SGS (Star Grading Services)

With recent talk about "questionable" graders like N.T.C., NuGrade, recent P.C.I. and others, here's a reminder for those that shop on ebay and come across MS70 and PR70 coins from SGS (Star Grading Services). Consider the following:

According to the addresses of SGS and the ebay seller, Aboncom, they
are geographically close to one other in the same area of Ohio. There is NO phone listing for SGS and Aboncom has never denied they own SGS or are affiliated as one in the same.

If you leave a negative for this seller, they will waggle their power seller position in your face. Never question the fact they may be selling their own graded coins. Ebay inexcusably believes that SGS is a 3rd party grading company which is no differant than NGC, PCGS, ICG, etc.

Seller's address:

Abon Enterprises (aka Aboncom)
115 Park Ave West
Mansfield, OH 44902

SGS's address:

Star Grading
1610 State Route 60 South
Ashland, Ohio 44805

Here is a map of Ohio...they are down the road from each other!!

http://www.infoplease.com/atlas/state/ohio.html

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Check out one of their recent MS70 posts for this wartime Jefferson Silver Nickel :

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=41088&item=3938680947&rd=1#ebayphotohosting

If it walks like a duck, talks like a duck...

Sure, ebay is claiming they want to clean up coin grading and all coins that are sold "should" represent ANA grading procedures, but I believe this seller is not ethical. Buyer beware...stick with the top four graders and deduct 3 to 7 points for the others.

 

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Not only are they falsely representing MS70 and PF70 coins and flooding the market with them; they use stock photos, their "serial numbers" are all the same [date-proof,business strike-numerical grade], if you send them a derogatory email or leave a neutral or negative feedback you are blacklisted from their bidding list, and they are not members of ANY numismatic group.

They best watch out for misrepresenting 70 graded material as sooner or later a buyer looking to resell at that 70 grade is going to be in for a surprise and SGS is gonna end up in court.

Surprisingly they have a high feedback...

 

And the downside is . . .

Not so surprising with the way feedback works.

 

This is a perfect example of why those of us who know better must share our knowledge with as many people as we can.
Don't wait until it is a friend or family member who just surprised you with their PERFECT coin from some lower tier grading service.

 

Here's an interesting idea: take one of those SGS, MS70 coins carefully out of it's holder. Then submit it to one of the top three grading companys. I wonder what the result would be? Has anybody here done that before? I might just give it a shot.

 

Do any of the grading companies, even the big ones, guarantee their grade?

Say you buy a coin graded MS65 by PCGS and it's current value is $1000 and for whatever reason you have it regraded by NGC and it comes back MS64 and the value at that grade is $750. What would PCGS do if you came back to them and told them you lost $250 based on their grade?

 

They would tell you, I believe, that all grading is subjective, and based upon what they believe is a point system that qualifies for the specific level that they assigned to it, and that opinions of that outcome can, and will, vary...

 

I know that grades are subjective and opinionated, so then why have them professionally graded if no one guarantees their grade?

When people here have posted a coin for grading, even from a picture, I was within a grade or two myself of what other more experienced collectors / dealers were.

 

That's something I have always asked, myself. I suppose it cuts to the quick, and reduces the haggling over who thinks what grade fits (to some extent)... it also helps, again to some extent, from people who aren't as practiced with their grading skills from getting taken by those who would over grade.

I think of it more like college degrees... If I hire a ivy league graduate, and he turns out to be an idiot, I can't go back to the ivy league and get my payroll back... I have to hire the man (or woman) not the paper they hung on the wall of their office.

 

I have always believed that third party grading was originally developed for the "sight unseen" market - in other words for bullion investors. If you neither know, nor care, about the numismatic aspect of your coins, slabbing is a superb idea.

Personally, I buy slabs, or have coins slabbed, solely as part of the authentication process, for high value coins (i.e. $1,000+) .

 

I pretty much just use PCGS due to resale value. I've seen the same grade and denomination coin go for $50 more because of the holder.

Greg

 

I was under the impression the reason you have them slabbed is because you are concerned with their numismatic value. If it is only for buillon value, .999 pure or 24 carat and weight should tell you that, why grade for bullion value?

 

Most of those who know their coins do not particularly care for the slabs. They are a part of the hobby, and do serve a few good purposes. Authentication is by far the number one reason. This was the main purpose in the formation of Anacs in the 1970's. The market grading that we all know today was really a secondary consideration of the services.

 

Wrong, at least in my own case. I slab only to assure a purchaser from my estate that a valuable coin is genuine.

Again, you misunderstood me. People who are "investing" in coins that they buy sight unseen need the assurance of a TPG that they are getting what they think they are getting, particularly if they are investing in high grade specimens that they expect to be worth multiples of bullion value. Besides, simply stamping .999 or 24k* doesn't prove it's so.

IMHO true "collectors" buy the coin, not the slab, and if they have done their homework, they don't need a TPG to tell them what they are buying or holding.

*C arat is a measurement of weight, used for precious stones. There are 156 carats in a troy ounce.

*K arat is a measurement of the purity of noble metals, with 24 being 100% pure.

 

I agree true collectors buy the coin not the slab but I rarely buy a key date coin unless it is slabbed and authenticated as being the real deal.

Authentication is my only reason for sending a coin to be slabbed.

Greg

 

I'll go you one better. Star Grading Service's website is www.stargrading.org

Run that address through InterNic WhoIs and you get:
Registrant Name:Larry Bence
Registrant Organization:Star Grading Service
Registrant Street1:115 Park Ave West
Registrant Street2:
Registrant Street3:
Registrant City:Mansfield
Registrant State/Province:OH
Registrant Postal Code:44902
Registrant Country:US
Registrant Phone:+1.4195225346
Registrant Phone Ext.:120
Registrant FAX:+1.4195226379
Registrant FAX Ext.:
Registrant Email:lbence@abon.com

For www.abon.com information, you have to go through directNIC and you get:

Registrant:
Abon Limited
115 Park Ave. West
Mansfield, OH 44902
US
419-522-5346

Sounds like the third party grading service is a party of 1.

 

Then this guy needs investigated and who would do this? the ANA?

Greg

 

And Ebay wouldn't do anything about it!

 

Looks like feebay is making a fair amount of money from this guy...thats why they will look the other way.

Just my opinion

Greg