Ebay Throws ANACS Under the Bus

If ANACS is good enough for Heritage, shouldn't that tell Ebay something? I guess we'll see a LOT more ANACS on Heritage and Teletrade.

 

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Or will we see Heritage and Teletrade follow ebay's lead?

 

It means no more SGS over graded coins with a price tag of $2500 or more.

 

I think you will see ANACS and ICG slabs loose some more value now. Initially, those who can grade coins, will buy up the better one's and resubmit them to the two top graders. And if Heritage or Teletrade still sell them, they will have a lower market value at auction time. Even now, Heritage deals with PCGS and NGC getting coins graded for their sellers. Not ANACS or ICG.

 

To counter that I have seen NUMEROUS coins that have been cracked out of problem NGC and PCGS holders go into no problem ANACS and ICG holders. Just recently a customer had us send a bust dollar to PCGS for them. The coin came back cleaned in a problem holder. He cracked the coin and sent it to ANACS where it went into a no problem VF holder.

 

I liked Doug's post, but I still disagree with Ebay's action. I think they could have simply required the TPG name be associated with any numerical grade in listings. Then they could have had a community member write up a comparison of the different TPG, and maybe ban a couple of the worst offenders like SGS.

My problem now is that there is no chance for a new TPG to compete. What if CAC got tired of just approving others slabs, and offered a new "green bean grading service" that only slabbed coins that were the same criteria that they would sticker. I would think many would like this TPG, but now they would be forbidden from being sold on Ebay.

I think lack of competition is bad. I agree to a point of protecting buyers, but at some point you cannot protect from stupid. They still are allowing cleaned problem coins to be sold there, so the say uninformed buyers will still be suckered.

 

I hear you, but that is just a matter of degree to me, not a true "problem". My flowing hair dollar was cleaned, I am sure of it, but its in a PCGS holder. Almost all of these older coins were cleaned, and PCGS and NGC gives them more of a pass than newer coins.

 

Yup, I'm sure it happens both ways. That's exactly my point. There isn't a huge demonstrable difference between the big 3--at least as I see it. Certainly not enough for Ebay to give ANACS the heave-ho.

 

I don't feel that bad for the ANACS/HSN coin slabbing service.

 

So wait...

Let me get this straight.

EBay has taken steps to ensure a lopsided marketplace that heavily favors the buyer while placing untenable restrictions on honest sellers, and everyone's complaining about it but will continue using the site anyway??

My shocked face....let me show you it.

 

Maybe list it in Bullion with a higher starting price?

 

But you forgot the soundtrack man.

Uuuhhhhhh?

 

I don't believe this is correct, rlm.

Coins in these unapproved TPG slabs are to be considered raw. ebay rules for raw coins prohibit mentioning any TPG name in the title or auction body. (Of course ebay may change this.)

As for these new policies, well, every company has rules about what fits its business.

- CAC won't sticker anything but PCGS and NGC.
- NGC won't cross anything but PCGS
- PCGS won't accept other TPG's in its registry sets

ebay is doing likewise. They did something similar years ago when TPG's like PCI were excluded.

Some of us are upset because we own ANACS or ICG slabbed coins and now expect a drop in their value. It sucks but it's just another swing in the hobby. I was spitting mad when PCGS killed their copper color guarantee. But you get over it and move on.
Lance.

 

It's good to be a monopoly

Taken from article in auctionbytes.

 

Does anyone think this will carry over to paper currency and PNG and PCGS the only acceptable graders? Seems like the paper currency collectors don't have the problems coin collectors do.

 

Because counterfeiting paper currency is aggressively prosecuted, compared to counterfeiting coins.

 

From a Coin News item this morning: http://www.coinnews.net/2012/04/18/...-updates-to-enhance-coins-experience-on-ebay/

eBay has set qualifications for grading services that ANACS doesn't currently meet. That doesn't mean at some point in the future, they could meet those qualifications.

 

I'd think that's the next logical step...

 

Interesting.

That third point (qualifications of graders) smells like something tailored to make sure only certain pre-selected groups qualify.

The "tamper-resistant" part seems reasonable, although I'd worry that "state-of-the-art" is a wiggle word that could be used to weed out companies that would otherwise qualify.

The buyback guaranty seems highly relevant to a market like eBay.

Which points do ANACS and ICG miss on?