the transaction history of a particular coin, including the date purchased, the purchase price and the transaction amount. NGC may also request that a submitter reverse a prior transaction. The submitter acknowledges that his or her inability to provide requested information and / or non-cooperation hinders NGC from fulfilling its commitment under the terms of this Guarantee, and in such cases NGC shall not be required to provide any of the listed remedies.

The remedy to be provided is at the sole option of NGC and shall include only one of the remedies described above. NGC may also, at its sole discretion, have a coin submitted under this service professionally conserved if doing so can improve its fitness for the grade originally assigned. There will be no charges assessed to the submitter for conservation service performed in conjunction with an Appearance Review.

Due to the volatile nature of the coin market and Internet auctions / sales as well as the differences in buying habits of different individuals, selling prices in these auctions / sales do not necessarily represent the current fair market value of any particular coin. Accordingly, NGC will determine the current fair market value of a coin based upon what NGC believes, in its sole opinion, to be reliable current market information. The fair market value, as determined by NGC, represents the current average dealer buying price for an accurately graded NGC-certified coin. Any coin pricing information that appears on NGC’s Web site is supplied by license from independent third parties and does not constitute the fair market value of coins for purposes of remedy under the terms of Appearance Review. NGC's determination of fair market value shall be binding on all parties.

The submitter of a coin using NGC’s Appearance Review service agrees to be bound by all of the terms, conditions and limitations set forth herein.

WARNING: THIS GUARANTEE IS LIMITED.

  • If NGC determines that an NGC-certified coin is not authentic, NGC may elect to purchase the coin from the submitter at NGC’s determination of current market value as provided above. In that event, the amount to be paid to the submitter for the purchase shall not under any circumstances exceed the amount paid for the coin by the submitter in an actual arm’s length transaction, plus any postage, shipping or other incidental expenses incurred by the submitter in submitting the coin for grading by NGC.

  • The NGC Coin Grading Guarantee does not apply to coins that have been removed from their NGC holders.

  • The NGC Coin Grading Guarantee does not apply if the NGC holder has been damaged, unsealed, tampered with or altered; such determination which shall be at the sole discretion of NGC.

  • The NGC Coin Grading Guarantee does not cover coins which have been graded by NGC but then are subjected to abuse, alteration or improper storage conditions such as (but not limited to) extreme temperature, moisture, damaging environmental conditions, excessive light, excessive motion or vibration or any other extreme conditions. NGC shall make the sole determination as to whether environmental factors have contributed and as to the existence of "extreme conditions.”

  • The NGC Coin Grading Guarantee does not apply to copper, bronze or copper-nickel coins graded by NGC prior to April 1, 2000.

  • To the extent that the NGC Coin Grading Guarantee applies to copper, bronze or copper-nickel coins, such Guarantee expires on the 10-year anniversary of their date of encapsulation by NGC.

  • Attributions, including variety attributions, reference attributions and pedigree attributions are NOT guaranteed. Further, NGC does not guarantee that a particular variety or designation will always be recognized, and attribution policies are subject to change without notice.

  • Release designations, including Early Releases, First Releases, and First Day of Issue are not guaranteed. If NGC incorrectly assigns a special designation to a coin it is the duty of the submitter to return that coin for correction.

  • Clerical errors, mechanical errors and typos are NOT guaranteed. If requested, NGC will remedy any mechanical error with respect to the description or grade of a coin on its label, free of charge. It is the duty of the buyer and seller of an NGC-certified coin to examine coins for mechanical errors and to return such coins for correction when warranted. The determination of what constitutes a mechanical error is at the sole discretion of NGC; examples of mechanical errors include, but are not limited to, the following:

    • If a coin were labeled a 1955 Doubled Die Lincoln Cent, when, in fact, the coin has no doubling, this would be a clerical error in the labeling description of the coin and not covered by the NGC Coin Grading Guarantee.

    • If the coin label description references a 1916 Standing Liberty Quarter, when, in fact, the coin in the holder with said label were a 1916 Barber Quarter, the description would be the result of a clerical error. Once again, this would not be covered by the NGC Coin Grading Guarantee.

    • If a coin were identified as a Proof, when, in fact, it is a business strike and the types are readily distinguishable from each other, this again would be a clerical error and not be covered by the NGC Coin Grading Guarantee.

