Hi all! I'm pretty new to the coin world and just starting up my collection. I just purchased some coins graded by NPG. I know, these guys are some clown graders but I got them for a very good price. If I posted some pictures, could you guys help me determine if they are accurate graded, or if I should smash em out of the cases and start fresh? Thanks a bunch everyone.
When purchasing a coin, always make your decisions based on YOUR interpretation of coin condition. This goes for raw coins and slabbed coins, regardless of the TPG that issued it. If you prefer coins in slabs then it is advisable to stick with the TPG's that are generally respected by the coin collecting community. Depending on who you talk to, there are 1 to 4 TPGs that fall into this category. If you have a coin in a slab not issued by one of these respectable TPGs, then the slab is essentially useless. In fact, even if the coin is graded accurately (doubtful), being in an NPG slab probably hurts the value. People tend to not take such coins seriously because the slab is a joke by default. I would crack it out no matter what. By the way, TPG= Third Party Grading Service
Thanks cherd. I was just wondering if it would be better to leave it in there with a grade. I'm happy either way, cuz I got them for cheaper than the price of a the silver in them. Thanks a bunch
Glad to help, but there are others prowling these forums that could provide more concrete advice than I. They will be asking for photos of the coin before offering anything in addition to what I have said, so you may as well get some posted.
Pics would be nice; however, I can tell you 100% certainty, the coins would be overgraded by several points. NPG is known as a basement grader.
Besides the distinct possibility of being overgraded, there is also the possibility that they are problem coins. Otherwise, they would be certified by a reputable TPGS. You stated that you purchased them for a price below melt value, but if you tried to sell them, you wouldn't get melt value for them anyway if they were problem coins. So, it is likely that you might lose money just the same. Another thing you may not have considered is that they may be counterfeit. If that were the case, they would in all likelihood, be worthless. Unless you are knowledgeable in grading, problem coins and counterfeit detection, it is always a bad idea to buy coins from any "bottom-feeder". These people prey on uninformed buyers. Chris
+1. Numismaticnoob, since you are new, I would stick with PCGS and NGC, and ignore all the others until you are more comfortable. Even then, I personally only stick with those two, although plenty of people here will also recommend ANACS and maybe ICG. Even if you see those off-brand slabs for really cheap, I would avoid them, as everyone has already stated. There are just too many horror stories, and those bottom-rung TPG come and go so fast it's not funny. You could also buy raw coins from known reputable dealers, which might save you some money vs NGC/PCGS slabs, if price is your primary concern. People here can recommend plenty of dealers. The other options would be to buy less coins, to accomodate the fact that you will be paying slightly more for a slab from a "Real" TPG, vs the charlatan TPGs'. Meaning, instead of buying 3 slabbed coins by XXX, buy 2 from PCGS or NGC Also, Welcome. :welcome:
