ACG’s problems

dan1ecu

So, do you think that ACG’s problems are simply the result of incompetence, or do you think that there is some dishonesty involved? I’ve read that the owner slabbes and sells his own coins. That would be a conflict of interest, wouldn’t it? I wonder how they are able to attract graders to work for them. I would think that it would be difficult for a former ACG grader to find work at another grading company. Also, do you think that they are getting less and less business with all of the negative publicity?

Dan

Clankeye

My guess is that ACG has a core of unethical confederates who keep the business coming. Those in the know, am I wrong about this?

wingedliberty

Unfortunatly their business will probably increase. New comers to the hobby who dont know better
will be tempted by their $5 grading fees. As they say , you get what you pay for. There was a new
comer to the hobby at our coin club meeting, he was tempted by ACG on Ebay. He though he got
bargains, using Coin Trends. He thought he paid only a fraction of what the coins were worth. What
he really got were MS63 Morgans inflated to MS65, which he paid double CW trends. We broke the
news to him gently.

Brian.

littlewicher

They're only in it for the money. Unfortunately they're not trying to further the spread of Numismatics, instead they're just slowly crushing it. That's why it made me so mad when the ANA accepted ACG's donation. I realize that they can use the money, but the end result will be much worse then what they anticipated.

4thStooge

<< <i>ACG’s problems are simply the result of incompetence >>



Not in Alan Hager's case. He can grade as well as anyone...IF he chose to. Also, be advised that Alan Hager was sued and lost in a suit regarding the misrepresenting of grading/value of ACG graded coins.



<< <i> I’ve read that the owner slabbes and sells his own coins. That would be a conflict of interest, wouldn’t it? >>



How is that markedly different then the dealers that grade their own raw material in their showcases?



<< <i>I wonder how they are able to attract graders to work for them. I would think that it would be difficult for a former ACG grader to find work at another grading company. >>



What ACG graders do isn't really a skill at all. In many cases submitters can buy the grade they seek. For the most part, anyone that has been around this hobby for a year or two can grade well enough to take a shot at it with a company like ACG.



<< <i>Also, do you think that they are getting less and less business with all of the negative publicity? >>



From what i can see (and I don't particularly pay that much attention to them) ACG is slabbing fewer coins in recent months.

wingedliberty

Not did they just take the donation, they also took their advertising money. ACG runs
ads in the Numismatist. I guess the ANA figured they could not afford more litigation. cowards!!!,

dan1ecu

4th Stooge - That’s a good point about coin dealers grading their own raw coins being similar to Mr. Hager slabbing his own coins and then selling them. The only difference that I can think of would be that a slab would appear more “official” to some people. This might make it easier to fool the inexperienced collector. Also, I would think that most coin dealers would be reluctant to consistently overgrade coins (it would be bad for business!). Anyway, If I were Alan Hager, I’d close up shop at ACG and start a new company. I might even change my name. Too much damage has already been done. It’s a shame.

Dan

wingedliberty

Is it true that Hagar invented the slab in 85 and pattened it, and that every grading service
that sets up shop has to pay him $200,000 for pattent rights. I dont know whether its rumor
or not. , but if true that would be $1.4M from the seven that set up since 85. Can someone shed
light on this.

Brian.

Conder101

It was 1984 not 85 and yes from my understanding the other services were paying Alan licensing fees up until about 1990. The amount of the fees I am not privy to. For awhile ACG even had to stop slabbing because part of thei licensing agree ment with PCGS included an non-competion clause. For that reason ACG was not slabbing between 1987 and 1990.

Personally I think part of ACG's problem is hat there has to be someone at the bottom of the pile and that company gets dumped on. Back in 1984 - 1989(?) that was NCI. ACG was actually rated much higher while NCI slabs dropped to a rating of 45% on the bluesheet. (The NCI pieces I see today seem to me to be fairly accurately graded, but back then they were consideed a joke.) After NCI and INS closed down ACG became the bottom rung company and they got dumped on.

Bear

Around 1980, Alan Hager had his office near Brentwood and I bought PL Morgan dollars from him.
I remember him as a rather pleasent fellow. He did know how to grade accurately and Im sure he
still knows how to do it correctly. He Developed the slab conceipt and wrote a two volume book on
His specialty, at the time, Morgan Dollars. He was a bright and cheerful guy in those days. Im kind of sorry
that he has appeared to become the poster boy for sleeze. Its rather sad he has used his knowlege for ill rather then
for good. I guess that there is always hope he will see the light. Bear

Clankeye

Almost makes him sound like Darth Hager. Seduced by the dark side.

Bear

Clank - The quest for money can sometimes do terrible things, to otherwise good people. Bear