I stumbled accross this on the NGC site and thought I'd share with any GSA Silver Dollar collectors on this forum.... http://www.collectors-society.com/news/ViewArticle.aspx?IDArticle=447
I've always said that NGC will grade anything for a price. If they do this, prety soon you will see buffalos in their Mint shrink wrap graded this was as wtell.
i dont think there is anything wrong with it IMO .. just another thing to get graded and 'slabbed... but did you see in the article... NGC will NOT guaruntee the grade in these holders....
Whats the point of the grading then? Just so NGC can make more money collecting grading fees. They are grading the coin first day covers as well in similar packaging. If you have money to spend. NGC will find a way to slab it and grade it.
They won't guarantee the grade because the coins are only covered in soft plastic - that means the coins can be damaged.
At 1st glance I thought that NGC "plastic sleave" was hard and not flexible... But as usual you make a Good point, I hadn't thought of that....
NGC also won't guarantee the grade on the hard pack GSA Dollars. Secondary damage is a valid point with the soft packs, but NGC does not guarantee any coin that is not in their own NGC holder.....Here's what an NGC GSA graded hard pack slabs say the reverese label... NOTICE: NO WARRANTY OR GUARANTEE IS MADE WITH RESPECT TO THIS COIN OR ANY SERVICES SUPPLIED IN CONNECTION WITH THIS COIN. NGC HEREBY DISCLAIMS ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE, ANY IMPLIED GUARANTEE OF GRADE OR AUTHENTICITY, AND ANY OTHER IMPLIED WARRANTY OR GUARANTEE. As to why anyone would grade a GSA coin...just take a look a few ebay auctions for GSAs---not everyone is comfortable with their own grading abilities and will pay a premium for a reputable service to do it for them. Buy the COIN not the SLAB (or in the case of GSA Dollars...not the SERVICE)
Why not slab the slabbed sleeve? Then they could slab the slab and then guarantee that the slab is genuine.
I agree with you. This is why a lot of people hate the slabbing of coins and the money grab of slabbing giants that shows no bounds at all, pay them and they literally will grade and slab it. This need to have the best grade is starting to seem like little leage where everyone, even the loser feels the need to get a trophy to make everyone happy, but here it is adults with money they pay to a grading service for that trophy that has no meaning, if this type of grading anything continues.
However, if you ever find out that you purchased a fake then you would be sorry that you didn't have it slabbed. I know that I purchased a 1909 S Lincoln and (I knew what I had) had NGC slab it for me, it was an S-VDB. Also, I argued with three or four dealers about a 1942/1 D merc and had NGC slab it for me. It came back as an XF-45. They (the dealers) apologized and went on to really study it. At the same time, there are so many fakes out there, even of the key Barber quarters, which we have discussed on the CT forum, that anyone who is not REALLY good with the characteristics, they should get them slabbed .
Good point, I do agree with you on the aspect of certifying for the sake of legitimacy and weeding out the fakes and forgeries, especially with ebay and the Chinese fakes. However stand by my point of everything getting wrapped in plastic as a trophy, I see that baseball cards have grading companies now as well, and most of that market has collapsed
The GSA dollars sales we are discussing were the efforts the government made to dispose of the nearly four million silver dollars left in the government vaults when they discontinued redeeming silver certificates for silver dollars back in 1963 or 64. They conducted a series of sales in the early 70's and a final sale in 1980. All of those dollars are long gone. The GSA does still run sales of surplus government property and sometimes there are some coins included from drug confiscations, and IRS liquidations. I would do some Google searches for things like GSA surplus property sales, or government surplus property sales. You might also try DEA sales, or ATF sales.
