Is SEGS a good grading service?

cosmos66 · October 20, 2003 1:05AM

There is a what looks like a very nice 1892 Morgan CC on ebay graded MS 64 by SEGS. Are they a reputable service or should I keep my money in my wallet?

Paul in Pine Hill

braddick · October 20, 2003 1:06AM

How does the COIN appear to you?

Placid · October 20, 2003 1:08AM

Buy the coin not the holder. Got a link?

cosmos66 · October 20, 2003 1:09AM

<< How does the COIN appear to you? >>

The coin looks very good to me but I am afraid I know very little about grading.

cosmos66 · October 20, 2003 1:10AM

<< Buy the coin not the holder. Got a link? >>

Here you go: 1882 Morgan CC

Placid · October 20, 2003 1:10AM

Placid · October 20, 2003 1:11AM

Seems ok to me.

cosmos66 · October 20, 2003 1:12AM

I like the looks of it too but that is a lot of money to throw around without being sure. I appreciate all opinions.

Paul in Pine Hill

Placid · October 20, 2003 1:15AM

Yes a return policy would be good. I would e-mail and ask. If it's no bargain I would look for one that can be returned if the seller says no returns.

cosmos66 · October 20, 2003 1:19AM

Thats a great idea about the return policy. I emailed him and we will see what he says.

paigowjohnny · October 20, 2003 1:21AM

Frost breaks on neck...I wouldn't go more than 63 money for it

291fifth · October 20, 2003 1:24AM

Pass. Wrong holder for an expensive coin.

Wolf359 · October 20, 2003 2:19AM

From the picture, this one looks ok. I believe SEGS has been making a better effort lately, although there's no way to tell when this coin was slabbed.

The return policy is key. Get the coin, show it to a dealer or two for an opinion and then make a decision.

Barry · October 20, 2003 2:29AM

Cosmos - in case you are not aware, you can search the message archives. Just about everything to be said about grading services has already been said, and there's a lot of good info you can find in the archives.

cosmos66 · October 20, 2003 2:34AM

<< Cosmos - in case you are not aware, you can search the message archives. Just about everything to be said about grading services has already been said, and there's a lot of good info you can find in the archives. >>

Well Barry ... you were right. I did a search for SEGS and found all kinds of information. Enough to know that I am not going to bid on that coin on ebay! Thanks ...

Paul in Pine Hill

gemtone65 · October 20, 2003 3:39AM

Notwithstanding the "frost break on the neck", the scan has the appearance of an MS64. However, given the disparity in prices for SEGS versus PCGS/NGC at this grade, you have to think that in person the coin looks and is an MS63. Otherwise, why not cross? No knowledgeable collector is going to pay over $1000 for this coin in a SEGS holder when the PCGS/NGC price for an MS63, its likely true grade, is half that amount.

Deadhorse · October 20, 2003 3:49AM

Frost breaks, rim ding at 11 o'clock, chatter in the field at 3 o'clock, severe rub over ear.

SEGS holder. I'd steer clear of this one for anything over AU money without having it in hand to inspect.

I've seen SEGS be right on with moderns and proofs, but as a general rule of thumb I stay way wide of their slabs.

ohbaby · October 20, 2003 3:50AM

More expensive coins [say $100] which are not in a NGC or PCGS holder are not for a reason.

Sure the adage is buy the coin not holder. I rather say buy the coin and not the NGC/PCGS holder, pass on all other holders.

When it comes time to sell, and the time will come, you will find very few buyers willing to pay market value because of the holder.

Bottomline, sticking with NGC/PCGS will save angst and money in the short or long term.

Placid · October 20, 2003 4:23AM

jimp · October 20, 2003 4:25AM

jimp · October 20, 2003 4:40AM

sorry hit wrong button. what I wanted to say was,I have bought and sold hundreds of morgan dollars,and if they are not in a PCGS holder its always a problem. I know buy the coin not the holder.In real life buy the coin AND the holder. .Just wait , another 1892-cc will come along,that will be nice and in a PCGS holder.

haletj · October 20, 2003 5:43AM

Is SEGS good enough that they wouldn't miss a counterfeit? Say like an 09-s vdb penny?

Barry · October 20, 2003 5:58AM

I took a look at SEGS's web site and clicked on Guarantee. This is what it says:

If within six (6) months after SEGS has graded a coin, the owner of such coin believes that the coin has been over graded with respect to such standards and procedures,
the owner may submit such coin to SEGS in its original SEGS coin capsule for re-grading (see S-4 Service).

The fee for such re-grading shall be $20, and may be refundable.

Provided that the SEGS coin capsule has not been damaged or tampered with, and provided that there are no typographical errors in the grade and/or other identifying information for the coin on the SEGS label, the original grade shall be masked and a re-grade shall be determined.

If the re-grade is lower than that originally assigned by SEGS,

SEGS shall pay the owner the difference between the fair market value of the coin at the newly established grade and the fair market value of the coin at the original grade. Fair market value shall be determined by SEGS based on recent actual transactions in the market place for coins of that type, variety, error, and/or grade.

Apparently they don't guarantee authenticity. If they aren't confident in their own abilities to guarantee authenticity, that tells me something.

Woodwind · October 20, 2003 7:21AM

One thing I noticed is what appears to be a deep "reed" bag mark in the field right in front of Liberty's chin. If that is such a bag mark, my experience is that it automatically takes it down to MS-63.

Still, looks like a great coin, but it apparently is going for more money that it's worth. I can't tell; e-Bay is blocked from my work computer because a guy was fired a couple of years ago for bidding on company time.

jjroll · October 20, 2003 7:46AM

I wonder what they would say about posting on company time????

jjroll

Woodwind · October 20, 2003 7:52AM

<< I wonder what they would say about posting on company time???? >>

They like me too much.

They've seen me do it and are okay, as long as I don't have a deadline coming up.

Besides, our system is moving soooooo dang slow today I need something to do while I wait.

jjroll · October 20, 2003 7:55AM

<< They like me too much. >>

Hopefully they like me just as much, or I could be in trouble...

Is SEGS a good grading service?

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