eBay's newest requirement... Slab them or ELSE...

Got this from eBay this morning... Would seem to be a windfall for PCGS and NGC if taken to its natural extreme. The extreme being a year from now when eBay announces the program has been such a success that they are lowering the value requirment to $300 a coin. In any case, read on...,,,,

As coin collecting continues to grow and thrive on eBay, customers have told us time and again that knowing they can buy and sell with confidence is important. We'll be updating eBay's Stamps, currency, and coins policy to help foster that confidence—this update may impact your coin listings.

Starting May 30, all new listings and relistings in coin categories will need to meet the following requirements:

• First, listings for coins will be allowed to include a numeric grade in their listing title or item description only if the coin grading company meets certain objective standards.* Coins that haven't been graded by these companies will be considered raw or ungraded. Currently, eBay has determined that only the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS) meet these standards.
• Second, for US Coins only, grading by companies meeting these standards will now be required for all coins listed with a Buy It Now, reserve, or start price of $2,500 and above.

Good 'Til Cancelled listings will have until June 30th to comply with the revised policy. Listings that don't comply by these dates will be ineligible for relist or renewal and will be removed.
We've heard from both buyers and sellers that they'd like to see more coins on eBay graded by companies who meet high standards. These new requirements are an important step toward meeting these marketplace demands. Take action now to ensure your listings comply with these new changes.
As always, thank you for selling on eBay,
eBay Selling Team

 

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http://www.cointalk.com/t204652/

 

ANACS shot themselves in the foot (ICG did too).
They don't have an online database of coins they've slabbed.
It was only a matter of time before this jumped up and bit them.

NOW that ANACS has lost its eBay "blessing" they are in the process of creating that database.
Might be too late.

But ANACS and ICG coins might just have gotten less expensive.

 

ANACS and other TPGs can still be sold on Teletrade, Heritage and other auction sites, AFAIK.
Personally, I feel eBay is over-regulating itself but hey, it's their ball and their bat, so they can make any rules that please them.
The public will be the final arbiter on the wisdom of this latest round of regulations.
I like older ANACS slabs - they are accurately graded and attributed (at least the Roosie dimes I have in them are).
Never had a use for ICG, may have a couple of low value coins in their slabs but I feel that ICG wildly mis-grades coins, so when buying an ICG entombed coin, it really is a case of buying the coin, not the slab. I won't pay more than a "raw" price for an ICG coin.
I don't buy much from eBay any longer, anyway.
Their NGC/PCGS requirement for coins $2500 and over may prove problematical for the UHR Double Eagle in OGP and a few other modern coins (like the Jackie Robinson $5 MS) but shouldn't prove too onerous for the vast majority of buyers and sellers.
OTOH, if for some reason I was gonna spend more than $2500 for a coin, it would only be for one certified by PCGS or NGC.
My biggest gripe with eBay.com is that they refuse to recognize ICCS as a major player in the Canadian coin market. ebay.ca allows it to be used but not ebay.com

 

I'm hoping to see 100 individual threads on this one subject.

 

Where's yours?

 

He didn't/won't start one because there is already one thread, 12 pages long, that was started 2 days ago.

 

Yes, but he's right, there will be dozens more as time goes on..,,

 

Yes because "some" people will think they have breaking numismatic news to get onto this forum, and won't take the time to search the forum for previously started threads on the same subject.

 

I'm usually not the first to know about something so I actually take the time to try and find anything on the subject that I may want to write about before putting up a new thread.