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<p>[QUOTE=&quot;lowle harrison, post: 4206042, member: 109950&quot;]Conder101 said: <a href="https://www.cointalk.com/goto/post?id=4204628#post-4204628" class="internalLink ProxyLink" data-proxy-href="https://www.cointalk.com/goto/post?id=4204628#post-4204628">↑</a></p><p>&quot;Slabbing WAS intended to standardize grading, and the thought was to make coins a safer investment by making them fungible and allow for the establishment of a sight unseen market. It failed on all three counts.&quot; which was Mr. Hall and his friends reason for creating PCGS in 1983 was to protect not just their own rare coins but the pubic collections as well. And between them, Ngc and Ebay&nbsp; the stabbers I was referring to were on the next train. For fellow collectors younger than 70, this may be the only time you may ever here about the way collecting was for decades before the TPG bees came to town.&nbsp; Slabbers were basically not crooked but that was business as usual back then in their little niche collecting market worlds. Every coin shop, vest pocket seller etc. bought some type of holder, flip or lucite case to encase coins with their own grades on the holders. They would buy mint proof sets (normal folks didn&#039;t have the money to spend on those type of things)&nbsp; and grade them in house, type up a label and sell them to their&nbsp; customers. When Ebay started these sort of coins were there by the 1000&#039;s. They actually issued a warning giving graders 120 days to meet certain requirements or their coins could not be sold on Ebay with any pictures of mention of a grade. Only Ngc and PCGS were able to meet the requirements, such as a public price guide&quot; and were the ONLY graded coins available on Ebay for quite some time. We all know of the the &quot;times 2&quot; differences in the ngc and PCGS guide pricing.&nbsp; Enter ICG who had a plan to standardize not just the grading but the actual values of grades amoungst the different TPG&#039;s.&nbsp;&nbsp; ICG was by then out-moneyed and eventually&nbsp; sold the company lock stock and barrel. Their grader employees came from the same bolt of cloth that every other coin grader for all companies came from and have their experience and knowledge from on the job training of seeing 100&#039;s of new and/or rare coins day in and day out. The problem arose when all of these private slabs were gone and TPG&#039;s realized how much&nbsp; money was then left on the table greed, and 1990&#039;s business practices led to taking a simple hobby up a notch to an &quot;industry&quot; hence their 1990 FTC complaint. There were still years of unusual tactics going on&nbsp; the &quot;industry&quot; no worse than Bernie Madoffs pyramid scheme and many, many peoples life savings were spent on coin grading to come to now&nbsp; a fake supply and demand issue created by TPG lawyers and directors to have the bottom drop out of the value of a coin graded and, for many years, guaranteed by them. So I am one of those VOGC&#039;s(Veteran of Graded Coins) that lost my life savings on this fiasco. David Hall and the originators are long gone from PCGS decision making and replaced by young gung-ho directors hell bent on profit and could give a crap about a hobby or collectors. And&nbsp; [USER=17567]@frankjg[/USER] that&#039;s what I&#039;m embarrassed of having been associated with such people and so should you. I feel [USER=66]@Conder101[/USER]&nbsp; and @<a href="https://www.cointalk.com/members/gdjmsp.112/" class="internalLink ProxyLink" data-proxy-href="https://www.cointalk.com/members/gdjmsp.112/">GDJMSP</a> know about this, have since recovered and have mastered the new way coins are collected and for what reasons. Had I sold my hoard even 5-10 years ago I would have done OK. But mark my word, 60-80&#039;s coins will be the next wheat penny craze in 5 or 10 more years. Graded shields will all be jet black in their little plastic rv&#039;s and be deemed worthless and the penny itself has very few years left before being obsoleted as a viable coin for the mint to produce. Here are examples of 80&#039;s-2000&#039;s slabber coins[/QUOTE]</p><p><br /></p>

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