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Question from someone who owns no gold or silver but is looking to buy a few items.

1970s1970s Posts: 3,093 ✭✭✭✭✭

What percentage (if any) of coins in NGC holders (gold and silver) may be fake ?

I'm looking to buy some $50 gold pieces in NGS MS70 holders and silver quarter and dollars in NGC holders.

I'm not asking this to bash a company. I'm just asking this because I've heard that there are many people trying to get fake stuff slabbed.

So am I basically safe with NGC, or is there a 5-10% chance that what I buy may have passed by the graders.

thank you if you take time to respond

Comments

  • PokermandudePokermandude Posts: 2,709 ✭✭✭

    I wouldn't spend any extra on 70 grade gold. If you're concerned about counterfeits, find holdered gold that doesn't cost much extra above a raw piece. And/or just buy from a reputable source, and you'll be fine.

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  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    :) !!!

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  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭

    @Pokermandude said:
    I wouldn't spend any extra on 70 grade gold. If you're concerned about counterfeits, find holdered gold that doesn't cost much extra above a raw piece. And/or just buy from a reputable source, and you'll be fine.

    Agree but be aware that there are counterfeit slabs in the marketplace.

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  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭

    It's hard to know a percentage.

    know your coin and you will have much, much better chances.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭

    if you want gold for "having some gold" then definitely don't buy it graded.

    if you are fearful of fakes, then ask for some reputable seller names here.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    edited July 16, 2018 3:23PM

    Rarely is a coin in a PCGS or NGC holder a fake unless the holder is also fake. If you can educate yourself on fake holders then you have pretty much protected yourself.

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  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Why do you want MS70 coins? Those trade for high premiums...Why not just buy directly from the U.S. Mint? Those are high grade coins, and authentic. True, the mint gets a premium as well, but no doubt about quality and authenticity. Cheers, RickO

  • ashelandasheland Posts: 22,612 ✭✭✭✭✭

    It's very unlikely you'll find a real slab with a fake coin inside, it's the fake holders you need to watch out for.
    Just buy from a reputable dealer and you'll be fine.

  • CoinPhysicistCoinPhysicist Posts: 597 ✭✭✭✭

    The graders at NGC and PCGS aren't slabbing fake gold coins as real. As long as you buy from reputable people, you should have nothing to worry about. Frankly, I wouldn't pay the premium for an MS70. I challenge just about anyone to consistently separate out the MS69's from the MS70's. Probably next to impossible. I would buy raw, especially if you want to own gold just for the sake of owning gold. Premiums are too high on slabbed coins, you will be underwater the moment you buy it.

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  • ADGADG Posts: 423 ✭✭✭

    If you buy raw gold coins online (Ebay, etc.), you better know a lot about what you are buying. If not, stick with slabbed (NGC / PCGS) coins. As noted in many responses, lots of altered / fake products out there. It's where the money is to be made.

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  • jmski52jmski52 Posts: 22,308 ✭✭✭✭✭
    edited July 29, 2018 9:48AM

    Unless it's a scarce coin, most modern gold & platinum coins in MS-69 plastic don't carry much of a premium. If you are stacking for bullion content, there's no reason to go with MS-70 grade.

    Apmex and Kitco both offer rolls of bullion coins that are direct from the mints, so they are 100% verifiably genuine, although they charge a premium for those rolls. Other major bullion sellers should be about as reliable in terms of authenticity as well.

    (I've never ordered from Kitco, so I would be interested in any feedback from someone who has. Do you pay a duty for shipments from Canada? Apmex seems to be competitive with Maple Leaf pricing, so I'm wondering how that works if you order something from Kitco?) I may start a separate thread with this question.

    I pretty much agree with all of the above posts. You've got some good answers.

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