Lesson learned: Inferior TPGs

jobiwan115 · May 23, 2007 11:43AM

That's it for me - twice is enough, I'm not going to waste time and money on these half-@$$ TPGs, hoping one of their coins will grade raw/cracked-out at PCGS reasonably close to how they graded at the previous slabber. How some of these other companies can consider themselves legitimate is beyond me.

1878 7TF/REVERSE OF 1878 MORGAN DOLLAR
IDIOT TPG'S GRADE = MS66PL
PCGS GRADE = MS63
MY COST = $209.99 - $100 LOSS.

1882-CC MORGAN DOLLAR
ANOTHER IDIOT TPG'S GRADE = MS65
PCGS GRADE = ALTERED SURFACE
MY COST/LOSS = $210.90

Son of a

@$#%$@!

Thanks for putting up with my rant. Guess it's not the end of the freakin' world.

LucyBop · May 23, 2007 11:45AM

it's the end of the world....

TwoSides2aCoin · May 23, 2007 11:45AM

My friend,

Three hundred ten dollars is not expensive when you consider you got a Master's Degree in Numismatics.

AUandAG · May 23, 2007 11:46AM

You're very welcome,,,,,,sorry but I've got some that are properly graded in TPG's. How many of those
would you like. I guaranty that they will cross to NNC or SGS or maybe a few of the others.

bob

jobiwan115 · May 23, 2007 11:47AM

<< My friend,

Three hundred ten dollars is not expensive when you consider you got a Master's Degree in Numismatics. >>

You got that right, Joe

Another Joe

Goldbully · May 23, 2007 11:48AM

<< My friend,

Three hundred ten dollars is not expensive when you consider you got a Master's Degree in Numismatics. >>

WOW!!!

TwoSides2aCoin · May 23, 2007 11:51AM

Joe, on a side note....

I once or twice bought ACG PR70 coins. They came back PCGS PR66 and PR67, respectively

. I learned fast that not all grading companies are alike. There's been a long standing debate on the subject and because it's "subjective" ... well, Here we are

.

Good lessons are sometimes tough ones.

Russ · May 23, 2007 11:59AM

<< I once or twice bought ACG PR70 coins. They came back PCGS PR66 and PR67, respectively >>

Ditto. My very first slab purchase was an ACG PR70CAM 1964 Proof Kennedy. Graded PR67 no cam at PCGS.

Russ, NCNE

roadrunner · May 23, 2007 12:07PM

I can only wish that my losses on bum graded coins was only $300.
Stick with eye appealing coins in top tiered holders and you should do fine. Venturing out means learning and making mistakes in every series you try. Hint: there are more series to mess up in than there are dollars to lose.

roadrunner

ModernCrapNut · May 23, 2007 12:10PM

it's only a couple hours of college tuition

curly · May 23, 2007 12:14PM

Learn from it and move on, brother.

GoldenEyeNumismatics · May 23, 2007 12:16PM

the cost of your education--everyone has to pay it

goldboy · May 23, 2007 12:16PM

<< ..............not all grading companies are alike. >>

A lot of truth to that statement!

CarlWohlforth · May 23, 2007 12:19PM

Even top tier companies sometimes have a change of opinion. Anyway some of the inferior companies are so way off the mark they remind me of how most people grade their own raw coins on eBay.

tmot99 · May 23, 2007 12:19PM

Something that hasn't been said is that PCGS and NGC sometimes slab coins that probably either shouldn't be slabbed or the grade could easily be argued. PCGS doesn't always cross to NGC and vice versa.

Forget the number on the holder. Forget the holder. Look at the coin and use your own judgement on the quality of the coin.

garsmith · May 23, 2007 12:21PM

there are only three TPG's

PCGS
NGC
and all the other crap slabs

Swampboy · May 23, 2007 2:17PM

My first slab was a 1c 1958 MS68RD NTC.

I couldn't even afford a 57 MS67RD PCGS. And I doubt with the scatches on Lincolns head and the carbon spot on his cheek if the NTC would grade MS65RD. Proly not.

ABSilvercoins · May 23, 2007 2:38PM

My first third-world slab contains an NTC-graded 1960 PF69 DCAM Franklin.

If it would only cross to PCGS!

It is a really nice Franklin proof, but perhaps not 69 DCAM.

