Opinions about SGS

lol

 

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First off, their not legit. They grade crap coins, meaning they are cleaned, problem coins. Probably even slab counterfiet coin coins. They are a joke and ebay has only kept them going.

 

They are self slabbers. What they are doing is taking pocket change and putting them in a plastic holder, printing a high grade on them, selling them as if they are certified. They're own website says their grades aren't guaranteed. Anyone who didn't have a moral code could do that. They are trying to make it seem like they are a dealer who sells slabbed coins. Problem is, the slabbing is a sales front that they use.

 

That's an example of talking out of both sides of one's mouth if I ever saw it. (SGS that is. Not Viper.)

 

In case anyone was wondering, here is alink to the official SGS website.
http://www.stargrading.org/

 

Also in case you missed it, here is some fine print taken directly from their website:
"Coin grading is not always consistent and, objective grading of coins is always attempted by SGS, but we can not guarantee that all risk associated with rare coin grading is eliminated. All coin grading will be done to Star Grading Service Standards."

In other words, "we can grade poorly and get away with it because grading is subjective".

 

You seem to have answered your own question.

 

it wasn't a question.

 

I am trying to find the link to the post/article etc but I swore that I read recently about someone buying a key date coin in one of these fugazy slabs (IIRC it was a 1916-D Mercury Dime) that turned out to be the back of a random D-Mint dime glued to the face of a 1916-P dime.

 

Not to belabor the issue but that sure looks like a question to me.

 

A redeeming quality about SGS. Actually there is one to other dealers.

They pay promptly (Abon Coins that is). If they are looking for a particular type of coin they will pay for it in a prompt manner and I've not seen them return anything.

Example. Some months ago they needed a lot of Silver Eagles. Well, at that time we had a lot and they were paying better than anyone else. We shipped them several hundred. Some were dogs believe me as I pulled them out.
Told the boss not to worry as they would just dip and slab high grade. NONE came back and the check was there pronto.

As for grading it's really a no brainer. I have seen enough of their stuff on the net and actually saw a slab at the Long Beach show.
It was in a bargain bin and it was over graded by at least 5 points. A Franklin half at PR68 I believe. I would have been willing to pay melt for it.

 

Now that's what I call profitable.

 

In other words they will take your junk and grade it 10 points higher and sell to the less knowledgable , at least that's what I've seen .
rzage

 

...profitable, criminal, fraud...it's all the same thing. Right?

 

Plus you have no recourse when you discover your "certified" coin is fake. How worthless is that?

 

Yeah, it's not like they have enough faith in themselves to have a buy back policy.

 

It's like if my grandmothers were still alive and they knew I liked coins , Lets say I told them if they ever buy a coin to buy it certified I even tell them what tpgs to use , well they see this great shiny silver dollar on Ebay , they buy it , they paid a good dollar for it , thet're happy they have the perfect Christmas gift for me , they'll go to their graves thinking that because I wouldn't have the heart to tell them it was worth 1/10th of what they paid , but some scumbag still made a lot of money off of my grandmother , the sad thing is I'm sure things like that happen .
rzage

 

That's true. I know I get on collector's cases about being ripped off because they don't want to learn about the hobby...and I say that's their fault. What I really feel bad about is the people who care for the collectors and want to buy them gifts who get ripped off. Someone takes advantage of their spirit of giving because they are don't know. That just sickens me. If someone told me they wanted to buy me a coin as a gift I would tell them not to because I know that you have to be so careful.

 

I agree , better to let them get you a book on coins .
rzage