Anyone heard of NuGrade?

It seems I only post questions but this has been a very educational forum. Here is another one. There is an Ebay sale for slabbed coins at $5 a piece but they are NuGrade or NGS (I first thought NGC). I was wondering first has anyone heard on NGS and how can coins be slabbed and sold for $5 a piece. Here is the sale:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3917249089&sspagename=STRK:MEWA:IT&rd=1

Thanks, Watson

 

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There are many sub-par grading services in the coin market today. Many of these offer bulk grading for just a few dollars. The standards used by the majority of these firms do not meet the industry standards. As collectors learn more about numismatics, they come to realize this. There are currently four grading services that are accepted hobby-wide.
NGC
PCGS
Anacs
ICG

All others should be avoided until your grading skills are very good, along with your ability to detect counterfeits, and cleaning.

Another tidbit. A collector should be very weary of anyone selling coins certified by a low end grading service.

 

Thankyou ND (if I have been here long enough to call you that). Also are there books or other education that can be found on grading? I have the Photograde book and the ANA Grading standards books now but was wondering of other sources. Is there a way to grade a coin (for a new person like me) and then have an experienced person judge the accuracy of the grade?

Watson

 

There are so many books on the subject of grading, that I really would not know where to start. You have two very good grading books in the ANA and Photograde. PCGS also has a very good book, and it also touches on authenticating. I would suggest to you and all the members that you join the ANA. They have a library that can be used for the price of postage. Their library contains a mountain of knowledge in all areas of numismatics. If there is a coin club in your area, I would highly recommend joining. The ability to grade properly is based on time and effort. Anyone that is willing can learn this art.

 

Although the PCGS book may be useful for grading it should not be utilized for authenticating coins. It leaves out way too much information and in my professional opinion is going to result in inaccurate assesments of authenticity.

 

From my limited knowledge and experience it seems that NGC and PCGS are the grading services of choice.

I have looked at a lot of coins on ebay here recently and the Silver Amreican Eagles graded by either NGC or PCGS auction off at higher premiums. Also concerning MS70 there are fewer NGC/PCGS MS70 graded Eagles than any other service.

I am not saying that I am an expert in any way, just my humble opinion.

 

It's true.. Not all grading companies are created equal.. NGS might bear some watching though.. Unlike most of the other new "so-called grading" companies out there now that would grade a rusty lock-washer MS70 or a new flat-washer PR70 DCAM and pump um out by the thousands, I have yet to see any NGS graded coins at MS70, PR70, PR70 CAM or PR70 DCAM. Just some food for thought, Even the top dawgs PCGS and NGC had to build their reputation from scratch.

Happy Collecting!!!
Mintmark

 

But if you want MS70 coins, just look up SGS Coin Grading since 99.99% of their coins are MS70 or PR70!!

Imagine that!?! All of the "perfect" coins are ending up in Ohio, the key stone state. I guess I have to run to my local bank, get some rolls, plastic, gold tape, and slab them myself for the MS70 grade!

As ND stated...stay with NGC, PCGS, ANACS and ICG. All of the rest are pretty much worthless (he didn't say it, but that is how I feel).

 

If it's too good to be true, it isn't!

 

Hey, I'm still considering starting a grading service in my basement
Why not, so many others are doing it

Seriously, I think that one reason that you don't see the perfect grades with SGS is that they know that's what the knowledgeable collectors are looking for in a sub-par grading service. By only grading to 69, they may feel that they're able to make themselves appear more legitimate. But, how many SGS coins have you seen that grade below 68 or 69? Maybe you have seen some, but I don't remember seeing any. Just food for thought.

 

I just did a search on e-bay for sgs. Try it.http://search.ebay.com/SGS_Coins-US...eZ50QQsosortorderZ2QQsosortpropertyZ2QQsotrZ2

 

I looked through some of the now ending and high prices. What a shame that so many people fall for these less than market par coins.

Saw some older coins like a 1962 Washington in MS-70.

I guess it takes all kinds to make the world go round.

 

I looked into NuGrade a little bid deeper and found some interesting information.. There is a write up in the July 2004 NUMISMATIST www.money.org written by Barry Stuppler LM 924 about a grading company that has sued one of their former employees and 45 other people including some the top folks at the ANA.. Seems this employee helped spill the beans about some shady grading at this company ect.. That employee is the owner of NuGrade....

Mintmark

 

That grading service was a different one.

 

Saw some Lincolns from the 1930's with MS70 grades by SGS...imagine that!?! All of the perfect coins are ending up in Ohio and the same ebay seller!

Here is a 1935 penny in MS70 condition...according to this fishing plastic and gold foil slabbing outfit!!:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=39456&item=3937854195&rd=1

 

I wonder exactly what material these holders are made out of. Looks like a cheap hard plastic in the pics. Does anyone know if SGS has a website?

 

Here's their "professional" web site...

http://www.stargrading.org/



Don't you love the gold foil tape?

 

Here is a short announcement found on their site:

SGS is proud to introduce an industry first.
We are now Certifying and Authenticating some different Circulated-type coins.
These coins, being circulated, would not benefit from being graded, but would
benefit from being certified. With SGS you know it's Authentic.

Not benefit from being graded? And here I wasted all that money certifying those circulated key date mercs, lincolns, and morgans. If only I would have known.

Not a lot of info provided on their site. No guarantees offered, no market indications, just the plug for 7% on Ebay.

Any idea if the seller on Ebay owns this company?

 

According to the addresses of SGS and the ebay seller, Aboncom, they are close to one other in the same area of Ohio. There is NO phone listing for SGS and Aboncom has never denied they own SGS or are affiliated as one in the same.

If you leave a negative for this seller, they will personally try to destroy you and waggle their positive rating in your face. Never question the fact they may be selling their own graded coins. Ebay simply believes that SGS is a 3rd party grading company which is no differant than NGC, PCGS, ICG, etc.

Seller's address:

Abon Enterprises (aka Aboncom)
115 Park Ave West
Mansfield, OH 44902

SGS's address:

Star Grading
1610 State Route 60 South
Ashland, Ohio 44805

Here is a map of Ohio...they are down the road from each other!!

http://www.infoplease.com/atlas/state/ohio.html

*********

If it walks like a duck, talks like a duck...

 

Which grading service was different? The one doing the sueing or the one the former employee started?