Another over grading slabber? NAC.

Yeah, I agreed with the grade, if they used a scale of up to MS-35,000.

 

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I wouldnt even call it MS62. I dont care about hair detail if its that scratched up. its MS60 at very best.

 

$511 bucks for that garbage. Man must be nice to have that kind of money to throw away.

 

That poses a query:

Say I bought the coin for the price, hoping to flip the coin for a profit. The holder says MS66, and the Value Book price is 100 times that. So I submit it to PCGS or the other TPG's to get a regrade. Turns out the coin is much lower in grade (i'll pick the AU grade someone posted), and in turn, price.

Wouldn't I be able to ask for my money back, or bring about fraud/lost profit charges against the seller?

 

Good question.

Let me put my peoples court hat on.

Would this be considered an "as is" sale? If so, you could probably get your money back, but I don't think that you would be able to get more than that. In "as is" sales, you can only be made whole. If this guy slabs his own coins as others have said in this thread, then this is his opinion on what he thinks the coin grades as.

The coin is obviously not MS-66, but I don't believe that there is proven fraud. He could argue in court that he actually thinks that the coin is MS66 in his opinion.

This is not a recognized grading service, and probably has no guarantee of the grade listed. Besides, I doubt that either ngc or pcgs will grade this coin. Anacs might.

 

Well, normally if you remove a coin from the sellers original holder you void any return prviledge. PCGS won't accept the NAC slab for crossover so it will have to be cracked out. Bye bye return priviledge.

 

SGS MS-70

But probably MS-62 lightly cleaned ANAC

 

Ok, I am very new to coin collecting and you guys are starting to scare me. I just payed $80 for a 1880 Morgan that was rated MS66 by NAC and said that it was uncirculated. I saw your post when researching them (NAC) and decided to join CT so that I can get a better understanding of this whole process. I would appreciate any feedback.

 

I guess iam to late, The listing has already been removed!!

 

Yep! 2 years ago.

 

Welcome to CT!

Feedback - stay away from SGS, NAC, NNC, GEC, ANI, PGS, INB, UGS, PCC, IGS, NANC, etc. Stay with PCGS and NGC. You will avoid a whole series of problems.

 

If you want to buy slabbed coins stick with PCGS, NGC or ANACS. Research is your best friend if you are new to the hobby.

 

First the bad news. You most likely got ripped on your 1880 purchase.

I work in a coin shop and we actually have a few of their coins in our case. Don't know where the boss got them but guess what? They're graded MS66 and no where near it. They're priced at $30 and that's too much.
I use them to show people the difference in grading companies actually. I'll show them a PCGS, an NGC and an ANACS compared to an NAC. Teaches folks a lot in a hurry.

Now the good news. RLM'S Cents and Mr Merc have given good advice.

Now the REALLY good news. You found Coin Talk before you made a bunch of mistakes. Don't be freaked out. You did some research and people are here to help.
Your decisions will only get better and you'll enjoy the best hobby on the planet.

 

New guy here,

I was able to pick up a couple of the NAC $2.50 Indian Head coin (MS66) at around $220 or so. I’m planning on passing them on down to my niece and nephew. I knew that MS66 was bull ($32,000+ per PCGS) but liked the coins and figured that the kids could enjoy their uncles joke in 15 to 20 years. Thought it was better than buying un-slabbed off ebay for the same price…….. right or wrong?

Old enough to remember when we made rings out of .50 pieces (using a spoon) and charged $15 for the ring and still have sack of Mercury Head dime that were cut out to make earrings or pendent. Makes me cry now.

 

Welcome to the forum. Now - wrong, are you positive they are real? I would not be surprised if some of these self-slabbers actually slabbed a counterfeit coin.

 

Thank, I think. Been traveling... never thought of that. Guess the best thing to do is bust it apart, get out the scale and acid.

 

The best thing you can do as a new collector is taking a correspondence grading course from a major numismatic organization and get yourself grading books like Photograde and the PCGS guide to grading.
Grading takes a long time to master, it takes looking at thousands of coins over a long time.
Grading is a professional opinion and is only as good as the reputation of the organization rendering it.
In the end, even the best services make mistakes, but the big four make the fewest compared to the self slabbers using airtites and capital holders with self generated labels.
I stick with PCGS, NGC/NCS, ANACS, and ICG.
I stay away from SEGS, Accugrade, and PCI.
That's just my personal preference based on seeing thousands of coins in their holders.
But in the end, you have to decide for yourself, educate yourself with the above referenced books and take a course.

 

I could of given my opinion but this thread is ancient and the item is long gone!....LOL

 

The thread may be ancient but the subject matter is eternally relevent.

 

Can I get a coin graded by PCGS if it is already slabbed by NAC?