What is the group opinion on ICG grading as far as accurate, etc. Also does anyone know how long they have been in buisness?
ICG was founded in 1998. There is no "group opinion" on it's accuracy. My personal opinion is that overall, TPG has been a detriment to our hobby, and other than authentication, they offer no useful service other than to stroke the egos of the vain.
^^^ Ha, I second that. From best to worst, the GENERAL opinion across the numismatic spectrum as I'VE seen it is that PCGS is the most preferred followed by NGC, ANACS, and then ICG.
jody: If you are referring to the ridiculous 'vanity' sets that PCGS & NGC have on their forums I agree. Even if you are talking about those idiotic MS-69 & MS-70 coins I agree. However, if I am purchasing an 1896 S Barber Quarter, then, regardless of the grade, it is worth the investment in the slab, just to be sure that it is genuine. I know a guy who purchased a 1901 S and a 1913 S Barber quarters, fro ma reputable dealer. They both came back as NG. He saved himself a lot of money, especially since the dealer took them back. So, it does pay, especially when you are dealing in big bucks. However, I do not agree with the difference in prices for coins especially from MS-64 to MS-65. And the crazy increases for each step up after that.
ICG is just as good as NGC, PCGS, and ANACS on pre-1964 coinage but on moderns they tend to overgrade a little bit. Their slabs just don't carry any premium.
They tried to talk me into submitting a coin that was cleaned (1932 s quarter in au) when they knew that they did not slab cleaned coins. They are corrupt and dishonest.
Hi, Go back and read my post again. I said: "...other than authentication, they offer no useful service...". Thanks.
Danr: I assume that this was at a coin show? If so, and done in person, then either: 1) they didn't know what they were doing; or, 2) it was an honest mistake; or 3) it is as you stated above.
From what I can see, on older coins they are alright. I would't mind useing them right along with NGC. I understand from a friend of mine that they slabbed one of his coins that NGC bodybagged but then again NGC might have graded it if he had sent it in again. I happen to know one of the graders at ICG (just know him by email). He is one of the best graders I know and would trust him if I was buying a coin sight-un-seen. Now I don't think much of their guy named James Taylor..... Speedy
It was at a show and this guy was their represtative. The coin was obviously cleaned. I took it over to the ANACS table and they said without hesitation it was cleaned (I had ANACS slab it because they slab cleaned coins and they are honest).
From what I can see after breaking out a couple. Their grading is as good as any other top-of-the-line grading company and the funny shaped slab makes for easier crack-out.
The unfortunate truth is that coins graded by ICG ( accurately or inaccurately ) bring far less money when sold either on Heritage , Teletrade or Ebay for that matter. Whether you agree or disagree with their grading doesn't really matter , the bottom line speaks for itself.
Yes there can be a "group opinion" Okay, you dislike slabs, so we can discount your opinion on any particular TPG. You dislike the concept. The "Group Opinion" is the value in the marketplace of this graded coin by grader"P" vs grader"N", or grader "A" or whoever. The fact is, and has been for many years now, that most coins in the mid 3 figure level ($500+) are graded. I would boost that for coins 4 figures and above, and grading is almost universal for coins in the $10.000 and above catagory. Period. Like it or not. Detrimental??? Doesn`t matter. Things will NEVER go back to the 1960`s or earlier, when TPG did not exist.
I think they are a little loose when grading ultra grade moderns, modern commeratives, and high end Lincoln Cents. In many areas, especially older, circulated pieces, they seem to grade fairly well. Because coins in ICG holders often sell for less than coins in other TPG holders, there are some bargains to be found occasionally. But, as always, look at the coin you are buying....not just the holder.
One of the reasons I prefer ICG is due to their strict policy on not allowing employees to buy & sell coins. Most of us know that PCGS & NGC don't share that same guideline.
The fad will fold from within, for where coins and precious metal meet, dishonesty is soon to follow. Many a fortune will have changed hands and new millionaires will have been made through chicanery and deception, but the hobby will survive and the coins which remained raw and unslabbed will be worth 10x their values. Time will tell...
