I figured out SGS!

I recently bought the 1982 7 coin Lincoln Cent series from SGS, as well as from many other sellers, just because I thought it would be nice to have with the 100th anniversary of the Lincoln cent series coming up. I am fully aware of SGS's grading......grading.......style? I don't know how to describe it but I knew I wasn't going to receive MS-70 coins even though that's what I bought, and that's fine, it was only $14 for the 7 coin "slabbed" series. And, as expected, the coins are AU at best (some of the reverses have the usual wear on the TES of STATES and there are even BLACK SPOTS on the OBVERSE!!!) Anyway, I think I know what the problem is, actually there's one of two possibilities, in my opinion: 1) A blind person is grading the coin using the brail system, or, what I think is the actual issue, 2) Their scale of grading actually goes up to 100, therefore making their MS-70 coins a C- which makes more sense. I think I'll start my own grading company, anyone want in?

 

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SGS grading "standards" -

• MS70 - It's round and milled
• MS69 - Its a round casting
• MS68 - It's not MS70 or MS69

Adhering to their own standards, they are undoubtedly the most consistent TPG around.

 

An interesting experiment Davedawg and quite fearless of you. However, you KNEW what you were getting into

The whole SGS goal is to intentionally sell grossly overgraded coins to those that DO NOT KNOW any better. These are generally people that are new to collecting and have recently discovered the initials MS.

Noting that you were able to put your MS70 coins at AU and state why I'll ask this. If you started a grading company what guidelines would you follow?
Somehow feel you're not the type to stoop to SGS levels.

clembo

 

sgs...

i just hope your experiment wasn't expensive.

 

My theory is that SGS bought all the MS-70 stickers that no one else bought when the sticker company had a sale.......

The real question with SGS is, does gold foil send subliminal messages like " great coin" " sweet" " primo"......sorta like the busy carpet in LasVegas that says " stay here" "spend more money" " dont leave"......

 

That is as good an explanation as I have seen.

 

Capped.....I am laughing so hard I'm crying right now !!!! Love the new Avatar !!

 

With the massive increase in coin colllecting lately there are many, many items appearing on the sceen such as the complete set of 1982 Lincolns, all 3 Mints from the 1943 Cents, One each of the War Dated Nickels, and on and on and on. Individuals, organizations, so called grading and coin companies are coming up with these more and more. Usually come in a small plastic thing that appears to have been made just for that purpose. Same with special folder for the State Quarters, Baby sized dollars, commemoratives and so on. Even a constant new grading service and tons of new books. This coin boom is sort of like watching all the how to become rich things on TV not long ago with hwo to buy properties with no money down.
At the last coin show I was at there was guy with about 3 tables full of coin books, 2x2's, boxes for 2x2's, binders, folders, albums and many other things for coin collecting but no coins. I was amazed at the books. There were books on just about evey type of coin ever minted and the were big and expensive and all were selling.
So what is next? Coin hood ornaments on cars? Coin Martini sticks for the Olives?

 

I have it from a reputable source.....coin hot sauce is coming..............

 

Beanie Coins!! Get your Beanie Morgan Dollar and Beanie Flying Eagle Cent before they all sell out!!

 

So you paid $2 each for cents in au condition that you can still pull from rolls??? How much do those coin world holders sell for empty?

 

AHHH that is the rub. The coins are not really to expensive but those plastic holders are special made of high impact plastics. Worth lots and lots of money. Made that way due to people getting mad and throwing them against a wall.

 

I agree, 70/100.
or perhaps even 70/80 or whatever, makes much more sense

 

And the high strength gold foil keeps the halves together on impact.

 

davedawg...please let me know when you start your grading service as i am hoping to follow it by setting up a firm to certify coins offered by sgs and some of the others. i plan on putting a sticker on the ones that are exceptional for the grade. now who wouldn't want a ms70 coin that is exceptional for the grade??? we are talking true premium coinage here!!

 

Alright, my new coin grading service is called DDDKHTFGC. Translated, it stands for DaveDawg Doesn't Know How To F'n Grade Coins. Send me your coins, whether found in the gutter (heads up of course) or buried in your sofa with Cheetos residue on them and I'll start grading at MS-67. If there's a lot of Cheeto residue, it may be graded as "Gold Plated" MS-70. I'm also going to buy a coin rolling machine and sell OBW rolls as well as scores of lots "unsearched by me because I don't have the time to search through all those coins". After a year or so of this, I may go public. Anyway, in all seriousness, I knew what I was buying, I know SGS is garbage, I only buy from ANACS (now NGC), and PCGS. The only problem is that they don't sell the 7 coin 1982 Lincoln set series as one lot. My problem is that I can't always tell the difference between the copper and the zinc coins and I don't have the patience for the popsicle stick balance test. I got the coins I wanted, paid $15, no big deal, and they are at least XF-AU. Sure, I search a $25 box of cents a week, but I am more focused on looking for the big dogs ('72 DDO I or II, '80 DDO, '83 DDR. 84 DDO, '92 Close AM, '94 DDO, '95 DDO, '97 DDR, '98-00 Wide AM, and 2006 DDO. There are some other ones in there like the '88 variety FG but my magnification isn't that great. So, anyway, I posted the original post as comic relief since we all know about SGS. So don't get all technical about the price of plastic holders or the cost/benefit analysis of my transaction, I was just having fun and thought I'd share with the group. Like I said, if there's a coin I really want, I only buy from NGC or PCGS. By the way, CoinWorld magazine has issued a warning about counterfit NGC coins. Not only are the slabs fake but so are the coins. For more info, check out their website, it describes how to tell the difference, FYI.

 

Just to clarify: ANACS is still ANACS but with ICG's staff. NGC is still the same ol' NGC.

 

You're right, my mistake, thanks for the correction.

 

I predict SGS will have the first MS-71 coin :rolling: