Any Concerns With Grading Due to Ongoing Conflict?

[SilverJacks]

Hello all.

 

As the title says, does anyone have any concerns about sending coins for submission in these current times? With an 8-12 week turnaround, I guess a lot could happen in that time.

And of course, in times of war there are far more important things to worry about than coins, I do get that. I just wonder if anyone is put off with the idea of sending their valuables to the US  right now? 

Personally, I'm not currently considering any submissions that I consider high value, but if I was, I'd be wary of what might be to come. Anyone else have any concerns or are happy to submit coins? Just wondering...

Edited February 27, 2022 by SilverJacks

[Paul]

HODL unless you need to sell/flip/pay off credit card bill

[dicker]

Depends on your situation really.  I don’t bother to grade anything* of value but stack and buy coins that I like.

If you might want to liquidate, hold back from being separated from your coins.

*I have some error coins at NGC for validation.

[FlorinCollector]

I'm still sending my coins for grading. They are insured to full value so don't know if that would put your mind at piece. 

[SilverJacks]

1 hour ago, FlorinCollector said:

I'm still sending my coins for grading. They are insured to full value so don't know if that would put your mind at piece. 

I wonder what the terms of the insurance are? Whether it would be subject to delays or whether NGC or PCGS have a contingency plan for returning coins ungraded in the event of emergency 🤔

I'll do some research and report back when I get the chance. 

[SilverJacks]

1 hour ago, SilverJacks said:

I wonder what the terms of the insurance are? Whether it would be subject to delays or whether NGC or PCGS have a contingency plan for returning coins ungraded in the event of emergency 🤔

I'll do some research and report back when I get the chance. 

Couldn't find much. Emailed NGC instead. Will be back with any info from reply

[Chonemenos]

4 minutes ago, SilverJacks said:

Couldn't find much. Emailed NGC instead. Will be back with any info from reply

Perfect, I am just considering if I should send my coins in for grading next week!

[sovereignsteve]

Are you worried about the London office not being there when the coins arrive back, or the Russians occupying it?

Russian missiles shooting down the plane with your coins on?😉

[CaptCaveMan]

I think @SilverJacks has raised an interesting question with how quickly things have escalated.

I'm assuming insurance covers the values we specify if lost, stolen or for whatever reason we don't receive our items back and look forward to hearing your response from NGC.

I have a couple of coins out at the moment and I'm considering sending a few more but with Russia raising it's nuclear alert you do have to ponder what additional retaliatory measures will be made with all the announcements made over the weekend, as the saying goes, if you don't own/hold it...

I may wait, at least until my current consignment safely returns.

[SilverJacks]

1 hour ago, sovereignsteve said:

Are you worried about the London office not being there when the coins arrive back, or the Russians occupying it?

Russian missiles shooting down the plane with your coins on?😉

 

Yes. I have a coin sent for grading and I am concerned it may targeted by Russian forces. I have emailed the Kremlin informing them that if I don't get it back, then Putin owes me a proof 50p!

 

 

55 minutes ago, CaptCaveMan said:

look forward to hearing your response from NGC

Seriously though, I've just asked them (NGC, not KGB) if they have a contingency plan for escalating conflict (perhaps to return coins before shutting services down), and/or if the insurance cover is subject to delays for potentially long-term storage. Hopefully get a response soon...

Edited February 27, 2022 by SilverJacks

[SilverJacks]

Okay, so a rather empty update, but an update nevertheless

 

Having emailed NGC with three questions, does NGC have a contingency plan for a significant disruption to operations, Is the insurance policy subject to delays such as long term storage in the event of such disruptions and would NGC return ungraded coins where possible or store them long term...

Initially, I received a response from NGC UK on Monday only to say they were looking into the concerns and would return with more information. This was followed up today with the following:

 

We currently do not have any information on this situation, regarding NGC and these uncertain times,

 Please note that NGC does not have any operations near the conflict.

 If the situation changes and may impact our operations, we will share any information with our customer via our website and e-mail list.

 

I appreciate the efforts of the NGC UK staff trying to gain further information. I can only assume that those in charge have no contingency plan for emergencies and do not intend to create one as they deem it unnecessary. This may be because they do not feel any need to consider any significant disruption. Although in fairness, such a policy may create doubts in the minds of customers and perhaps best avoided from a business perspective. 

Having gone straight from global pandemic to Russia / NATO conflict, I'm not sure that is a good stance, but that's how it is.

I have asked for some clarity on whether the insurance policy is subject to delays, since no information on this was provided. I'll update if/when they respond

[Wampum]

I can remember one of my first cars suffered bomb damage, as was sitting just off the street when it went off,

so was hit by the shock wave, and not the explosion.

Blew apart the brake servo, would have done more damage, however it was a Fait UNO so had vent windows in the back.

The blast blew these apart which released the pressure, and puckered up the roof on the corner pillars.

Tried to claim on my insurance however told me that War and Civil unrest are not covered, so this could be the case when it comes to any type of insurance. 

Had to fix the servo and new windows, myself, the car drove great for years after, looked odd however with a cushion shaped roof.             

[SilverJacks]

4 hours ago, Wampum said:

I can remember one of my first cars suffered bomb damage, as was sitting just off the street when it went off,

so was hit by the shock wave, and not the explosion.

Blew apart the brake servo, would have done more damage, however it was a Fait UNO so had vent windows in the back.

The blast blew these apart which released the pressure, and puckered up the roof on the corner pillars.

Tried to claim on my insurance however told me that War and Civil unrest are not covered, so this could be the case when it comes to any type of insurance. 

Had to fix the servo and new windows, myself, the car drove great for years after, looked odd however with a cushion shaped roof.             

😲 Bomb damage! Where were you for that to happen, if you don't mind me asking?

At least it was still roadworthy and you had some usage out of it.

 

[SilverJacks]

I had another reply from NGC stating they might have a contingency plan but they aren't telling anyone if they do. No mention of the insurance. I've looked for the T&C's. This is all I could find:

7.3 Insurance for your items. You are liable for all risk or damage to items until they are received and inspected by us and it is therefore your responsibility to insure them for loss or damage in transit to us. Where we ship items outside of the United Kingdom to one of the other CCG Companies we will ensure that they are insured against loss or damage in transit from NGC UK to a CCG Company and from a CCG Company to NGC UK based on the value that you declare on our Submission Form. If you wish us to send your items to you (rather than collect them from us) then this will be at your own risk and it is your responsibility to arrange appropriate insurance. 

 

Whilst understanding that it's a difficult subject for them businesswise, It's still a rather underwhelming response

I would ask PCGS the same questions, but I think I've inadvertently rustled enough feathers as it is.

Hopefully the media narrative of current affairs is exaggerated and/or the situation will de-escalate soon enough.

[Wampum]

On 05/03/2022 at 21:52, SilverJacks said:

😲 Bomb damage! Where were you for that to happen, if you don't mind me asking?

At least it was still roadworthy and you had some usage out of it.

 

It was during the Troubles in Northern Ireland in the late Eighties/Nineties, I was no where near at the time, just remember the hassles trying to sort it.

Remember also trying to get to the Airports was a nightmare, you had to leave hours before hand to get there, as you were never sure how long  the check points,

where on the roads outside the airport.      

[coinswls]

You've made an interesting point @SilverJacks. Hopefully the situation at the moment will de-escalate.