SGS coins exposed

SGS coin grading exposed

This thread is on the scam of the star grading service or SGS for short.If you visit their homepage you can see the sentence"A coin grading company specializing in grades 60 to 70, both Proof and MS" Which means they only assign the grades 60 to 70.If you submit a bill they say"Bills which receive UNC (60) or above will receive letter and number grades, and below that bills WILL be designated as either AU (Almost Uncirculated), FN (Fine), or GD (Good).A few months ago i submitted a 1936 quarter to PCGS and it was assigned MS-62.Then I submitted the same coin to SGS and it came back MS-70 proof.:bigeyes:I looked at the coin itself and it has 8 scratches and no reflective surface what so ever and even a fngerprint.I contacted the company and they sent an email saying " Proof coins - 1936 & forward and MS Uncirculated coins
Only coins reaching grades of 60 to 70 will be graded.
All others will be simply returned or certified.
Please do not ship coins without an authorization number.
All coins shipped without an authorization number will be returned.SO NEVER BUY OR SUBMIT ANY SGS COINS EXCEPT THE RARITY OF THE COIN ITS SELF.


FOR MORE GO TO:http://coins.about.com/od/coinbuyingadvice/qt/ebay_coin_fraud.htm

 

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wow MS-70 proof. yeah ok.

 

big surprise

 

SGS is a joke. It is just another TPG that I call an "XYZ" grading company.

 

SGS has been extensively examined in this forum for years. Anyone interested in exploring this company, and others like it, can always go to the search option and find out all you need to know. It's not pretty.

Bruce

 

You'd think they would at least know the difference between Unc. and Proof.

 

Funny, I have several that I got in Larger LOTS.. I would NEVER buy one strait out.. I never even wasted time looking at the company.. The coins were such a Joke that I just guessed that they sold empty slabs always with the grade 70 and the buyer put the coins in.. They wouldn't even grade a AU IMO,, I Just tossed them into my Pile or gave them to my Kid.. Heck I have no idea what I did with them.. Worth Face Value.. Oh and I guess I could recycle the Plastic....Yea!

Oh And ERRORHUNTER... That Blue Nickle Blows my mind!!! That is so amazing!! I have been wanting to say that every time I see it!! Dear God.. I want one!! Maybe in Blue then Red, Purple,Gold.. Wow.. A set to make a Rainbow !

 

Here's a great example of a SGS "Certified" Mercury dime - look at the reverse:

http://cgi.ebay.com/1929-D-GUARANTE...mQQptZCoins_US_Individual?hash=item3efcd324bf

 

well, it is certified, but I guess tht they couldn't spell AG, so they didn't bother to grade it.

 

Serious Garbage Slabbing strikes again.

 

Funny...I bought a 'set' of '56 Washington Q's from them 6 months or so ago, for a very very reasonable price (I guess noone wanted it due to the coins being in an SGS 'slab'). They were both graded MS70, 1 regular reverse, and 1 Type B reverse. The Type B looked pretty nice...I figured MS64/65. Sent it off to PCGS, where it graded at MS65 (the normal reverse fit in nicely into my Dansco...matches the rest of the set at a 64/65 also, and it looks good in the Dansco). No, I am smart enough to KNOW it wouldn't grade MS70 at a REAL grading service, at least it DID grade gem 65 (they DO take decent images, I'll give them that)....hence my buying the set. Other than that, yeah, they do grade by their own standard (being either MS70 or PR70). Pretty easy standard, if you ask me. That'll be more than likely the one and only time I EVER purchase an SGS 'graded' coin, unless I can find another rip like that one.

Oh, the only other 'plus' to SGS is it's mighty easy to crack a coin from. Basically, just look at it and it falls apart.

 

Did you notice that their Certificate of Authenticity appeared to be the "fill in your own verbiage" type. Glad you snagged a decent coin from them - course it's always Buyer Beware at Ebay.

 

I dislike SGS as much as anyone! Though I do give them credit for knowing how to make a zillion times as much cash as we do....

 

I purchased an SGS certified commemorative a few years ago , before I knew their real story. I paid what I would have paid for a non-certified coin, so basically I got a free holder. If you buy without getting your hopes up, you'll probably be O.K. However, I doubt they have the ability to authenticate anything.

 

I can't let a SGS thread go by without mentioning GEC another self slabber of similar quality. I don't even know if they are still in business. I haven't seen any of their coins on the market (ebay) for a few years, now.

Bruce

 

Most of these self-slabbers don't rely on their coin grading business as their primary income, so they may not "slab" anything for a while. Sometimes they even switch company names if their reputation gets too bad. The best rule of thumb is never pay a premium for a slabbed coin, unless it is one of the major services.

 

Can you post an image of a GEC slab? That's one I've never heard of (is that the one thats shaped kinda like a toilet seat?).

 

Here is a pic of a GEC slab:

 

This is more what I am used to seeing for GEC.

 

OK so in reality "SGS" stands for "Suckers Grading Service" Right ?