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Has ICG turned into a 'problem coin' grading company?

pcgs69pcgs69 Posts: 4,396 ✭✭✭✭
in U.S. Coin Forum
Almost all of the ICG coins in Heritage's upcoming Long Beach auction are 'problem coins.' It seems they've made the transition to a problem coin grader.

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    pursuitoflibertypursuitofliberty Posts: 7,827 ✭✭✭✭✭
    IMHO ... they've been headed down that path for a while now



    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242
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    claychaserclaychaser Posts: 4,406 ✭✭✭✭
    It seems like the auction houses want to sell only slabbed coins, as then there is positive serial number ID on the coin if there is a problem, and it makes viewing and handling idiot proof. The buyer gets the coin, and can crack it out for a Dansco or display or whatever. Based on the quantity, I bet that the houses pay a pretty small fee to ICG or other service.


    ==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades



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    commoncents05commoncents05 Posts: 10,099 ✭✭✭
    I think that the cause of all the problem ICG holders in upcoming auctions is due to Heritage's free grading at ICG for all consignments in September.

    -Paul
    Many Quality coins for sale at http://www.CommonCentsRareCoins.com
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    BECOKABECOKA Posts: 16,961 ✭✭✭
    I think that is a good thing. There are too many nice looking problem coins that many don't collect because few would slab them.

    Why spend more than you can afford on a problem free coin. As long as they are appropriately labeled future buyers will know what they are getting and all is good. image
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    COALPORTERCOALPORTER Posts: 2,900 ✭✭
    It looks like Heritage has picked ICG as their problem coin grader and Superior Gal is using ANACS.

    Just because ICG offers net grading doesn't mean they do a bad job with non problem coins.

    Just because a holder says cleaned doesn't mean the coin is total junk, in fact it may be okay otherwise. Remember, lots of cleaned junk makes its way into "normal" holders. image
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    jomjom Posts: 3,532 ✭✭✭✭✭
    Agree. The BEST thing is to have the buyer know EXACTLY what they are getting. Then you can make the appropriate decision on what it is worth to you. It does the hobby a benefit to have even the worst messed up coins "grade" to know what you are getting and whether the coin is authentic....at least.

    jom
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    pennyanniepennyannie Posts: 3,929 ✭✭✭
    ICG is a problem grading company. If you send a coin to them you will have problems. Market does not like ICG coins. If you want to recieve less for your coin than what it is worth send it to ICG. Buy the coin and not the plastic? I like that but the plastic will cost you. Same coin in NGC or Pcgs will bring more. Why pay about the same to have a coin graded just to sell it for less? I send coins to ICG one time and i ending up cracking them out to sell them after the first few auctions brought far to little money. Hard to believe i could get more for a raw coin verse a ICG coin but the proof is in the pudding. I feel for anyone actually paying good money to have coins certified by ICG.
    Mark
    NGC registry V-Nickel proof #6!!!!
    working on proof shield nickels # 8 with a bullet!!!!

    RIP "BEAR"
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    500Bay500Bay Posts: 1,112 ✭✭✭


    << <i> Hard to believe i could get more for a raw coin verse a ICG coin but the proof is in the pudding. >>



    To me, that is the best advertisement for ICG.

    ICG is essentially ANACS now, and vice versa.
    Finem Respice
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    CertifiedGoldCoinsCertifiedGoldCoins Posts: 1,644 ✭✭✭


    << <i>It looks like Heritage has picked ICG as their problem coin grader and Superior Gal is using ANACS.

    Just because ICG offers net grading doesn't mean they do a bad job with non problem coins.

    Just because a holder says cleaned doesn't mean the coin is total junk, in fact it may be okay otherwise. Remember, lots of cleaned junk makes its way into "normal" holders. image >>


    image
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    my early American coins & currency: -- http://yankeedoodlecoins.com/
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    kieferscoinskieferscoins Posts: 10,017 ✭


    << <i>Almost all of the ICG coins in Heritage's upcoming Long Beach auction are 'problem coins.' It seems they've made the transition to a problem coin grader. >>



    It looks like ICG is now the problem coin grading service for Heritage (ANACS used to be) but that dosent mean they are the problem grading service for everything. I bet 90++% of the coins they get are non problem coins.

    Cameron Kiefer
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    PonyExpress8PonyExpress8 Posts: 1,670 ✭✭✭
    My experience with ICG coins has been very good. However having said that I have no recent experience with them after they and ANACS kind of mixed things up.

    Cameron hope your new venture is going well. You are a solid grader in my opinion and I know that is shared by a lot of other folks.
    The End of the Line in the West.

    Website-Americana Rare Coin Inc
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    jdimmickjdimmick Posts: 9,941 ✭✭✭✭✭
    I always kept my comments regarding ICG to my self, out of respect for some of thier graders and ex graders who I think are great assets to this industry as well as there individual expertise in the field. However, IMO, I share similar thoughts of pennyanne. Why pay full service price for submitting coins to ICG that could otherwise be sent to NGC/PCGS for nearly the same cost, yet for them only to sell at a much discounted rate vs the others services holders.

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    coinkatcoinkat Posts: 24,388 ✭✭✭✭✭
    I always kept my comments regarding ICG to my self, out of respect for some of thier graders and ex graders who I think are great assets to this industry as well as there individual expertise in the field. However, IMO, I share similar thoughts of pennyanne. Why pay full service price for submitting coins to ICG that could otherwise be sent to NGC/PCGS for nearly the same cost, yet for them only to sell at a much discounted rate vs the others services holders.

    Jdimmick:

    Well written and I completely agree

    Experience the World through Numismatics...it's more than you can imagine.

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    BoomBoom Posts: 10,165 ✭
    Y'all remember this because it was mentioned quite some time ago, well in advance of the switch!

    ICG is essentially ANACS now, and vice versa.

    Got it? image
    Boom's Retired Registry Set & Boom's Retired Variety Set
    image

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