Hi, new here, and to coin collecting.

mrmr

Hi,
I've been reading the posts for some time, and thought I'd chime in and introduce myself.
I am VERY new to coin collecting.
Actually, I'm not a collector, yet...
I have some coins that I've had since childhood, and am a real novice at this all.
The posts I've read have been incredibly informative, and I rarely leave the board without getting a chuckle.
You people all seem very knowledgeable, and easy to get along with.
I'm looking forward to learning.
A first question:
I have a nice sportscard collection, so I know all about grading services (PSA, Beckett, SGC, etc.)
Any opinions on similar grading companies for coins? i.e.: what would compare to say, Beckett, or PSA as far as grading coins?
Thanks in advance!

mrdq

Your mileage may vary and everyone has a favorite but some generalizations can be made





COPIED FROM REC.COLLECTING.COINS

Subject: Coin Grading and Authentication Services (periodic posting)
Date: Tue, 29 Jan 2002 14:14:57 GMT
From: Reid Goldsborough <reidgold@netaxs.com>
Organization: Excite@Home - The Leader in Broadband http://home.com/faster
Newsgroups: rec.collecting.coins

Coin Grading and Authentication Services
(added info about services for ancients)

First-Tier Services in Terms of Market Acceptance

PCGS (Professional Coin Grading Service)
http://www.pcgs.com
800-447-8848
* PCGS-graded coins have highest retail value of any grading company,
according to the Coin Dealer Newsletter
* Charges $30 for pre-1970 coins for 30-day turnaround, plus shipping
and insurance
* Registered eBay users can submit to PCGS and get a 10% rebate
credited to their eBay account at http://pcgs.com/ebay
* Bodybags problem coins -- no refund of fee
* Guarantee: PCGS, unlike NGC, ANACS, ICG, and SEGS, is not specific
about its guarantee at its Web site. On the phone, a customer service
rep said if you buy a PCGS-graded coin and feel PCGS overgraded it,
you can submit it to PCGS for re-examination. Unlike with the other
services, though, you're charged the regular $25 grading fee for this
re-examination. If PCGS determines that the actual grade is lower than
the grade on the slab, it will work with you, either paying you the
difference between the fair market value of the coin at the
re-examination grade and the fair market value at the grade originally
assigned by PCGS or buying the coin outright from you.

NGC (Numismatic Guaranty Corporation of America)
http://www.ngccoin.com
800-642-2646
* Can be more difficult to get less-than-perfect circulated coins in
an NGC slab than a PCGS slab, depending on the series
* Charges $28 for coins over $300 with 12-day turnaround; $15 for
coins under $300 for 21-day turnaround with 5 coin minimum, plus
shipping and insurance
* Registered eBay users can submit to NGC and get a 10% rebate
credited to their eBay account at
http://www.ngccoin.com/ebay_ngcvalue.cfm
* Any ANA member can submit to NGC by sending their coins to the ANA
Collector Services Department, 818 North Cascade Ave., Colorado
Springs, CO 80903, phone: 800-467-5725
* Bodybags problem coins -- no refund of fee
* Guarantee: If you buy a non-copper NGC-graded coin and feel NGC
overgraded it, you can submit it to NCG for re-examination for free.
If NGC determines that the actual grade is lower than the grade on the
slab, it will, at NGC's option, either replace the coin for one at the
originally assigned grade or pay you the difference between the fair
market value of the coin at the re-examination grade and the fair
market value at the grade originally assigned by NGC, with the fair
market value determined by NGC using "reliable current market
information," which it says do not include Internet auctions/sales.

Second-Tier Services in Terms of Market Acceptance

ICG (Independent Coin Grading Co.)
http://www.icgcoin.com
877-221-4424
* Uses Intercept Shield slabs designed to protect coins from toning
and other environmental damage. Criticized for being too liberal with
PR-70 and MS-70 grades and for overgrading modern coins.
* Only major grading service that authenticates, grades, and slabs
ancient coins, though the slabbing of ancients isn't accepted by most
of the ancient coin community
* Charges $30 for coins over $300 for nondealers for 15-day
turnaround, plus shipping and insurance; $15 for coins under $300 for
21-day turnaround with 5-coin minimum, plus shipping and insurance
* Bodybags problem coins -- credits fee to your account with exception
of $5 processing fee
* Guarantee: If you buy a non-copper ICG-graded coin and feel ICG
overgraded it, you can submit it to ICG for re-examination for free.
If ICG determines that the actual grade is lower than the grade on the
slab, it will, at ICG's option, either replace the coin for one at the
originally assigned grade or pay you the difference between the fair
market value of the coin at the re-examination grade and the fair
market value at the grade originally assigned by ICG, with the fair
market value "determined solely by ICG."

