Ok, You're an eBay Consignment Seller. Which Slabs are acceptable?

braddick · November 27, 2005 5:16AM

Obviously PCGS and NGC and I'd imagine ANACS.

What about PCI? Old holder PCI ok for you? Not the gold label?

How about SEGS? And, if SEGS is okay, but not NTC, why?

I guess you can mock a seller for handling consignments of coins that you may prefer not to handle, but where do you draw your line?

And, if handling PCI gold is alright by you should your negative opinion of those handling NTC be valid?

Just curious. I've seen killer coins in PCGS; NGC; ANACS holders and even, on that rare occasion, PCI and even SEGS!**
I've also seen the dregs of ugliness in these same holders- all of them.

What is your standard?

**I recently sold an outstanding SEGS rainbow toned Jefferson in an "Artifically Toned" holder that has recently been cracked out by the purchaser and submitted to NGC. It is now in a MS67 holder (with a STAR, I believe).

How about selling the COIN and not being quite so concerned about the holder?

ROBERTB · November 27, 2005 5:20AM

PCGS, NGC, ANACS, AND ICG only. I'd draw the line in the same place as many of the bigger auction houses. Just what I would do though.

CarlWohlforth · November 27, 2005 5:22AM

I take them all. I describe any issues I have with the coin and give my grade opinion if it differs with the label. I don't even list the service and the service's grade in the title if I disagree with the label, that is I treat the coin as if raw.

coinguy1 · November 27, 2005 5:32AM

This could/should make for an interesting thread.

In addition to the decision regarding which grading companies to consider, I think it's potentially equally important to include fair and accurate descriptions. For example, is it any worse to offer a coin which has been certified by a top tier grading company (but which has deteriorated to the point where it's over-graded by two points) and not so note it, than it is to offer one by a third tier grading firm, but which is accurately graded?

Also, does whatever decisions the seller makes pertaining to Ebay necessarily carry over to the seller's website (if he has one), or is Ebay treated differently?

braddick · November 27, 2005 5:37AM

<< <i>I take them all. I describe any issues I have with the coin and give my grade opinion if it differs with the label. I don't even list the service and the service's grade in the title if I disagree with the label, that is I treat the coin as if raw. >>

See? I agree.
Remember those blatant AT'ed Kennedys that were PCGS graded and featured on Teletrade a couple of months back? Should they not be sold- even though the color is obviously fake, they were in PCGS holders, so is selling them legit? How about if those same coins were in NTC holders? Would you eBay them then?

It should be on a coin by coin basis. If the coin is right, regardless of the holder, you're probably in a position to properly sell the coin.
-I've sold less than five NTC coins in the last three years as that is the amount of them I've seen I believe were proper. When I do sell an NTC coin (or PCI gold, for that matter, along with SEGS) I offer the buyer a complete return along with two way postage. That way if the COIN doesn't measure up the buyer is not out one single dime. (I have yet to have a return.)

Sell coins, not plastic, and if the coin is not right to you- whether it's PCGS slabbed or not, then pass on taking it in on a consignment.

flaminio · November 27, 2005 5:54AM

In my opinion, honest sellers should not soil their reputations with bottom-feeder plastic. Yes, sell the coin, not the holder, of course -- but keeping the scumsuckers on the market only serves to perpetuate the cancer that they are on this hobby. Even if you are a completely honest and trustworthy seller, you can't control what happens to the slab after it leaves your hands. The next seller may not be so trustworthy, and all of a sudden some grandpa just blew his lifesavings on a severely overgraded coin.

It is the duty of every honest seller to bust out coins in low-life slabs, and either sell them raw or get them certified by one of the "Big 4".

ziggy29 · November 27, 2005 5:56AM

First of all, I'd not want to put my account and my history next to a vastly overgraded coin regardless of slabber. If an MS-63 coin is in a 65 holder, and I know it's a big clunker for the stated grade, I don't want my buyers to be disappointed in what I "sell".

As much as I agree on selling the coin and not the holder, unfortunately a seller needs to be concerned about their reputation, and their reputation can take a hit when selling third-world slabs. That's not fair, especially when the coin is the rare one that's accurately graded in those slabs, but perception is reality when it comes to trusting a seller, so I'd not want to sell some of the more universally scorned slabs.

Beyond that, any of the "big four" is fine with me (being wary of ICG stuff in MS-65 and higher). I'd also take properly graded, problem-free PCI (most likely first-generation green labels) and some properly-graded SEGS stuff, most likely, even though in those cases I'd advise the consignor (depending on value) that they may want to crack out and resubmit to the top tier if they have the luxury of time and want top dollar.

FatMan · November 27, 2005 6:01AM

I can understand a reputable dealer getting the occasional scammer tier holdered coin because they buy complete collections. I pesonally see these scam slabs as a pox on the hobby and my personal opinion is that a reputable dealer should crack all of these out ASAP and either get them holdered by a top tier TPG or sell them raw correctly described. By not doing so, these dealers are silently endorsing these scam companies. There are many collectors like myself who will not do business with dealers who repeatedly sell these scam slabs, whether graded properly or not. Do yourself a favor and just pass on accepting consignments of any coin not holdered by PCGS, NGC, ANACS, ICG. Or crack out the others and sell raw with accurate descriptions. Those that know me will recogonize that this is not an endorsement for the TPGs I've listed as acceptable to sell. I'm not a huge fan of any of them. But I do feel that the ones mentioned do exist with the intent to get the grade right. The others exist only to screw collectors.

