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 Replies: 10 / Views: 3,736 |
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Valued Member
Canada
495 Posts |
I recently purchased a coin graded by NNC that has a MS65 on the slab. A local dealer contact suggested I get it crossed checked because of the reputation of NNC but he also stated the coin appears to be graded correctly. Is NNC that bad ?
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Pillar of the Community
United States
2797 Posts |
A person assigns a grade to a coin and then sells the coin for the assigned grade ... what could possibly go wrong? That is the definition of a "Basement Slabbing" operation. Reputable companies do not own the coins they are grading and conflict of interest is avoided for the most part. NNC is private ... you won't find a webpage for them that solicits your coins for grading. The person behind all this is notorious on about all coin forums. He did win a PCGS-sponsored grading contest, so he has some skills. He's also been shown to be a crackout artist. He buys problem coins in PCGS, NGC and/or ANACs holders and then they show up in an NNC holder problem-free. Despite all this bad news, he makes mistakes on occasion and puts an accurately graded coin in an NNC holder.  |
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Pillar of the Community
United States
2543 Posts |
In the aftermarket, NNC garners little to no respect. Depending on what you want to do with the coin. If your just going to keep it, the slab is as good as a capsule for storage.
Unfortunately if you are going to sell it, people will give it no more consideration than a raw coin. Depending on the coin, crossing it could increase the value, or as stated above, it could come back.details, lowering the value below raw.
Such is the chances you take when buying basement slabs.
Edited by denco7
02/20/2013 10:23 am
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Pillar of the Community
United States
1511 Posts |
Ya SeatedNut hit it right on the head, perfect answer, lol.
Personally I'd have it re-graded if you really want it in a slab or are that curious about what it will grade.. Or if it doesn't really matter to you I'd crack it out and keep it raw.. Keeping it in that slab deters from the value.. IMHO at least. People tend to steer away from those slabs at all costs. (I prefer raw coins anyways so I'd crack it out)
It would be the same thing as me buying empty slabs, printing out labels, overgrazing them and selling them at those grades/prices... Totally a scam artist move.
You should also post pics of the coin in question in the grading section and we can all tell you if we think it was graded properly.
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Pillar of the Community
United States
2543 Posts |
Quote:
It would be the same thing as me buying empty slabs, printing out labels, overgrazing them and selling them at those grades/prices... Totally a scam artist move Note to self : Pass on coins from Nathan's grading service.  |
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Pillar of the Community
United States
1511 Posts |
Lol, good call! NGS..  ..I love it! But sadly I don't sell coins unless its trading scrap for gem examples. I Strictly buy.. And I DO put my coins in slabs from airtites.com but there all label less.. I know the grades and that's good enough for me... (And its all written in a notebook). I only buy coins I "can't live without" so I'd probably have a panic attack if I sold any, lol.  |
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Bedrock of the Community
United States
17884 Posts |
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Valued Member
 Canada
495 Posts |
Thanks for replies re: NNC. I havent mastered sending pics yet maybe later. I will have the coin cross checked.
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Pillar of the Community
United States
9792 Posts |
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Despite all this bad news, he makes mistakes on occasion and puts an accurately graded coin in an NNC holder. "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Pillar of the Community
United States
6384 Posts |
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Unfortunately if you are going to sell it, people will give it no more consideration than a raw coin. NNC coins are potentially WORSE than raw coins, because the holder conceals the edge. If/when you crack out an NNC-graded coin you may find serious edge problems like filing or solder from a removed mount. Here's the link to my topic about the NNC quarter eagle I purchased..... https://goccf.com/t/131291&SearchTerms=1844-D |
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Pillar of the Community
Canada
1192 Posts |
Stay away from any unknown grading "companies" like these. ebay has done a decent job at reducing the amount of these kinds of third world/overgraded holders on their site, but there are still a lot available. |
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Replies: 10 / Views: 3,736 |
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Posted 02/20/2013 10:22 am
