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<p>[QUOTE=&quot;NPCoin, post: 357152, member: 5629&quot;]If you walk into a brick and mortar establishment, or even an online store, and peruse the inventory and find something you like and buy it...is the dealer implying authenticity of the coin by selling it?&nbsp; It is criminally illegal to sell counterfeit coins.&nbsp; Certification in and of itself means absolutely nothing, even from a TPG.&nbsp; The only thing a coin in a TPG may offer is some form of indemnity if the coin has been found to be counterfeit.&nbsp; Even that has not been proven in case law, as far as I know.</p><p><br /></p><p>Now, if you purchase a coin from a dealer, you are assuming authenticity.&nbsp; If you purchase a coin raw from eBay, you are assuming authenticity.&nbsp; If you purchase a coin in any form of slab, you are assuming authenticity.&nbsp; Why?&nbsp; Because it is illegal to sell any coin otherwise.</p><p><br /></p><p>Now, of course, the unscrupulous in the industry could give a hoot about the law or any semblance of ethics.&nbsp; But, authenticity is an implied fact in any coin deal, unless otherwise stated explicitly.</p><p><br /></p><p>Now, as regards to pretense of certification.&nbsp; Certification is simply a written contract where an individual or entity makes claim that tangible property (such as coins), or intangible property (such as knowledge, ie IT Certifications) meet a specific standard of authenticity or level of performance or condition.</p><p><br /></p><p>Why would the U.S. Mint send a Certificate of Authenticity with their products?&nbsp; The proof set is in the U.S. Mint branded plastic, were minted at the mints designated on the coins, and a C.O.A. can be more than easily duplicated and faked anyway.&nbsp; So why include it?&nbsp; Because it is the legal contract of certification, stating that the product is indeed what it claims to be.</p><p><br /></p><p>A PCGS graded coin in its slab does not come with any certification papers.&nbsp; You buy the PCGS slab off of eBay, and you are purchasing the coin with an <u>IMPLIED</u> pretense of certification.&nbsp; The certification is never explicit without a written contract.&nbsp; The written contract for PCGS graded coins is presented on their website.&nbsp; But, this could change at any moment.&nbsp; And when it does, it overrides any previous version of the contract.&nbsp; So, at any given point in time, PCGS could very well decide that there will no longer be any &quot;certification&quot; on any previously graded slab by simply removing all references to any certification from their website.</p><p><br /></p><p>SGS/Aboncom, on the other hand, sends an actual written contract (C.O.A.) with their slabs identifying the coins covered by the C.O.A.&nbsp; This contract cannot be arbitrarily changed like the NGC/PCGS contracts.&nbsp; In no way am I condoning what SGS/Aboncom is doing (as many of you well know my position on that company particulary), but, their conduct of supplying a tangible contract stating Certification speaks more volumes in my book than an arbitrary internet based contract like NGC/PCGS.</p><p><br /></p><p>Then again, whether online or on a piece of paper, that certification is only worth as much as their reputation in the community.&nbsp; The same goes for brick and mortar dealers.&nbsp; There are good dealers, and there are bad dealers.&nbsp; Yet, should we pile up every dealer into one basket and throw them all out because a majority, no matter how vast it is, is crooked, over-priced, and deceptive?</p><p><br /></p><p>If not, then why do it to other parts of the industry?&nbsp; Like I said before, &quot;self-slab&quot; is not necessarily &quot;bottom-feeder&quot;, and there are &quot;bottom-feeders&quot; even amongst other niches in the industry including brick and mortar dealers.</p><p><br /></p><p><br /></p><p><br /></p><p>AGREED!&nbsp; However, that is not to say that the explicit conflicts of interest we see in the TPGs are any better.&nbsp; Deception is deception.&nbsp; Transparency is preferred.&nbsp; The way I view it, I do not care if it&#039;s a brick and mortar dealer, a &quot;self-slabber&quot;, or a TPG, if they are not transparent in their involvement in the actual market (buying and selling of coins), then they are all in the same class together.&nbsp; If they are transparent, as long as it is known and explicitly stated, then they are good to go in my book.</p><p><br /></p><p>What about over-grading?&nbsp; Again, another issue.&nbsp; Grading is subjective...period!&nbsp; We will never have a completely objectively technical grading standard that is workable.&nbsp; There are too many subjective factors involved in determining the overall condition of a coin.&nbsp; I believe GD already has a thread dedicated to this subject which I have opted myself out of for good reason. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" />&nbsp;&nbsp; If you think these posts are long, you do not want to see my dissertations on grading.&nbsp; Besides, that would just move GD to write a rebuttal dissertation.&nbsp; :hug:</p><p><br /></p><p><br /></p><p><br /></p><p>Exactly the point!&nbsp; On the secondary market, whether &quot;slabbed&quot; or &quot;carded&quot;, anybody can put anything on the container to make the sell.&nbsp; That is why educating ourselves and others is so very important.&nbsp; There are going to be those that take the instruction lightly or even indignantly and continue paying over &quot;acceptable&quot; prices for below &quot;acceptable&quot; coins, some will complain, some will be completely happy.&nbsp; And some will grow in their knowledge and begin to scrutinize everything from anyone and join the community of skeptics and cynics who call themselves &quot;coin collectors&quot;!&nbsp; (not to say that all coin collectors are skeptics and cynics, but...)[/QUOTE]</p><p><br /></p>

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