PCGS The Standart for the Rare Coin Industry

"We are old-fashioned here. We believe that while our clients appreciate accurate, detailed descriptions of the coins we offer, and the prompt manner in which we invoice successful bidders after the sale, they also appreciate our friendship and enthusiasm. Coins are not a necessity of life. They are a pleasure, an extra something which adds a measure of enjoyment to one's everyday activities. We want you to have a pleasant, enjoyable transaction, and when all is said and done, have the feeling of complete satisfaction with every aspect of the transaction. If there is anything we can do to make your bidding and buying experience better, we'll do our best to do it!"

I went on to describe the Kingswood guarantee, which stated that all coins were sold subject to client approval, and any items not pleasing for any reason whatever - including the grade, surface appearance, aesthetic quality, and anything else - could be returned within a specified period for a refund. I went on to note that a situation of mutual trust must be created, and while our clients have the right to return a coin within the time stated, if the coins were returned for no apparent reason we reserve the right to decline participation in future sales. "However, if you like what you receive from us, and we like the way you do business with us, we are both set for a fine, lasting relationship with mutual benefit."

As the closing date of the Kingswood sale approached, bids came in from all over the world. During the last week things became hectic, as clients telephoned and wrote to adjust this bid or that, to check to see how they are doing, to make additional bids, and to otherwise do their best to win the lots in question. Three staff members were on the telephone constantly, with scarcely a break, even for a sandwich.

The fax machine, unknown a few years ago, has become a major way to bid, especially for overseas clients who can send us bids during their business hours, knowing they will be on hand when we open in the morning. Hundreds of bids arrive by fax, especially during the last days before each sale.

By the time that the actual closing of this Kingswood sale occurred, at 4:00 on a particular afternoon, thousands of bids had been received. The next day or so was spent entering these bids into our computers and determining the winner of each lot.