 SGS grading...who are these guys??
I agree to stay away from SGS grading. Here's why...first, there is no phone number listed for this "grading" service. Second, there is no business listed anywhere in the local business directory for that area. Third, their website is nothing more than a single page of pretty much nothing. Fourth and probably my biggest reason never to buy their graded coins, they seem to work with an ebay seller, "Aboncom" that sells primarily SGS graded coins! This seller is listed in the SAME area as SGS coins! Hmmmmmm.
Also, 99% of their coins have a MS70 or PR70 grading. I was tempted to bid and buy two of these graded coins and I was disappointed when I received them. The slab was made of cheap fishing-tackle plastic and the grade was not a PR70. Their "seal" was nothing more than a gold foil tape on the top and bottom of the slab. Their certificate was something that came out of a word.doc. I took this to my local dealer and he laughed at me. Not convinced, I sent them to PCGS (for a crossover) and they wouldn't grade them since I put PR68DCAM as the minimum grade. Both didn't make a PR68DCAM grade and they were both "certified" as PR70DCAM! NOT!!
Here's what I think is goinig on...Aboncom (ebay seller) set up their own grading service so that novice's like myself would gladly bid on a 70 grade. Why not? All looks good and this will surely drive up the bids under the ultimate "70 grade" being wiggled in front of your face. I contacted them and I was quickly "blocked" from doing any business with them. It makes sense...both Aboncom and SGS reside in the same state and I bet they are very close to one another...if not one in the same! Aboncom and SGS slabs are ONE in the SAME!!
Going forward, I only buy (sight unseen) PCGS, NGC and ICG slabbed coins. A lesson I learned, so don't fall for this 70 grade when it is NOT!
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