what's up with teletrade and NCS?

mact

Are NCS certified coins just another way for teletrade to dump crappy coins?

Is NCS just holdering damaged coins?

What is up with a holder saying "NGC unc details"?

I do not understand.


matt

edit for title

sinin1

I do not know but am interested in seeing their NCS only sale on APril 27 -> how do you bid on a coin with no picture without any grade?

mact

the pics are on the website except the ones pictured in the catalog, those are not pictured on the website. It looks like a lot of ugly toned coins and coins with issues.

matt

nwcs

NCS is a very legitimate operation. They holder problem coins but leave the net grading to the buyer. They will authenticate and list problems on the holder. Coins that are not problem coins go to NGC. There is a market and a place for cleaned and problem coins, when properly identified. I wouldn't mind owning a NCS 1877 IHC for example. It means I get a rare coin cheap. And I know what is wrong with it. I think they're adding a lot of pressure on ANACS.

So the NCS UNC DETAILS means the coin has problems (listed below on the label) and has the details of an uncirculated coin. But they won't net grade it. That's the buyer's responsibility.

MadMonk

<< <i>I do not know but am interested in seeing their NCS only sale on APril 27 -> how do you bid on a coin with no picture without any grade? >>



I don't really need any of these, but I just may hit a few at Bullion value to see if they stick.

mdwoods

You can get a discount at three or four grading services if you submit raw coins that are designated to go directly to Teletrade. I have found that you can get many nice coins on Teletrade. Especially since their photos/scans seldom do the coins justice. IMO, Teletrade is like any other venue. You can get choice coins, you can get losers too. mdwoods

Some people prefer to sell on Teletrade because they take care of all the details. You just send them coins, or submit raw coins to be sent to them, and they do the rest. However, like I said above. The photos don't show the coins in their best light.

flaminio

<< <i>Is NCS just holdering damaged coins? >>



I thought that was rather the point of the NCS holder -- coins that are damaged, cleaned, or otherwise unencapsulatable by NGC. Sort of a counterpoint to ANACS' net grading. I don't see a problem with it -- it's an honest evaluation of the coin.

IrishMike

matt, you obviously think very little of Teletrade ergo you calling them teletrash, so my question why are you even looking at their coins and secondly if you have a low opinion of them why do you care what they sell? mdwoods made some valid points as did nwcs. I have cherrypicked several coins from their auctions, some of which were resold to other collectors in person or via ebay. The two net graded NCS IHC's I own I purchased at a Heritage sale, so they must be Heritagetrash.

The one IHC is a 1974 red that would have graded 65 imho. It was shown to several board members at the FUN show and none them saw anything on the coin that was distractive. Mark, coinguy1 took the time to look at it and pointed out to me that it had been lightly wiped but in his opinion he probably would have graded it. Rick Snow found another problem with it that none of us could see even after he pointed it out. The point is that it took two experts to even discern the problems. Several dealers had looked at it too and found no problems with it. NCS had put potential buyers on notice that in their opinion the obverse was improperly cleaned. I therefore own a nice coin at one-fifth the price, that is gorgeous. Chances are if it were cracked out it might get graded.

mact

irishmike,

I am not the first person on these boards to call teletrade teletrash and at the same time look at their catalog. I have bought some coins from teletrade, some good some not so good. I have even bid on a coin and decided that I did not want it and called them and they let it go and did not charge a fee. But I do find that if you are not careful you can get ripped, I know that is your own fault. I guess my main gripe is that most of the coins are generally not scanned and for the fees I would think they would be scanned. What are they hiding. And now that they are appearing to go totally electronic, it seems like a gouge to me.

I admit I know little about NCS.

We can all shop where we want and we can all complain/be critical where we want.

JMHO,
matt

tjkillian

Just because a coin has been cleaned or damaged does not mean it is not collectable. NCS will authenicate coins that have problems. You will generally see more valuable coins that would otherwise not be graded or graded by ANACS. Some folks want an affordable 1802 half dime and don't care at all that it was harshly (or very harshly) cleaned as long as it was genuine. That is what NCS is for.

Tom

goose3

I wouldn't hesitate to buy an NCS coin!
In fact I own one! A 1793 wreath cent. AG or G details. Is it trash? I'd rather have it in an NCS holder ANY DAY of the week over an ANACS "NET" graded one. I decide what the coin is worth.

jeffnpcb

If you spend more time on their site, most of the no grades are just listing them as genuine. Some look to have been run through to many slot machines, but most of them are MS quality, just not the heavy toning that you would associate with Binion names.
It's a chance to pick up some nice MS coins that are genuine, bright and would look nice in a Dansco. Inexpensive way to build a nice set.

Before you blast it, go through all the lots and you may be impressed with some very nice GENUINE COINS, that is what they are representing!

mact

I was just trying to understand that's all.

matt

misterR

The only thing I do not miss about gmarguli (greg) is that he called Teletrade "teletrash". A nicer group of people can not be found and I know that for a fact after dealing with them for around 15 years. I do admit that their images leave a little to be desired, and they keep promising that all coins will be imaged at some point in the future.

ER

Agree with misterR.
The people at Teletrade are first-class. Never had problems with them.
Always quick in answering e-mails.
Always receive my coins within 2 days of paying them on-line.
Only 10% buyer fee.
Once in awhile, they have rebates or free shipping.
The only thing I would caution is never buy any coins without a picture.
They really need more pictures.