Bonediggers 2006 Christmas Contest

OK Guys and Gals, here it is yet again. Please keep the urge to respond with Political, Religious, or World Events out of the responses, there is a section for that elsewhere.

The question, In you own words why is Third Party Grading the best thing going on for the hobby or Why is Third Party Grading ruining the hobby.

Lets hear your triumphs and praise for the process or your frustrations and horror stories. The contest ends at 6:00 PM Mst on Christmas Day or thereabouts because the Dallas Cowboys will be playing the Eagles...

In my opinion the best reason wins the prize. A Beautiful Chinese/American Fouree (fake) Silver Morgan Dollar.

Good Luck
Ben

The coin given away will look much like this one. Maybe a different date.

 

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ttt
With Picture Now

 

Sweet and simple... the prize that you are giving for this contest demonstrates the greatest merits of TPGs for new collectors such as myself that would never be able to tell that the Morgan pictured above was phony.

Thanks for the contest.

 

Actually, until recently the TPG'ers slabbed it, it was only recently that they decided that most of the micro O Morgans were contemporary counterfeits.
Great Prize.
Thanks for the contest.

 

I Do not know about all that but i will bet my "first strike buffalo" against anyone soon to be "early release buffalo'' that the cowboys will win .

Garcia did look pretty tuff sunday.

 

My opinion of third-party grading is neutral.

The goal of TPGs was to help clean up the numismatic market of the 60's and 70's, which was tainted by so many counterfeit, cleaned, and atrociously overgraded coins that many collectors decided to quit the hobby. They succeeded in that aspect, but introduced a new set of problems. Now, plastic is seen by some hobbyists as a replacement for education - of course, nothing can replace learning to grade for yourself, being able to detect counterfeits, and just being knowledgeable about what you chose to collect.

I could go on with a long list of TPG related problems, such as 'the crackout game', slabbing errors that sometimes cost uninformed buyers a lot of money, and the SGS-like 'grading companies', though it all boils down to education. The unknowledgeable buyers were screwed back in the 60's and 70's by raw junk, they are easily parted with their money today, and they will waste their money in the future on junk, unless they decide to educate themselves.

Sorry if I strayed from the topic a little Thanks for the contest!

 

Personally I like TPGs, because there arent many coin shows where I live and I cant examine the coins I need for my collection myself. So I do alot of internet shopping and heavily rely on the expertise of the graders of rare or key coins for my collections. I can shop with confidence that I am buying genuine coins of a certain grade and not overpay for a coin I cannot inspect personally.

 

Well... hmmm... that's a confidence builder... umm... I hope that doesn't fully discount the quality of my response for this contest.

 

Here is an article about the counterfeits. Anyone who has seen one, knows they look exactly like a circulated morgan dollar should. Had multiples not been compared at once, I suspect they would still be considered to be real. Sorry for straying off topic Bone.

http://www.pcgs.com/articles/article_view.chtml?artid=4400&universeid=313

 

That Morgan has a 'D' reverse which was only used in 1921. It doesn't belong on an 1890 coin (with or without a micro o).

I could be pro or con on this one.

With so many people buying online, I think having coins 'certified' is good for uneducated folks (like me). It may not always be guaranteed, but at least there's some type of authentication and grading that comes with the slab.

With so many people buying online, too many TPGs have popped up. Some uneducated folks (like me) may be drawn to any piece of plastic because it's 'authenticated'.

So I'm not sure if it's "the best thing for the hobby", but I think they are very good for the hobby... as long as you stick to the top few.

 

No worries my friend I know where you work, keep that molecular biology degree close by

Ben

 

I too guess I am neither for nor against TPG's. However...... aka BUT..... I use them for authentication purposes. Also the fact that when the time comes to dispense my small collection, the ones in the slabs will be the easiest to sell. Seems that some of the TPG's have instint credibility, while others ... we wont go there. I do think that some NON biased organization if there is such a thing should oversee the grading services. I think that down the road, 2-5 years all of this crap that XXXXXXX <--- fill in the blank has been selling on the bay is going to come back and bite the hobby in the keester. This industry needs some regulation. Dang I can't believe I just typed that. TRUE TPG's have a place in he hobby. Buy the coin, not the holder, everybody say it ten times.. Nice thought provoking question there Big Ben.

 

I remember when a coin was simply "unc' or "BU". There is definately a need for TPGs to differentiate counterfiets and determine high MS, but the many new dealer/grader TPGs (SGS, etc.) are causing a lot of grief and ripping off innocent unknowing beginners and even some that have collected for many years, but don't have access to information, such as this forum. We all need to think of a way to get the scam TPGs out of business. By the way, I don't own any slabbed coins, but then my coin budget is very small.

 

See his last contest, where in my humble opinion the best answer was mine

As with most everything else my opinion is neither.

Third Party Graders are great, they usually grade coins for less and give them better scores. It makes ones collection more "expensive/professional". Collecting supposed to make you happy and 3rdPG's do this.(So long as you just don't tell them their MS70 coin ain't as good as your MS66).
Third Party Graders are ruining the hobby, they put higher grades then what it deserves and new/uneducated collectors get ripped off. And when they learn this they are liable to quit the hobby or be disheartened.


Grading is relative and therefore nether of these Best/Ruining opinions are right.
Whose to say that PCGS isn't just full of a bunch of old geezers with way to high standards and cant let go of the past?
Simply put my position is: If it looks nice and is in you price rage, buy it.

I actually emplore you not not to grade your coins, Sure you get that nice feeling inside when your coins scores good. But it's not about the numbers people!
However I also realize that some people collect in grades and to each their own. I only hope they don't collect thus just for trumping over others and the associated feelings.

*Note: I don't have a single graded coin, I'm happy with my coins just they way they are. (and I don't collect those you'd usually get graded)
But I do have a few coins graded MS-100 (100% mesmerizing and special):high5:

I'll stop here.
Enjoy my little rant in there? :eating:

 

ttt...

 

I prefer to have a coin that I can touch and know it is real and not something encapsulated in plastic, if I want that I can go to the museam LOL Yes I know all about how it helps prevent forgeries, that is until someone comes along with a forged slab and yep it is going to happen. Then you get all the cowboys out there who stick a coin in a bit of plastic and say it is MS this or whatever and those newbies who it is meant to help rush out to buy them. OK you got it I dont like them LOL

De Orc Happy Yule Everyone :bow:

 

Well, I'll make it short and sweet.

TPG's are helping the hobby by, theoretically, preserving coins from further wear. I know the slabs don't always protect from all environmental damage, but it certainly is a step in the right direction.

I believe TPG's ruin the hobby because of the grades and/ or "First Strike" designations. Besides the main TGS's (PCGS, NGC, ANACS, & ICG) I think people that don't know the difference between a good TPG and a bad TPG can be taken advantage quite easily and these people soon find out that they have wasted a lot of money.


Thanks for the giveaway Bone, and GO COWBOYS

 

I thing TPGs are good in some cases, for the coins out there that are most likely to be counterfeited that are very expensive rare coins like the 09-s vdb, 16-d merc, 1877 indian cent and the list goes on, then I feel its a good thing to have those authenticated, but, by an established well known coin grading service. The way I believe that TPGs are not a good thing is that some people tend to submit every coin they have that displays even a shred of luster to these off the wall over-grading certification companies hoping their coins come back to them MS-68 and then turn around and get bit in the a** when they decide they want to sell them, surprise!!!! Reputable TPGs, I believe, should only be used for truely rare, expensive and highly counterfeited coins. Of course...thats only my opinion.
Have a Great Christmas !!!!