Saw some coins "slabed" by NNC and actually looked at their home page: Finally a coin grading company whose products and services meet the demands of both buyers and sellers. NNC is an independent third-party coin grading service which does not buy or sell coins, nor does NNC appraise coins in terms of monetary value. National Numismatic Certification, LLC. cannot guarantee the liquidity of any coin graded by NNC. NNC certification of a particular coin cannot provide protection from the risks inherent in any market for such coins, if such a market exists. NNC Coin Grading - National Numismatic Certification, LLC. Wow, they guarantee nothing except to put your coin in a slick looking slab and only charge you $10 per coin...don't everyone fight getting in line.
The proof is in the pudding - as they say. Have you looked at how they grade compared to the larger establishments? There isn't any rule that says they can't be as good - or better. I would question clean room setup for slabbing and such - but there is the possibility for a new player to emerge some day. I'm not saying it's NNC, but you gotta start somewhere. I've had a few nice scores from "basement slabbers" in the past. It's definitely a case of buying the coin and not the holder. I bought an 1888-S for $110 that was in someone's old MS63 slab, cracked it out and it came back from ANACS as a legit MS63. Now, I have a few that claim to be 66 and 67 slabs, and I know they're not. They were nice coins though - and I paid fairly for them (and promptly cracked them out!). It would be nice to see more competition and uniform grading across the industry. ICG is making a comeback (so I hear) and ANACS is doing very well.
On their website - { "PLEASE NOTE: We are no longer accepting submissions from Singapore due to the large number of counterfeit coins coming from there." } Kinda sounds like counterfeits were getting through their grading process.
What gives me a bad feeling about them is the number of slabs I see that say something like "Widow's Mite Sized Coin"...kind of like a scam for people who don't read or comprehend.
Just wander over to Google and search for "NNG coin grading reviews." After that, you are invited to run with me in the other direction.
A member on another forum posted a bunch of Lincolns in NNC slabs. Out of the 15 or so posted, there was 2-3 that actually had what I felt was the correct grade and I would actually own. I was surprised! The others were off by 1 or more points or should have been in a details bodybag. The most misleading ones were those in MS-68/69 slabs....I think I graded those at 63-65. As we all say...BUY THE COIN! The unfortunate side of NNC is that novices have no idea they are NOT a legitimate grading service and end-up falling victim to the scam that is NNC.
Strong reason to concentrate on PCGS and NGC slabs unless someone is confident of his ability to grade -- and detect fakery and cleaning.
I've seen a few ancients on eBay in their slabs and at least 2 or 3 outright obvious fakes(based on style or obvious casting signs). On top of that, quite a few of their moderns look severely overgraded or cleaned. I wouldn't ever buy a coin in one of their slabs.
Although I've actually heard of people submitting coins to NNC, it's still just the ego vehicle for one sleazy Ebay seller.
Historically some smaller TPGs have done reputable grading, at least on some series, so they are worth looking at, but NNC is not one of them.
Have you ever considered the cost to become a "new player?" The dies alone to seal the slabs cost $$,000 each, add the machinery, inserts for all types of coins, labels, computer programs, etc. Better to buy a company in operation like the old Hallmark that was sold to ? MS ? who sold it to ? LR ? where it became the original PCI until it was sold again.
I don't doubt that. Not everyone besides the big two and the next two have had the only honest eyes around. But in the wake of all the basement graders and their meaningless acronyms, has the value of their grading been demolished price wise?
For the most part, I think so. They tend to be treated as raw coins by those in the know. I've gotten some great undergraded finds in PCI and ICCS holders, but both are better regarded than basement slabbers. As always buy the coin, not the slab; that someone thought enough of a coin to slab it though makes it worth taking a close look over a raw example.
