Numismatic Guaranty Corporation is buying back its NGC certifications labels, the company announced Monday, July 2.
These labels show a coin’s description, its grade and a unique certification number. They also indicate a coin’s placement in the NGC Census population report, and this is the reason for the buyback program.
Collectors and dealers sometimes remove coins from NGC holders, making the NGC Census less accurate when their associated certification records are not deleted.
"In an effort to provide the most accurate data to NGC Census users, NGC will now offer a 50 cent grading credit for each NGC certification label that is returned to NGC for removal from its population database," the company said. "This offer, which is effective immediately, is valid for all US, world and ancient coins."
Most of the more than 31 million coins graded by NGC appear in the Census, according to the company, which is available for free at NGCCoin.com.
March Salzberg, NGC Chairman, said the NGC Census is "one of the most significant tools" they offer and the label buyback program is a part of their "commitment to provide the best, most informative resources to collectors and dealers."
All NGC Collectors Society paid members and NGC Authorized Dealers are eligible to take part in the buyback program. NGC said a 50-cent credit will be issued to member accounts for each label returned. To participate, the labels and a member’s account number must be sent to NGC in an envelope marked "Attn: NGC Label Buyback Program."