ICG regrade submissions

Question? I have mostly read here in CT (and I disagree) that ICG is a terrible grading company, they do not belong in the same category as ANACS, NGC, or PCGS, don't buy their slabs because they are worth less than the other three, on and on...

Can we first agree on that?

So I have a few questions:

1. Is the price NCG values an MS-70 2002 Eagle something to base an IGC coin on? From what I read above, the OP "got the coin cheap."

2. If PCGS has a similar "price guide" are the prices the same for that piece or close? I thought PCGS slabs bring more money than NGC's. Price guides are just guides.

3. Would a better indicator be the price these coins a going for at auction - say Ebay?

4. If a person buys a $50 MS-70 (that is really a 69) of any date for $3000 when gold is at one price and then wants to have it replaced AFTER GOLD DROPS and the MS70's are only worth $1500; should he return it to the TPGS?

Perhaps the seller was dumping the OP's coin because of the bag mark OR as most point out, an ICG coin is worth less money.

In my experience, the only bullion coins that are worth any "real" premium are the 70's and perhaps a few dates in 69. Guess we all should remember that there are no gifts in this business...unless you know more than the other guy

I suggest the OP hold the coin (we all know gold is going up a ton soon due to global & US crisis) and save it for the day that no one cares what the lump of gold is or how it grades - because it will be just gold when there is blood in the streets...just saying & hope I'm wrong - this time

 

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I have the same problem. I just got in a bunch of Slans of silver eagles graded by PCGS first strike MS 70 and I don't agree with the grade. Some nicks on the coin but I will Not return or re submit them. I just think the world of Slabs quality has gone downhill

 

ICG and ANACS are both second tier. They are not on the same level as PCGS and NGC. To address your questions:

1. The NGC price guide is primarily for top-tier graded coins (PCGS or NGC). Any others, or raw, will trade at different values. They try to update the values based on auction results and private sales that they are made aware of. You can submit verified purchases to them, for incorporation into their data. However, as with any price guide, maintaining it is difficult and laborious. The prices are often somewhat out of touch with reality. NGC is better at keeping up to date than others, however.

2. PCGS price guide explicitly states that it is for PCGS graded coins only. There is a common perception that PCGS slabs trade for higher premiums - while this may be true for certain series, or certain grades, it is nowhere near universally true. Modern, registry-type ultra-high grade coins often have the biggest disparity. In my experience, the PCGS price guide is often significantly off on its value listings.

3. Auction results will always give you the most accurate pricing data. While I would prefer a reputable auction company (Heritage, Stacks, etc.), Ebay can still give you good data. However, you have to compare apples and apples - if you have an ICG coin, you have to look at ICG sales.

4. If you make a successful claim on a grade guarantee, the TPG will pay you *current* fair market value. This is based on what the coin is worth today - not what you may have paid for it under different market conditions.

 

Interesting...would you sell an ICG 70 for a premium?

Would you sell an ANACS 70 for a premium?

What about an NGC or PGCS 70? Any premium?

As Far as I know...Many dealers will not BUY a TPGS bullion coin at much (if any) premium...and I don't have a problem with that...They are dealers

 

Wow Burton! Great research. I think many of us just learned something. I think I read that the guarantee ONLY applies to the original submitter!

Does anyone know if the other TPGS put this wording on their forms.

If so, it appears that there is actually NO Guarantee down the line. Can they do that? I thought the guarantee stayed with the coin.

I AGREE 100% With the volume of SE going through the TPGS, I'll guarantee that no one grading these coins is even using a magnifying glass! BUYER BEWARE. I cannot tell you the number of times I thought an SE was a 70 and than saw a tiny mark.

I will not purchase one at a coin show anymore due to the lighting. My advice, sit down, take your time looking, use a set pattern to examine the coin so you don't miss anything as I have done IN THE PAST but never again.

For anyone interested: using just my eys, I look at the obv first, then the reverse WHILE slowly tipping and rotating the coin in the light. Next I repeat that using magnification. I look at the fields first, then each letter, then the relief design - then do the same on the other side. I want no spots, hairlines, or dings. Note: I'll even pass on a coin with Mint-made defects that are "allowed" on a 70!

True 70's are out there all over the place if you look at enough coins. IMO, they should be sold at a premium no matter what TPGS slab they are in.