Ebay Throws ANACS Under the Bus

Do you have a citation on this? I am not aware of such a lawsuit.

 

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In a story about Ebay's new policy in today's Coin World, Larry Briggs, owner on SEGS doesn't appreciate being called a "low tier" grading service. He believes the collecting community considers his firm among the top five TPG's.

 

:dead-horse: Slabing coins is a business $$$$$$$$$$$ anacs bottom of the barrel pcgs top of the barrel ?? who knows who cares, beauty is in the eye of the beholder, putting a coin into a piece of plastic & writing whatever on it dosn't make the coin a supercoin. But I'am wondering if you slab mike misewax what grade he would be given:yes:

 

Larry Briggs may be extremely knowledgable about all things numismatic, but his grading standards are questionable. With a high-fallutin name like "Sovereign Entities" you would think he would know better than to give straight grades to corrupt coins.

 

One of the problems is that ANACS has been somewhat inconsistent in the grading and slabbing of problem coins. A lot of individuals that I know will often take their body bag coins from PCGS and NGC, and send them out to ANACS, and get them through with a grade. Several dealers that I do business with have admitted doing this, and as such, the value of ANACS coins has been all over the place. This is especially true of early large silver and big copper (e.g.. Bust Halves, Seated Liberty Halves, Large Cents, etc.) when tooling was a common practice.

 

Check this out!

http://www.dig4coins.com/news/latest-news/ebay-faces-a-lawsuit-for-identifying-real-coins-as-fakes
read more further down ..
Comments (11)
help with sueing anacs for theft of coins and switching coins.
11 Tuesday, 17 April 2012 14:39
george pollog
i need some advice and assistance for the theft of ddo/ddr coins sent to them to grade Feb 25 I got these back today 16 April 2012, two were switched out they were perfect DDO and DDR reverse both-sides perfectly doubled, BETTER THEN MOST DOUBLE DIES I HAVE SOLD, and replaced with regular quarters from circulation. i paid a premium for special grading for error and foreign they just stole them !!got simply robbed by ANACS. HELP PLEASE.

 

An allegation, not proven.

I discount several of the other comments as having any validity since they refer to PCGS as pcs, which suggests to me those people are amateur to collecting.

 

Thank you for the info.. The only reason I posted the link the comment I read below dated april 2012 of 17th.
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Comments (11)
help with sueing anacs for theft of coins and switching coins.
11 Tuesday, 17 April 2012 14:39
george pollog
i need some advice and assistance for the theft of ddo/ddr coins sent to them to grade Feb 25 I got these back today 16 April 2012, two were switched out they were perfect DDO and DDR reverse both-sides perfectly doubled, BETTER THEN MOST DOUBLE DIES I HAVE SOLD, and replaced with regular quarters from circulation. i paid a premium for special grading for error and foreign they just stole them !!got simply robbed by ANACS. HELP PLEASE.

Read more: http://www.cointalk.com/t204652-22/#ixzz1tes6uxYf

 

ANACS has done a yeoman's job of grading all types of coins; they were grading details coins way before the others started getting into that (cash incentive?).

A fellow at a recent show sent in 30-40 coins to ANACS, almost all of them came back in "details" holders. So they do a good job considering they are generally not getting the quality coins that NGC and PCGS are getting in their submissions. I would have an inferiority complex if I were a grader there because of the attitude that they are second tier and can never rise above that no matter how hard they try. But they do know their stuff, they know their varieties, they call a spade a spade when they see problem coins or fakes they are open and honest about it.

If I were grading low-end coins and then finally some nice coins with real value came through I would get excited and be tempted to over-grade by comparison. So I don't really blame them for some optimistically graded coins.

 

The grader IS the company, the company doesn't dictate to him. Your post implies the grader is manipulated, in which case, he isn't grading. And if he isn't grading, what's the point of having him on the payroll?

 

Sorry, but they grade to the company standards, not their own standards. Elsewise, there would be a different standard for each grader.

 

Remember that grading isn't the opinion of one person in a TPGs--it is the consensus or average of THREE people, and that can be somewhat subjective. There are lots of experts here, and notice that not all of them agree on grade. So, imagine looking at hundreds and hundreds of coins all day long, and think of the chore.

 

I would say to carry out the directives of the company. If a firm wishes to bump up key dates, or overlook cleaning, they let the graders know that and expect the graders to grade accordingly.

If a production line tells you to turn the screw to the right, no matter how much you want to turn that bugger to the left, you keep turning it to the right to collect your paycheck.

 

Yes, and there is a larger point, that of grading psychology that I have heard expert submitters confess to. In submissions there is "guilt by association" as well as "high quality by association" for lack of better terms. The sequence the coins are graded makes an argument in the graders mind as to what a coin should grade. Let's say you have a bunch of "liner" coins just on the edge from being the next grade up. There is a way to do the submission as to get the best *chance* at the best result. Coins are like snowflakes, no two identical. So graders are constantly making tough market judgments as to what the right market grade should be. They are not reaching for absolute standards, but market acceptable standards. If PCGS and NGC (and ANACS) would get 2X as many submissions and an equal number of express and walkthrough submissions if they could give higher grades and make 2X more money, don't you think they would do that?

But they can't get away with it because if you water down the standards too much the consumer would catch on, even if many of them are far-sighted elderly folks who can hardly tell the difference between a Saint and a Lib., let alone an MS65 from an MS66.

 

There has always been talk of preferential grading for large dealers and prestigious collectors. Do I think that Jack Lee was the beneficiary of his reputation and fame? Perhaps--that one is almost impossible to determine. Graders are allegedly looking at coins "blind from the submitter." However, it would not take much for some of the graders to be told which coins to look for, and which ones to give the double white glove treatment. Yes, subjectivity enters this realm, but would a grading service compromise its reputation based on subjectivity and lack of consistency?

ANACS has served its purpose, and for its market segment, has done a good job. Is it on the same level as NGC and PCGS? Doubt that anybody would imply, suggest, or even state that. However, I have owned many ANACS coins in the past and they have both "bought" and "sold" well. They are also a venue for deserving coins to make their way into slabs, despite problems--attractive or rare coins that are not pretty, or that have been messed with, but have historical and numismatic importance. So, that is my two cents.

 

Exactly why it's still a very subjective process, no matter what the company standards may be.

 

"There has always been talk of preferential grading for large dealers and prestigious collectors."


And they tend to submit nicer coins. The graders don't have to be told anything, they could tell by inference when they see two dozen coins in a row that look like they just came out of a European bank bag. The graders are dealing with hundreds if not thousands of coins on any given day, they are having their skills sharpened constantly by quality and substandard material. Remember, they are working in dark rooms (no scattered light) with halogen and other quality, see everything, optical options. It is why even top dealers get surprised with no grades/detail graded coins.

​

 

Grading as a whole is subjective, no somewhat about it.

It wouldn't matter if a TPG uses 3 graders, or 15 graders, it's nothing more than a subjective process, which is based on opinion only and can not be accepted as anything more than opinion, which is paid for, and will vary from one person, and service, to the next.