    • If a coin were described as an 1881-O Morgan Dollar, when, in fact, it is an 1881-S Morgan Dollar and the mintmark were improperly identified on the label, this would constitute a clerical error, not covered by NGC's guarantee.

  • The NGC Coin Grading Guarantee does not cover a coin's status in the NGC Registry, including eligibility or points assigned. Changes to the NGC Registry may be made without notice, and NGC does not guarantee that a coin will always be eligible for inclusion in the NGC Registry nor does it guarantee that it will receive a certain point score.

  • The NGC Coin Grading Guarantee does not apply to coins exhibiting environmental deterioration subsequent to certification. These issues include but are not limited to spotting, hazing, PVC, and corrosion.

  • A number of countries issue coins that are enameled, colorized, painted, hologram applied or jeweled at their mint facilities as part of the minting process. The methods used to apply these additive applications vary. Some are lacquered while others are enameled to hold the color in place. Colorized, painted, hologram, and jeweled coins can, even with proper handling, before or after grading and encapsulation, lose some or all of these additive features. These additive features can chip, flake, or become dislodged. Such conditions may be due to the minting process or other natural conditions over which NGC has no control. Therefore, NGC cannot guarantee that coins with additive features will retain their full mint-applied aspects or their assigned grade.

THE NGC COIN GRADING GUARANTEE REPLACES AND SUPERSEDES ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, AND WHETHER OF MERCHANTABILITY, FITNESS OR OTHERWISE. THE REMEDIES PROVIDED IN THIS AGREEMENT ARE EXCLUSIVE. EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT, ALL OTHER REMEDIES AGAINST NGC, INCLUDING BUT NOT LIMITED TO, CONSEQUENTIAL, PUNITIVE AND INCIDENTAL DAMAGES, ARE WAIVED.

THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA AS APPLIED TO TRANSACTIONS TAKING PLACE WHOLLY WITHIN FLORIDA BETWEEN FLORIDA RESIDENTS. CLAIMANTS UNDER THIS GUARANTEE HEREBY WAIVE TRIAL BY JURY AND EXPRESSLY CONSENT, AT THE OPTION OF NGC, (1) TO THE PERSONAL AND SUBJECT-MATTER JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN AND FOR THE COUNTY OF SARASOTA, STATE OF FLORIDA, OR (2) TO ARBITRATION BEFORE THE AMERICAN NUMISMATIC ASSOCIATION OR THE PROFESSIONAL NUMISMATISTS GUILD FOR ANY DISPUTE ARISING FROM OR RELATED TO THIS GUARANTEE.

Notwithstanding anything else contained in this NGC Coin Grading Guarantee, in the event of loss or damage of your coin by NGC, NGC will only be responsible for the LESSER of the actual fair market value or the submitter declared valued.

This Guarantee represents a clarification of prior and existing versions and in no way is intended to expand any rights created thereunder.

Revised: 5/15/2014

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NGC Ancients Guarantee

Coins that bear the NGC Ancients label are subject and limited to the terms and conditions of this section.

NGC Ancients is committed to grading only genuine coins, but it does not guarantee authenticity, genuineness or attribution, nor is any guarantee of these aspects implied. NGC Ancients will only holder coins it considers genuine at the time of submission, but it cannot guarantee the authenticity, genuineness, type, attribution or date of any coin it holders. Unlike modern coins, which often benefit from well-documented, scientific parameters for the verification of authenticity, there rarely is conclusive data for ancient coins, and generally there is no surviving documentation to verify production characteristics.

Almost without exception, ancient coins have been recovered from burial, either under land or water. Some recoveries date back centuries, while others are more recent. Even in ancient times, coins were counterfeited, copied and imitated. If a particular submitted coin can positively be connected to a specific find or recovery that is documented, or is on track for documentation, it will be so designated if requested to do so by the submitter. However, even with these coins there can be no guarantee of their genuineness.

