Terms and Conditions
1. Introduction, Parties, Submissions
NGC International GmbH, Munich, Germany (“NGC GmbH”) renders authentication, grading, encapsulation and, if requested, conservation services (the “Services”) to European Customers under German law on the basis of a Membership Agreement, these Service Terms and Conditions (“Terms and Conditions”) and the NGC Europe Submission Form and PMG Europe Submission Form (each a “Submission Form”). NGC GmbH will sub-contract relevant services from its US affiliates NGC, NCS and/or PMG, depending on the kind of services ordered by the Customer on the Submission Form. If so ordered on the Customer’s Submission Form, certain services can be provided at NGC GmbH’s premises in Munich, Germany, in all other cases, the ordered services will be rendered by the relevant US affiliate in the US. For corporate details of NGC GmbH and its affiliated companies please refer to the background information on the sub-page “About”. NGC GmbH, NGC, NCS and PMG are collectively referred to herein as the “Companies” and each individually as a “Company”.
2. Conclusion of Contracts
This website contains a non-binding invitation to place orders for grading and encapsulation services with NGC GmbH.
Upon execution of the Membership Agreement, any simultaneous or subsequent submission of an order on NGC GmbH’s Submission Form will constitute your binding offer to conclude a service contract at the terms of your Submission Form, the Membership Agreement and these Service Terms and Conditions.
NGC GmbH will notify you promptly upon receipt of your order in the event it does not intend to accept your order. Any performance of the ordered services and return of your property shall constitute acceptance of your order. Any such acceptance shall constitute conclusion of the service contract. NGC GmbH will render services only to Customers who are 18 years of age or older.
Your order is placed in the following four steps:
First, you sign up and register for (i) Collector Membership or (ii) Dealer Membership so that we have your details as a Customer.
Second, you select the desired service and complete NGC GmbH’s Submission Form accordingly, including your address, invoicing address, delivery address and the requested payment method.
As a third step, you arrange for the payment of the applicable compensation and costs in accordance with the selected payment process.
Finally, you complete the process by submitting the Submission Form together with the coins, notes or other items which you wish NGC GmbH to process in accordance with the completed Submission Form and these Terms and Conditions. Please retain a copy of the completed and submitted Submission Form.
3. Compensation and Costs
For details of the compensation (Service Fees) and costs connected with the services of NGC GmbH, please see the price list and cost schedule on the Submission Form.
All prices stated shall include the legally applicable sales tax (VAT).
Customer agrees to pay NGC GmbH all Services Fees and costs at the time of submission. If payment is being made by credit card, Customer agrees that NGC GmbH may charge all Services fees to the credit card upon receipt of this Submission Form. Unpaid balances shall accrue interest at the regular statutory default interest rate applicable in the customer’s jurisdiction.
4. Delivery and Shipping
Our services will be performed promptly upon conclusion of the contract plus the 14 days period during which you may withdraw from the contract (Clause 5). We agree to start our services without regard to the 14 days withdrawal period if you confirm to us, on the Submission Form or otherwise, that you will not exercise your withdrawal right. Your coins, notes or other valuables, as applicable, will be made available to you for your personal pick-up at our Munich Offices within a period of  days from the end of the 14 days withdrawal period, or earlier if you have confirmed that you will not exercise the withdrawal right. If your order requires a longer delivery period, you will be so notified promptly after receipt of your Submission Form. You may arrange for pick-up by a party which you have authorized in writing in accordance with our pick-up procedures. You will be notified of the day on which your property is available to be picked-up. If you have instructed us to ship your property to your return address, the required arrangements need to be made in advance in connection with your Order. Return of your property requires receipt of the agreed compensation and costs.
5. Right of Withdrawal Notice
5.1 Right of withdrawal
As a Collector, you have the right to withdraw from the contract without giving any reason provided that the withdrawal period will expire fourteen days from the conclusion of the contract and the disclosure of separate withdrawal right instructions.
You can exercise your right of withdrawal by informing us with an unequivocal statement (e.g. a letter sent by post, fax or e-mail) about your decision to withdraw from this contract. If you decide to inform us of your withdrawal from this contract, you may use the attached model withdrawal form but the use of this form is not obligatory.