BlindedByEgo · May 23, 2007 3:02PM

All I can say is that I am glad that I was informed of the PCGS, NGC, ANACS

Every one else gulf early on.

You'll never fall into that trap again. From my observation of others' bloodbaths, you got away cheap.

dorkkarl · May 23, 2007 9:26PM

<< That's it for me - twice is enough, I'm not going to waste time and money on these half-@$$ TPGs, hoping one of their coins will grade raw/cracked-out at PCGS reasonably close to how they graded at the previous slabber. How some of these other companies can consider themselves legitimate is beyond me.

1878 7TF/REVERSE OF 1878 MORGAN DOLLAR
IDIOT TPG'S GRADE = MS66PL
PCGS GRADE = MS63
MY COST = $209.99 - $100 LOSS.

1882-CC MORGAN DOLLAR
ANOTHER IDIOT TPG'S GRADE = MS65
PCGS GRADE = ALTERED SURFACE
MY COST/LOSS = $210.90

Son of a

@$#%$@!

Thanks for putting up with my rant. Guess it's not the end of the freakin' world. >>

take the 1882-cc & dip it, after the putty comes off, it'll grade just fine i bet, although of course i would'nt bother sticking it back into another stupid piece of pla$tic.

K S

ziggy29 · May 23, 2007 10:42PM

Yes, this is critical for people who don't know what they are doing...but it creates a potential opportunity for those who do.

WinPitcher · May 23, 2007 10:51PM

Sorry that happened to you. On a more happy note, Centsles finally refunded me $2,140.00 for some POS NTC slabbed coin bought 5 years ago. Luckily for me it was the only 3rd world slab i ever bought.

No more 3rd world slabs for me.

Steve

ricko · May 24, 2007 12:16AM

Lessons learned.... and most, if not all, collectors pay this price - some more than others. I think my 'tuition' was/has been slightly higher... ah well, if one is learning, one is living. Cheers, RickO

jobiwan115 · May 24, 2007 12:57AM

Some very good points made here, and I appreciate the support, everybody. Movin' on....

Edited to add: Thanks especially to TwoSides2aCoin, Russ, Goldbully, curly, garsmith and ricko. You guys are some of my favorites out here.

storm888 · May 24, 2007 1:00AM

"Three hundred ten dollars is not expensive when you consider you got a Master's Degree in Numismatics."

/////////////////////////////////////////////////////////////////////////////////

Virtually ALL of the knowledge a newbie needs to NEVER get
burned is available FREE on the CU boards.

If there was a way for PCGS - and the other CLCT arms - to
get that message out more widely, rationalizing unnecessary
losses would almost never be required.

ziggy29 · May 24, 2007 1:10AM

<< Virtually ALL of the knowledge a newbie needs to NEVER get
burned is available FREE on the CU boards. >>

True. But the bottom line is that many people have to actually get burned before all that knowledge (and all those lessons) *really* sink in.

MadMarty · May 24, 2007 1:13AM

Learn to grade them, then you can try cherrypicking that 1 in 1,000,000 coin that is actually graded correctly in a 3rd world slab!

NowhereMan · May 24, 2007 1:21AM

<< 1878 7TF/REVERSE OF 1878 MORGAN DOLLAR
IDIOT TPG'S GRADE = MS66PL
PCGS GRADE = MS63
MY COST = $209.99 - $100 LOSS. >>

I think we've all been there. It should raise a red flag when you can buy a $10,000 coin for $210...

Rex

jobiwan115 · May 24, 2007 1:21AM

<< 

<< Virtually ALL of the knowledge a newbie needs to NEVER get
burned is available FREE on the CU boards. >>

True. But the bottom line is that many people have to actually get burned before all that knowledge (and all those lessons) *really* sink in. >>

Yep, that's been my experience.

jobiwan115 · May 24, 2007 1:22AM

<< Learn to grade them, then you can try cherrypicking that 1 in 1,000,000 coin that is actually graded correctly in a 3rd world slab! >>

lol that's probably a very accurate percentage

jobiwan115 · May 24, 2007 1:26AM

<< 

<< 1878 7TF/REVERSE OF 1878 MORGAN DOLLAR
IDIOT TPG'S GRADE = MS66PL
PCGS GRADE = MS63
MY COST = $209.99 - $100 LOSS. >>

I think we've all been there. It should raise a red flag when you can buy a $10,000 coin for $210...

