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<p>[QUOTE=&quot;IdesOfMarch01, post: 2977591, member: 39084&quot;]The financial aspects of issuing an authenticity guarantee for an ancient coin are both extensive and daunting.</p><p><br /></p><p>Since the TPGs don&#039;t earn the same fees as do the auction companies that DO guarantee authenticity, they have little if any incentive to offer this guarantee.&nbsp; Due to the enormous range of ancient coins, in both quality and quantity, the expertise necessary to issue a guarantee is NOT something that is easily obtained.&nbsp; Even experts on ancient coins disagree among themselves.&nbsp; I would guess that this isn&#039;t true for modern coins that are graded by TPGs, but I don&#039;t know this for a fact.</p><p><br /></p><p>The grading company is a third party to the transaction by which the seller acquired the coin.&nbsp; (The first party is the buyer/owner, the second party is the seller.)&nbsp; Unlike an auction house, the grading company (TPG) has no direct interaction with this transaction and has no knowledge nor background information on the seller.&nbsp; This fact, in and of itself, makes any guarantee a potentially high financial risk for the grading company.</p><p><br /></p><p>In order to cover this risk, the TPG would have to raise prices on its services as a reserve against potential counterfeits.&nbsp; Alternatively, they could seek insurance from an insurer like Lloyd&#039;s, but I would guess that there are few if any insurers who would take this risk. </p><p><br /></p><p>As an example, in 2016 I won (at auction) a Hadrian aureus from one of the leading and most knowledgeable auction houses in the world for around $38,000.&nbsp; Later that year, the auction house contacted my dealer indicating that the coin might be a forgery.&nbsp; The coin was returned to them, and upon consultation that included experts at the British Museum, they concluded it WAS a forgery and refunded my purchase price.&nbsp;&nbsp; If I had submitted this coin to a TPG that offered a guarantee, would they have been willing to place a $38K bet on the coin&#039;s authenticity?&nbsp; Very, very doubtful.</p><p><br /></p><p>The good news is that there is no real reason to slab ancient coins, except for new collectors who will feel more comfortable if the coin they&#039;re buying is slabbed by a respected TPG.&nbsp; Opinions on an ancient coin&#039;s authenticity are better handled by knowledgeable dealers offering authenticity guarantees, and independent experts who will (for a fee) offer their evaluation and opinion of the coin in question.[/QUOTE]</p><p><br /></p>

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