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 Replies: 11 / Views: 1,987 |
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Valued Member
United States
122 Posts |
I am only asking this question to make sure I am not doing something wrong when verifying a coin ? (I know I make the biggest typo mistakes a lot of the time)
On ebay there are a lot of coins that are pictured, giving the impression that it has been graded by NCG or PCGS. This morning for the first time I tried to verify a few coins and only 1 out of 5 actually being verified as a true coin from NCG. Here is just a quick example: Current ebay list: http://www.ebay.com/itm/NGC-MS-65-G...em2ecf7f35bb NGC Site to verify one of their coins: http://www.ngccoin.com/certlookup/i...=3690648-069 This is the message that came up after I entered in the number on the picture in the above ebay listing.
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Valued Member
United States
281 Posts |
Great point made here, I have never bought coins off ebay but I am sure a lot of people never thought to verify the coins through the certifying companies web site. Once again I think this is a great subject. |
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Valued Member
 United States
122 Posts |
Thanks for the replies back.
I didn't just want to assume fraud but it did cross my mind for a half a second then I just thought I needed more coffee and give my eyes and fingers a little more time to wake up.
God I hate crooked people (Not saying this particular listing is, just saying in general)...
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Valued Member
United States
122 Posts |
Just a thought or more of a question:
I have yet to have a coin graded by any company.
Does a grading certification expire after so many years (Asking the question thinking just maybe it shows no record because no one renewed the grading certificate, if there is such an option.)?
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Pillar of the Community
 Canada
9864 Posts |
Something's not working right at NGC
"Dipping" is not considered cleaning...
-from PCGS website
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Moderator
 United States
23522 Posts |
I'm of the opinion something's wrong at NGC, rather than cast doubt on the coin you linked. The seller's images are excellent, the coin sure looks like a 65 to me, and it's not valuable enough to warrant faking a slab. So I lean towards NGC's end.
Cert verifications do not expire. Their whole point is so you can confirm a coin they may have slabbed 15 years ago.
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Bedrock of the Community
United States
20753 Posts |
And again, why I never buy coins from ebay or anywhere on line. With more and more faked slabs poping up, soon no one will know what is real and what isn't. |
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Valued Member
United States
69 Posts |
When purchasing slabbed coins, I only purchase PCGS slabbed coins. Just preference on my end. I have never had an issue with purchasing slabs off of ebay. I always check the PCGS population report. With that, I believe there must be a glitch at NGC and their website. |
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Valued Member
United States
122 Posts |
DBM, I think you are right, just tried about 6 more random cert. numbers from other listings on ebay and I got the same message "No coin was found matching that certification number. " Which is why I choose my words very carefully above, trying not to offend or accuse, because these things do happen... A little faith restored :)))))) But since this morning I have been doing some reading about fake coin grading and fake slabs that are out there (apparently there are a lot of fakes out there.) Brings a new question mind (I am still VERY NEW to all this?If someone was to write up an over inflated home appraisal or for simple math a fake home appraisal, from my understandings (and I am wrong about a lot of things.) that falls somewhere under real-estate fraud. How come there are not any laws or if there are I am not reading about any laws being broken where others have been prosecuted for over inflating coin grades or counterfeiting slabs from companies like PCGS, NGC etc... ? Here is one example: Just last week I bought this on ebay for just a few dollars and that included shipping.  I am somewhat aware of the grading company (GSA) who graded this coin but for a few dollars I went a head and bought it to see for myself. Once I received the item to my surprise it is in good condition. Not sure if others would grade it as a MS67(like I said I am still very new to all this). But what if anything is out there (legally speaking) to protect buyers from bad Coin Grading Services? Or buying a slabbed coin that has PCGS/NGC all over it but once you receive it you find out PCGS/NGC has never graded this coin? |
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Moderator
United States
23522 Posts |
Quote:
But what if anything is out there (legally speaking) to protect buyers from bad Coin Grading Services? Or buying a slabbed coin that has PCGS/NGC all over it but once you receive it you find out PCGS/NGC has never graded this coin?
To your first: Nothing. No legal governance exists. These are subjective judgments, impossible to quantify in any regulatory fashion. To your second: There's not much protection beside your education. Yes, PCGS/NGC will stomp all over anyone caught selling their fake slabs - if you see one on ebay, report it to them, not ebay. Once confirmed, at their word ebay will nuke such a listing instantly. But only your level of knowledge will actually prevent you from being taken. These are not placid waters in which we swim. |
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Valued Member
United States
122 Posts |
WOW, Good Information Thank You...
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Bedrock of the Community
13014 Posts |
There have been instances where they and CAC have helped people recover some money, but that's for large scale things. If you got taken one time for 50 bucks they aren't going to help recover the funds. With ebay and PayPal and your credit card if you sent in a slab for verification and they said it was fake you have a lot of charge back recourse though it just may take some time. The new pcgs slabs though haven't been faked. Its the old solid blue labels that were the most but they haven't caught up to the changes yet or just are sticking with the older easier to do slabs. Sticking with reputable sources and people that submit themselves is usually your best protection along with a little research. With ebay you can usually find several comparisons to see if something doesn't look right. CAC is another option to verify it. They'll put a note on it or contact you if they suspect a fake. Also stay away from basement slabbers they're usually just someone slabbing their own inventory they know wouldn't grade what they want at pcgs/ngc. |
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Replies: 11 / Views: 1,987 |
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Posted 03/16/2014 12:05 pm
