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Third party grading

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New Member
United States
6 Posts
 Posted 05/19/2011  6:31 pm Show Profile Bookmark this topic Add WLH1 to your friends list Get a Link to this Message

I am a new member here so first let me say hello to all before I vent.
When grading started it served a great purpose,buy a coin unseen.we now live in the internet age where very detailed pictures can be viewed.
My first problem with grading now as compared to 30 years ago is that both sides of a coin were graded which insured that the coin was inspected very closely,Now I think the companies which make large submissions get favorable grading,i live in sarasota the home of NGC and have meet several graders who have let some of the cats out of the bag.Another issue is first strike and release,production starts long before coins are released so the first coins pressed would be at the bottom of the pile when it comes time to ship.The only first release by the mint would be the first day cover of the pres. dollar.And this in its self still does not mean it is a first strike this is a created label to make money for TPG and dealers.I do have to say I have purchased graded coins that I needed but removed them from there slabs,the only slabs I have are the old photo slabs from ANACS who were one of the first graders,some I submitted and some I have purchased because now these old slabs with photos carry a premium as a part of collecting history.And before someone gets upset yes there are coins I would not by without slabs as there are alot of fakes out there and they are getting very good at it(trade dollars,bust series coins)Hello and Thanks for letting me vent Mitch Hope to talk soon

Pillar of the Community
United States
3563 Posts
 Posted 05/19/2011  7:00 pm  Show Profile Check muddler's eBay Listings Bookmark this reply Add muddler to your friends list Get a Link to this Reply
Mitch, as said often on this forum, buy the coin not the slab. I am glad that I have purchased many of my coins decades ago and am confidant they are genuine. I have learned to be selective in my purchases as to add good specimens and get a good price too. Patience will prevail in this hobby.
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United States
589 Posts
 Posted 05/19/2011  8:17 pm  Show Profile Check reupman's eBay Listings Bookmark this reply Add reupman to your friends list Get a Link to this Reply
i agree all of my slabbed coins are keys there are just to many fakes
Pillar of the Community
United States
1064 Posts
 Posted 05/19/2011  9:36 pm  Show Profile Bookmark this reply Add JackB to your friends list Get a Link to this Reply
It's funny, back in the mid to late 90's, before there were www sites like this, I followed coin News Groups, and a lot of the collectors on those were raving anti-slab folks; "I would NEVER bid on a slabbed coin", etc., so I guess it never occurred to me that there were as many thieves out there, as maybe there are today. Now, it seems the only way to feel good about buying an 'expensive' coin is to get it in one of the top 3 slabs (assuming the whole thing isn't fake). I know, a zillion CCF threads that say know what you're doing before you buy, buy the coin not the slab, all that stuff, but I'm just not that good yet. PLUS, it may be too late for those I acquired back then, and I will post those as soon as I get my photography down (whole nother story)
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United States
14452 Posts
 Posted 05/19/2011  10:08 pm  Show Profile Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
I love sitting down and talking to the guys that collected 30 and 40 years ago because they are the collectors that can teach all of younger collectors a thing or two about this hobby. Back then you had to learn to grade or you got took to the cleaners because just as today with these basement slabbers there were dealers that would call their coins high grade when they were in fact AU sliders. I really wish everyone would still teach themselves to grade instead of collecting plastic but at least the new collectors at least have an "experts" opinion on grade while they are learning so they do not make those thousand and ten thousand dollar mistakes I hear some of the old timers have made before they do learn how to grade on their own. This is of course if they wait and read a little before they decide to buy and do not acquire a big lot of basement slabbers coins in the first year of their collecting. So anyhow I want to welcome you to the forum and hope you will join in and help educate all of us on here that have not been in this hobby near as long as you have as I am sure we can all learn from each other
New Member
United States
6 Posts
 Posted 05/20/2011  05:02 am  Show Profile Bookmark this reply Add WLH1 to your friends list Get a Link to this Reply
Hi and thanks for the welcome I should say again I have purchased slabbed coins but here is the perfect example of why you should know a little something about what you are buying,only after grading around 125 coins the big three companies determined that the 1896,1900,and the 1902 micro coins are ALL FAKES the nice thing is they did refund the money to the people who submitted these coins.They had coins checked and some had more than .77 silver in them this just shows how good the copies are and the people making them are smart enough to do this in a VAM because the average guy knows less about these types of coins I myself am not a VAM person.I may have stated before my passion is the WLH of which the set is complete and has been for about 15 years I now spend my time and money upgrading the coins I would say as a whole the set grades AU50 as iam sure you know the eairly keys and semi keys get very expensive in grades above xf.I have purchased a usb microscope which takes great pictures and when I have them all I start to post some of the coins I have.I do have one more point about TPG about 8 or 10 years ago when conservation started I had a fellow collector submit a coin for conservation and grading and when he got it back cracked it out and sent it back in his cousins name and the coin came back as improperly cleaned. Thanks Mitch
Rest in Peace
United States
9104 Posts
 Posted 05/20/2011  7:03 pm  Show Profile Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply

Quote:
the only slabs I have are the old photo slabs from ANACS who were one of the first graders


Long before slobbing, ANACS was the American Numismatic Association Certification Service. They were actually one of the last graders. They certified that a coin was genuine, and returned it with a lifesize b+w photo that could be compared to the exact coin.
Pillar of the Community
United States
9043 Posts
 Posted 05/21/2011  11:19 am  Show Profile Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
ANACS was one of the last SLABBERS, they were the second graders (Barely beat out by INS. Not the same INS you see slabbing today.) ANACS began Certifying in April 1972 and grading in January of 1979 as a temporary six month experiment that never ended. They didn't start slabbing until about December of 1989.
Rest in Peace
United States
9104 Posts
 Posted 05/21/2011  1:38 pm  Show Profile Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
IIRC, even long after they started slobbing coins, grading was a no-charge option. As a practical matter, most folks had them grade the coin while certifying it.
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