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Overgraded 1941 1c Only $3999 Usd

 
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Author Previous TopicReplies: 9 / Views: 843Next Topic  
Valued Member
United States
127 Posts
 Posted 08/09/2022  8:57 pm Show Profile   Bookmark this topic Add TheColorofMoney to your friends list Get a Link to this Message
Not my coin. Absurd ask even if it was MS66RD.

https://www.ebay.com/itm/313333965469

Edited by TheColorofMoney
08/09/2022 9:05 pm
Pillar of the Community
United States
2261 Posts
 Posted 08/11/2022  8:28 pm  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply
Just out of curiosity, why do you post these examples of "overgraded" coins?
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United States
71578 Posts
 Posted 08/11/2022  9:07 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Mr. jacrispies, what is the harm in these threads? I rather enjoy them!
Valued Member
United States
127 Posts
 Posted 08/11/2022  9:10 pm  Show Profile   Bookmark this reply Add TheColorofMoney to your friends list Get a Link to this Reply
jacrispies

Your question, in turn, piques my curiosity as to why the attempted discussions of over-graded coins is not self-explanatory ?

Then there is the matter of the high ask price on top of an over-graded coin.

It's just for general discussion. Are these topics not welcome here ?

If such discussions are not wanted here, then I shall cease my posts.
Edited by TheColorofMoney
08/11/2022 9:38 pm
Pillar of the Community
United States
2261 Posts
 Posted 08/11/2022  9:45 pm  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply

Quote:
Mr. jacrispies, what is the harm in these threads?


Quote:
Are these topics not welcome here ?

I did not make any mention to these threads being harmful, nor unwelcome. I am simply curious as initially mentioned. I was not sure if there was a bigger picture, like an anti-TPG message or further market grading opinions. Keep posting them, they are learning experiences for many, including myself.
Valued Member
United States
127 Posts
 Posted 08/11/2022  10:01 pm  Show Profile   Bookmark this reply Add TheColorofMoney to your friends list Get a Link to this Reply
jacrispies

I suppose if there is an agenda it is to discuss some of the industries leading problems such as:

1. TPG never fixed the problem it was intended to fix (e.g. TPG never created accurate grading, it never created the universally agreed upon standards it promised)
2. TPG created new problems (e.g. grade inflation)
3. Greed

This does not even cover the ever-increasing trend to "up-charge" for every little nuance or thing on a coin (collectibles in general). Hypothetically, for example, a dealer finds a coin with undocumented minor DDO and it is in high condition, sends it off to TPG and it becomes the only one certified - and BAM ! - $40,000 ask price. Meanwhile at auction the thing might sell for only $400.

Then there is the splitting of hairs now for grades. At first there was just "PQ." Then the star and +. Next beyond + is ++ and then +++. Who knows what is next?

Then there is stuff like "Look at my $150,000 worth of MS70 this or that - and they're not worth anything what I believed they were."

How about "I can grade and all that matters to me is the coin itself?"

lol

It's just general discussion stuff.
Edited by TheColorofMoney
08/11/2022 10:04 pm
Pillar of the Community
United States
2261 Posts
 Posted 08/11/2022  11:46 pm  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply
I agree 100%. Coin collecting has turned into a game of highscores. People automatically buy what the label says, and are willing to pay extra for the plastic.

I personally don't understand the craze, avoid TPGs, and mainly deal in raw coins. Actually I just purchased my first TPG graded coin (in the mail), and will most likely end up cracking it. That way I can handle my coin and study it close up. Knowledgable coin collectors and dealers should be able to ignore the plastic and use their own experience to evaluate a coin. Too many people are buying the label!!
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Canada
4455 Posts
 Posted 08/12/2022  09:02 am  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
In 40 years of collecting, mostly Vicky large cent minors, I have never bought a certified coin. I don't pay for paper or plastic. I have 2 certified coins, both that were part of a larger (5-10) of raw coins and my, or the sellers, eyes agreed with the grade. I DID send in a coin to grade as the first certified DP#5 when we included it in the 2011 Charlton guide to varieties. Once ICCS graded it, then it was recognized by CCN and included in Trends.

As far as the OP post, I think that they are great learning experiences for newbies or even seasoned collectors to see how the TPG's differ on Canadian coins and the grade creep for the last 7-8 years. As was mentioned above, the number on a piece of paper means nothing other than one-upsman ship .... ha ha, my coin is better than yours. The only exception to the "no paper or plastic" rule is if the coins are for sale after the collector passes or just wants to sell it. The OP is also a perfect example of never having your Canadian coins graded by NGC.
Valued Member
Canada
138 Posts
 Posted 08/12/2022  10:55 am  Show Profile   Bookmark this reply Add Levaril to your friends list Get a Link to this Reply
In my opinion NGC is the worst of the lot. It's always a bit of a crap shoot to buy a TPG coin without holding it in hand, but that is doubly so for NGC.

Some Canadian buyers will swear by ICCS, but they are much more inconsistent in how they apply their grading rules in the last few years. (since Brian left?) It drives me nuts to have some negative characteristics completely ignored in the remarks, but have the coin net graded instead. Sometimes. Not always. You could have an AU58 coin with some cleaning net graded down to EF45 with no explanation. I'd rather see the holder say AU58 and have a remark of cleaned myself.

Then there is PCGS. Nobody can doubt that their mid-grade grading of Canadian coins is rather brutal. It's not impossible to have a well graded coin in the F-AU range, but it's not likely. I feel like most of their higher grade grading is pretty consistent though and generally if you see an MS65/PL65/SP65 or higher coin in a PCGS slab you can be reasonably confident in the grade. There is no doubt there has been some grade creep there too, but that is across all TPG's.

I feel like NGC overgrades much more consistently than the others though. It's not that every one is overgraded, but certainly a much larger percentage are than any other TPG. Thats why you see coins sent into NGC, because sellers know there is a decent change they can get at least one extra point on the holder, which can easily be worth thousands with the right coin. It's really unfortunate because it means some really nice coins are ignored because of the holder.

I'm one of those unfortunates who lives in the middle of nowhere and rarely is able to get to a show, so I am often having to decide if I want to consider picking up a coin based on the limited visual information I have along with which TPG it is. I've picked up some NGC graded coins, but not many. I've picked up a lot of PCGS graded coins and rarely been disappointed. ICCS occasionally as well but it has to be compelling. And of course a bunch of raw ones, with mixed results. Sooooo much better to go to a show or LCS and browse for what you are interested in, but not always possible for some of us.
Valued Member
Taiwan
383 Posts
 Posted 08/12/2022  12:05 pm  Show Profile   Bookmark this reply Add Everest to your friends list Get a Link to this Reply
Very well expressed Levaril.
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