The dating and attribution of an ancient coin (the basic identification of a coin’s place of origin, issuing authority, date of issue, design elements, specific variety, etc.) is oftentimes uncertain or is a matter of scholarly conjecture. Multiple and different attributions can coexist, each simultaneously finding acceptance within the numismatic community; in these cases NGC Ancients will use the attribution it considers most valid. New research or archeological evidence may challenge or change the consensus about an ancient coin’s attribution, date, identification and even its authenticity. Consequently, the opinion of NGC Ancients on these matters is subject to change with the introduction of new information, or of existing information of which its grading staff was unaware at the time of holdering. Every effort will be made in good faith by NGC Ancients to properly attribute ancient coins, but no guarantee is made as to these qualities.

Therefore, with ancient coins NGC Ancients will only guarantee the grade. It is recommended that buyers purchase ancient coins from sellers who offer unconditional lifetime guaranties of authenticity, and who otherwise stand behind their sales.

WARNING: THIS GUARANTEE IS LIMITED TO GRADING ONLY

  • The NGC Ancients Guarantee does not apply to coins that have been removed at any time from their original NGC Ancients holder, or to coins that bear any evidence of tampering, which determination shall be at the sole discretion of NGC Ancients.

The grading of coins is subjective and solely reflects the opinions of NGC Ancients graders. All coins submitted to NGC Ancients shall be examined in accordance with NGC Ancients grading procedures. In the event any owner or subsequent purchaser of a coin encapsulated by NGC Ancients believes that coin has been over-graded by NGC Ancients with respect to such procedures, such person may submit the coin to NGC Ancients through its "Appearance Review" service for a review of the assigned grade. If the grade determined under such review, in the sole opinion of NGC Ancients, is lower than that originally assigned to the coin, NGC Ancients shall, at NGC Ancients’ option, either exchange the coin in question with an equivalent coin at the original, higher grade or pay the difference between the current fair market value of the coin at the newly established grade and the current fair market value of the coin at the grade originally assigned. NGC Ancients will determine the current fair market value of a coin based upon what NGC Ancients believes, in its sole opinion, to be reliable and current market information. The subjective determination of fair market value by NGC Ancients shall be binding on all parties.

  • From time to time NGC Ancients may make a “clerical” or “mechanical” error in placing and inputting data on the NGC Ancients holder label. A clerical error would include a situation where the coin identified on the holder is obviously not the same coin as that which is contained in the holder. The NGC Ancients Guarantee does not apply to “clerical” or so-called “mechanical” errors that may appear on the NGC Ancients label as the owner of the coin can readily see that the coin is incorrectly labeled.

Clerical or mechanical mistakes will be rectified free of charge by NGC Ancients.  In consideration of the services rendered by NGC Ancients, the submitter is obliged to and agrees to immediately upon receipt examine coin(s) for clerical or mechanical errors or for any other problems, and within five (5) calendar days to notify NGC Ancients of any errors or problems or same will be deemed waived. Notwithstanding same, the submitter agrees to return to NGC Ancients any coin with clerical or mechanical errors and under no circumstances may any submitter sell, trade or transfer ownership of the coin. If the submitter causes same to enter into the stream of commerce, NGC Ancients hereby disclaims responsibility and / or liability for such coin. Submitter hereby agrees to indemnify and hold NGC Ancients harmless for any coin which has a clerical or mechanical error should the submitter transfer ownership to another party and that party brings a claim against NGC Ancients therefore.

THE NGC ANCIENTS GUARANTEE TAKES THE PLACE OF AND SUPERSEDES ALL OTHER WARRANTIES, EXPRESS OR IMPLIED AND WHETHER OF MERCHANTABILITY, FITNESS OR OTHERWISE. THE REMEDIES PROVIDED IN THIS AGREEMENT ARE EXCLUSIVE, EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT, ALL OTHER REMEDIES AGAINST NGC ANCIENTS, INCLUDING, BUT NOT LIMITED TO, CONSEQUENTIAL, PUNITIVE AND INCIDENTAL DAMAGES, ARE WAIVED.

THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA AS APPLIED TO TRANSACTIONS TAKING PLACE WHOLLY WITHIN FLORIDA BETWEEN FLORIDA RESIDENTS. CLAIMANTS UNDER THIS GUARANTEE HEREBY WAIVE TRIAL BY JURY AND EXPRESSLY CONSENT, AT THE OPTION OF NGC, (1) TO THE PERSONAL AND SUBJECT-MATTER JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN AND FOR THE COUNTY OF SARASOTA, STATE OF FLORIDA, OR (2) TO ARBITRATION BEFORE THE AMERICAN NUMISMATIC ASSOCIATION OR THE PROFESSIONAL NUMISMATISTS GUILD FOR ANY DISPUTE ARISING FROM OR RELATED TO THIS GUARANTEE.