ANACS (Amos Certification Service)
http://www.anacs.com
800-888-1861
* More liberal with grading in general than PCGS or NGC. Problems
noted on the slab can be much more visible than the problems on the
coin.
* Charges $12 + $9 for five-day service + $10 for return shipping and
insurance = $31
* Without five-day service turnaround five to six weeks
* With problem coins, notes problem and gives both technical and net
grade
* Guarantee: If you buy a gold or silver ANACS-graded coin and feel
ANACS overgraded it, you can submit it to ANACS for re-examination for
a $15 fee. If ANACS determines that the actual grade is lower than the
grade on the slab, it will refund your $15 fee and pay you the
difference between the fair market value of the coin at the
re-examination grade and the fair market value at the grade originally
assigned by ANACS, using "the most accurate pricing guide(s) as
determined by ANACS." On the phone, a customer service rep said that
another option you have is to request that ANACS buy the coin outright
from you.

Third-Tier Services in Terms of Market Acceptance

SEGS (Sovereign Entities Grading Service)
http://www.segsgrading.com
888-768-7261
* Attractive slabs. More liberal with its grading in general than any
of the above grading services.
* Charges $10 + $.45 return shipping + $7.85 insurance ($600 coin) =
$18.30
* Turnaround 15 to 20 working days
* Option: Prescreen fee is only $5 instead of normal $10
(authenticates and grades but doesn't slab)
* With problem coins, notes problem (said to be fairly picky in noting
problems) and gives technical grade
* Guarantee: If you buy a SEGS-graded coin within six months after
SEGS graded it and feel SEGS overgraded it, you can submit it to SEGS
for re-examination for a $20 fee. If SEGS determines that the actual
grade is lower than the grade on the slab, it will refund your $20 fee
and pay you the difference between the fair market value of the coin
at the re-examination grade and the fair market value at the grade
originally assigned by SEGS, as determined by SEGS "based on recent
actual transactions in the market place for coins of that type,
variety, error, and/or grade."

PCI (Photo-Certified Coin Institute)
http://www.chattanooga.net/pci
800-277-2646
* Least expensive legitimate grading service. Recently changed
ownership -- questions about erosion of grading standards. Even before
ownership change, grading said to be somewhat erratic.
* Charges $7.50 + $.50 return shipping + $7.88 for insurance ($600
coin) = $15.88
* Turnaround six days
* With problem coins, includes red-bordered label, notes problem, and
gives technical grade
* Guarantee: PCI makes no mention of any guarantee at its Web site.
But on the phone, a customer service rep said if you buy a PCI-graded
coin and feel PCI overgraded it, you can submit it to PCI for
re-examination at no charge. If PCI determines that the actual grade
is lower than the grade on the slab, it will pay you the difference
between the market value of the coin at the re-examination grade and
the market value at the grade originally assigned by PCI, with market
value determined by Greysheet Bid.

Bottom Feeders -- Market Acceptance Only Among Ignorant

With the exception of ACG, the grading services below are "self
slabbers," very small operations that don't provide a guarantee that
the coins they grade are graded correctly or even authentic.

ACG (AccuGrade): Habitually and substantially overgrades compared with
other grading services and compared with both the ANA and Photograde
grading guidelines. Slabs severely cleaned, damaged coins that other
services would not. As a result of its extremely loose standards,
Heritage Numismatic Auctions will not accept for consignment or
otherwise auction coins in ACG slabs.

NCG (National Coin Grading): Meant to be confused with NGC. REPORTED TO NO LONGER EXIST

PCS: Meant to be confused with PCGS.

NTC (Numistrust Corp.)

