I'm trying to figure if the following auction is worth bidding on: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=3943524533&ssPageName=STRK:MEWA:IT Is IGC a trustworthy grading service? I've read some posts and ICG seems to be one of the top four services, but I've also read posts where people first use the "ICG" and then the "IGC" acronyms, and it seems like they're the same company. Are they the same company, or are they different companies? Should I stay away from IGC graded coins? (Sorry about the newbie questions...)
ICG is one of the top four grading companies and is very trustworthy. The slabs this seller is offering are ICG - they just spelled it wrong in the title bar. And welcome to the forum!
Welcome to the forum CoinSwede. I'm not quite sure what your question is. You're asking whether "IGC" is a trustworthy grading service, but the auction you refer to is offering "ICG" graded coins, in ICG's distinctive green-labeled holders. Independent Coin Grading has its own website, and is generally considered one of the "top 4" TPGs. Their distinctive claim to fame is their use of Intercept Shield anti-tarnish/corrosion technology in their slabs. All I can say is that a Google search turned up multiple examples of ICG being identified as IGC, but I couldn't find anything to indicate that there really is a company with those initials. (Doesn't mean there isn't - just that I didn't find it in the first dozen or so Google hits that I checked out.) All that being said, I'm with you in being a little uncomfortable about finding that many PR70 DCamss being gathered in a single lot. Don't be. This forum operates on the basis of the old saying - "The only stupid question is that one not asked."
Definitely a typo error. I like ICG graded coins and especially their use of the Intercept Shield for protection. Good luck
This is the area where you will find controversy about ICG and why many collectors do not consider ICG to be the equal of NGC & PCGS. It is also why you can often buy other coins slabbed by ICG for less than the same coin in the same grade slabbed by NGC & PCGS. Many collectors do not believe that MS70 & PF70 coins exist. But ICG sure slabs a lot of them. Of course NGC & PCGS slab coins with the same grades as well - just not as often. Why that is - is debatable. And it is not at all uncommon to see sets like this slabbed by ICG with every coin being slabbed PF70 DCAM. Whether the coins are truly worthy of that grade must be determined by the buyer.
Personally I think ICG is every bit the equal of the other "majors" for all but the uber-graded modern coins. A classic ICG AU-50 is every bit as nice, on average, as a PCGS/NGC AU-50. That's probably true for classics all the way up to at least MS-64 or MS-65. The modern ICG stuff graded MS-69 and PR-70? Probably overgraded by a couple of points. But if some buyers dismiss ALL ICG coins because of this one problem area, then others can pick up nice bargains.
Ironically enough, I recently got an 1851-O 3-cent silver graded by them and I think they undergraded it by a point or two. I realize the value difference isn't going to break the bank, but I do feel a bit disappointed. I definitely can't say they're too generous. The coin has a very nice golden luster over both surfaces. It appeared so lusterous that I thought it had a shot at an MS grade (I didn't notice any wear). Well, needless to say, they noticed wear, enough to grade it at AU50. I've seen more than 1 AU50 3CS and this looks nothing like them. It looks Mint State. I'll have to agree with ICG that there is a bit of break in the luster (after more intense observation in better lighting). But, setting the grade so that it's one notch above a choice EF coin seems a bit extreme. At this point I won't break it out of the holder. I also would never plan on selling this coin as Mint State, but I think it fits the definition of Choice AU to a "T".
