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 Replies: 37 / Views: 4,940 |
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Valued Member
United States
152 Posts |
I see nothing wrong with the one he graded with ICG, but the self slabbed one is just wrong.
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Bedrock of the Community
United States
10982 Posts |
Interesting that ANACS only netted the 1795 Eagle from AU to EF40, indicates the problems were relatively minor. ICG then assigned a grade of 45. ICG is not a serious player at this level of coin.
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Pillar of the Community
 United States
7375 Posts |
Quote:
I see nothing wrong with the one he graded with ICG Unfortunately, I do see something wrong with it. He cracked out a problem coin, and sneeked it by an inferior TPG. If there wasn't a pattern of deception, I could look the other way one time, but not with this guy. Up to 19K  |
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Valued Member
United States
152 Posts |
I have cracked out NGC coins and resubmitted to NGC. A plain 1911 $2 1/2 regraded a 1911-D. I put more stock in ICG opinion than his own self slab opinion.
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Pillar of the Community
United States
7375 Posts |
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Pillar of the Community
United States
591 Posts |
Very interesting topic. Just want to get some clarification here, aside from the potential fraud component. My understanding is there are four generally reputable services: PCGS, NGC, ANACS, and IGC. So the original coin is in a "NCS" holder and they deem the reverse as "repaired". Well, why are we putting any stock in this? What the heck is repaired anyway? Can anyone here discern an issue with the coin's integrity? If not, who's to say what it's value is. So why do we care what "NCS" says about it? I would want to crack it out of there too with that kind of "details" baloney. Also, it is total caveat emptor with this coin being in this guy's own personal holder. He can put any "name" on his holder that he wants. The buyer should know better at these prices - meaning these holders are no different than no holder, right? Quote:Unfortunately, I do see something wrong with it. He cracked out a problem coin, and sneeked it by an inferior TPG. If there wasn't a pattern of deception, I could look the other way one time, but not with this guy. So you are convinced it was a problem coin, just because NCS says so? That is one opinion. He has every right to crack it outta there. caveat emptor. This is a lot of money, so buy raw or from inferior TPG and risk losing numismatic value (if he cannot sell down the road), or buy in a top TPG'er slab. Edited by one_fine_dime
02/11/2016 10:02 pm
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Pillar of the Community
United States
7375 Posts |
The original coin was regraded by NGC and it came back with the same repaired details. I'm all for caveat emptor, but that doesn't negate a pattern of deception and an intention to deceive.
Edited by edweather
02/12/2016 12:23 am
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Pillar of the Community
United States
591 Posts |
Ok, my bad, I see that NGC now.  Can anyone see what repair they are talking about? Wasn't trying to defend this guy in the least, just was confused as to why third rate TPG's are being given a lot of stock. Edited by one_fine_dime
02/11/2016 10:13 pm
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Valued Member
United States
152 Posts |
NCS is a part of NGC. So basically, it was a NGC problem coin.
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Bedrock of the Community
United States
12057 Posts |
The original seller attempted to see if NGC could conserve the coin with the damage to the reverse. NCS was not able to completely repair it, and so it earned an Unc Details designator. To follow: Known scam artist / basement slabber takes Unc Details gold coin, puts it in one of his basement slabs as "MS63+" and ends up suckering someone into paying way too much; that buyer then cracks the coin out of the "NNC" basement slab, and sends it to an actual TPG, who inform him of the damage/details grade...and he has to sell it at a large loss. I'm no lawyer, but I bet that since grading is subjective, I don't think he has any liability for pulling his scam on hundreds of victims a month. Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
United States
591 Posts |
That helps. Why does NGC have another arm? What's that all about?
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Bedrock of the Community
United States
12057 Posts |
NGC offers conservation services to attempt to restore damaged coins.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
United States
7390 Posts |
Had anyone messaged LegalEagle with a link to this thread yet?  |
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Pillar of the Community
United States
595 Posts |
I have been seriously thinking about it.
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Pillar of the Community
 United States
4596 Posts |
Quote:
Why does NGC have another arm? What's that all about? Numismatic Conservation Services (NCS, http://www.ncscoin.com/) is owned by Certified Collectables Group http://www.collectiblesgroup.com/) as is NGC. They also own CGC and it's conservation company CCS for comic books. And PMG for paper money. There is close cooperation between the conservation service and the grading service, in fact right now NCS is the 2nd from the left link on the NGC home page ( https://www.NGCcoin.com/). And there is an entire conservation section on the NGC website, it does not link back to ncscoin.com. NCS coins used to be holdered in an NCS holder, at some point they began transferring the conserved coins to NGC for NGC holder (both clean - if the conservation is successful - and details). Depending on which service(s) you choose, the NGC grading is extra or included ( https://www.NGCcoin.com/ncs-conservation/):Quote:
The following fees are for direct submissions to NCS Headquarters.
NCS offers three simple conservation tiers:
1. Standard Conservation #9702;5% of Fair Market Value (FMV) ($25 minimum)
#9702;NGC grading fees and services are additional
#9702;If NCS believes that conservation will not benefit a coin submitted under the Standard Conservation tier, it will be transferred to NGC for grading and only the NGC grading fees will apply.
2. Modern #9702;$50 flat fee
#9702;Includes NCS conservation and NGC grading
#9702;Raw coins struck 1970-date only
#9702;Excludes coins requiring an NGC Oversize Holder
#9702;5-coin minimum, $2,000 maximum value each
3. Modern Value #9702;$28 flat fee
#9702;Includes NCS conservation and NGC grading
#9702;Raw coins struck 1970-date only
#9702;Excludes coins requiring an NGC Oversize Holder
#9702;5-coin minimum, $300 maximum value each -----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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Posted 02/10/2016 11:29 am