Notwithstanding anything else contained in this NGC Ancients Guarantee, in the event of loss of your coin by NGC Ancients, NGC Ancients will only be responsible for the LESSER of the actual fair market value or the submitter declared valued.

Revised: 12/20/2011

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NGC Authenticated Bullion Guarantee

This guarantee applies only and specifically to coins certified with the NGC AUTHENTICATED BULLION label, a green-tone certification label with the words AUTHENTICATED BULLION appearing on its right-hand side.

Coins encapsulated with the NGC AUTHENTICATED BULLION label are guaranteed to contain the amount of precious metal of the fineness so noted on the certification label. This determination can be made by one or a combination of non-invasive tests such as visual inspection, measuring weight, determining specific gravity, X-ray Fluorescence, as well as through published data by assayers or mints. In the event that any owner or subsequent purchaser of an NGC Authenticated Bullion coin believes that a coin does not contain the metal described on the certification label, such person may submit the coin to NGC through its "Appearance Review" service for a reassessment of the information provided on the certification label. If the actual metal content under such review in NGC's sole opinion is ultimately lower than the amount shown on the label originally assigned to the coin, NGC shall, at NGC's option, either exchange the coin in question with an equivalent coin of same type, metal content and fineness of the earlier description, or purchase the coin from the submitter at fair market value of the coin, as represented on its original certification label. NGC's subjective determination of fair market value shall be binding on all parties. Removal of a coin from its NGC holder, or tampering with the holder, nullifies this Guarantee. If requested, NGC will remedy any clerical error with respect to the description of a coin on its label, free of charge.

WARNING: THIS GUARANTEE IS LIMITED.

  • The NGC Authenticated Bullion Guarantee does not cover coins that have been certified by NGC but then are subjected to abuse, alteration or improper storage conditions such as (but not limited to) extreme temperature, moisture, damaging environmental conditions, excessive light, excessive motion or vibration, or any other extreme conditions.
  • The NGC Authenticated Bullion Guarantee does not apply to coins that have been removed at any time from their original NGC holder, or to coins that bear any evidence of tampering, the determination of which shall be at the sole discretion of NGC.
  • The NGC Authenticated Bullion Guarantee does not apply to clerical errors on the label. A clerical error is any information that is obviously incorrect and clearly the result of a data entry mistake or other similar mechanical error. Examples include, but are not limited to, the date displayed on the label not matching the coin enclosed in the holder, or the denomination of the coin not matching the denomination noted on the certification label.

THIS GUARANTEE TAKES THE PLACE OF AND SUPERSEDES ALL OTHER WARRANTIES, EXPRESS OR IMPLIED AND WHETHER OF MERCHANTABILITY, FITNESS OR OTHERWISE. THE REMEDIES PROVIDED IN THIS AGREEMENT ARE EXCLUSIVE. EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT, ALL OTHER REMEDIES AGAINST NGC, INCLUDING BUT NOT LIMITED TO CONSEQUENTIAL, PUNITIVE AND INCIDENTAL DAMAGES, ARE WAIVED.

THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA AS APPLIED TO TRANSACTIONS TAKING PLACE WHOLLY WITHIN FLORIDA BETWEEN FLORIDA RESIDENTS. CLAIMANTS UNDER THIS GUARANTEE HEREBY WAIVE TRIAL BY JURY AND EXPRESSLY CONSENT, AT THE OPTION OF NGC, (1) TO THE PERSONAL AND SUBJECT-MATTER JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN AND FOR THE COUNTY OF SARASOTA, STATE OF FLORIDA, OR (2) TO ARBITRATION BEFORE THE AMERICAN NUMISMATIC ASSOCIATION OR THE PROFESSIONAL NUMISMATISTS GUILD FOR ANY DISPUTE ARISING FROM OR RELATED TO THIS GUARANTEE.