The withdrawal declaration must be addressed to:
NGC International GmbH
80335 Munich, Germany
Email: [email protected]
or electronically completed and uploaded on our website. To meet the withdrawal deadline, it is sufficient for you to send your communication concerning your exercise of the right of withdrawal before the withdrawal period has expired.
The withdrawal right ends before the expiration of the 14 day withdrawal period if you have expressly authorized us to start our contract services prior to the end of the withdrawal period, and if you have confirmed in this case your knowledge to the effect that you will no longer have a withdrawal right once NGC GmbH has completely fulfilled the contract (§ 356 (4) Civil Code).
If you withdraw from the contract before NGC GmbH has completely fulfilled the contract (that is at a time when the withdrawal right still exists, then NGC GmbH may demand compensation for the value of the partial services rendered up to the time of the withdrawal. Such compensation may be claimed only if you have expressly authorized NGC GmbH to start with the services prior to the end of the withdrawal period (Sec. 357 (8) Civil Code).
5.2 Effects of withdrawal
If you withdraw from this contract, we shall reimburse to you all payments received from you, including the costs of delivery (with the exception of the costs resulting from your choice of a type of delivery other than the least expensive type of standard delivery offered by us), without undue delay and in any event not later than 14 days from the day on which we are informed about your decision to withdraw from this contract. We will carry out such reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of such reimbursement.
6. Warranties, Liability Limitations
NGC GmbH provides its services under German law. Where applicable, Customers, and third parties qualifying as beneficiaries, may additionally benefit from a separate NGC Guarantee for NGC-certified Coins and a separate PMG Guarantee for PMG-certified Notes provided by US affiliates of NGC GmbH under US law, as from time to time amended (“Guarantee”). NGC GmbH’s liability shall be governed solely by (i) German law and (ii) the liability limitations agreed in these Terms and Conditions. Nothing in these Terms and Conditions shall exclude or limit the statutory liability for death or personal injury, or loss caused by a fraudulent act, or any other matters for which liability cannot be excluded or limited under German law.
NGC GMBH SHALL RENDER ITS GRADING AND ENCAPSULATION SERVICES IN ACCORDANCE WITH STATE-OF-THE-ART SERVICES AS CUSTOMARY IN THE GERMAN GRADING AND ENCAPSULATION INDUSTRY, FREE OF ANY DEFECTS. NGC GMBH DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, REGARDING MERCHANTABILITY AND FITNESS OF ITS GRADING SERVICES FOR A PARTICULAR PURPOSE. IN NO EVENT SHALL NGC GMBH OR ANY OF ITS AFFILIATES, OR ANY OF ITS OR THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS OR AGENTS, BE LIABLE TO CUSTOMER OR ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THE GUARANTEE. IN NO EVENT SHALL THE AGGREGATE LIABILITY OF NGC GMBH OR ANY OF ITS AFFILIATES, AND ANY OF ITS OR THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS OR AGENTS TO THE CUSTOMER OR ANY THIRD PARTY FOR WHOM THE CUSTOMER MAY BE ACTING, ARISING FROM ANY CAUSE, ACT, OMISSION OR OTHER CIRCUMSTANCE, EXCEED THE AMOUNT OF EUR 10,000, PROVIDED, HOWEVER, THAT NOTHING HEREIN SHALL EXCLUDE OR LIMIT LIABILITY FOR DEATH OR PERSONAL INJURY, OR LOSS CAUSED BY A FRAUDULENT ACT, OR ANY OTHER MATTERS FOR WHICH LIABILITY CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE COMPULSORY LAW.
NGC GmbH’s liability shall be unlimited for:
Loss or damage caused intentionally or by the gross negligence of NGC, its directors or its officers or intentionally by its other vicarious agents; loss or damage from acts causing death, bodily injury or illness.
NGC’s liability is limited to reasonable, foreseeable damage If NGC breaches a material contractual obligation as a result of slight negligence. A material contractual obligation is any obligation that is necessary to fulfill the purpose of the contract, and on the fulfillment of which the consumer can rely or ought to be able to rely.
Any other liability of NGC GmbH is excluded.
Where NGC’s liability is limited, NGC will not be liable for lost profits or any other indirect damages.
