Just got kicked off the eBay Coin Forums for 7 Days...SGS Coins

Apparently I have gotten under the skin of Aboncom and SGS (one in the same). All I did was state that this eBay powerseller (Ab-----) owns and operates their OWN slabbing service. I didn't even fully mention the seller's name (Aboncom) as I could here as my only intention was to alert newbies about the practices of this seller/slabber. So after a few eBay generic emails warning me to stop picking on SGS, I am now offically booted from their coin forums. Gee...I could spend more time HERE!

:whistle:

Remember...SGS, and other "alphabet" grading companies that have invaded auction houses like eBay only exist for one reason and one reason only...to scam newbies into thinking their listed coin is in fact an "independently "graded" coin so that you will bid more agressively than if the coin were sold raw.

This is a huge issue when you buy coins "sight-unseen" on eBay. Unless you have the seller's first born and you can return the coin at a minimum cost, I would treat all of these "alphabet slabbers" as if the coin were being sold raw...nothing more.

They are marketing this "peace of mind" in order to drive up bids and profit over and above the true value and grade of the coin.

Bottom line...stick to the top TPG's such as PCGS, NGC, ANACS and ICG. Sometimes you may find some deals from the next tier of grading companies like PCI and SEGS. All of the "other" grading companies are just those sellers trying to make a quick buck at the expense of people that "think" they are getting a perfect 70 grade coin...when it is NOTHING of the sort. Worst yet, I see that SGS has moved into Morgans! I see lots of MS67 and 68 grades!

Do some research and see for yourself. Better yet, save your money and go to a nice coin show where you can SEE and HOLD what you are buying. After all that is said and done, you should buy the coin first over what plastic it is held in.

Only on auction houses like eBay will you find these "slabbing" companies/sellers that are only trying to sell you a bill of goods. You will hardly see these slabs at coin shows unless a seller got so disgusted with his "70" coin that he was willing to unload it at MS64 Bid pricing...just to recoup some of his lost money!

Pass the word and if you see any postings about SGS and what happened to "zakgold", please extend my salutions as I sit in the penalty box.

 

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Your a better man for it. You would think Ebay would make some attempt to protect their clients. I personally stay away from Ebay.

 

All Ebay cares about, is their bottom line. They are making a ton of money off of the SGS/Aboncom guys.

Charlie

 

oh joy:goofer: :goofer:

 

Just for my sanity -- is SGS the same as SEGS?

 

For get my previous email. I read the first one fully. What does an SGS holder look like? Do they have much business?

What kind of rep does Numistrust have. I have only heard negative responses.

 

No, SEGS is more of a third party grader, and is slightly better than SGS; although not up to NGC, and PCGS standards.

Charlie

 

This is what you have to avoid (NOT to be confused with SEGS):

 

That is one ugly slab!!! It has the details of a plastic "world's greatest lover" trophy!

 

Hey , only 7 days in the slammer. Not bad , and well worth it. These low-life edited at SGS deserve all the bad-mouthing they get...PERIOD. Thanks from the state of Maine.

 

vincent,

Maine, home of the beautiful 1920 commem!! I am a proud owner of one!

 

I have some segs coins of great quality, I find them WAY better than SGS

 

Could you post here the notice Ebay sent you?
I haven't been kicked off but I did receive a warning from Ebay about a similar post.

 

I did not know e-bay had a coin forum .

 

I used to participate on the eBay coin forum, but it lacks a lot of neat things that are also useful. The biggest omission is an archive. I found some helpful information there once in a while, but CoinTalk has it beaten, hands down.

 

Here it is...

Recently we became aware that your eBay registered account was involved in the
following activity:

* Public Board Abuse:

Including profanity, vulgarity, hate speech, disruptive or hostile comments, interpersonal
disputes, or threats of violence in a post.

which is not permitted at eBay.

You have previously been warned for inappropriate board activities, and asked to review
our Board Usage Policies.

