Am I the only one who thinks grading is a ripoff?

I don't think it is a rip off for higher end coins to get slabbed, but I don't feel moderrn coins are necessarily worth the money of sending them in. just my opinion though.
I would also like to see a service that would just authenticate coins. I realize the amount of work involved to fully inspect a coin, and then put it in an expensive air tight holder would not save a lot of money, but there could be a market for it if it just took the doubt from someones mind of a coin being counterfeit.

 

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That has been done. ANACS - American Numismatic Association Certification Service - was created in the early '70s to authenticate coins. They later added grading to their service to meet market demands.

 

Nothing beats the satisfaction of picking up an modern commem, in a '69 holder, for less than OGP......

 

19Lyds was spot-on. Bulk submissions are primarily the reasons for $10 slabbed coins. You have to remember that scoring a few big ones more than makes up for all the losers.
Lance.

 

And then after they sold the GRADING service to Amos Press in 1990 they created ANAAB American Numismatic Association Authentication Bureau that only did authentication. ANAAB closed down in November of 2002 due to lack of use and difficulty in keeping staff.

 

A habit you should get out of and buy the coin. Buying the slab because its an NGC or PCGS slab regardless of whats in it, eventually is going to hurt you in the long run.

 

Where were you when this auction closed?

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=280658233217&ssPageName=STRK:MESOX:IT

 

This brings up a question I had a couple months ago about PCGS coins in holders. At a flea market coin dealer here local has a whole shelf of 2007,2008, 2009, and 2010 Lincoln cents MS64 - MS66. His prices are ranging from $24.00 to $26.00 dollars. How can he get these coins slabbed and still make a profit?
Big Ed

 

How so? and trust me when I tell you , no it doesn't, no it won't and no it hasn't.

ha! lol... I should have been more specific. I only EatWheaties. DOH! I was, I am, and I will be!

 

Really? Can I borrow your crystal ball?

 

Yes it does, yes it can, and eventually, yes it will.

I've seen it happen more often than not, someone pays more for a slabbed coin because of the slab it was in, then tried to flip it for more than what they paid for it, only to find it's worth was considerably less than what they paid.

 

I agree with Mike. There is no value in the plastic. But hey, if people are willing to pay$10 an oz for clear plastic, I have about 2,000 pounds for sale!
Guy