The following terms, limitations and restrictions apply to any warranty claim of a Customer for coins (“Coins”) and notes (“Notes”) submitted to NGC GmbH (collectively, “Collectibles”):
- Required Information. In fulfillment of any warranty, NGC GmbH may require that the Customer provide information and available documentation regarding the transaction history of a particular Collectible, including the date purchased, the purchase price, the seller and the transaction amount. NGC GmbH may also require that the Customer minimizes its damage and attempts to reverse a prior transaction. It may further require that the Customer provide proof to the effect that negotiations to reverse a prior transaction have failed. The Customer acknowledges that his or her inability to provide requested information and/or non-cooperation in providing requested information constitutes a failure to meet an essential contract obligation and may result in a loss of warranty claims.
- Conservation. NGC GmbH may, at its sole reasonable discretion, have a coin that is submitted under the NGC GmbH warranty service professionally conserved by it or an affiliated company if NGC GmbH believes that doing so can improve its fitness for the grade originally assigned. There will be no charges assessed to the Customer for conservation service performed in conjunction with a warranty claim.
- NGC and PMG Holders. The NGC GmbH warranty does not apply to Coins that have been removed from their NGC holder or to Notes that have been removed from their PMG holder, or if the NGC or PMG holder has been damaged, unsealed, tampered with or altered. The determination as to whether this has occurred shall be at the sole reasonable discretion of NGC GmbH. Further, the NGC GmbH warranty does not apply to counterfeit or tampered NGC or PMG holders.
- Improper Storage. The NGC GmbH warranty does not apply if NGC GmbH determines that a Collectible has a lower grade than that originally assigned as a direct result of the NGC or PMG holder having been subject to abuse, alteration or improper storage conditions such as (but not limited to) extreme temperature, moisture, damaging environmental conditions, excessive light, excessive motion or vibration or any other extreme conditions and that such exposure of the holder is capable of affecting the condition of the graded Collectible.
- Deterioration of Certain Coins. The NGC GmbH warranty does not apply to certain Coins where the appearance of the Coin changes or deteriorates over time and such change or deterioration is responsible for any discrepancy between the assigned grade and the coin’s actual grade. NGC GmbH shall make the sole reasonable determination as to whether this deterioration has occurred. The following specific parameters apply:
- In certain Coins, natural environmental deterioration may cause undesired features to appear, such as (but not limited to) spotting, hazing, PVC and corrosion. Spots, for example, can occur on modern silver coins as a result of the minting process or other natural conditions over which NGC GmbH has no control. Therefore, the warranty does not apply to Coins exhibiting any of these issues.
- A number of countries issue Coins that are enameled, colorized, painted, hologram applied or jeweled at their mint facilities as part of the minting process. The methods used to apply these additive applications vary. Some are lacquered while others are enameled to hold the color in place. Colorized, painted, hologram, and jeweled coins can, even with proper handling, before or after grading and encapsulation, lose some or all of these additive features. These additive features can chip, flake, or become dislodged. Such conditions may be due to the minting process or other natural conditions over which NGC GmbH has no control. Therefore, NGC GmbH cannot warrant that coins with additive features will retain their full mint-applied aspects or their assigned grade.
- Third-Party Information and Attributions. Information listed on a label that originates from a third party (including, without limitation, any information from the U.S. Mint) and any attributions (including variety attributions, reference attributions and pedigree attributions) are NOT warranted. NGC GmbH and its affiliated Companies will attribute those varieties that they deem, in their sole reasonably exercised opinion, to be major varieties that are widely collected and accepted as legitimate varieties by the Collectible community at the time the Collectible is graded. New information may cause NGC GmbH and its affiliated Companies to no longer recognize an attribution that it previously assigned, which, again, is not covered by the NGC GmbH warranty. NGC GmbH does not warrant that a particular variety or designation will always be recognized, and attribution policies are subject to change without notice. Further, NGC GmbH's calculation of a Collectible's Fair Market Value will be based on a generic example of the Coin at the original grade without any variety, reference or pedigree attribution.
- Designations. The following designations, including any combination thereof, are considered to be part of the numeric grade assigned by NGC: Plus (+), Cameo, Ultra Cameo, PL, DPL, BN, RB, RD, 5FS, 6FS, FB, FH, FT, Matte and Satin. The Exceptional Paper Quality (EPQ) designation is considered to be part of the numeric assign a special grade assigned by PMG. Special designations (such as First Day of Issue, Early Releases and First Releases) or pedigrees are not guaranteed and if NGC GmbH or its affiliated Companies incorrectly designation or pedigree to a Collectible it is the duty of the submitter to return that Collectible for correction. In addition, since eye appeal is subjective, the NGC Star Designation ( ) and PMG Star Designation ( ) for exceptional eye appeal is not warrantied. Further, NGC GmbH's calculation of a Collectible's Fair Market Value will be based on a generic example of the Collectible at the original grade without any special designation or pedigree, except for those designations explicitly listed above as being considered to be part of the assigned numeric grade.
