It looks VG to me. I wouldn't be surprised if it was under graded on purpose. Put a bunch of cheap coins in an under graded slabs is one way to try to make your company look good. Give them out or samples or have a dealer sell them at a major show for a really low price. The nickel isn't worth much but, if they sell them based on the grade on the slab collectors think they got a bargain and may start to think IGS coins are the ones to buy. I don't think it worked out to well. Is IGS still in business?
The coin has a bit more horn than you usually expect on a G4, but I think they got the grade right. Just my opinion, of course.
Hey, they're pouring all their resources into improving their processes, not WASTING them on frivolous nice-to-haves like, um, people to double-check work they present to the public.
IGS coins are treated as raw. PCI is a little better. But again, they are treated as raw. Being treated as raw isn't bad if grade of the coin matches the holder. I've seen coins in PCGS & NGC slabs improperly graded or improperly labeled. Bottom line you need to understand grading if not then stick to PCGS, NGC or ANACS. Then there is less of a chance of getting burned.
There are collectors of low ball coins...I had a IHC that was in an old Anacs soap bar I couldn't believe it. The fee even back in that time period was higher than the value of the beat IHC.
What was the members name a few years ago that was starting his own grading company because you guys couldn't grade coins?