Should you Trust NumisTrust? NTC Coin Grading

I really don't care if you bought a coin from Amanda. I also do not own any stock from NTC. The only stock I own is from companies that I own. I thank you for looking at my site and you're welcome to check it out again as you please.

 

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I never thought that there were so many drama queens on CoinTalk geez. The Moderators made a final decision on Amanda's thread vic let's leave it at that. I have nothing against Amanda nor anyone else here on CoinTalk. With that said I'd appreciate it if everyone could just move on.

Back to the topic. I think we basically concluded that while the numistrust corporation has been bought out in 2013 they still tend to overgrade coins as seen with these Morgan examples. Due to the reputation of the old NTC the new NTC may very well never earn a seat at the table.

Is there anyone who does not agree?

 

Lol yeah they did. I believe this message was meant for you among others to hear.

"The mods, and only the mods, decide what breaks the rules and what doesn't. GDJMSP"

I love how you pump up this company, one that can't afford to hire anyone else (I can only assume this meant you) yet they are going to do great and then one page later you are ready to throw them away.
At least your consistent.

 

first off yes I agree that @GDJMSP post was meant for me and a few others to read and I agree with him.
Next the owner of NTC told me that he won't be adding staff for some time when I asked him about expansion
If everything goes according to plan then yes NTC will do good (yet they are pretty optimistic which isn't a bad thing)
finally I was already leaning on cancelling the deal with NTC before I posted this. They still are a decent company and they are continously trying to improve which is good.

 

I just went to your site , not a bad site per say . But the pics leave a lot to be desired . Even if I was in the Market for a Morgan and a St. Gaudens . I wouldn't buy for the soul reason I really couldn't see the coins . Just some advice , get some better pics up . Good luck with your store .

 

Thanks for the feedback. I have a massive update in the works that should be done sometime next week.

 

I tried calling NTC several days ago with an inquiry and guess what? They never yet returned my telephone call, reminds me of the PCI of today. Same garbage. NTC sounds like a junk operation. I wouldn't use them yet. I am very open-minded to using third-tier graders if they're good and have their act together.

 

They are quite slow with communications.

 

You could start your own grading company

 

Lol. Please don't give this guy anymore ideas.

 

Josh, if you are trying to get going as a dealer stick to the accepted TPGs. As a new dealer you would never have the leverage to try to promote another slabbing service, everyone would simply view your coins as damaged merchandise, exactly the opposite what you wish to portray. There are reasons only one or two companies become standards, there needs to be critical mass to be successful.

As for the drama, I don't care for any of it. Amanda seems like a nice lady, and I have no idea what drama in another thread we are referring to, but I would just let it go. Mods here are fair, and I am sure they acted appropriately. We all have gotten our hands slapped here, almost all of the time rightly so. Let's talk about coins.

 

By now it should be clearly obvious that no new grading service really has a chance. Why, because they aren't PCGS or NGC. Doesn't matter how good they are, or how consistent they are, 90% of the marketplace has the knee jerk reaction PCGS and NGC good, everyone else BAD. Any slabbed coin from any service will always start out being viewed with a negative bias because "if there wasn't something wrong with it it would be in a PCGS or NGC slab. Since it isn't it must be overgraded or a problem coin". And even if they do look at the coin, and grudgingly agree it is properly graded, that still isn't good enough because then it will looked down upon because "it will be too hard to sell or I'll get less for it because it isn't in a PCGS or NGC slab". So they are condemned if they aren't up to the top two's standards, and the are condemned even if they ARE up to their standards. And if they try to combat this by going ultra-strict and undergrading the coins slightly they either get no submissions or all their good coins get cracked and upgraded at PCGS and NGC. It's a lose-lose-lose proposition.

 

Very interesting read. I completely agree with you. A third tier grading company in today's market is screwed either way.

 

I don't see anything wrong with their grades. They're not a serious threat to the big boys in the market because it takes good marketers for that, not good graders.

 

I do not think that its a question of "trust" as much as it is a question of "real" value.

Many years ago, I allowed myself to get sucked into bidding on a 1923-D Peace Dollar in an NTC MS65 Holder. The goal was to get it crossed to a PCGS MS65 Holder for my Peace Dollar Set.

Two submissions later it became apparent that there was no way in hell that the coin would make it into a PCGS MS65 holder as it ended up in a MS63 holder.

In short, I ended up paying $198.50 for a coin which I could only sell for $125 on a good day with a dumb buyer.

As a result, I suppose you could say that I don't "trust" NTC's assigned graded but I do "trust" that NTC will assign a grade to a coin.

 

Gotta agree. Why would anyone go to NTC? New or old they don't have a good rep yet and they don't even compare to the other 3 chingons.

 

The only reason that a dealer would ever use one if these fly by night TPG is to purposely deceive unknowing buyers. A shady dealer knows that can submit subpar coins to companies like NTC and get ridiculously high grades. They then sell these guys coins "at a discount" under grey sheet and uneducated people fall for it all the time. It ruins the hobby for the rest of us that are doing this the honest way.

The way that I see it, it's our duty to make sure that these TPG don't last long. Buy the coin and not the holder and you will be fine.

 

I do not want to have a reputation as a shady dealer. Rather my intent is to be fair and honest as I wish to be a PNG member someday. I'll stick to the top tier grading services. It's best to be safe than sorry.

 

I think it's all a question about making money. I'm convinced neither PCGS nor NGC are the best in the business. I will keep supporting the better underdogs so the major graders don't get increasingly corrupt or lazy because whenever monopolies occur you eventually get a worse quality product at a higher price. It's free market competition that keeps quality constantly improving and prices reasonable. If new companies wish to compete in the marketplace, let them slowly earn the respect and confidence of buyers. Let them succeed and better the marketplace for all.