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 Replies: 20 / Views: 3,992 |
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Pillar of the Community
United States
3755 Posts |
New grading requirement--update your coin listings now Quote:Hello smokriderdon, As coin collecting continues to grow and thrive on ebay, customers have told us time and again that knowing they can buy and sell with confidence is important. We'll be updating ebay's Stamps, currency, and coins policy to help foster that confidence--this update may impact your coin listings. Starting May 30, all new listings and relistings in coin categories will need to meet the following requirements: •First, listings for coins will be allowed to include a numeric grade in their listing title or item description only if the coin grading company meets certain objective standards.* Coins that haven't been graded by these companies will be considered raw or ungraded. Currently, ebay has determined that only the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS) meet these standards. •Second, for US coins only, grading by companies meeting these standards will now be required for all coins listed with a Buy It Now, reserve, or start price of $2,500 and above. Good 'Til Cancelled listings will have until June 30th to comply with the revised policy. Listings that don't comply by these dates will be ineligible for relist or renewal and will be removed. We've heard from both buyers and sellers that they'd like to see more coins on ebay graded by companies who meet high standards. These new requirements are an important step toward meeting these marketplace demands. Take action now to ensure your listings comply with these new changes. As always, thank you for selling on ebay, ebay Selling Team *These standards will be posted on ebay's website shortly. THAT is the email I got yesterday. I can not begin to voice just how ticked off I am right now. ONLY PCGS and NGC? How the *** Please do not bypass the Bad Word Filter *** much money was required for this to happen? Now, I know the snobs here will say "Oh, ANACS and ICG arent real grading services. They are second tier at best, so this is a good thing." Well, not much I can say to that that remains in the guidlines of posting here. I WILL say dont give me the they have better standards just look at population reports wah wha wah wah wah junk. I have compared and there isn't a big difference. The simple fact of the matter is all four are pretty much the same in practice. Its people that have fallen for their marketing or are just too narrow minded or profit too much from PCGS and NGC being the only two "real" grading companies that perpetuate this crud. If PCGS and NGC had such great standards that they are the only two companies ebay will recognize, then where does that leave CAC? I mean PCGS and NGC are soooooooo much above the rest that they are now the end all and be all according to ebay, so why does anyone need that stupid green bean on their ALREADY GRADED BY GODS GIFT TO GRADING SERVICES SLAB? It makes no sense....but wait, it does. The owner of CAC was the owner of PCGS! And he had something to do with the start up of NGC too I bleieve. Man, this guy has one heck of a racket going eh? He now certifies coins from the certification companies he started up that now will have an unfair advantage selling on ebay. This makes me sick. And it makes 100% sure I will never use their services again. All of the graded coins I will be selling on ebay WILL be ANACS. I may not be able to put the grade in the listing, but the main pick will be the label from the holder. *** Please do not bypass the Bad Word Filter *** these colluding *** Please do not bypass the Bad Word Filter ***. ARRRRRRGGGGGHHHHHHHHH! *** Moved by Staff to a more appropriate forum. *** |
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Pillar of the Community
United States
5855 Posts |
This really stinks for people with coins graded by ANACS and ICG, and I agree it is completely unfair. I don't have any coins graded by any company, so that likely won't affect me. What worries me a skosh is the new requirement to have your coins graded if you are selling for $2500 on up. Not that I have any coins worth that much, but I wonder if the requirement would kick in if I ever wanted to sell a bunch of coins in a single lot...
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Pillar of the Community
United States
2589 Posts |
I got that email as well. According to their new policies, you wouldn't be able to sell a high value details grade coin from ANACS that wouldn't receive a numeric grade from the other services. Nor would you be able to sell a high grade Goodacre dollar in its original slab. Pure nonsense if you ask me.
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Bedrock of the Community
United States
12437 Posts |
Quote:
Now, I know the snobs here will say "Oh, ANACS and ICG arent real grading services. They are second tier at best, so this is a good thing." I do not think I have ever seen anyone state that here. When ebay initially just allowed the Big 2 along with ANACS and ICG, I was thoroughly disappointed that they did not allow PCI, DGS, and SEGS as those three are/were legit TPGs as well. Now allowing only PCGS and NGC is even more    |
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Pillar of the Community
United States
2589 Posts |
I have used ANACS quite a bit for sending out coins for grading. Its frustrating for me as well that they're not allowing them to be used for grading purposes.
