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 Replies: 10 / Views: 1,996 |
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Valued Member
United States
421 Posts |
I've noticed a few coin shops getting there coins graded by icg and asking full prices for them, has anyone seen this happen.
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Pillar of the Community
United States
2280 Posts |
I've never seen any coin shop asking full prices for ICG.
If they are, I'm sure the price is very negotiable.
If not, that coin shop is delusional and I'd stay away.
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
Edited by NumismaticsFTW
06/08/2023 10:48 am
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Pillar of the Community
United States
1648 Posts |
Hi Matthew23, there was a good discussion about this on the NGC forums in 2019 you can read here https://boards.ngccoin.com/topic/41...id-for-them/ICG is inexpensive and fast. https://www.icgcoin.com/2023/04/18/about-icg/ However dealers who use them if that is the case, I would agree might need to be flexible on the for sale pricing based only on some of what has been posted such as in that link as one example. Typically people seem to prefer PCGS next NGC and then ANACS slabs, although for low value, modern coins or errors/varieties Anacs is certainly a good low cost option to consider, or NGC for those just getting started due to costs or dont regularly submit coins or dont deal with those high value coins. Edited by datadragon
06/08/2023 11:01 am
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Valued Member
 United States
421 Posts |
I agree 100% I've read the thread posted above before, they act like it's the same grading like ngc and PCGS I don't agree that they are the same and they should be discontinued.
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Pillar of the Community
United States
1751 Posts |
Buy the coin and not the holder. I have 2 ICG graded coins that I am very confident in the assigned grade. Generally speaking, I will look closely at ICG graded coins to ensure I agree with the grade.
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Pillar of the Community
United States
4680 Posts |
 holder is a bit irrelevant. That said, there are a good number of over graded coins in ICG holders. If a shop chooses to take the slab grade at face value and price retail, that's on them, best of luck to that business model as it might take a bit longer to sell, if they sell at that price. The one's graded "properly" (subjective), will go quicker. I have bought several coins in ICG holders, ignoring the grade, based solely on the coin. I will say that I did agree with the grade in these few instances, and was able to get them at a lower price than their PCGS/NGC counterparts. They were all cracked and sent to either PCGS and NGC where they all graded what the ICG grade was. Neither of the two LCS I go to regularly send to ICG, but as stated, they're cheap and quick. For that though I'd much rather go ANACS. |
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Bedrock of the Community
Australia
21786 Posts |
Apparently ICG is offering really cheap rates for bulk lots from dealers.
This may be their way of increasing market share.
What effect that may have on the slabbed coin after market remains top be seen. Some here in the CCF have already suggested that softer and more negotiable selling pricing is possible.
I like the mantra:
"Buy the coin, not the holder". - for me, that applies to all slabbed coins.
I like to grade for myself, but allow the slab grading to sometimes be a guide.
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Valued Member
United States
465 Posts |
I have a few ICG graded coins and dozens of PCGS and NGC graded coins. I think ICG grades on par with the others. That being said mine are all Morgan dollars and I also buy the coin and not the holder no matter the company. I appreciate ICG will designate qualities like "obverse deep mirror prooflike" while the others will not. |
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Pillar of the Community
United States
5825 Posts |
About 10/15 years ago ebay required that no seller could use a TPG's name/initials in a listing unless the TPG had a searchable online database of all the items that the TPG had graded. PCGS and NGC were in good shape because they had been maintaining such a database all along. ANACS and ICG had to do some serious scrambling to upgrade their database and managed to do the upgrade. That's why they can be listed. SEGS and PCI were reasonable TPG's but didn't have nor did they create such a database. Hence they could not be used in ebay listings. So they folded shop and those slabs are rarely if ever seen. And for that reason there's a boatload of other TPG's that no longer exist. |
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Pillar of the Community
 United States
4587 Posts |
Kanga I think you are vastly simplifying SEGS and PCI. ebay's policy change was in early 2008. Both companies were in major transitions and were unable to meet ebay's standards. In 2008 SEGS went from Sovereign Entities Grading Service Inc. to SEGS Inc. which later became SEGS LLC. After that transition, they no longer honored the guarantee of the former company. Much later, Larry left SEGS although the site has not been updated. PCI closed in 2008 and the assets were sold to David Lawrence Rare Coins who opened it as Dominion Grading Service (DGS) in April 2008 and closed it in August 2010. PCI reopened as a fraudulent FPG in 2011 +/- ... they were convicted in Federal court of defrauding a LOL who bought vastly overrated coins allegedly TPG by PCI, but in fact not. The treble penalties for RICO were overturned on appeal (but not the facts of the fraud). They reopened in late 2012, although who owned them was murky. They seem to be gone now. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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New Member
United States
5 Posts |
I have purchased ICG Certified coins and In all cases have lost money. I overpaid- my rookie error. I stay away from ICG
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Replies: 10 / Views: 1,996 |
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Posted 06/08/2023 11:00 am
