Ebay Throws ANACS Under the Bus

THIS IS HUGE. I suppose it will be a great time to pick up some ANACS coins cheap

 

Log in or Sign up to hide this ad.

Does this mean Mike Mezak will now look foolish claiming ANACS and ICG to be 2 of the top coin-grading companies? Oh, wait; he has looked foolish claiming that for a long time.

 

ANACS does not sell coins. People get ANACS to grade their coins and then the people sell them.

 

US coin. The restrictions do not apply to non-US coins. So a non-US coin worth over $2,500 can be listed with a higher start bid even if it isn't in an NGC or PCGS slab.

"Second, for US Coins only, grading by companies meeting these standards will now be required for all coins listed with a Buy It Now, reserve, or start price of $2,500 and above."


I also read it as the US coins have to be NGC or PCGS slabbed for a BIN, or reserve auction no matter what the value is.

OK I see we have confirmation from stldanceartist that the policy doesn't mean what it says and needs to be rewritten.

 

I guess my favorite grading company is getting the boot also.

 

To me it reads:
ONLY coins graded by PCGS or NGC can be listed with a Buy It Now.
ONLY coins graded by PCGS or NGC can have a reserve price set
Coins with a Starting Price of $2500 or more MUST be graded by PCGS or NGC.

The last one means that I can list a coin in an auction starting at my sell price unless it has a value of more than $2500. Then, it has to be graded.

The other two tell me that I cannot offer my ANACS PR67DCAM IKE's as Buy It Now listings. I can only offer them as starting price auctions. I choose the starting price as long as its not $2500 or more.

This is al very frustrating and I certainly hope that ANACS and ICG get together with some type of Injunction since it places value only on two specific company slabs. There are many sellers out there with ANACS or ICG Graded coins where the slab really does not matter as much as the authentication. JP Martin who works for ANACS is a very reputable coin attributor. This action be eBay pretty much nullifies his integrity wiuthin the numismatic field by stating that his opinions have no value since he doesn't work for PCGS or NGC.

Under this particular scenario, I would not be allowed to offer my Prototype IKE if it had still been in an ANACS slab which to me seems grossly unfair and biased toward PCGS and NGC "based" solely upon "price" and general perception.
So much for "buy the coin and not the slab"?

 

Not sure I like where ebay is heading. Whether Anacs is in the same category as PCGS or NGC aside, it always helps to have healthly competition. Not only will this increase the amount you will pay for a PGCS or NGC coin, think what that will do to submission prices for both PCGS and NGC. I have a feeling its going to go to thier heads.

 

I don't think that you're reading it right, 19Lyds.

"Second, for US Coins only, grading by companies meeting these standards will now be required for all coins listed with a Buy It Now, reserve, or start price of $2,500 and above."

That means it needs to be a PCGS or NGC coin if the BIN is $2500+, or the start price is $2500+, or the reserve is $2500+.

It will be perfectly fine to list raw coins with a BIN, reserve, or start price under $2500.
Lance.

 

i won't deal with ebay anyway

 

Oh, OK guys. Thanks for the clarification......

 

I'm confused why eBay thinks that NGC and PCGS graded coins are somehow superior to ANACS and ICG graded coins. We know that the top two TPG's grades are usually more consistent and the slabs are more "valuable", but if you think of it, in the end it's the coin that matters, not the plastic it is encased within. It seems to me that all this is doing is making it harder for sellers and has the potential to increase the grading costs/premium at NGC/PCGS, as Tater suggested. What is the most shocking part is the AT coins, the FDOI coins, and the basement graders are still there, and won't be affected in any way by this rule change

 

What's funny is that Ebay has rejected ANACS whereas Stack's, which actually vets the coins it sells and has been in numismatics for decades, still welcomes them.

 

In my email from ebay:

"First, listings for coins will be allowed to include a numeric grade in their listing title or item description only if the coin grading company meets certain objective standards.* Coins that haven't been graded by these companies will be considered raw or ungraded. Currently, eBay has determined that only the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS) meet these standards."

Cannot mention a numerical grade unless it's slabbed by NGC or PCGS.

"Second, for US Coins only, grading by companies meeting these standards will now be required for all coins listed with a Buy It Now, reserve, or start price of $2,500 and above."

US coins at or above this price point MUST be graded by NGC or PCGS or they can't be listed on ebay at all. Bids can go higher than $2,500.

I don't have any problem understanding this.

Unfair? Maybe. But perfectly clear.

 

Sounds like 11c is either going to have to be auctioned off for a price near true value or graded by a real company.

But in all honesty, this actually sucks. I think ANACS is reputable. ICG not so much. ACG? Been in the gutter since the start.

 

Really, you can still sell raw coins or coins graded by other companies just as much. The only caveat is coins that you value at over $2500, you'll need holdered by NCG or PCGS (unless you start bids at $2499). And, you just can't assign a numerical grade anymore to coins other than PCGS or NCG.
If you have an ANACS slabbed Roosie, you'd have to list it as "1964 D Roosevelt Dime ANACS Slabbed Circulated" instead of "1964 D Roosevelt Dime ANACS Slabbed AU-50."

Doesn't seem like too big of a deal.

 

Ok, so let me get this straight.

You can still list 'Raw' coins, as long as they are under $2500, but it is preferred that they are graded?

 

List in the bullion section - that will not be touched I believe. Most people looking for a UHR will put in a search term "High relief" so it wouldn't matter if it is listed in bullion. Downside is that the buyer won't get eBay bucks then - they might not be willing to pay as much.

 

What do you mean by what is preferred? No one is saying, and who cares? This is about rules, not what is nice.

Must you decide what the grade is? Well, you can't cite a numeric grade if it's raw (non-PCGS/NGC). Past rules suggest that you can probably still say "looks VF to me". Or not.

Bottom line is ebay wants to clean up the trash. No more $1million 11c coins. No more "ANACS says XF 40 but looks like an AU55 to me".

I'm not saying this is all good news. But I think they're moving the right direction.
Lance.

 

No, just the opposite. You cannot list a grade if it isn't slabbed by NGC or PCGS supporting your claim.
You might be able to say "high grade" or "medium grade", for a raw coin, but not a specific grade.

 

These are the kind of antics that e-Bay can get away with ever since they sucessfully killed off the other auction houses (yahoo, ect.) a long while back. Ebay didn't used to suck so bad - I've been a member since 1996 but hardly sell anything anymore. For one, there's very little seller protection. I sold a vintage Atari system a while back, and the seller did not pay within 30 days so I re-listed the system and sold it. The new buyer left + feedback but the nonpaying "buyer" was able to leave negative feedback even though he never paid. e-Bay confirmed this thru Pay-Pal, and and all the messages I sent asking for payment were thru the e-Bay system. e-Bay would still not delete the negative feedback. I was not able to leave anything other than positive feedback for the non-paying original high bidder, which I obviously did not do. Not sure if it's that way anymore but that really turned me off on selling things.

The also require Pay-Pal as a payment option, which costs the seller more money. But ending my rant and getting back to the OP, e-Bay can do whatever they want - where else are you going to go? Anyone remember when you could buy/sell firearms on e-Bay? All dealer to dealer only so totally legal. They stopped that. Then magazines that held more than 10 rounds. Then most gun parts. Then finally all magazines. I think holsters and books about guns are still OK, but are probably on the list to be banned. It seems that most of the these idiotic decisions are made either for politcal reasons (evil guns) or ignorance (the ANACS deal).

Too bad there's no viable alternative.