Revised: 12/20/2011

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NGC Certified Gold Guarantee

This guarantee applies only and specifically to coins certified with the NGC CERTIFIED GOLD label, a golden-hued certification label with the words NGC CERTIFIED GOLD appearing on its right-hand side.

The grading of coins is subjective and solely reflects the opinions of the NGC graders. All coins submitted to NGC shall be examined in accordance with NGC grading procedures. In the event that any owner or subsequent purchaser of an NGC Certified Gold coin believes that a coin has been over-graded by NGC with respect to such procedures, such person may submit the coin to NGC through its "Appearance Review" service for a review of the assigned grade. If the grade determined under such review in NGC's sole opinion is ultimately lower than that originally assigned to the coin, NGC shall, at NGC's option, offer one of the three following remedies: 1) exchange the coin in question with an equivalent coin of same type, metal content and grade of the earlier higher grade; 2) pay the difference between the current fair market value of the coin at the newly established grade and the current fair market value of the grade originally assigned to such coin; or 3) purchase the coin from the submitter at fair market value of the coin as represented on it original certification label. In any case where the authenticity of an NGC Certified Gold coin is being reviewed and the coin is found to be not genuine, the first and third remedy options apply. Due to the volatile nature of the coin market and Internet auctions / sales, the selling prices in these auctions / sales do not necessarily represent the current fair market value of any particular coin. NGC will determine the current fair market value of a coin based upon what NGC believes, in its sole opinion, to be reliable current market information. NGC's subjective determination of fair market value shall be binding on all parties. Removal of a coin from its NGC holder, or tampering with the holder, nullifies this Guarantee. If requested, NGC will remedy any clerical error with respect to the description or grade of a coin on its label, free of charge.

WARNING: THIS GUARANTEE IS LIMITED.

  • All US and World coins are guaranteed for grade and authenticity only.
  • The NGC Certified Gold Guarantee does not cover coins that have been graded by NGC but then are subjected to abuse, alteration or improper storage conditions such as (but not limited to) extreme temperature, moisture, damaging environmental conditions, excessive light, excessive motion or vibration, or any other extreme conditions.
  • The NGC Certified Gold Guarantee does not apply to coins that have been removed at any time from their original NGC holder, or to coins that bear any evidence of tampering, the determination of which shall be at the sole discretion of NGC.
  • The NGC Certified Gold Guarantee does not apply to clerical errors on the label. A clerical error is any information that is obviously incorrect and clearly the result of a data entry mistake or other similar mechanical error. Examples include, but are not limited to, the date displayed on the label not matching the coin enclosed in the holder, or the denomination noted on the certification label not matching the denomination of the coin.

THIS GUARANTEE TAKES THE PLACE OF AND SUPERSEDES ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, AND WHETHER OF MERCHANTABILITY, FITNESS OR OTHERWISE. THE REMEDIES PROVIDED IN THIS AGREEMENT ARE EXCLUSIVE. EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT, ALL OTHER REMEDIES AGAINST NGC, INCLUDING BUT NOT LIMITED TO CONSEQUENTIAL, PUNITIVE AND INCIDENTAL DAMAGES, ARE WAIVED.

THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA AS APPLIED TO TRANSACTIONS TAKING PLACE WHOLLY WITHIN FLORIDA BETWEEN FLORIDA RESIDENTS. CLAIMANTS UNDER THIS GUARANTEE HEREBY WAIVE TRIAL BY JURY AND EXPRESSLY CONSENT, AT THE OPTION OF NGC, (1) TO THE PERSONAL AND SUBJECT-MATTER JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN AND FOR THE COUNTY OF SARASOTA, STATE OF FLORIDA, OR (2) TO ARBITRATION BEFORE THE AMERICAN NUMISMATIC ASSOCIATION OR THE PROFESSIONAL NUMISMATISTS GUILD FOR ANY DISPUTE ARISING FROM OR RELATED TO THIS GUARANTEE.

Revised: 12/20/2011

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Descriptions and Designations

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Consumer Awareness

NGC offers the highest caliber of professional certification, grading, and authentication services in numismatics. We do not value or appraise collectibles, but instead leave the marketplace to determine the value of NGC certified coins. In conjunction with our services, we offer numerous resources such as a free monthly electronic newsletter and voluminous articles on our Web site about our products and services.