- Clerical or Mechanical Errors. A clerical or mechanical error occurs when a Collectible is encapsulated with a label that bears a grade and/or description that clearly does not correspond with the Collectible. It is the duty of the Customer, as well as any buyer and seller of a Collectible, to examine such Collectible for a clerical or mechanical error and to return such Coins for correction when warranted. The NGC GmbH warranty does not apply when NGC GmbH determines, in its sole reasonable discretion, that a clerical or mechanical error has resulted in the Collectible having an incorrect grade or description. If requested, NGC GmbH will remedy any clerical or mechanical error free of charge by updating the encapsulation to show an appropriate label.
NGC GmbH certification labels with incorrect dates, catalog numbers, mintmarks, denominations and types (all of which should be obvious to someone who performs an inspection of the Collectible and label) are considered clerical or mechanical errors. Examples of such errors include, but are not limited to, the following:
- A Coin is labeled a 1955 Doubled Die Lincoln Cent, when the Coin has no doubling.
- A Coin label description references a 1916 Standing Liberty Quarter, when the Coin is a 1916 Barber Quarter.
- A Coin is identified as a Proof, when it is a business strike and the types are readily distinguishable from each other.
- A Coin is described as an 1881-O Morgan Dollar, when it is an 1881-S Morgan Dollar and the mintmark was improperly identified on the label.
- A Coin is graded MS 68 when it should have been graded AU 58, an error with respect to grade that would be obvious to a collector.
- A Note label description references a catalog number of Pick 872, when the Note actually has a catalog number of Pick 572
- A Note label description references a 1911 date when the Note is actually dated 1910.
- A Note denomination is identified as $500 when the Note is actually a $50.
- A Note is graded 68 Superb Gem Unc when it should have been graded 58 Choice About Unc, a clerical error with respect to grade that would be obvious to a collector.
- NGC and PMG Registry. NGC GmbH’s warranty does not cover a Coin's status in the NGC Registry or a Note’s status in the PMG Registry, including eligibility or points assigned. Changes to the NGC Registry and PMG Registry may be made without notice, and NGC GmbH does not warrant that a Coin will always be eligible for inclusion in the NGC Registry, a Note will always be eligible for inclusion in the PMG Registry or that the Coin or Note will receive a certain point score.
- Inspection. The original submitter of a Collectible to NGC GmbH must inspect such Collectible immediately upon receipt from NGC GmbH. In the extremely rare event that a Collectible is damaged while at NGC GmbH’s or NGC’s facility, NGC GmbH and NGC shall have no liability for any damage unless reported to NGC GmbH within fourteen (14) days of the submitter's receipt of the Collectible from NGC GmbH. Notwithstanding anything else contained in this warranty, in the event of loss or damage of your Collectible by NGC GmbH, NGC GmbH will only be responsible for the LESSER of the actual current Fair Market Value as reasonably determined solely by NGC GmbH or the submitter declared value.
- Knowledge of Error. If the Customer or owner of a Collectible is informed that the Collectible is not genuine or overgraded, that the NGC or PMG label has a clerical error, or that an autograph on an “Authentic Hand-Signed” label has been found to be not genuine, it is the duty of the Customer and that owner to immediately return the Collectible with this information to NGC GmbH. If the Customer or owner does not immediately return the Coin to NGC GmbH after such notice, then (a) the NGC GmbH warranty will no longer apply to that Collectible, (b) if the Customer or owner sells, trades or otherwise transfers ownership of the Collectible instead of returning it, then the Customer or owner may be liable to the buyer for fraud or otherwise be subject to legal recourse, and (c) NGC GmbH will reserve all rights to pursue any available remedies against the original purchaser and the submitter of the Collectible.
