Anyone Know a Chet Woods?

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Posted By: MikeU

I have not looked recently at a CU annual report, from recollection, for the last several years, they have budgeted some $500,000 to cover their guarantee e.g. cards and coins they overgraded or graded, but were altered. I assume a majority of this money is for the coin side of the business. From 2000-2004, they never approached the $500,000. I think $380,000 was probably the closest. In any case, they have a guarantee written into their annual report and budget for these cases. For their customer service to refuse to not refund the cost of the card if it is trimmed, is criminal or at least very telling, even to lemmings.

Whenever I sell GAI, BVG or PSA cards, I always note that there are no returns on graded cards. This is common practice, so I do not feel bad about doing it. When I sell SGC cards, I allow refunds or returns, as I know SGC will guarantee the card. I do not allow refunds for buyers remorse or feeling the card is not strong for the grade, only for legitimate misgrades or alterations. I have never had anyone return a card (knock on wood).