We strongly encourage collectors to use these resources and become well-informed about the opportunities and risks associated with the numismatic marketplace. Certification does not protect against the risks of a volatile market. There are many excellent treatises, scholarly reference works, and periodicals on numismatics to inform and educate the collector about the history, minting, mintage figures, die characteristics, and other important facts concerning coins. Collectors are always best served by informing themselves about their collectibles. There are also many publications which can advise collectors about values.

We have created this page on our Web site as a portal to the consumer awareness resources available to you from NGC and elsewhere on the Internet.

Consumer Awareness Resources

US Mint
The US Mint regularly responds to questions and concerns about products in the marketplace. Important issues are posted on their Web site, and updates are posted regularly. Please visit this link:
Consumer Issues [US Mint Web Site]

Contact NGC for More Information
NGC invites inquiries about NGC certified coins and collectibles. Please address inquiries by e-mail to consumerawareness@ngccoin.com.

We also welcome your inquiries and comments by mail:

NGC
Attn: Consumer Awareness Department
P.O. Box 4776
Sarasota, FL 34230

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NGC Edited / Stock Images Policy

NGC’s guidelines for editing images of NGC holders and using stock photos of NGC-certified coins

Many internet sellers use stock photos of NGC-certified coins and in some limited situations it might be necessary to edit a photo of an NGC holder. Under no circumstances should this image misrepresent or mislead. Acceptable examples of when a seller may edit an image of an NGC holder include:

  • A new release is being pre-sold and it is not yet possible to obtain an image of the coin in an NGC holder. It should be clear that the coins are being pre-sold.
  • An NGC-certified coin has been resubmitted for a new label and the image of the NGC holder is edited to reflect the new label. The grade and other certification details may not be altered.

An image of an NGC-certified coin may not be edited to show a coin that has a grade different from the grade stated on the label. (For example, the label says MS 69 but the image was edited to show a coin graded MS 70.) The coin cannot be edited to disguise or remove impairments. Similar deceptive practices are not acceptable. Violations of this policy may result in the suspension or termination of NGC Authorized Dealer status or NGC Collectors Society membership, and/or any other actions that NGC consider necessary.

If you have any questions, please contact NGC Customer Service at service@ngccoin.com or 1-800-NGC-COIN.

Numismatic Guaranty Corporation, NGC, the NGC logo and the NGC holder design are the registered or unregistered trademarks of Numismatic Guaranty Corporation in the U.S. and internationally.

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Glossary of Collecting Terms

5FS — abbreviation for Five Full Steps designation

6FS — abbreviation for Six Full Steps designation

Alloy — a mixture of two or more metals

ANA — American Numismatic Association, the national organization for coin collectors

Assay — the testing of an ore sample to determine its precious metal value

Attribution — the designation of a coin’s variety according to standard reference books

Authentication — the determination of a coin’s genuineness

Base metal — a non-precious metal, such as copper, nickel or zinc

Blank — an unstruck coin disc, the same as “planchet”

Bourse — a popular term for the sales floor of a coin show

BN — abbreviation for Brown designation

Brass — an alloy of copper and zinc

Bronze — an alloy of copper and tin

Bullion — refined precious metal in non-coin form

CA — abbreviation for Cameo designation

Certification — the process of having a coin authenticated, graded and encapsulated

Clad — a laminated or sandwiched coin metal

Collar — a retaining ring which imparts a coin’s edge, whether plain or reeded

Commemorative — a coin honoring an event, place or individual, usually of limited mintage

Condition census — a roster of the five or six finest known specimens of a particular coin

Contact marks — small nicks imparted by contact with other coins

Counterfeit — a non-genuine coin, whether made to circulate as money or to deceive collectors

Coronet — a crown or tiara frequently seen on the Liberty portrait of 19th Century US coins

Currency — circulating money, used numismatically to denote a non-proof coin

Denomination — the face value of a coin, such as one cent, ten cents, etc.

