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NNC, NTC, ACCGS, SGS MS67+ Graded Coins
Manorcourtman
Posts: 8,441 ✭✭✭✭✭
Anyone else ticked that dealers sell this crap to the newbies that have no idea what they are buying?? I find it deplorable that these overgraded coins are starting to dominate eBay. If you search or look at dollars on eBay these crap coins dominate the expensive highlighted section first brought up in searches. Several major dealers which will remain unnamed are also offering this crap. Have they no morals and has the dealer community sunk to new lows??? I realize 90%+ of the dealers are true professionals but 5-10% are going to leave a very bad taste in the mouth of new collectors in the next few years. Comments are welcome............Chris
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Russ, NCNE
<< <i>Anyone else ticked that dealers sell this crap to the newbies that have no idea what they are buying?? I find it deplorable that these overgraded coins are starting to dominate eBay. If you search or look at dollars on eBay these crap coins dominate the expensive highlighted section first brought up in searches. Several major dealers which will remain unnamed are also offering this crap. Have they no morals and has the dealer community sunk to new lows??? I realize 90%+ of the dealers are true professionals but 5-10% are going to leave a very bad taste in the mouth of new collectors in the next few years. Comments are welcome............Chris >>
I would like to see it as common practice that dealers flaunt the fact that they only deal in encapsulated coins from PCGS/NGC/ ANACS/ICG. When I see a dealer with more than a couple of crap company slabs I choose not to deal with them.
<< <i>Several major dealers which will remain unnamed are also offering this crap. Have they no morals and has the dealer community sunk to new lows??? >>
"Major Dealers" well the good thing is they can't be board members of course. And if they are I've heard it's OK and they get a pass.
Have they sunk to a new low?..... Naw, I've seen nothing new!!!!!!
No Mas thanks to the board members here.
i buy only the big 3 or cheap raw coins !
Proof
About two weeks ago I stop into a friends local shop. Thier is a guy sitting down trading out some generic morgan/peace dollars. He is relatively new to the area so I didnt know who he was. The dealer who is a friend asked me if I wanted to look through his box of Morgans as he was looking to generate some cash. Well I didnt see anything I liked, but as we were talking, he asked the dealer where he might be able to sell a 1922 peace dollar in Ms-67. I asked if it was holdered and he said yeah, PCGS, I spoke up and said that that coin would best sold thru a Major auction house as it would never sell here locally, and probably not even to well on E-bay. He said he paid 3500.00 for it, and would like to get what he paid for it. I looked at the sheets and noticed that in the cdn its about 7k, so I am thinking I may be able to help him, but first I wanted to look at the coin to make sure it was holdered by PCGS and more importantly a definite 67 coin. I asked him to bring them to our local club meeting the following night.
Well he brought them as well as a set of three 1921 P/D/S Morgan dollars in Ms-65 that he wanted to place in the auction. The 1922 Peace dollar was listed as a 67, but in a SGS holder. This coin was at best a 65. I told him this coin was worth about 100.00 . He was totally shocked to say the least and had no idea that he was screwed so bad as he assumed the coin was a 67 becuase that what the holder stated. Then to top that off the three 1921 PDS Morgan's were all graded Ms-65 by NTC and none were better than 63, possibly one might 4. He paid 500 for the set of three thinking he had gotten a good deal?
Another story, a local flea market coin vendor here has gotten a taste of NTC. He has started sending in all his coins to NTC and getting grades back that was making him smile. Un-educated flea market coin shopers are stopping in and buying these coins that for the most part are ""just a bit overgraded"" or contain problem not noted of course.
jim
<< <i>i am surprised that the FTC doesn't get involved. I do believe that it constitutes deceptive advertising at the very least and most likely blatant fraud. >>
As I see it, the big problem is the inconsistency of the reputable services. If you look about gradeflation, crackouts, etc. and show a few examples to an intelligent non-collector, try to convince him there's a difference between PCGS and NTC.
I think barry has a very valid point here. I was just reading another thread where several members posted coins that were bagged on the first try and graded on the second trip by PCGS. And other threads where a coin has been sent in many times with different results, or crossovers that go 1 for 8 and 0 for 10. I'm not supporting these other TPGs but untill PCGS and NGC (IMO ANACS is much better at consistant grading) can find a way to be more accurate, consistant, and provide a method of grading that is universial its impossible to go after these companies. Put another way as long as we expect the TPG's to reflect their perceived eye-appeal as part of the grade the door is open for a firm to manipulate this factor.
I have no way to resolve this problem, perhaps coins should be graded on strict technical factors only and leave the market grading or eye-appeal to the free market to determine.
Chris
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.