7. NCS Conservation Services
Neither NGC GmbH nor any of the other Companies provide any type of grade protection for coins submitted to NCS. The submitter acknowledges that the conservation services provided by NGC GmbH or its sub-contractor NCS with respect to a submitted coin may result in a lower grade or no grade subsequently being assigned to such coin by a coin grading company. By submitting a coin to NGC GmbH, the submitter waives any right to assert any form of legal claim against NGC GmbH or its sub-contractor NCS (and any affiliates, divisions, subsidiaries or other corporately related entities of NGC GmbH, and its and their respective officers, directors, employees, agents and assigns) with respect to a lower grade or no grade subsequently being assigned to such coin by a coin grading company, unless caused solely by the gross negligence or willful misconduct of NGC GmbH or its sub-contractor NCS.
8. Coin and Note Rejection Events
NGC GmbH and the affiliated Companies have the right in their sole reasonably exercised discretion to reject any items submitted for Services provided it gives Customer a full refund of the fees paid if no grading opinion is rendered. Certain grading opinions may result in an item not being encapsulated, however, and in these cases the items shall be returned and the full fee for the rendered grading services will apply.
9. Loss of Submitted Items
NGC GmbH and its affiliates will use reasonable care with respect to items submitted to it for Services. However, if an item was lost or damaged while in its possession, NGC GmbH will compensate Customer based upon its good faith determination of the fair market value of the item. The amount of the compensation will not necessarily be based upon, but in no event will exceed, Customer’s stated declared value of the item set forth in the Submission Form.
10. Inspection Requirement, Forfeiture
Customer must inspect all items without undue delay upon receipt from NGC GmbH. NGC GmbH shall have no liability for any damage or errors unless reported to NGC GmbH within five (5) days of Customer’s receipt of the items.
11. Submission Form
Customer shall complete all submission information on the Submission Form, and package and ship all items, in accordance with the instructions on the Submission Form. Customer represents and warrants to NGC GmbH and each other Company that the declared value set forth on the Submission Form represents Customer’s good faith belief as to the market value of the item. If NGC GmbH determines that items are undervalued, it will assign its determination of the fair market value and adjust the Services fees accordingly.
12. Loss in Transit
Customer assumes all risk of loss or damage to items until items are received by NGC GmbH. Although NGC GmbH insures submitted items, if applicable, against loss or damage in transit between NGC GmbH’s office in Munich, Germany and, any of the agreed sub-contractors in Sarasota, Florida, U.S.A., such insurance does not cover losses due to confiscation of items by customs authorities. In the event the Customer has elected the services of an agreed sub-contractor in the US, the Customer shall bear the risk of loss in the rare event of the occurrence of such confiscation.
NGC GmbH and its affiliates compile data regarding, and make digital images of, items submitted for Services. In partial consideration for the performance of Services pursuant to this Submission Form, Customer hereby authorizes NGC GmbH and its affiliates to compile such data and make such images and agrees that each Company shall have an irrevocable, non-exclusive, perpetual, unlimited, royalty-free right and license to use and commercialize such data and images for any purpose.
14. Submission on a Third Party's Behalf
If any items are being submitted for a third party, Customer represents and warrants that the third party has authorized Customer to submit the items for the Services.
15. Applicable Law and Jurisdiction
Subject to any contrary compulsory local law applicable to a Customer, the laws of the Federal Republic of Germany, without regard to its choice of laws principles, shall apply to transactions and / or disputes between NGC GmbH and any Customer. To the extent permissible to applicable compulsory law, Customer agrees to the exclusive jurisdiction and venue for any dispute of the competent courts located in Germany.
16. Data Protection, Privacy
17. Final Provisions
These terms and conditions constitute the entire agreement of NGC GmbH and Customer (and any third party for whom Customer may be acting) regarding any submission to NGC GmbH, and supersede all prior agreements and understandings (written or oral) between or among such parties relating to, the subject matter hereof; however, any existing Collector or Dealer Member Agreement between Customer and NGC GmbH shall remain in effect, and the terms of such agreement(s) are hereby incorporated by reference. In the event of a conflict, these Terms and Conditions shall prevail.
If any term or condition is determined, by a final and non-appealable ruling or order of a court of competent jurisdiction, to be invalid or unenforceable under applicable law, such invalidity or unenforceability shall not affect the validity or enforceability of any of the other terms and conditions hereof.
19. Language Discrepancies
Should there be any discrepancy between the German language version of this Services Terms and Conditions and the version of the Services Terms and Conditions as translated into another language, the German language version shall prevail, govern and control in all respects.