Ebay Throws ANACS Under the Bus

But doesn't PCGS have an advertising deal with ebay?

 

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The Coin News item sheds new light on this. Maybe the key reason ANACS failed is because they don't have online cert lookup. Maybe this will be a kick in the a$$ for them to bring their website into the 21st Century.

 

Yes, you are probably correct. Hopefully we will see soon in their new selling policy.

 

I don't understand this Lance - why would they value drop? I mean you could not sell them on ebay if they are $2500 or more, but why would the value drop? I mean the coin should speak for itself, but then again I thought you crossed everything to PCGS. I am just curious why you think coin values would go down for ANAC's or ICG coins. I mean if I like the coin I will bid the same no matter the holder, but I skip more ANACs than PCGS and NGC auctions. The only negative I see is some of the specialty dealers will not be able list raw problem free chain cents.

 

This makes sense.

 

As eBay's image improves, especially on trustworthiness, they will become more competitive with Heritage, Teletrade and other auction houses. This will re-strenghten their market share. Even more so with those who feared buying fakes, over graded and non returnable/non guaranteed items. I see this as positive step for them and the public in large. I also see ANACS as qualifying one day as a TPG with them. Maybe scoring high enough to become CAC stickered as well.

 

CAC stickering is a whole another topic. But with HA and TT, usually the bidders are other dealers, who won't get into petty bidding wars, plus the coins are typically nicer. With Ebay, some sellers just flat out charge ridiculous prices, juice their photos, and bidding wars gets more out of control. All of this is just my opinion though.

 

Well IMHO Ebay is becoming this way. Its sad when I go to regular dealers to get a coin at half the price Ebay sellers are wanting nowadays. I know Ebay is trying to become more of a marketplace than an auction site, but looking at marketplace prices is convincing me Ebay must be an expensive place to do business. I wouldn't want to be an Ebay shareholder if they seriously believe that they will survive with such high prices.

Sure I still buy there, but I have a lot of dealers I follow and simply snipe on their auctions. Nowadays I lose 99% of any snipes, but don't sweat it since otherwise I would be overpaying.

 

Not an expert but something smells fishy ??????????????????????

 

Well, the ANACS can still be sold on ebay with the other second tier companies, but you will have to look at the item being sold more closely plus you will have the advantage over buying a raw coin. No biggie for coins under $500. I still look for ANACS coins, but they are not as strict for sure on all, but do undergrade occasionally.

Also, it will means that Teletrade, GC and HA will be getting a lot more ANACS coins than in the past, ebay shoots itself in the foot once again; I have never bought a coin there yet.

 

I think that Ebay is trying to take two steps foward to compete with HA, TT, SB, etc...but with this motion they took one step back. Yes there are some benefits to this, but to constitute disregard for numerical grades of ALL icg, anacs, etc. slabs is not a wise move. Some old anacs slabs hold very nice coins, as well as ICG...But refuetting the whole company in one secular motion is not the right answer.

 

If you look at http://www.anacs.com/, they say that they were just made aware of these standards ebay set today and that they feel they meet all the standards, minus one. They say they will be able to fix the issue and have this resolved by May 30th. So we shall see.

-Cheeks

 

I do not own any slabbed coins yet so I'm not going to voice an opinion on that. As a consumer who gets about 90% of his coins on ebay, I am very happy to see that they are trying to improve and provide a more reputable service. I am sure that counterfeiters will still be around but it's good to see that ebay is trying to improve in this area although I'm wondering if they are just giving us a PR bit or if they're genuinely trying to improve.

 

The ANACS numbering system leave something to be desired IMO, just a number. NGC has invoice number and PCGS has a coin number followed by a grade then a coin number, very classy IMO and I had some contact with the brains behind that orderly system.

Good holders and good numbering systems are not copyrighted or patented, are they?

 

Do not need to worry about numerical number on this one. Certified & Graded as Mint by the Inventor of slabbing coin & cards at Baltimore Coin Show in Maryland, March 2000. Anyway most of wealthy collectors they look on the history of such great coin and they always go with the coin not the plastic holder.

Not an expert but something smells fishy ? YES it is smell Bad fish! STINK! -

 

And it was being handled with cloth gloves, because?

 

I strenuously disagree with the last statement in this paragraph.

ANACS has NOT lossened their grading standards since the switch and if you'd have submitted coins to them recently you would certainly know this.

They are just as tough if not tougher than PCGS with regard to graded.

And for the folks who are about to respond with all the MS/PR70's that are hawked on the TV shows, both PCGS and NGC hand out MS/PR70's like candy to bulk submitters so this is not even a discussable point.

From my observation, the old, small ANACS slabs and the ANACS Slabs with the Blue Labels can be questionable. The recent ANACS Gold Slab grades are solid.

Please guess the grade that the IKE Below received from a 2009 PCGS Submission:



Until you actually submit to the new ANACS, you should be careful about stating that they "greatly reduced their grading standards".

 

There is no common ownership of ANACS and HSN. But the owners of Heritage own about 25% of NGC.

 

Ever since ANACS switched from the small white holders... it's been downhill. I considered the OLD ANACS small holders to be on par for the most part with NGC and PCGS.

I have submitted coins either for myself or for customers to NGC, PCGS, and ANACS this year. I find that typically ANACS lets more problem coins slide... and is usually at least a point or 2 high most of the time on mint state coins. They are by no means tougher or as tough as PCGS... no way no how.

 

http://en.wikipedia.org/wiki/Coin_grading

I have read that the action mentioned above invalidated the exclusivity of a "slab", but several recent changes in PCGS and NGC "Slabs" such as sealing methods, coding, etc. has probably been reserved by appropriate legal action.