DCGS (Digital Coin Grading Service)

MCGS (Modern Coin Grading Company)

TCTS (Tom's Coins Technical Services) No longer accepts outside submissions

Authentication Only

ANAAB (American Numismatic Association Authentication Bureau)
http://www.money.org
800-467-5725, 719-632-2646
* Authenticates U.S., foreign, and ancient coins, medals, and tokens.
Does not grade or slab. Coins are accompanied by black-and-white photo
and certificate. Works with about 100 outside experts.
* Charges $23 (members, $5 more for nonmembers) + $8.50 for return
shipping and insurance ($600 coin) = $31.50. AuthenticationPlus
Service costs $5 extra per question, which can deal with issues such
as rarity, value, weight, diameter, specific gravity, variety, surface
characteristics, reflectivity, originality, type of counterfeit, reed
count, and recommended references for further research.
* Turnaround "a couple of weeks to a couple of months" depending upon
availability of experts they work with
* Does not offer guarantee

Foreign Coins

ICCS (International Coin Certification Service)
416-488-8620
Small coin-grading service in Toronto respected in the Canadian market

Ancient Coins

ACCS (Ancient Coin Certification Service)
http://www.davidrsear.com/certification.html
* Authenticates and attributes but does not grade or slab. Coins are
accompanied by black-and-white photo and certificate. Service of David
Sear, author of the Greek Coins and Their Values, Roman Coins and
Their Values, and other standard ancient numismatic attribution works.
* Charges $30 for basic service or $40 for detailed service. Detailed
service includes extra information about the coin's historical
significance.
* Turnaround two to three weeks. With express service, which costs
extra $15 per coin (three coin maximum), turnaround time is three
working days
* Does not offer guarantee

IBSCC (International Bureau for the Suppression of Counterfeit Coins)
http://www.iapn.ch
* Authentication available only for dealer members of IAPN
(International Association of Professional Numismatists). Works with
more than 100 outside experts.
* No certificate issued
* Does not offer guarantee

The British Museum, Department of Coins and Medals
http://www.thebritishmuseum.ac.uk/coins
* Authenticates
* Charges only return postage
* No certificate issued
* Does not offer guarantee

--

Draped Busts: http://www.netaxs.com/~reidgold/draped_busts
The Saint: http://members.home.net/reidcoin/saint

mrmr

Thanks for the info!
There's lots there to consider...

mrdq

MOST of the people prefer pcgs and ngc and anacs. It's hotly debated almost weekly, sit back and enjoy


tom

BNE

Welcome to the boards, mrmr! (is that "Mister Mister?")

As you know, we have a lot of fun here.

Whatcha into? Circulated coins? Mint state? Proofs?

Moderns? Classics? (This is a more heated battle here than the mods and rockers in the 60's!)

Please let us know what you think you might be interested in, and we'll all try to help. The best starting place, as many will tell you, is to READ, READ, READ.

Coin World is a great newspaper for beginning and experienced collectors.

Welcome aboard! The world of coin collecting is endless frustration -- and fun.

coinfinder

Welcome to the boards! I am sure that you will find this place informative and friendly.

Thanks,
Michael

cladking

Welcome. We're all learning so chime in anytime.

MrLee

Welcome aboard mrmr. Enjoy your stay and feel free to ask away.

Russ

Welcome aboard! Got JFKs?

Russ, NCNE

mrmr

Thanks for the responses!
I don't really know what I'm going to be into...everything I have is circulated, I think the first thing I need to do is get a book, and keep reading here.
I've got coins I really know nothing about. Back from about 1890's to now. Indian Head pennies. buffalo nickels, mercury dimes, etc. Regular stuff, but all new to me!
I need to find out what I may have that's worth encapsulating/grading.
I did get what I believe to be a SB Anthony proof years ago in change. Don't know the difference in value of a proof and regular coin.
So much I am in the dark about!!
I'll stay on the board and maybe throw out a silly question or two.
Thanks!

DHeath

Welcome MrMr! Are you a catch-22 fan? Coin collecting is such an engaging hobby. I know you are probably much better prepared as a beginner than I was, but with your permission, I'll reprint my learning curve from a previous post. I hope you find it helpful. I believe a better written version should be a prologue to PCGS's Guide to Collecting and Counterfeit Detection.