You all can argue and try to convince me otherwise, but it doesn't matter. I'll continue to speak with my wallet. No need to waste my time convincing the dealers who sell this crap otherwise.

cho10 · November 27, 2005 6:03AM

Any of the "big four" PCGS, NGC, ANACS, ICG.
If necessary I'd also take properly graded first-generation green label problem-free PCI.
This could happen when buying numerous coins and 2 or 3 are PCI's for example.

braddick · November 27, 2005 6:05AM

If you were an eBay consigner and you received THIS COIN as part of the package, would you sell it?

What if it was the same coin, with the same grade, in a PCI or NTC holder?
Afterall, the coin is nowhere close to being a true PR69 (due to specks/spots- possibly PVC) on the obverse). Does it being in a PCGS holder make it alight to sell?

CarlWohlforth · November 27, 2005 6:59AM

<It is the duty of every honest seller to bust out coins in low-life slabs, and either sell them raw or get them certified by one of the "Big 4".>

Raw coins have the same potential for abuse as do highly overgraded "certified" coins. A VF coin with a small problem I sell may be hyped as a problem free AU coin by somebody else. Cracking them out may not help. It may not be possible to get them certified by a company acceptable to you for many reasons such as cleaning, rim damage, etc.

Further it may be someone else's coin. If I have a good client who has done a lot of business with me ask me to sell their early mistakes on eBay (raw or overgraded holders) I will. They may have bought the coin as problem free but I sell it noting the problems and they take the loss.

BlindedByEgo · November 27, 2005 7:02AM

<< <i>I can understand a reputable dealer getting the occasional scammer tier holdered coin because they buy complete collections. I pesonally see these scam slabs as a pox on the hobby and my personal opinion is that a reputable dealer should crack all of these out ASAP and either get them holdered by a top tier TPG or sell them raw correctly described. By not doing so, these dealers are silently endorsing these scam companies. There are many collectors like myself who will not do business with dealers who repeatedly sell these scam slabs, whether graded properly or not. Do yourself a favor and just pass on accepting consignments of any coin not holdered by PCGS, NGC, ANACS, ICG. Or crack out the others and sell raw with accurate descriptions. Those that know me will recogonize that this is not an endorsement for the TPGs I've listed as acceptable to sell. I'm not a huge fan of any of them. But I do feel that the ones mentioned do exist with the intent to get the grade right. The others exist only to screw collectors.

You all can argue and try to convince me otherwise, but it doesn't matter. I'll continue to speak with my wallet. No need to waste my time convincing the dealers who sell this crap otherwise. >>

I'm with you.

messydesk · November 27, 2005 7:06AM

If I were to receive anything in a third world slab where certification mattered (e.g., 1884-S MS61 Morgan $1 matters, 1880-S MS63 Morgan $1 doesn't), I'd convince the consignor of the merits of better plastic. I don't consider SEGS and old PCI to be third world, but in cases where the consignor would realize more money from a lot in top shelf plastic, that's what I'd advise. Since new PCI and NTC are treated like raw coins, I would encourage the coins' sale as such. I will not sell coins in holders by companies with affiliations to people on my blocked bidder list.

jdimmick · November 27, 2005 7:11AM

For myself, I list PCGS, NGC, ANACS, ICG and ocasionally SEGS, if I feel the coin is acceptable. However, I will not list NTC or any of the remaining ACG, SGS or other off the wall slabs. My Reputation as a seller is more important. Very rarely do I purchase these coins for re-sell, but if I happen too, I do it based on the merits of the coin and break-em out of thier respective holder. Its been about a year ago since I bought an NTC coin for re-sell, it was a 1895-o Barber Dime in Good-4. Coin was solid, genuine, and all thier, but I broke it and sold it raw in leu of advertising that I deal in those slab companies.

For cosignment, I generally follow the same rule. I have had several of our local club members ask me to place these type holdered coins on e-bay for them, and I refuse to do so.

relayer · November 27, 2005 7:12AM

If you list with 99c open and no reserve, why would the slab matter?

BlindedByEgo · November 27, 2005 7:25AM

<< <i>If you list with 99c open and no reserve, why would the slab matter? >>

Because to the unaware it lends some credibility to the coin, regardless of the holder. JMO.

stman · November 27, 2005 7:39AM

It don't matter to me what anybody sells, as long as an honest description and picture is posted.
Actually I don't care what they sell anyway (to be honest)
But the main point is..... if it's a stranger selling the less than desirable slabs, HANG THEM. If it's board members, it's OK
and give them a free pass and the benefit of doubt (right consignors?) no matter what... even if the description and picture is disingenuous at best.
And I learned all that right here on this forum. Thanks everyone... it's all "crystal" clear now (and always has been). Heh

mozin · November 27, 2005 8:52AM

I think one should stick with the big four: PCGS, NGC, ANACS, and ICG. Anything else should quickly be sold to a dealer who routinely deals in junk slabs.

PCGS still rules in most collecting series.

Ok, You're an eBay Consignment Seller. Which Slabs are acceptable?

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