ANA Endorsing Grading Services & ICG Response

Discussion in 'Coin Chat' started by Silver Striker, Nov 4, 2006.

  1. Silver Striker

    Silver Striker Senior Member

    http://www.icgcoin.com/Default.aspx?tabid=751

    This was some interesting reading for me tonight. This is giving me some insight into my thinking regarding ICG and what they are doing for the industry.

    I am still looking at the grading services and while I am just touching the surface, I haven't read something this interesting from others yet. This might just make me change my opinon of ICG after the debacle over their grading and slabbing of casino chips.

    Other than I really like the ANACS holder, I am now thinking about placing ICG in the top 3 on my list now. However, I still have concerns regarding their guarantee which I haven't checked to see if they've changed it from what I recall.

    As far as ANA and this "endorsing" of a grading service, I FEEL (and I am not a member of ANA) that it should have strict requirements in place for such endorsements and NOT repeat NOT be paid a dime for such endorsements. Also that there be no limit on the number of endorsements if the company can show that it meets all of the ANA's requirements for that endorsement. After all, they are more or less assisting the collector in making these endorsements and as a collector, if I were a member of ANA, I wouldn't be appreciative of endorsements that are paid for. After all isn't the ANA a NON PROFIT orginization? And they already have an "Official Grading Service of the ANA", NGC!

    Do I see some GREED here by the ANA?
     
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  3. Vroomer2

    Vroomer2 Active Member

    Kinda. That same issue, Coin World published the ANA's financial troubles on page 5. Whereas the Endorsed Service article was on page 1...

    So, I saw it as a "crap! :headbang: we need cash! What do we do?!?!?!" game plan.
     
  4. Silver Striker

    Silver Striker Senior Member

    WOW!

    Well I finally broke down and decided to take out a subscription to Coin World.

    The current issue has information regarding this issue and more regarding a commentary on authenticity guarantees by grading companies.

    It's very interesting reading to say the least!... Make a new collector very leary of the hobby in general.
     
  5. Speedy

    Speedy Researching Coins Supporter

    I wonder if Mr Love would considder running for Board Member of the ANA if some of us guys would help him out by supporting him with our vote---He seems to have hit the die on the planchet right with that letter and I bet the ANA is ready to sue him!

    Speedy
     
  6. Jim M

    Jim M Ride it like ya stole it

    I dont own any ICG coins, but after reading that. I might just pick a few up and check out how they grade. Fantastic artical and it does hold alot of merit.
     
  7. Treashunt

    Treashunt The Other Frank

    The ANA, under the current administration, is becoming a joke. They fired one director because he 'released private information' and then they started a major battle in the newspapers over the naming rights of the new library.
    The current President (Horton) and in-house attorney, Cippoletti, should be released, thankfully there is a new election and Horton will be gone. The remaining problem, Cippoletti, should be fired, but they'll probably sue me, like they have doen to everyone who has disagreed with them.
    As far as the "Official Grading Service' matter goes, anyone who can pay the fee will be admitted. Wait until they get a check from PCGS: Paul's Coin Grading Service. (Just a joke folks.)
    Let's see if they reject the check.
     
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