Coin Grading Companies (TPG's) to Stay Away From...

Hats off to Coin World. They ran a great article in their Janurary 9, 2006th edition titled "Alphabet Explosion in Slab City...Slabs of lesser-known, new grading services proliferate at general online auction sites".

There, they researched many of these so-called grading companies that sell their coins, primarily on eBay.

Here's the companies they researched:

IGS, INB, NGS, NNC, NNGS, NTC, PCC, PCCI, PCI, PGS, TGS, UGS, and my favorite, SGS (Star Grading Services).

Out of these "grading" companies, Coin World was only able to find any information on seven of these bozo's. E-mails were sent to the seven companies requesting further information and only three responded: TGS, NTC and SGS. Imagine that!, you have an opportunity to blow your horn for your company and only three responded!!

TGS responded by asking for an address where information could be mailed, but none was received by Coin World.

NTC responded that it uses ANA training and, "We guarantee the authenticity of all coins we encapsulate", but offered no ther details about that.

My favorite people at SGS responded, "Sorry, but we are so busy we are not able to take care of our long time customers so we are not answereing any requests right now from new customers."

---Funny about that response because I got the same response over two years ago when I asked if the powerseller Aboncom owns this "grading" service??

My opinion after reading this article. STAY AWAY FROM ALL OF THEM!! They are worthless and they will turn off a new generation of collectors.

 

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Good post. Thanks for the information.

Bone

 

Especially SGS. I wouldn't go near them with a radiation suit on.

 

I'd like to add some new ones! CCGS, PNGS, stay away from them. Also, accugrade.

 

My only concern is for lagit upstart TPG's who want to provide a service but are sqeezed out by the big boys. I don't know if someone could actually start a new service and make it to the top tiers, it would cost them a large furtune IMHO.

 

I disagree 100%....you can find good coins in any of the slabs...and PCI is alright IMO....I've found some GEMS in their slabs.
I think we should tell people about these but I don't think its right to say that you won't find a good coin in any of those slabs.
NTC is another one I have coins from....they overgraded sure but the coin was much cheaper than if it had been in a PCGS holder.

Speedy

 

Right you are GDJMSP...I should have been a little clearer with that...
I would have thought that CW would have listed PCI higher....it seems like around here and at shows PCI is getting more and more business....my dealer is a fan of theirs and lots of dealers at shows had PCI and SEGS slabs....just as many as PCGS and NGC.....

Speedy

 

I could not agree more

It is just pitiful how many collectors are buying the TPG and not the coin. I do an automatic "regrading" in my head - lowering at least a grade for SGS and PCI. BUT, not purchasing a coin based on the slab is the height of foolishness. We have all witnessed the scene of dealers telling buyers, "But it's PCGS/NGC/ICG"/ I saved hundreds of dollars getting the 1839 "No Drape" half in a PCI holder (AU50) then having it regraded (AU53!) by PCGS.

 

I too saved lots of money from buying a coin in a PCI holder....I agree with the grade on the holder and I think it would cross over easy if I wanted too...but the point is that we both....knew how to grade the coin in the holder right...we didn't take the slab for "gold"--that is where many new people slip up IMHO....they just think a slab is a slab...

Speedy

 

hey midas you forgot Mida grading service (MGS???) I would stay away from that company too!!! lol :goofer:

 

As a newbie...

I like some third part grading companies. I have heard several people "dislike" slabbed coins - but it helps me as a newbie in finding what I like and trying to get good prices. Since I am not very good at grading (yet) - I purposely went out and bought some graded coins just so I could compare them to the raw coins I have. I compared the slabbed coins with what is in my ANA grading book. No complaints so far. My whole point is as a newbie I need the help from the 3rd party graded coins to help me learn to grade. Yes - I assume when I buy the coin it is graded correct and yes I could miss something on the grading of the slabbed coins, but they help. My next step is to take some of my raw coins(and my fathers) and get them graded. Then we will see how my grading tests out - still does not mean they are right. So far the only one I avoid is SGS.

I also have to admit my father just received a morgan from NTC(or maybe NNC) graded at MS65. Comparing it to his other morgans (PCGS and NTC) that are graded MS65 - looks like all coins are graded correctly.

 

Post some photos of the Morgans...I've seen some coins in NNC holders that were alright....but mostly they wern't....they even slabbed cleaned coins and didn't mark it in anyway.

Speedy

 

Not sure if he will let me have them for a few days to get scans and I do not think my camera is good enough. It was graded by NTC - called him. Local dealer looked at it today and said it was a good deal. It did get one polished coin off of ebay (spent about 12 bucks for it) and now he knows what to look for. He is too busy using them to look at what is up for auction. I think he got one raw coin that will grade out at MS something. As a matter of fact he keeps his morgans near his PC to just to help with what he looks at online.

Grading would be easier if the coins looked just like the pictures in the book. I bought a 1798 drapped bust large cent that looks dead like the G4 picture in the ANA grading book I have. Made it so easy.

 

This coin was cracked out of a PCGS MS-63 holder because it had a smudge/scrape on the front of it (holder) that is. I'd had a couple of shot's of Wild Turkey with a buddy who collects too, LOL I used vise-grips with no problem at all until I dropped the dang coin

Bone

 

If that tiny rim ding at the bottom dead center is all the damage you did, I'd say you were pretty lucky.

 

Coins are like fingerprints...none of them are the same---just use the book as a guide...what I think is better than a book is the hands-on learning you will get by just looking at lots and lots of coins.

BTW--your dad might miss some cleaned coins....you see...he is only looking at one harshly cleaned coin it sounds like...there are many ways to clean a coin and none of them look the same....

Speedy

 

I never noticed the ding while it was in the holder as that's pretty close to where the opaque smudge was at :goof: :goof: :goof: It was dropped on a wooden floor but with gold it doesn't matter much now does it?

I paid $545.00 for it BTW in January of 05. The smudge was listed in the auction description. I shoulda grabbed all I could have afforded at those prices.

Bone

 

Yes - I keep reminding him about it, but he wants to continue collecting Morgans and I do not want to discourage him. So far he has only bought about 8. And it looks like only 1 was cleaned. Will visit this week and try to get some scans.