Ebay Throws ANACS Under the Bus

Because of this newly purchased old antique car in my yard. Then my hands become dirty for working on a mechanical engine that needs oil and others things. So what i did wear a plastic liner gloves then wear a cloth cotton gloves then ask my friend now shoot it! click click! All is well.

 

Log in or Sign up to hide this ad.

We had a customer who was buying Mint State PCGS and NGC Indian Head cents from us and others and (against our advice) cracking them out to put into a Capital holder. He decided to give up and we took the coins on consignment. We had the keys 1866-1887, 08-S, 09-S, etc regraded by NGC...they came back the same grade or higher than the original grades. We sent the common dates 1888 through 1909 Philadelphia to ANACS on a $12 per coin special. About 1/3 came back "questionable color" and with one exception, those that were in no problem slabs were a grade lower than PCGS and NGC had slabbed them (mostly 64s that came back as 63s from ANACS)

 

I do not believe for one second that NGC or PCGS had ANY say in this decision by eBay since neither company really NEEDS ebay. They have Heritage, Stacks, Teletrade. As it sits, Heritage does not sell raw coins but require all to be graded.

eBay more than likely made the decision based upon the grade guarantee's and "general perception" that NGC and PCGS graded coins are accurate. The sad reality is that, at least for PCGS Graded coins, the registry plays a HUGE role in the prices paid for PCGS coins! I have a 2008-D JQ Adams Dollar that PCGS "says" has a value of $900 that without the PCGS Registry is worth $10 if even that.




How do I know that? Simple. I have an extra that was "offered" on eBay for $250 or BO. Not a single offer has ever been received! Why?
Simple, those that paid $900 and got that figure recorded already have one. As such, there is no market.

Does this make PCGS Bad? No. BUT, folks need to understand the reasoning behind high PCGS coin Prices and understand the "reasons" that PCGS coins have, at times, high prices. That reason has nothing to do with the assigned grade.

 

I guess I should say that I can not say with all exclusivity that ALL the coins they grade... they over grade.

I have sent them mostly silver dollars and silver type coins. I guess I should say that from my experiences with those types of coins it is my opinion that they tend to over grade them.

 

You can use G, VG, F, AU etc you just can't put the numerical value to it. SO Anyone for an choice XF+? (Ah the return to pre-1979 when everyone makes up their own grades and all the adjectives they want. Thank you eBay for making things "better". :too-funny: )

But they have a current rule that forbids numerical grades for anything but PCGS, NGC, ANACS, and ICG. NTC is not on that list and the auction in question should be pulled under the current rules.

They don't have on-line pop reports or on-line slab number verification.

Possibly because it has been reported on other forums that when the eBay official were asked how they came up withthe standards ebay should apply, they said they went to an expert in the numismatic field for advice. John Albanese (co-founder of PCGS, founder of NGC, founder of CAC which only beans PCGS and NGC slabs.)

 

That's Accugrade not ANACS, and yes ACG "it is smell Bad fish! STINK!"

 

Lol yeah right.

Ebay has no clue about coins.

Heritage and Teletrade do.

Thats why they accept ANACS

 

This is just speculation, of course. I think the worry is that ANACS will now be perceived by some buyers as an unapproved, 3rd world TPG whose grading standards don't measure up.

More experienced collectors will know the difference, naturally. Particularly with regard to the old ANACS holders.

Another possibility is because ANACS coins won't turn up in searches there may be fewer bidders.

And finally, some owners may feel their ANACS coins now need to be PCGS/NGC graded in order to list them for more than $2500. Which adds to the cost.

You're right, Mark. My collection is almost entirely PCGS. I own two old ANACS and no ICG coins (besides many raw and several NGC). I used the phrase "some of us are upset..." because I didn't want to appear to be picking on anyone.
Lance.

 

Watch the 28 year old ebay guy address the PNG meeting. Twice he mentions this change is about allowing "you" (the big PNG dealers) to "sell at higher price points"

http://youtu.be/4ifz7_12XEI

 

Anyone got a Redwin to English translation guide?

 

Hmmm. How far off will it be before eBay, being the numismatic sales giant that it is, will offer a price guarantee for sellers based upon PCGS and NGC "published" prices??

 

This, from the ANACS site.
Lance.

Our Response to eBay's April 17 Announcement:
To our valued customers:

Many of you have contacted us about the email sent out by eBay regarding changes in their coin listing policies that specifically impact sellers of ANACS graded coins. We want to assure that you that we are absolutely confident that this issue will be addressed by the May 30 deadline that eBay has established. We would also like to take this opportunity to address some of the specific questions that have been raised, and to share with you what we are working on, which we believe will ultimately be of benefit to you. ......

http://www.anacs.com/Default.aspx?AspxAutoDetectCookieSupport=1



edited​

 

Can't this be said for all the company's?
Have not NGC and PCGS had gradeflation also?

 

that does not inspire confidence

 

lol...went and got a drink and still lol

 

Yes! please help me, I am not a good in english subject cuz I was born in Manila,Philippines ( Manny Pacquiao 8th world divission boxing champion, country men) which is so many dialect or over 72 dialect plus I travelled around the world for over ten years trying to learn to speak Japanese,French,Spanish, this is really hard for me as navigating officer in high seas now I am stuck in this great nation USA still a lot of friends with different languages.. OH NO!!! just simple english is fine with me, anyway I am not running to be a politician in this country! LOL.

 

Hey, ya know something Redwin? You're a good sport.......

 

I watch it, and it's look is the sign of new breeds of coin collector ( walk away ) will shift their hobby to collect something else like Old antique car or bottle cap of water! lol.I think it is time COIN TALK to start a Coin Auction here!

 

THANK YOU! as you see my MOOD I am always RELAX... never get MAD to anyone cuz I am very friendly person...I love birds,horses,dogs and even the squirell Iam talking to them not to destroy my vegetable garden...

 

You know redwin, I can relate to that squirrel thing. You are finally starting to make sence. Welcome to America...