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 Replies: 13 / Views: 6,497 |
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Member
United States
703 Posts |
I bought an IGS slabbed coin for my typeset book, A 1934 P Texas Commemorative Half.
Having not heard of the company before and all the third rate slabs companies out there I was suspicious. So I bid EF to AU money on a slabbed MS65 coin thinking I might get a dipped or cleaned or lower grade coin. The seller had excellent feedback and a lot of other slabbed commens from various higher end companies.
While having the coin in hand, I am blown away by it's quality, very nice. It has not been cleaned and I don't think It has been dipped, but I'm no expert there. The coin seems to me to be MS65, :)
So I guess my question is IGS a good company?
Also What if one of these or more of these small start up slabbing compaines actually tried to grade coins correctly.
What if you started slabbing and grading coins yourself and grading them with the correct grade....could you build a following? These lower slabbing compaines are slammed all day long, but I think a smaller company (EVEN A MOM AND POP SHOP) might have a shot at it if they graded honestly and NOT grade Everything PR70 or MS70 or MS66 on older issues.
Just some thoughts.
PS I think the coin is worth more cracked out of the slab then in it, LOL
Edited by Errorcoins
02/08/2007 3:52 pm
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Pillar of the Community
United States
3234 Posts |
Do you mean ICG? Never heard of IGS.
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Pillar of the Community
United States
1703 Posts |
He means IGS.  |
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Pillar of the Community
United States
3234 Posts |
Other than PCGS, NGC, ICG, ANACS (and sometimes PCI).....all bets are off on what you'll get.
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Pillar of the Community
United States
1703 Posts |
From what I have seen lately,ICG also.
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Pillar of the Community
United States
3234 Posts |
I complete disagree with you, TLS. Their classic grading is very good...almost too conservative. I ignore the modern junk though.
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Pillar of the Community
United States
1703 Posts |
Wow, I'm suprised.  So are you saying a grading companies standards and reputation should only be judged on classic grading and not on anything else they put there grade on? The "modern junk" of today will be tomorrows classics. |
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Pillar of the Community
United States
1247 Posts |
Slab book says they were first seen in 2000.
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Bedrock of the Community
United States
14454 Posts |
I have not read the replies so far but wanted to give my 2 cents worth here. Every once and awhile you will get dealers that place their own inventory into plastic cases that actually try to grade them correctly and have enough know how to do so. But most of the ones you see just isn't the case and that is why these home slabbers get such a bad rap and why we just cant in good conscious tell new collectors to purchase these slabbed coins because there is so many of them out there that are grossly over graded that flood the market place
Edited by Bryan1315
02/08/2007 5:45 pm
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Rest in Peace
United States
2684 Posts |
Bryan is quite correct. With over 120 unrated non-tiered fly-by-night slabbing companies out there, most of them established to overgrade and sell their own coins, a new slabber is guilty until proven innocent. Sure, a few may be honest attempts to compete with the biggies ANACS, PCGS, NGC, and ICG, but most are near-fraud or downright fraud. Any newbie is gonna be lumped in with the rest until proven otherwise. My feeling is that for any new grading service which happens to be honest and independent of any coin sales to come into the market and actually have a chance for success will have to be a capital investment by a larger well-established organization, e.g., one of the auction houses which would then have to refuse to sell its own slabs, the ANA itself (which got out of the slabbing business years ago), or a financially well-endowed individual who is well-known in numismatics. Such an attempt would need to hire well-respected, well-known, and well-experienced graders and would have to have tons of bucks to back its bid for acceptance. This new slabber would also have to be extremely conservative in its grading, religiously stick to strict stated grading standards, would have to be scrupulously honest (no favoratism for large clients), would have to adopt differing and innovative policies such as no charge or a very low charge for a regrade, an iron-hard cast-in-concrete guarantee of its grades with no loopholes, and above all an attitude that "just maybe the customer IS right. A boiler room slabber ain't gonna hack it no matter how good a grader s/he might be. Fred |
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Pillar of the Community
United States
3234 Posts |
Instead of modern "junk" what I really meant are coins in plastic tombs with high grades that are chased for "registry sets". Break the coin out of that plastic tomb...now how much is it worth. If you broke out that perfect 1993 MS 70 Lincoln Cent that went for about $15K, I guarantee you most dealers wouldn't offer more than a buck or two for it. The plastic sells the coin in the case of today's moderns. I love some of the modern designs and I even collect some (post 1932 stuff). |
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Bedrock of the Community
United States
17884 Posts |
quote:
Slab book says they were first seen in 2000.
No, same initials, different company. The one referenced in this thread is a fly-by night that started up in the last quarter of last year. |
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New Member
United States
1 Posts |
IGS has been around, more or less, since 1999. They started grading sports cards, under the name Professional Grading Service (PGS) at that time. Then as, Conder pointed out, they started grading coins last year. Their name change came, so they claim, when they opened an office in Canada. I have used them earlier this year. IGS is very slooooooooow.  |
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Pillar of the Community
United States
6394 Posts |
I bought a 1907 Barber Half on ebay in May, 2006. It is graded VF-30 in an IGS slab. I do think it is accurately, possibly conservatively graded for detail. However, NGC would not cross it and judged it had been cleaned. The cleaning is very subtle and I think most (including me!) would miss it. |
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Replies: 13 / Views: 6,497 |
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Posted 02/08/2007 4:09 pm
