PCGS buys back Proof 70 cent

[Robert]

Per coin world, they paid $40k+ because "it had turned in the holder and was no longer PR70."

Heritage (auctioneer) saw that it had developed carbon spots and called PCGS, who bought it as part of their guarantee.

no one but PCGS lost money on the deal.

PCGS spend about $150k per year on their guarantee.

[coppercoins]

I saw what the coin looked like over a year ago (before it sold for 39K) and it wasn't any better than a PR66 even then. I would imagine if it got even worse, it might have been a decent 64 on a good day. I can match that for a buck more than 100 times over. A shame, the slabbing game.