Therefore, we are revoking all privileges of posting on any eBay board or groups, for a
period of seven (7) days. During this time you may continue to bid and to list your
auctions. Please note that any violation of this sanction, by using an alternate ID to post
on any eBay board, or to report posts for violations will result in the suspension of your
eBay account, including all buying and selling privileges.

Please understand our goal is to help you understand our policies to ensure successful
experiences at eBay.

Therefore, we respectfully request that, after your sanction from board posting is over,
you refrain from any activity in the future which violates the Board Usage policy, which
can be found at http://pages.ebay.com/help/policies/everyone-boards.html to avoid the
possibility of a suspension of your eBay registration.

Thank you in advance for your cooperation in this important matter.

Regards,
Janis
eBay Moderation Team

****************************************************************
Now if you go to this coin forum, you will find a number of subjects, but take a look at the comments made about SGS and their eBay powerseller Aboncom which I referred to as ab----- because you cannot mention sellers by name. Tell me if I didn't laid down the truth about SGS and their eBay powerseller Aboncom. Look under 'zakgold' post for review.

eBay coin forum LINK

BTW...I always tell those people they really need to check out this forum...a REAL coin forum.

 

good work Ed, I just can't bring myself to deal with all that eBay BS. I still sell there, but I tried to do the boards and just couldn't!

 

I look at it this way...every person new or old alike in numismatics that buys a fake coin, a counterfeit coin, a whizzed coin, a dipped coin, or a false "packaged" (slabbed) and "marketed" coin with a MS/PR70 label and gold tape is going to get burnt and turned off to this great hobby.

Many times too often, they leave the hobby in disgust...so I figured out (selfishly) the less people collecting coins, the less my collection is worth...the more people get into coins, the better for ALL of us!

I will admit it...back in early 2004, I bought a 2003-S PR70 SGS "faded - 3" coin from Aboncom and I thought I got a good deal. WOW!?! a faded "3" proof! It is going to be worth millions some day, and look! It is "certified". I took it to a real coin show and literally got laughed out of the place. Upon investigation, I found out the seller owned and operated this so called "grading" service of SGS whereby 99% of the coins that were being slabbed came from his own inventories.

Boy did my blood boil, so I make it a point to alert other collectors NOT to make the same mistake I did. Sure I am out only $50, but it is the principle of the matter. No one likes being taken...I don't no matter how little I lost.

So that is the story...pass the word, educate collectors and let them know about forums like this one where they can learn about the real deal as well as participate in some "spirited" discussions.

 

Or the less people that collect, the cheaper I can buy coins. The less people get into coins, the better for ALL of us! :whistle:

 

Good work Midas!!! I went to e-bay and read the entire posts and after I had to put my 2 cents in on the subject of SGS grading, if thats what you want to call it. Anyway I too almost got had by this "scam". I had only just started collecting so I was as green as they come about everything. I had just started bidding and buying on e-bay when I saw where I could get 10-12 Kennedy's, MS70 cheap, cheap, cheap. I thought it was to good to be true and boy was I right. I didn't buy the coins, thank god, but I soon learned about SGS and what a joke they are. Actually it's no joke it's a fraud and it needs to stop. I personally don't send coins to be graded, but I will buy a PCGS or NGC graded coin if the prices is right. I also have purchased some other slabbed coins like NTC, NNC that where obviously not up to standards but very very cheap. I bought these to help educate new collectors, mostly the kids, so that they can see the difference between the reputable companies and the off the wall companies. Even between PCGS and NGC there is way to much subjectivity for me to be happy about spending extra money to get a coin graded. I'll let the person who ends up with my collection worry about that. I enjoy having the coins not how much they are worth. I do want to become a expert grader if only in the area of the coins I'm most fond of.
Again good job and keep up the good work. Wouldn't it be great if we could get a hundred or more cointalk members to voice their negetive opinions on e-bay about these rip off artist...mostly SGS.