N.C.I. (Numismatic Certification Institute) was created in 1984 through funding by Heritage Capital (Steve Ivy and Jim Halperin), Mr. Halperin, who is arguably one of the best graders in the coin business. Now Jim wasn't personally grading the NCI slabbed coins as I recall, by then he was working with Steve Ivy in building Heritage Coins, into Heritage Auctions (a collectible powerhouse today). Jim owned New England Rare Coin Galleries before joining up with Steve Ivy Rare Coins and the two of them then co-founded Heritage.
From an interview with Jim Halperin;
Quote:
In 1984, you and your partner, Steve Ivy, formed the Numismatic Certification Institute (N.C.I) in an attempt to standardize coin grading. The concept became the inspiration for the formation of the top grading companies today. Why didn't N.C.I continue to flourish?
JH: PCGS developed a better product. Also, PCGS's founder David Hall, whether accidentally or by design, tightened the grading standard (though that standard eventually loosened some years after we closed down. NCI and many NCI coins were subsequently graded the same or higher by PCGS). Our problem was that telemarketers began to overcharge for NCI-graded coins. Even though we had very specific disclosure on the back of every NCI certificate, many of telemarketers were still selling NCI coins at Grey Sheet prices, which were now based on PCGS standards. No one forced us to close NCI, which was still very profitable, but Steve and I realized this sort of activity wasn't good for the coin business in the long run, so we decided we wanted no part of it.
Jim wrote an excellent book on grading which I recommend to all coins collectors of United States issues. His book is free on line here:
http://www.coingrading.com/ I would imagine the old NCI coins are collectible in their own right just for the holder to many slab aficionados. I paid for a couple of
Peace dollar Photo Certs from them last year on
ebay last year, I liked the dollars and the certificate/holders were really neat. I probably paid 1.5 times what the common
Peace dollars were worth to get them.
According to another website (on
TPG slabs) they claim Heritage actually sued NCI as the holder was so similar to their own holder back then. (What? They were the same company)!
That claim is wrong, however NCI was named in an action by the FTC. Here is a link to that from the LA Times
http://articles.latimes.com/1989-08...ding-service"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
Posted 03/23/2015 11:28 am