Rex >>

Well, I didn't really think it would grade that high, but I was hoping/figuring it would grade good enough to cover what I paid for it

That's what burned my butt - those chumps couldn't even grade it THAT close!

ABSilvercoins · May 24, 2007 3:41AM

Buying a 3rd-Tier graded coin is just one of those rites of passage.

It seems as if the most astute buyers have had to learn this the hard way as well as the newbies.

The lesson only cost me $150.00, and the coin may actually be worth close to that amount. It is the nicest Franklin proof I ever held in hand--it is just not DCAM.

tahoe98 · May 24, 2007 5:07AM

<< it's the end of the world.... >>

you said it lucy

tahoe98 · May 24, 2007 5:11AM

<< Lessons learned.... and most, if not all, collectors pay this price - some more than others. I think my 'tuition' was/has been slightly higher... ah well, if one is learning, one is living. Cheers, RickO >>

tahoe98 · May 24, 2007 5:12AM

<< 

<< Virtually ALL of the knowledge a newbie needs to NEVER get
burned is available FREE on the CU boards. >>

True. But the bottom line is that many people have to actually get burned before all that knowledge (and all those lessons) *really* sink in. >>

sad and so true.

Writersblock · May 24, 2007 8:37AM

<< 1878 7TF/REVERSE OF 1878 MORGAN DOLLAR
IDIOT TPG'S GRADE = MS66PL
PCGS GRADE = MS63
MY COST = $209.99 - $100 LOSS. >>

I think we've all been there. It should raise a red flag when you can buy a $10,000 coin for $210...

Rex >>

Well, I didn't really think it would grade that high, but I was hoping/figuring it would grade good enough to cover what I paid for it That's what burned my butt - those chumps couldn't even grade it THAT close!

And apparently you can't either otherwise you would have never sent it in for the crossover attempt. You must have thought it would grade better than MS-63 as well.

There is nothing wrong wth buying coins in the fourth tier slabs, as long as you can examine them in person and you have faith in your own grading ability. (Seeing them in person does not mean buying on eBay and having to pay shipping both ways if they don't pan out. That is simply paying the post office a lot of money for the priviledge of looking at someones coins one coin at a time.) And if you DON'T have faith that PCGS or NGC or whatever grading God you worship will grade the coin the same way you do, at least most of the time, you should not be spending a lot of money on coins.

jobiwan115 · May 26, 2007 12:33AM

<< << 1878 7TF/REVERSE OF 1878 MORGAN DOLLAR
IDIOT TPG'S GRADE = MS66PL
PCGS GRADE = MS63
MY COST = $209.99 - $100 LOSS. >>

I think we've all been there. It should raise a red flag when you can buy a $10,000 coin for $210...

Rex >>

Well, I didn't really think it would grade that high, but I was hoping/figuring it would grade good enough to cover what I paid for it That's what burned my butt - those chumps couldn't even grade it THAT close!

And apparently you can't either otherwise you would have never sent it in for the crossover attempt. You must have thought it would grade better than MS-63 as well.

There is nothing wrong wth buying coins in the fourth tier slabs, as long as you can examine them in person and you have faith in your own grading ability. (Seeing them in person does not mean buying on eBay and having to pay shipping both ways if they don't pan out. That is simply paying the post office a lot of money for the priviledge of looking at someones coins one coin at a time.) And if you DON'T have faith that PCGS or NGC or whatever grading God you worship will grade the coin the same way you do, at least most of the time, you should not be spending a lot of money on coins. >>

MY grading ability? What grading ability? I do my best, but given my recent 1st submission results so far, they see things in 30 seconds I don't see in 10 minutes. Guess that's where the hoping and figuring comes in.

Writersblock · May 26, 2007 3:54AM

<< MY grading ability? What grading ability? I do my best, but given my recent 1st submission results so far, they see things in 30 seconds I don't see in 10 minutes. Guess that's where the hoping and figuring comes in. >>

My point exactly. You were spending hundreds of dollars on something where you had no clue what they were. Sorry but you were ASKING to be taken, like a great many newbies do.

If you can't or don't trust your own grading ability, keep your purchases low until you can. You'll lose a lot less money that way.

sonoranmonsoon · May 26, 2007 8:15AM

We have all been there. Look at the bright side. You did not pay tuition at coinvault. An education from them can easily run into the thousands.

Lesson learned: Inferior TPGs

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