Denticles — the toothlike projections seen on the borders of older US coins

Device — a raised design element on a coin, such as a portrait or lettering

Die — a cylindrical shaft of steel that imparts one side of a coin’s design (two are required)

Double eagle — a United States $20 gold coin, issued from 1850 to 1933

DPL — abbreviation for Deep Prooflike designation

Eagle — a US $10 gold coin, issued from 1795 to 1933

Edge — the third side of a coin, it can be plain, reeded, lettered or starred

Encapsulated coin — one which has been sealed inside a plastic holder

Field — the flat surface area of a coin between the various devices

FB — abbreviation for Full Split Bands designation

FBL — abbreviation for Full Bell Lines designation

FH — abbreviation for Full Head designation

Fineness — the percentage or decimal proportion of precious metal in a coin

Flip — a flexible, transparent, plastic envelope having one pocket for a coin and one for its label

Frosted — describes a coin’s surface which is textured rather than smooth or glassy

FT — abbreviation for Full Torch designation

Grade — the numerical value assigned to a coin’s condition on a scale of 1 to 70

Hairlines — fine scratches on a coin’s surface which may affect its grade

Half cent — a US copper coin of that value, issued from 1793 to 1857

Half dime — a US silver five-cent coin, issued from 1794 to 1873

Half eagle — a US $5 gold coin, issued from 1795 to 1929

Hub — a steel cylinder bearing one side of a coin’s design and used to produce dies

Intrinsic value — the value of a coin’s metal, irrespective of its face or collector value

Legal tender — a coin declared by a government to be acceptable in the payment of all debts

Legend — an inscription which appears on a coin, such as LIBERTY

Lettered edge — the edge of a coin on which either raised or sunken letters appear

Luster — the reflected light from a coin as determined by its surface texture and quality

Matte — the purposely dulled surface of a coin, this style was used on certain US proof coins

Minor coin — a base-metal coin of small value, such as a cent or nickel

Mint — the structure where coins are produced, or, the governmental body overseeing its work

Mint Error — coins with major mint errors as a result of human or mechanical error during manufacturing

Mintmark — a small letter appearing on a coin to denote its city of manufacture

Mint State — describes an unworn coin and means the same as Uncirculated

Mirror — the brilliant surface of a coin, typically the fields of a proof or prooflike coin

MS — the abbreviation for Mint State, it’s used with a numerical figure to grade unworn coins

Numismatics — the studying and collecting of coins

Numismatist — one who engages in numismatic activity for whatever end

Obverse — the front side of a coin (“heads”)

Overdate — a coin variety in which one date is impressed over another

Pattern — an experimental coin made as a test of a new design, material or technology

PF — the abbreviation for Proof, it’s used with a numerical figure to grade proof coins

PL — abbreviation for Prooflike designation

Plain edge — the edge of a coin which is smooth and lacking any decoration

Planchet — a blank disc that will be stamped between dies to produce a coin

Press — a compression machine in which dies come together to stamp a coin

Proof — a high-quality coin for collectors made in small numbers from specially prepared dies

Prooflike — having the appearance of a proof coin, that is, mirrorlike fields

Quarter eagle — a US $2.50 gold coin, issued from 1796 to 1929

R1, R2, R3, etc. — a scale of coin rarity ranging from R1 (very common) to R8 (unique)

RB — abbreviation for Red Brown designation

RD — abbreviation for Red designation

Red Book — the popular name for A Guide Book of United States Coins, by R. S. Yeoman

Reeded edge — the edge of a coin on which raised lines appear

Relief — the portion of a coin’s design which is raised above the smooth surface or field

Restrike — a coin made years after the original edition but from the same dies

Reverse — the back side of a coin (“tails”)

Series — a continuous run of coins of the same type, such as the Buffalo Nickel series of 1913–38

Slab — a slang term for an encapsulated coin

SP — Specimen

Specie — coined money, as opposed to paper money or other store of wealth

Starred edge — the edge of a coin featuring either raised or sunken stars

Strike — the action of producing a coin, or, the quality of a coin’s detail sharpness

Trade dollar — a special type of silver dollar made from 1873 to 1885, primarily for export

Trime — a US silver three-cent piece, issued from 1851 to 1873

Type collecting — assembling a collection of one of each coin denomination and design

UC — abbreviation for Ultra Cameo designation

Uncirculated — describes an unworn coin and means the same as Mint State

Variety — a variety is a coin that differs from its basic design type in some distinctive way and is thus differentiated by collectors

Wire rim — a fine, raised line of metal around the rim of very sharply struck coins

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Last Updated July 21, 2014.