Message:

<p>[QUOTE=&quot;NPCoin, post: 356614, member: 5629&quot;]Like all TPGs, yet another cash cow.&nbsp; Irregardless of the practices of any other third party grader, money for nothing is exactly that.&nbsp; Yet, another reason I do not accept the practices of the varied third party graders.</p><p><br /></p><p><br /></p><p><br /></p><p>Wholesale flips bought in true bulk run approximately $0.008.&nbsp; That means that sending them a 2007 mint set in the OGP is gonna cost you an additional $28?&nbsp; When they are already raking in $280 in the submission itself?&nbsp; The cost of the flips themselves is less than $0.25, and the coins would take only 15 minutes to transfer from the packaging.&nbsp; And the minimum charge per invoice is $10!!&nbsp; That puts the hourly charge for transferring single coins from OGP to flip at $300/hour, or roughly the same price as the grading itself!</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>Basically, what you are really paying for is simply authenticity on a large variety of the coins you send in...since they are automatically exempt from any &quot;grading guarantees&quot;...that is until they end up with the wrong person ****ed off who bought the slabbed coin third/fourth/fifth party under the understanding that the grade was representative of the coin, and losses BIG!&nbsp; A person with too much time to spend with FTC officials and AGs is a dangerous thing to have breathing down your neck.</p><p><br /></p><p>Even NGC does not offer a &quot;grading guarantee&quot;, if I remember correctly, yet, this simply shows again, that third party graders are really only good for authenticity...the grade is simply the sugar pill to make you feel good about the whole deal.</p><p><br /></p><p><br /></p><p><br /></p><p>It&#039;s a good thing to know that they are keeping their eyes out for unauthentic and artificially toned and dipped coins!&nbsp; It&#039;s always nice to have a good guy on your side keeping the market free and clear of undesirables...or are they?</p><p><br /></p><p><br /></p><p><br /></p><p>Ah, yeah...looking out for the big &quot;ME&quot;!&nbsp; Heaven forbid that you should buy a coin and send it in to make sure the whole thing was kosher to begin with.&nbsp; Better keep those receipts and eBay/PayPal printouts for a VERY LONG TIME!&nbsp; Because you should have known better and should have authenticated and verified the genuineness of your purchase before sending it in to be *professionally* authenticated and the genuineness verified!&nbsp; Keep a good detailed tracking of every coin you have ever bought and submitted to this company, because one day, they may just decide to drag you into court to pay for their own incompetency.&nbsp; Can anybody say E&amp;O?&nbsp; There&#039;s errors and omissions insurance for a reason.</p><p><br /></p><p><br /></p><p><br /></p><p>Most assuredly, they have a right not to deal in counterfeit coins.&nbsp; They should not have to refund any portion of your submission costs either if a coin has been found to be counterfeit.&nbsp; However, if, in their own incompetency, they cannot agree as to a grade, or as to the authenticity, because they cannot at that point even &quot;prove&quot; legally authenticity, then they should not have any right to any portion of your submission costs because they have not performed the PRE-PAID for services.</p><p><br /></p><p>Just because you submit a coin to a company does not give them a right to profit nor even to absolve themselves when they cannot make a decision.&nbsp; There are ramifications both if they claim a legitimate coin as being counterfeit, just as much as a counterfeit coin being legitimate.&nbsp; </p><p><br /></p><p>This is what the third party graders are in business for!&nbsp; And this is primarily what I have against third party graders.&nbsp; Not only do they expect you to already have authenticated your coin, but to bear the costs when even they are not able to agree upon the authenticity.&nbsp; Authentication is the only true objective service that they offer.&nbsp; Everything else is paying for consulting services.&nbsp; I can see having to pay for a coin that was submitted and turned out to be counterfeit.&nbsp; That&#039;s the objective service you were paying for.&nbsp; I can see having to pay for a coin that had been doctored, that&#039;s the service you are paying for.&nbsp; I cannot for the life of me seeing having to pay for a coin submitted that they are UNABLE to make the objective determination that you paid for.&nbsp; They did not provide the service!</p><p><br /></p><p>I cannot off the top of my head think of any other industry where it is acceptable to pay for a service that is never rendered.&nbsp; Body bags?&nbsp; No problem...so far as the authenticator was correct.&nbsp; Counterfeit?&nbsp; No problem...just get the proper documentation and drag the seller of the coin into court.&nbsp; Can&#039;t seem to agree, or even outright incompetence...THERE is a problem.&nbsp; No service, no pay!&nbsp; Threatening your clients with legal action for problem coins when they are paying you to make the objective determination if the coin has problems or not...BIG problem! </p><p><br /></p><p>If you pay a consultant in any other industry, especially real estate and stocks, non-disclosure that later has negative reprocussions are absorbed by the consultant.&nbsp; In some cases, the client would be the one coming after the consultant legally!&nbsp; And the numismatic industry has been having these real estate and stock investors trickling into coins over the past few years and these investors are used to that form of shark feeding.&nbsp; How big of a hole are the TPGs really digging for themselves?</p><p><br /></p><p>Finally, I have a REALLY BIG problem with the following:</p><p><br /></p><p><br /></p><p><br /></p><p>Kind of nice to know that YOU are paying for the company to profit even more by no longer needing to pay royalties to use someone&#039;s coin or photos in their books, publications, and advertising.&nbsp; Why, they are going to make even MORE MONEY by reselling YOUR coin&#039;s image to others for a royalty or fee.</p><p><br /></p><p>Cash cow...money for nothing...if eBay sellers are able to rip off the coin community, why not us?&nbsp; I hold, TPGs are good for VERY LITTLE in the numismatic community.&nbsp; What they provide cannot even come close to comparing with what a good dose of knowledge, education, and research can do.</p><p><br /></p><p>Oh, and before I finally shut up and get out of here, their &quot;photo authenticity&quot; is &quot;free&quot; for coins valued over $100...think about it...you are STILL paying for the service by paying for the higher tier.&nbsp; With all the fuss about truth in selling with eBay sellers, it would be nice to have more transparent truth in services from our own backyard vendors.&nbsp; Free is free...hiding the charges in &quot;tiers&quot; is nothing less than advertising a wheat roll with a V.D.B. showing.</p><p><br /></p><p>That&#039;s not to say they are &quot;good for nothing&quot; though.&nbsp; Sometimes you can find a real good &quot;deal&quot; because of the widespread TPG propaganda and unknowledgeable sellers and buyers.&nbsp; But is it really worth having &quot;clowns to the right of me, jokers to the left&quot;?[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in