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Pillar of the Community
United States
2602 Posts |
That is really remarkable, because ICG and ANACS are well-respected. Obviously not as much as NGC and PCGS, but still well-respected. They should let buyers decide- and buyers typically will bid a coin lower in an ANACS holder than PCGS holder, so it is already built into the market. ebay is getting more and more controlling, in my opinion. The 2500 requirement I think is to combat the rampant counterfeiting that is going on, but PCGS and NGC fake slabs are starting to surface all over- so possibly, ebay could indirectly cause the fake slab market to boom- criminals will make PCGS or NGC fake slabs so that can get their coin details into the title. |
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Pillar of the Community
United States
2757 Posts |
Heritage accepts ANACS. Not sure why ebay would exclude them ... |
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Valued Member
United States
155 Posts |
According to auctionbytes.com: The alert [sent out to the media] said ebay had worked with numismatic authority John Albanese to develop standards that must be met for grading coins on ebay. Albanese is founder of CAC and NumismaticConsumer Alliance, and ebay said he was considered one of America's leading professional numismatists and noted as one of the world's authorities on coin grading and the rare coin market. So ebay admits this policy came from John Albanese. That's like going to Bill Gates to set up computer standards and Gates say "No, MACs aren't good enough. They don't meet the standards. Only Microsoft does" and then ebay bans all MAC sales. It IS collusion, plain and simple. |
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Pillar of the Community
 United States
3755 Posts |
OK, so I just went off on a poor operator at ebay. While stating Ebays p poor excuse for their actions he said (this is as close to an exact quote as I can do without having recorded the conversation) ebay wants to make sure that their customers are protected when buying coins. To this end we consulted with leading authorities in the coin collecting world to set the standards. We consulted John Albanese... STOP RIGHT THERE!!!!!!!!!! This is where I really got loud and probably a bit abusive. This is the point VACooke was doing the face in the palm thing. LOLy Let me say now, I had it backwards in my original post. I could not remember Albaneses name when I wrote it. The backwards part is that Albanese founded NGC, and was a co founder of PCGS, not the other way around as I said before. My bad. Now that I straightened that out... JOHN ALBANESE IS THE LEADING AUTHORITY FOR THIS? Are you kidding me? Do I really need to explain how slimey this is? Or how blatantly obvious the collusion is? I KNEW this had to be the reason for this. No way something like this happens without a lot of back room dealings. I dont know the legality of this, but the morality is skanky at best. This guy is now in the scumbag class IMO. The owner of CAC and former owner of PCGS and NGC is the person who dictated this. Un real. If you sell on ebay CALL THEM AND BLAST THEIR FACES OFF. And did anyone at all get contacted by ebay and asked their opinion on this? They state they heard from buyers and sellers alike... I called and spoke to ANACS and they are working to resolve this. She was so diplomatic. LOL |
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Pillar of the Community
United States
2295 Posts |
Asking John Albanese, is really giving ebay a biased opinion. You can't blame ebay, since they have no clue about numismatics. The best defense against this, is to educate them. Is there a way to send suggestions to where someone high up there, who will actually read them? Sending to CSRs won't work, since they don't care. I think at the very least, ANACS should be included, since they are quite popular with the average collector for getting coins graded and sold with details in the title. |
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Pillar of the Community
United States
1348 Posts |
so a coin worth over $2500 must be graded by PCGS or NGC to even be listed on ebay. Am I reading that correctly? |
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Pillar of the Community
United States
4113 Posts |
Smoke: Just got off the phone with a ebay rep and complained about ANACS bring left out etc. He will pass it on to the higher-up's, if that's going to do any good or not? Maybe if enough of us E-Bay members complain, ebay will look into this further! Chuck. |
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Pillar of the Community
United States
3755 Posts |
Yes, yes you CAN blame ebay. They are coming up with this set of requirements to govern a portion of their business. Going to one single individual who happens to have a vested interest in the companies involved is NOT a proper way to run their business. Its not an issue of knowing coin collecting. This is a matter of poor business. |
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Valued Member
United States
155 Posts |
They're complaining about it on the ebay message boards too. I don't think ebay cares. Found this: The standards companies must meet under this revised coins policy are as follows: At least 50,000 coins graded (pre-1956) Live, online population report At least 3 graders on staff who are considered numismatic experts (an individual who has been a full-time numismatist for at least five years). At least one of the graders should be a member of PNG, and all three should be members of the American Numismatic Association ( ANA) Stated buyback guaranty in writing for coins later determined to be counterfeit, damaged, over- or mis-graded, or mis-attributed Coins being slabbed must be kept in a unique, state-of-the-art, tamper-resistant holder with anti-counterfeiting measures (e.g.; holograms). Archival materials should be used wherever possible Enable online verification of unique serial numbers |
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Bedrock of the Community
United States
17884 Posts |
Quote:so a coin worth over $2500 must be graded by PCGS or NGC to even be listed on ebay. Am I reading that correctly? Not quite. First it doesn't apply to non-US coins. Two you can list them but they can't have a BIN, reserve, or STARTING price over $2500. If you have a $5000 coin non-approved TPG coin you can list it in an auction but you can't put the numerical grade in the title or description and you can't start it for more than $2,499.99. If it is a non-US coin you can start it where ever you want. (I suspect that the non-US coin exclusion was an oversight and that will be changed eventually.) |
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Pillar of the Community
United States
1796 Posts |
Quote:
Stated buyback guaranty in writing for coins later determined to be counterfeit, damaged, over- or mis-graded, or mis-attributed Haw! NGC and PCGS disclaim any responsibility for misattributed coins. :-) Remember that recent case of an NGC "Small Date 1970-S" LMC that was a large date? :-) Edited by SteveCaruso
04/18/2012 1:15 pm
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Replies: 20 / Views: 3,992 |
Posted 04/18/2012 10:02 am
