Has anyone used this service by NGC? It appears to only be available through eBay. https://www.ngccoin.com/expert-review-ebay/ Just wanting opinions. I just noticed it within the last couple days. It could have been there in the eBay listing before and I didn't notice?
Personally, I have no problem with the premise of the service. Even the price is reasonable. Sure, you can get the same service here or on other forums, at clubs, shows, wherever...for free. That does not make the "free" services any less valid, just as being a business makes NGC's opinion no more "professional". NGC is in the market of extending opinions on conditions and authenticity of numismatic items. That is what makes their service "professional". Regardless if they are offering services from an "expert" (as there are such opinions given freely frequently in a non-professional environment here), they are offering this as a "professional" service...and that is where I have qualms about it. Reading the link you gave, they offer no "guarantee" in regards to authenticity. Now, obviously grade is subjective (and thus only an opinion to begin with) and is subject to the view of the observer. Authenticity, however, is quite a different subject. And the fact that they are offering professional advice to enter into a binding purchase contract based upon a consideration of the authenticity of the item, yet denying any responsibility for that advice is, in my opinion, unethical. That is not to say that NGC should take full liability, especially considering that their only evidence of authenticity is based on seller generated photos. But, in the very least, they should have something in their service that would help to guide their "client" in the event that the item indeed is found to not be authentic. If they are going to charge a fee to hold someone's hand into a possible bad deal, they should ethically take responsibility and hold their hand through the process of getting out of it. Not legal advice, obviously...but at least the role of guidance, advocacy, and support.
Maybe NGC should just charge a consulting fee. I can see NGC giving a no answer more times than an authentication go ahead. And a very broad grade. Does NGC get to preview the coin that gets the NGC link to authentication heaven? I didn't find another way to the above link except through eBay. I could have missed a secret portal at NGC. How does a seller get the link advertised on their page?
I knew I should have bought that coin. Oh well. Here is a link to a coin that has the NGC link. Maybe it is new listings with this link? Is something afoot with NGC and eBay? https://www.ebay.com/itm/1909-VDB-LINCOLN-WHEAT-CENT-BU-RED-CONDITION-/333248467685?oid=233191782523 And if someone here reading this post bought that 1909 VDB(ANACS holder), I think it was graded correctly.
I see this simply as an opportunity for NGC to make up for revenue losses while granting them the opportunity to gain some market trust. On eBay's side, they may prospectively gain more market trust with buyers in the coin category as well. NGC's website has an article dated June 20 regarding this new service, so I would have to say that this is definitely a new service within the past few weeks. As well, eBay's Coins category page now has a link to the NGC expert review page. Only time will tell how this new service pans out.
I don’t see it as being a bad service at all, considering the number of fake and cleaned raw coins we’ve seen people post on this site. I bet a big percentage of those came off eBay. You’re not talking much of a charge. Of course, NGC wants to promote its grading service. Frankly, if PCGS doesn’t already do this, I bet they just might in the future. And it might be a good service for ANACS and ICG.
PCGS doesn't do it and I hope none of the others follow with something similar. I see it as a waste of money. Grading from pictures is a crap shoot at best especially when it comes to pictures from countless sources like eBay. Then if you're talking about a graded coin the company is just going to try and prop up it's own product and talk down it's competitors. I trust PCGS grading the coin in hand 100% of the time over NGC's opinion of it from an eBay listing. Also forgot to mention, I seriously doubt any of the senior or experienced graders are spending any time looking at eBay listings for Five to Ten dollars when their response carries no guarantee or liability.
Fantastic idea. It makes a lot of sense if you want to buy a coin, but you don’t know the series very well (e.g. type set collectors).
Lol. I would trust NGC grading the coin in hand 100% of the time over any other TPGS opinion of it from an eBay listing. But that’s not the point.
I don't much believe in grading from photos, but I guess NGC doesn't either -- they're just putting coins into very wide buckets (MS/PF, 40-58, 1-35, details). And they're leaving themselves the "inconclusive" out as well, albeit with a full refund. I can imagine a sort of NGC denial-of-service attack where someone starts requesting this service for every dark, blurry, completely unreadable image that pops up on Coins and Paper Money.
oh wow never heard of this service, seems interesting but honestly, if I'm going to buy a expensive coin, I'll already only look for NGC/PCGS/ANACS/ICG coins already vs a raw and possibly fake counterfeit coin.
I agree and usually take the same approach. However the market in Europe is different. Although NGC and PCGS are getting more and more popular here, most coins are still sold raw on eBay. You can make good deals if you know your stuff... and I am sure this service is worth the money and allows collectors to make even better decisions when purchasing raw coins. As NGC member, I just gave the “expert review” service a try. @Rheingold it’s the coin you showed me. I’ll not share the listing or results here, just my experience as a customer.
According to the NGC link, there are only 3 "Possible authenticity opinions": Likely Genuine Likely Not Genuine Inconclusive (full refund) None of these opinions would persuade me to bid on a coin. So, for me, the service isn't useful. That is, if I'm skeptical of a coin's authenticity, I won't bid on it -- regardless of an expert opinion. But maybe a novice would find the service useful. And it would encourage a novice to submit coins to NGC -- the expert opinion is essentially free because you get a $5 voucher. Bottom Line: I think NGC is smart to offer this service.
Why? I am mostly a type collector and don’t know each series in detail (die varieties, common strike issues, etc.) If NGC says “this coin is likely genuine” I’d certainly be more comfortable buying it. There’s also the grade opinion. If selected, you’ll know if a coin in the AU/MS range will likely grade “high circulated”, “uncirculated” or receive a Details grade. That’s good enough to estimate an approximate value and to know if the coin is worth bidding.
It's a good deal for NGC, they get paid for a non-binding verbal opinion. If the person buys and doesn't submit NGC gets the money, if they do submit they get more money, though a little less than normal, and it may increase their submissions. If they were wrong on their assessment they still get to keep the money with no penalty. NGC gets exposure, money, and has nothing to lose.