Being the devil's advocate, let me say this about the collecting cycle. I think it works something like this:
1. You buy raw BU coins and you're happy they are nice
2. You see that some coins sell for substantial premiums - they are slabbed
3. You learn that PCGS is the most respected slab
4. You estimate the profit you've made on your collection if you only get it slabbed by PCGS
5. You send all your MS65-MS66 Modern coins in and PCGS slabs them as AU58-MS63
6. You send all your AU55 classic coins in and they are graded F-XF, or BB'd for whizzing or cleaning
7. You realize that your collection is worthless
8. You dump it all on ebay, swearing only to buy PCGS, and you find a specialty
9. You start submitting raw coins that are extremely nice
10. For reasons unintelligible to you - PCGS grades them lower than you expect and you get pissed
11. Slowly you learn to grade (1-2 years or more)
12. A few more submissions and you're getting better
13. After months of reading and study, and 100+ submissions, you learn to grade
14. You return to collecting, rather than submitting, and realize that the only time you need to submit
is when you intend to sell. For many collectors, this would be right before they die, and then only
to spare their family the burden of disposing of their collection.
15. You finally know more about grading your specialties than the third-party graders.
16. You now prefer to look at coins before you buy, whether raw or slabbed.

I hope this helps, and you have a good sense of humor.

mrmr

Good stuff Don!!!
Now I KNOW I have much to learn!

66Tbird

Welcome aboard. The cherrypickers guide and a 7x or 10x loupe is another good start for a quick fix on your collection.

BBN

Hello from another newbie. Well, I think people are getting used to me.

prooflike

Welcome to the boards and the hobby! Now, get some books! Knowledge is very important in this hobby...

(This is where you are supposed to ask which books)

mrmr

<< <i>Welcome to the boards and the hobby! Now, get some books! Knowledge is very important in this hobby...

(This is where you are supposed to ask which books) >>




I'd LOVE to know what books!
I picked up 7/30 "Numismatic News" the other day, and was overwhelmed
by the articles and ads...

ROBBItheOKIE

Howdy MRMR, Welcome to the most active forum on the net. Join in and ask away, the first book to get is the Red Book. OUTSTANDING general Information.

RGL

Start with the Bible of numismatics, The so-called Redbook or A Guide Book of United States Coins by R.S. Yeoman, available in most book stores and all coin shops. General values, small summaries on grading, mintage figures, other background. The ANA (American Numismatic Association) grading book is also a valuable reference. Once you determine an area or two you want to specialize in, then we can recommend more specialized books on particular series. The Cherrypicker's Guide by Fivaz and Stanton also a must-have for varieties, doubled dies, etc., although it is far from comprehensive. Welcome ...

Conder101

corrections to rec posting

In the "bottom feeders" NCG no longer exists, PCS may not exist anymore, TCTS no longer accepts outside submissions.

MCGS should be MCGC Modern Coin Grading Company and I believe they are also no longer in existance.

Thanks for the information about ACCS, I didn't know about that one

4bits

I was a newbie to collecting coins two weeks ago, now i am a numismatic expert thanks to all these fine folks here on the board.

Gary

relayer

Welcome.

I'm real new to coin collecting too. So far all I have is my pocket change.

medicain19

Welcome!!! Yes we are fun and always informative.

Onastone

Here's an OLDIE BUT GOODIE....... mrmr was introducing himself, but only lasted about 2 & 1/2 years, did not have one reaction on his profile page, and is going to get a badge "any minute now"

I thought this was interesting because of mrdq's copied info about grading services and DHeath's collecting cycle is funny!!

@mrdq said:

NCG (National Coin Grading): Meant to be confused with NGC. REPORTED TO NO LONGER EXIST

I didn't even know about NCG. That's like having another grading company called PGCS.

ricko

I wonder what happened to @mrmr...Hope he is well...seemed like a pleasant individual with a growing interest in the hobby...Cheers, RickO

oih82w8

Someone/thing ran him/her off...has not posted since Dec 2004 [Last Active December 1, 2004 4:06PM]. (scanning the room suspiciously)

ctf_error_coins

15. You finally know more about grading your specialties than the third-party graders.

This is a very sweet spot to be in

bsshog40

Welcome to the boards! Enjoy the hobby!