SGS (Star Grading Services)

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I'm sorry - I know this is off topic - but Benevolus, what is your avatar. It's really neat-looking!

 

I think its one of the gold coins from pirates of the caribean ( spelling )

can we get a spell checker for the forums

 

Thank You

Not paying enough attention, I placed a bid on a SGS coin. When I noticed the SGS mark I googled "SGS COIN" and this forum was the top hit. Thank you all for the information. Knowledge is the most precious commodity.

 

Another collector saved from SGS Coin and Aboncom courtesy of CT.

 

It's a good thing that Ed Zak guy "used to" post here since this is the thread that brought me here as well.

 

Does the lack of a grade guarantee [or anything else] make ANACS a company to avoid when buying slabbed coins? I have a couple of their coins.

 

No, ANACS is one of the big 4 in TPG's and their grades are pretty well respected. In fact, it is my understanding that some series bring better money when graded by ANACS since they are particularly conservative on some coins.

 

SGS is selling numerous cheap MS69 Kennedy's someone should buy one and send it to NGC to get graded. Heck I'd chip in $5.00 just to have proof.

 

SGS has a few saint gaudens up grading them at ms 63-65 which match some of the highest grades out there. These coins are not any where near au55. He has some more coins and prrofs but I would not waste my time with it. Save your money for some real nice BU coins. Also GGC (Gallery Grading Company) on ebay (jojax22) DO NOT BUY FROM HIM or (aboncom).

 

Dont waste your time with anything but PCGS or NGC. Those are the only two you wont lose money on.
The dealers and big collectors dont trust any other slabs from any other grading companies. And try to stay away from unslabbed coins unless you pay AU price, or MS-60. You cant trust grades on unslabbed coins. The dealers grade low when they buy from you, and jack up the grades when they sell. You have to be very careful. On EBAY buy PCGS slabs. On ebay buy NGC slabs. DONT buy anything else on ebay. Theres too many grades. this old theory that it takes hundreds and thousands of coins to pass in front of your eyes to be a good grader is bull****. Only the grading companies see that many coins, and they overgrade for their best customers. The hobby needs more specific standards for each grade, and less grades of mint. There should be clear concise grading rules, so that even a five year old could grade coin.

 

I agree

 

But there lies the problem as one TPG's version of MS63 is NOT the same as the next TPG, or even graders that work within the same facility!

SGS is no more a grading service than you or I writing MS70 on a stapled 2x2. They are owned and operated by the eBay powerseller Aboncom, who preys on newbies selling their "America's Grading Company" garbage.

Want to have some fun? Send an eBay email to recent winners of Aboncom's auctions telling the winner that the "certified" coin they won has been "certified" by the very seller running this auction. Boy did I ruffle some feathers, but the more the word is out, the better for the hobby.

Send something like this:

"FYI...the coin you won has been certified by the same people that are selling this coin. There is nothing '3rd partied' about this as both SGS and Aboncom are owned and operated by the SAME principles. Don't believe me? Google SGS Coin and find out for yourself. Good luck."

 

Follow Up

That coin you guys saved me from buying (ebay Item number: 8323421951) eventually sold for $43.00. That is 4,300 times its true value. How is this being allowed to go on? Can anyone say fraud!!!

Ya know, it only takes two injured parties to come together for a class action suit.

 

I just got a 4 piece lot of PCGS 2005 satin finish nickels. They came graded as MS66SF. One of them has a brown spot on the coin and another has smudging. The other two are nice enough.

I have bought some of the SGS graded coins for 1/3rd to 1/4 the price of PCGS graded coins. They all have been nice coins--probably not what they were graded at, but very nice.

In the end doesn't one pay for the coin not the grading? Abon is grading his own coins. Isn't that what coin dealers and collectors have been doing from the beginning? The problem with ebay is that you can't really look at the coin before buying so you do have to rely on reputation (feedback) of the seller.

Saying all this, I'm thankful for the comments on this site about SGS which have been a good warning about the possible quality of the coins. But a name grading company is no assurance that the coins are at the graded level.

Midas is right in pointing out the variance between not only grading companies but graders within the same grading company.

 

There are a lot of people leaving positive feedback, even though they left comments questioning the grading system. I guess these people don't care about truth in advertising.

 

those people care about their own feedback ratings. Aboncom witholds feedback untill the buyer posts his feedback. That way if the buyer leaves a neg then Aboncom can punish him for not being satisfied. Buyers understand and they figure that they can leave a positive feedback that contains a negative comment and the people careful enough to view the actual comments will get the picture.

 

Yes I have 2 SGS slabs I got so I could see for myself how they made them and what they are graded....SGS is not going to put in coins that have spots and such because they want everyone to think that it is PF70--the coins ARE NOT PF70...if they were collectors would be paying much more for the slabs...as it is now more of the coins they sell go to people who want to invest in rare coins without reading or doing any work...or it goes to people who don't know a thing about coins...just heard that PF/MS70 were good coins so they search for it and buy the first coin they see.

Speedy

 

I didn`t even bother reading all the previous posts. I think I responded a while ago.
SGS= Self Grading Service. Aboncom. A fake grading service. Not even close to the other loser 3rd tier graders like NNT and NNC.......