What the NGC guarantee covers 0

[Nutmeg Coin]

I have a gold coin certified by NGC around 20 years ago, a top firm said it has pvc.  I spoke to customer service that also verified with a supervisor that if the coin were conserved the grade guarantee would be off even though it currently has a numerical grade and is in a no-problem NGC holder. Also the NCS and NGC fees would apply.  Does anyone know what the NGC guarantee revisions have been and why they are not standing behind properly stored coins in their holders years later?  https://www.ngccoin.com/coin-grading/ngc-guarantee/

 

Edited April 25, 2019 by Nutmeg Coin

[Coinbuf]

Number 5a under the conditions section of the guarantee you linked:

Deterioration of Certain Coins. The NGC Guarantee does not apply to certain Coins where the appearance of the Coin changes or deteriorates over time and such change or deterioration is responsible for any discrepancy between the assigned grade and the Coin’s actual grade. NGC shall make the sole reasonable determination as to whether this deterioration has occurred. The following specific parameters apply:

1. In certain Coins, natural environmental deterioration may cause undesired features to appear, such as (but not limited to) spotting, hazing, PVC and corrosion. Spots, for example, can occur on modern silver Coins as a result of the minting process or other natural conditions over which NGC has no control. Therefore, the NGC Guarantee does not apply to Coins exhibiting any of these issues.

 

I have never used the guarantee myself but as I understand it you can send the coin in for review and NGC can compensate you for the fmv of the coin, buy it back, or pay some amount that compensates for the loss of value.  However looking at what I have posted it seems unlikely that you would receive any compensation in this circumstance.  I believe that it has always been true (someone please correct me if not) that coins run through the restoration service are not eligible for the guarantee as the coin surface has been altered, albeit done professionally.  Years ago PCGS gutted their guarantee and its just a shell of what it used to be as a result of a few huge claims, NGC amended their guarantee shortly after.   

[Nutmeg Coin]

If they certified the coin with the pvc on it how could they claim that their guarantee is null and void?  This one has subtle hard to see pvc.  NGC used to have a fairly efficient guarantee method, around a one month turnaround for coins that turned in the holder, etc..

I had a gold coin that took a lot of effort but was able to get PCGS to conserve the coin and then pay a differential between the downgrade and the holder numerical grade.