Can we trust current slab coins?.

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I'm not sure exact numbers but by LOT I'd assume 40,000-75,000 a year... knowing the company.

 

Newby ripped off

Hi,new to the site/forum,and new to coin collecting.
I initially wanted to purchase some silver eagles for an investment
in case the price of silver rose dramatically,well all my purchases have been on ebay,and I have bought some great coins for varying prices
some pcgs "slabbed" which I thought looked nice,mostly graded ms 69
then i saw a NES graded as ms 70..wow .had to have it..paid a crazy price...it arrived with the slab opened on one corner,and I can easiely
open it with my fingernails...I know I was burned...but I am learning.
is there a way to check out the certification # on the slab? I know it wont do any good,but I would like to see what coin it comes back to? Oh I
am sure someone stuck some any ol' coin in the slab,and called it a ms 70
but live and learn huh? we were all new once!!! thank's

 

Sadly, many groups are know "slabbing" coins just to sell them for more money. These are self slabbers who are corrupt and a black mark on this hobby. I have never heard of NES (other than the video game system) and thus assume they are one of those. As a general rule, the only slabs worth buying are PCGS, NGC and ANACS...but PCGS and NGC are by far the best. All the others are worthless for the most part.

 

hi, i have about 5-6 slabbed silver eagle coins, how do i determine that these coins did pass ICG and not slabbed fakes from China?

 

Good advice. Stick with the top companies.

 

I'm all for more competition in this area. That said, IMHO, you guys are making too much of these slabs, they're all overrated. I can pick anybody off the street that can add two and two together and teach them how to do these jobs, inside a week. It's hard to learn how to grade like the major TPGs do? It's harder to learn how to work at McDonald's.

 

I figured not everybody would agree. IMHO, they're realtors, but appraising coins...

EDIT: I've got a few more minutes before I have to go, so I think I'll just elaborate, here, just a little. It's not rocket science, IMHO. The major TPGs just have everybody groomed into believing it is. Credit their marketing. But when you get into the MS grades, grading is just a matter of knowing the market. You showed us, yourself, in another thread, you're at least cognizant of the difference between the way the major TPGs grade, and the way ANA says to grade...that being, grades and grading standards are influenced and determined by the market, and are everything but immutable, as the major TPGs would otherwise have us believe. ANA is talking MS coins, principally, wherein the only relevant grading considerations are balancing the contact marks as against the luster, balancing all that as against the toning (and, a few other such vague criteria, such as where the contact marks may appear on the coin...as well as, at least the way some have been known to be doing it, the strike, as well as the pedigree), then rating all that as against what the market is telling us, through the auctions, principally, are "eye appealing," by present-day standards. A thirteen-year-old can learn to do that, provided he or she had nothing better to do than look at coins all day long, and didn't have a real job, like at McDonald's, to interfere with that. Well, maybe I did exaggerate, there, just a little. Make that, a real job, like mowing lawns, or shoveling snow. I believe McDonald's requires their employees to be at least sixteen, to handle that job.

 

Although fake ICG shells were produced back in 2002, we were able to stop the firm using the shells from continuing to do so and no fake ICG slabs have been seen to date. (The firm with the fake ICG shells was using them for their own product and not for fake ICG products.)

 

Eddie, I think you are completely wrong. It is not easy to learn how to grade like a TPG and nobody could go from no knowledge to that skill level in a week. Just not possible.

 

I can train monkeys to do these jobs inside a week and they don't even have to know how to add two and two together!

PS: I hear you, really do, but I do think these "skills" are way overrated...

 

Well then, if you can train them then do it and form your own TPG. Those companies make a ton of money so if you are so talented you could make a fortune and create more competition.

 

do you just not read what people post?

alot of the MS69's and 70's ASE's your seeing are suppose to be that way with the advancement of technology...

how many ms 69's or 70's do you see for coins meant for circulation? it hasn't exactly jumped in population 100X

I'm not saying buy slabbed coins I'm just saying they at least give you an idea of what the coin is and help you to stay away from doctored coins and if it turns out to not be authentic at least you got the security guarentee from the top 2 slabbers

are they perfect? probably not for the simple fact that people are doing the grading and people are NOT perfect

this thread is kinda silly I say if you don't like slabs then don't buy them but trying to push your opinions ON TO OTHERS without all othe information and only going off a tidbit of the whole picture is laughable

 

Thanks for the vote of confidence, but I already have a good job. And I do think, at the other extreme, you're giving their "skills" way too much credit...

 

my coin inventory:
slabbed coin - zero
u.s.mint original with complete box and c.o.a. - 99.5%
from dealers - 0.01%
from free collection - 0.49%

 

I think the people who work for the TPGs know what they are doing and are skilled graders (by that I mean PCGS and NGC). However, grading is subjective and thus nobody will ever 100% agree with a grade...but they do a pretty good job. I think most people here would be very hard pressed to consistently do a better job.

 

Obviously not.

 

If grading were so easy, why when you hand a raw coin to three collectors do you get three different grades?