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Which grading company?
BadKarma
Posts: 16
This is a totally n00b question and is likely the most beaten dead horse around.
But what are the pros and cons for each of the grading companies?
I have never delt with any of them and have a hard time figuring out what the hullabaloo is all about.
I mean, are they honest? do they grade accurately? do you get the same coin back? whats the price? is it worth it?
Who's most respected? who"s not?
I collect the coins I like and avoid "slabs" because of the high prices and I never sell coins. They are not an investment to me.
I collect Silver Eagles because I like the looks, feel and shine of them. Same goes for Maples and Libertads.
But all the talk of ANACS and PCGS and the others has me wondering what y'all think.
Thanks
Karma
But what are the pros and cons for each of the grading companies?
I have never delt with any of them and have a hard time figuring out what the hullabaloo is all about.
I mean, are they honest? do they grade accurately? do you get the same coin back? whats the price? is it worth it?
Who's most respected? who"s not?
I collect the coins I like and avoid "slabs" because of the high prices and I never sell coins. They are not an investment to me.
I collect Silver Eagles because I like the looks, feel and shine of them. Same goes for Maples and Libertads.
But all the talk of ANACS and PCGS and the others has me wondering what y'all think.
Thanks
Karma
24 hours in a day, 24 beers in a case. Coincidence? I think not!
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In order of my preference:
PCGS
NGC
ANACS
ICG
PCGS is generally considered the top TPG service. They have slow turn around times for Economy and Modern submissions, and are a little mroe expensive, but coins in their holders usually bring more money than a coin of the same grade in other companies' holders. PCGS also guarantees turn around times on Regular Submissions and higher tiers, and will give you free submissions if they are late on these.
NGC is generally considered the #2 service. They are quick with their turn around times, a little bit cheaper on the fees, but generally, their coins bring a little less than PCGS. They do not guarantee any turnaround times, but are generally on time.
ANACS is generally considered #3. They net grade problem coins, which makes them preferrable to the other two if you want to slab a coin with a problem. They will give it a details grade, a net grade, and notate the problem, whereas the top 2 will bodybag the coin, and not holder it. ANACS fees are very cheap, and they have great turnaround times, except for Economy. Never send coins to ANACS on Economy, it's worth the few extra bucks per coin to send it in at the next level up...
I think that covers it... most of the other TPGs aren't worth alot, though notable services are ICG and SEGS. They are decent, but not that great. Nice coins, and nice deals can be had in their hodlers since they sell for a good bit less than the Top 3... but, beware, I do not buy any of the lower tier slabs without seeing the coin in hand, or at least a good return policy from a trusted seller.
42/92
<< <i>I mean, are they honest? do they grade accurately? >>
Each grading company has its own standards. Grading is subjective. The top companies tend to have similar standards, but any coin can grade differently at different times even at the same grading company. Companies which are not in the top tier may have standards that differ greatly, which could mean it's one company's 65 might be another company's 62.
<< <i>do you get the same coin back? >>
Yes.
<< <i> whats the price? is it worth it? >>
Prices vary, but each company has that info on its web site. You said you aren't looking to sell, so in that case I'd say it's not worth it to you.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
In my opinion there are only 3 companies you should look at;
PCGS
NGC
ANACS
This is somehwat of a 'religous' issue, as you will hear people swear up and down (almost as if they wish to convince themselves) that a particular company is either best, or deserves to be listed with the 'top 3' I have listed already. In my opinion its a personal preference, but *in general* you can't go too far wrong if you stick with these 3 companies. All bets are off with any of the other TPGs. Once again, my opinion.
Note: As someone else has mentioned, ANACS will encapsulate problem coins, so before you buy an ANACS coin sight unseen, you should ask if it has been 'net graded'.
Forum Mantra---"Buy the coin not the holder" Please repeat 10 times!
PCGS, NGC and ANCS are mainly the only coins I will buy from a picture or description on BST thread, any other I want to have in hand.
Beware of auctions that show a lower tier grading company slab, but quote PCGS/NGC pricing.
The Greysheet lists the discount for the top and second tier slabs (IMO based a small sampling). Some are significant.
I did gamble on a few PCI coins that I paid a significant discount for based on their assigned grade, both were designated PR-66 Cameo, although I do agree both are 66, I only think one would cross to PCGS as a cameo (weak reverse on other).
The coins I bought were PCI "Gold label" which represent the period when their standards were considered lower, and grades inflated.
However, just because it is a PCI green lable or PCGS old green holder (OGH) doesn't mean it will automactically cross / upgrade.
Welcome and good luck
A witty saying proves nothing- Voltaire (1694 - 1778)
An error does not become truth by reason of multiplied propagation, nor
does the truth become error because nobody will see it. -Mohandas K. Gandhi (1869-1948)
Not that I totally disagree but for a noob I think "buy the holder NOT the coin" would serve them better until that time comes when one feels comfortable buying the coin and not the holder. (which may never come for some)
Joe. IMO
buy the coin, not the holder....took me a while to learn that....oh wait I'm still learning....
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<< <i>Forum Mantra---"Buy the coin not the holder" Please repeat 10 times!
Not that I totally disagree but for a noob I think "buy the holder NOT the coin" would serve them better until that time comes when one feels comfortable buying the coin and not the holder. (which may never come for some)
Joe. IMO >>
This is the right way to look at it, I think.
Don
here
"DCGS (Digital Coin Grading Service)
Advertises that its slab is the only one that lets you see the edge of coins.
MCGS (Modern Coin Grading Service)
Slabs let you see edge of coin."
In my thinking it's $99 for 5 freebies (NGC) vs $199 for 8 freebies (PCGS).
And Happy Holidays!
My Odds&Ends eBay Stuff to fuel my coin habit (No Coins)
<< <i>Forum Mantra---"Buy the coin not the holder" Please repeat 10 times!
Not that I totally disagree but for a noob I think "buy the holder NOT the coin" would serve them better until that time comes when one feels comfortable buying the coin and not the holder. (which may never come for some)
Joe. IMO >>
Buying coins in 'plastic' my first collecting saved me a lot of grief and dough.
I made mistakes. I have turkeys in some of my slabs, true.
I just think there's a lot to what Joe said.
<< <i>
<< <i>Forum Mantra---"Buy the coin not the holder" Please repeat 10 times!
Not that I totally disagree but for a noob I think "buy the holder NOT the coin" would serve them better until that time comes when one feels comfortable buying the coin and not the holder. (which may never come for some)
ditto
At the beginning I bought too many raw coins which I thought were good investments. It turned out they were all body bagged by PCGS. They apparently had been cleaned or dipped. They no longer became an investment.
<< <i>Like everyone here has said millions of times
buy the coin, not the holder....took me a while to learn that....oh wait I'm still learning.... >>
Step one is learn how to grade. Without that, a novice can't tell much about the coin, or the holder. For an average collector, learning to grade will take a year or more of looking at coins. Some talented folks learn quicker than that, and it can be accelerated by taking courses, reading a lot, looking at lots of coins. Some less talented folks or those with bad eye-sight or poor attention to detail may never become experts at grading. That's ok. A person can still get better and at least be an average at the task.