I don't think they can really be that horrible at their grading. Do you think they do it just because they think if they put higher grades on them, they will get more business? And, lets say if that is the answer, don't they see that it is not working? stainless
they make enough money fleecing the newbies and the uneducated that they don't care what you or I think.... Until we start educating people!
I think that is exactly it. They can use the marketing from other companies and make more money on it. Here is an example, lets say you have a coin that according to the PCGS price guide is worth $10K in MS67. If I started my own TPG...lets can it SKS, and I slabbed that coin as MS67 (using an MS63 example) and stated in my ad what the PCGS price guide says...I could get more than MS63 money for that coin from some unknowing person. I won't get $10K for it, but more that MS63 money. These companies take advantage of less knowledgeable collectors or people who want to buy a collector a gift (especially during this time a year). They don't expect to make any money off more serious collectors...but there are plenty less knowledgeable people out there.
I really would not doubt if their original intentions were to be a reputable TPG, But with the top 3 already so well known among collectors, it would be hard to squeeze yourself in there. So they dropped their standards to try and make more business, like they had originally planned.
I think that is probably true for some of them. Or, perhaps they simply didn't have the skill early on and didn't do a good job...and then just dropper their standards. I do however believe that some of them were bad intentionally from the start.
I certainly believe most do it just to fleece the unknowing. These people know coins and many also know that, while a new collector may know that a higher grade is "better", they have no clue how to grade. Couple that with retail or even Greysheet prices and that MS66 Morgan is a steal. We currently have about half a dozen NAC MS66 Morgans in a case at work. Have no clue where the boss got them but can tell you this. They are VERY nice. IF you like AU50 polished Morgans. I wish he'd pull them out so I could put some REAL coins in there.
Holy crap!!! Really MS70, that's like perfect and worth alot of $$$. I'll give you like a bazillion dollars for it!!!!!!! I just got to run down to my bank and take a loan against my house for it.........
I know this prince from Liberia that needs some help moving some money out of the country. He said something about sending a small amount now and once it is moved you would be given a large percent. You may want to consider that instead...as I think that coin has been slightly over graded. I think this is a better investment. I have his contact email if you'd like it.
Oh you got that email too? He has my info already I'm just waiting for that small deposit in my account. Hey I can use that money to buy that coin!!
Did I tell you all about the time I got fed up with those scammers? I led the guy on for about a week or so, then told him I was afraid he might give me a computer virus and that I wouldn't trust him until he sent me a picture of himself! Classic.
It's usually Nigeria, FWIW, and those people are not to be trifled with. They are legitimately dangerous and murderous. There was an NPR story of a group of people who were counter scamming these guys even to the point of getting them to Sudan and then Yemen after some money, and putting them in mortal danger. But it should be known that these people are dangerous and violent. Ruben
I forgot to mention its also an error coin, the copper part of the reeded edge is sunken in about 1cm so its even more rare than you think. and that luster lol but seriously that slab did have a ms70 coin in it. SGS ms70 1976 d "evenTly" toned ( yes evenTly) quarter. along with hairs in it... I only paid $2 + s&h though
Most of these nonsense TPGs are "self slabbers". IE, SGS is linked to eBay seller aboncom. They call anything XF/AU and Up MS70 and I've seen plenty of people pay, while not MS70 money, more money than they should.
not counting the s&h, i paid 800% of the value, the local shop said they would sell me a better one for a quarter:hatch:
