I hope this grading company is not still in business

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I agree

 

Oh no! I think they are still in business.... I found the SGS website! | Coin Talk

 

Yes, the coins are over graded. I have bought a few of these that have incredible tones.

 

They are indeed not. Their reputation for obviously over-grading, and the fact that they weren't even a third party grading company by definition (they sold the coins they assigned grades to), quickly led to them not being taken seriously by consumers. Any coin in an SGS slab should be treated as a raw coin, ignoring whatever grade they assigned to it and making your own judgment. SGS is definitely one of the most extreme examples of "buy the coin, not the holder."

eBay will not allow SGS graded coins to be sold as certified (you can still sell them, but you can't claim them to be certified or mention anywhere in the listing what grade they assigned to it. You're not even allowed to show the grade on the slab in pictures of the coin). SGS tried to claim there was nothing misleading about what they were doing, arguing that grading was subjective. But that doesn't change the fact that their grades were not up to the standard virtually everyone else was using, and that they were selling their own graded coins, which meant they couldn't honestly call themselves third-party graders as they had a direct financial interest in the grades they assigned. (Apparently you could send coins to them to be graded, but that doesn't change the fact that most SGS graded coins were being sold by the company that owned SGS.)

 

Not reputable!?! What?!? The gold stickers really fooled me

 

Good news! As I recall, they got shut down with extreme prejudice ten years or so ago.

 

Good riddance to bad rubbish as my mom would say

 

My friend picked it up along with a few others at an estate sale. I told him to send it to PCGS and have it restored and then graded and see what it comes back as. Would it be worth sending it in?

 

I look at all slabs but have never seen an SGS coin that was worth having graded.

 

Not a chance. Sending in that coin would cost more than it is worth.

 

For the most part I agree. There are always a few gems that have been cracked, well untaped, and sent for grading hoping for a modern top pop. I have yet to ever see a high dollar coin in one of these slabs, I don't think that I have ever found a $20 coin.

The OP's coin is not worth the fees.

 

The only thing rare in an SGS slab is a coin that they DIDN'T grade MS or PF 70. They do exist, but not many of them.