Poll: Do you think SGS is owned and operated by aboncom?

Discussion in 'US Coins Forum' started by Isaiah, Dec 14, 2008.

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Do you believe SGS is operated by the eBay seller Aboncom?

This poll will close on May 1, 2036 at 12:01 PM.
  1. yes

    29 vote(s)
    96.7%
  2. no

    1 vote(s)
    3.3%
  1. Isaiah

    Isaiah New Member

    There have been many rumors about SGS, but what do you think? does the eBay seller who is in thew same area as SGS and sells thousands of SGS coins, actually own and operate SGS as is believed by many? I would love to know your thoughts. Also please explain below. Thanks so much!
     
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  3. FreakyGarrettC

    FreakyGarrettC Wise young snail

    Yes I do. I have never seen anyone else sell SGS unless they bought it and are trying to get rid of it.
     
  4. Isaiah

    Isaiah New Member

    I just added it.
     
  5. Isaiah

    Isaiah New Member

    you all have plenty of time. This poll will not be closing for another 36 years.
     
  6. Isaiah

    Isaiah New Member

    400th post! Anyway the results so far are pretty much what I expected. Please explain your thoughts. I'd love to know!
     
  7. hontonai

    hontonai Registered Contrarian

    There have been numerous postings by people who are into tracing website ownerships, etc., demonstrating that both Aboncom and SGS are the same entity. Do a forum search on SGS and among the dozens and dozens of posts you will find, will be the ones I'm referring to.
     
  8. Frankcoins.com

    Frankcoins.com Junior Member

    PCGS - common ownership with David Hall Rare Coins
    NGC - 25% owned by Heritage
    ICG - 100% owned by National Gold Exchange
    DGS - 100% owned by David Lawerence Rare Coins

    They are all reputable services, but could all be considered "self slabbers"

    SGS seems to take modern proofs and "nice" recent mint state coins and grade them 70. The coins sell for a few dollars. There are much more important issues to fight, such as unmarked fakes from China and fake slabs.
     
  9. Indianhead65

    Indianhead65 Well-Known Member

    Yes, I agree, but just the same as people are being ripped off by purchasing coins from China, slabbed or not, there are people that are being scammed by this company, Aboncom (SGS), that are overpaying by the hundreds of dollars because of coins that are graded MS70 which are lucky to have an actual grade of no more than an MS65. There's no doubt that both issues are a major problem in our hobby. This is why its important to educate yourself before you spend alot of money on a coin.
     
  10. Isaiah

    Isaiah New Member

    ditto.
     
  11. Isaiah

    Isaiah New Member

    I wonder who voted no. If it was you, could you explain?
     
  12. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    This shouldn't be a poll since the correct answer can be established by fact. Opinions don't count.
     
  13. Hobo

    Hobo Squirrel Hater

    True. But it sure beats resurrecting 8-year-old threads.
     
  14. CamaroDMD

    CamaroDMD [Insert Clever Title]

    He speaks the truth. :D
     
  15. Arizona Jack

    Arizona Jack The Lincoln-ator

    SGS and Abon is owned by Larry Bence in Ohio. No secret.

    Welcome to the site Frank, it's a great place to hang out as well.
     
  16. Phoenix21

    Phoenix21 Well-Known Member

    I disagree. Where they are owned by one person (except NGC), they don't have the same person grading each and every coin (or the same couple people I guess.)

    Phoenix :cool:
     
  17. Conder101

    Conder101 Numismatist

    PCGS does not have a single owner. It is wholly owned subsidiary of a publicly traded company. So it is owned by the stockholders. Of course a significant percentage of that stock is owned by a few large dealers including David Hall. This differs from NGC which is a privately owned company with all of the stock basically in the hands of the board of directors and unavailable to the general public.
     
  18. Frankcoins.com

    Frankcoins.com Junior Member

    Can you post some examples where someone has overpaid hundreds of dollars for an SGS coin?
     
  19. rlm's cents

    rlm's cents Numismatist

  20. NPCoin

    NPCoin Resident Imbecile

    Not to play devil's advocate here, and most here know my professional opinions on SGS, but let's not just find anything listed with SGS/Abon and down play it.

    This link is actually one of the few instances where the closing price is consistent with the actual coins in question. The closing was $15.65 per piece, shipped to the buyer. That is quite consistent with the current dealer-to-dealer ask prices for ASEs, and with a handy holder to boot.

    A pair of pliers and a towel, and the winner of that auction may very well realize a profit within a few weeks...and all that without ripping anyone off!

    And I would not simply hold this to just SGS, but to any third or first party grader, including any raws, whether in a brick and mortar or on the internet: Do not buy what you do not know! If you need a learning experience, buy a good book on the subject.
     
  21. Indianhead65

    Indianhead65 Well-Known Member

    Thanks for the examples rlm. I can also find more if you like. Most of us know that the value differences between an MS69 and an MS70 can differ by a few hundred dollars at the very least. All it takes is a crooked grading service (SGS), a crooked seller (Aboncom) and an undereducated coin collector, which unfortunately there are pleny of. Put that combination together with say, 100,000 overpaying buyers per year and you've got a million dollar company, they wouldn't still be around if they were losing money.
     
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