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 Replies: 15 / Views: 2,900 |
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Valued Member
Australia
444 Posts |
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Pillar of the Community
Australia
7096 Posts |
What a good article.
I was in the "Slabs Suck" camp until in October 2013 I decided to send a small submission of coins away to PCGS to see for myself what all the "Hoo Har" was with these horrible "Slobbed" coins.
That first 12 coin submission was the start of a huge learning curve as to how I graded my coins.
All of the coins I submitted were from various sources in Australia and all were in 2x2's with Unc, Ch Unc etc written on the cardboard by the various sellers/Dealers and I blindly assumed that this is what these coins were graded at.
The best grade I achieved for this submission was MS63 and that coin was called "Gem" on the 2x2, 2 coins came back "Details" and 5 of the Unc coins came back AU58.
From that moment on I have revaluated the way I look at a coin and grade it and the way I now collect, Most of my better coins in my collections have now been graded by PCGS and if I need a particular coin I will try and source it already graded and slabbed as I have total confidence knowing that I am getting Exactly what I am paying for .
To date I have had well over a thousand coins graded by PCGS and will continue to do so.
So if you are still in the "Slobbs Suck" camp get a couple of coins graded If only out of idle curiosity, I think you will gain some valuable grading education by doing so.
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Valued Member
 Australia
444 Posts |
i did exactly the same thing trout , I sent 12 gem unc coins over to PCGS for grading and a few came back in AU 58 ,and a couple ( from a well know dealer from melbourne ) in body bags ( CLEANED ) that is when the penny dropped THAT NOT ALL DEALERS KNOW HOW TO GRADE OR ARE CON ARTISTS
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Pillar of the Community
Australia
7096 Posts |
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THAT NOT ALL DEALERS KNOW HOW TO GRADE OR ARE CON ARTISTS I don't think that it is a case of being Con Artists , I think it is more of a case that selling overgraded and cleaned coins used to be an acceptable practice and the "Old Guard" still do this. I bought a Maundy set from a dealer that has stores in 3 states that were described as Ch Unc and they all came back in body bags one didn't even make Unc. Of course there was NO refund because I had removed them from their crappy 2x2's to send them to PCGS. |
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Valued Member
Australia
444 Posts |
i think when some one cleans a coin to fool someone in to thinking it is a better grade than it really is then , they are a con artist
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Valued Member
Australia
222 Posts |
In a radom selection of raw coins described as "UNC", about 50% come back in either AU58 or a body bag. It seems to have got worse in recent years as quality raw coins are harder to come by.
Eric
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Pillar of the Community
Australia
908 Posts |
I would have to agree with Eric as I have noticed the steady decline in the availability
of top grade raw coins over the last few years but they are out there
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Pillar of the Community
Australia
7096 Posts |
Quote:
In a radom selection of raw coins described as "UNC", about 50% come back in either AU58 or a body bag. It seems to have got worse in recent years as quality raw coins are harder to come by.
 I have also noticed that many of the remaining coins available raw are "Self Graded" by the sellers and they want the same price as an equivalently graded PCGS or NGC coin. If they are confident that a coin is Gem Uncirculated as they claim then why haven't they sent it to be graded as MS65 or better themselves begs the question. |
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Valued Member
Australia
222 Posts |
Yep, put your money where your mouth is I say.
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Pillar of the Community
Australia
7096 Posts |
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Yep, put your money where your mouth is I say. HeHeHe, Like that's going to happen sometime soon  I imagine there are various reasons why they don't get these coins graded. Maybe they are not confident enough in their grading abilities to be able to grade with any sort of accuracy and are concerned that the coin may be "boddybagged" or come back as a lesser grade? Maybe they ARE confident in their grading abilities and Know that the coin will come back "Boddybagged" and a lesser grade? Maybe they are "Factory Seconds" These are coins that have been rejected for grading and are simply put on the market raw ( don't laugh, This is a pretty common thing) and let someone else take a "Punt" ? If this is the case NONE of the coins put forward by these sellers should have a grade assigned and there should be clear and honest images (NO editing) of the coin so that potential buyers can make their own decision as to what the coin grades at. Don't hold your breath Guys, this won't happen as the majority of these sellers either have crappy images or they are "Doctored" in some way. My advice is if you want/need a problem free coin that is accurately graded then stick to PCGS or even NGC , Buying "Raw" these days on the internet is a bed of thorns with very few roses to be found  The best possible way to buy raw coins is to see them "In Hand" But as this is not possible for most collectors we are stuck with internet deals  Edited by trout1105
11/29/2015 12:40 am
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Valued Member
Australia
491 Posts |
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To date I have had well over a thousand coins graded by PCGS and will continue to do so. trout you are obviously not trying to sell a bit on ebay to put food on the table type budget. |
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Pillar of the Community
Australia
7096 Posts |
Quote:trout you are obviously not trying to sell a bit on ebay to put food on the table type budget I "Put food on the table" doing the dirtiest hardest work on shutdowns at remote Mine sites "Mill Relining" , Look it up it isn't for the feint hearted. I DO sell a bit on ebay and at auction , this helps cover my collecting habits/goals . I rarely sell ungraded coins now as most of them would be either my PCGS rejects or not worth doing as far as I am concerned. A large percentage of PR68DCAM decimals are surprisingly NOT well received and I just keep them  I have never had any complaints or problems with the sales of my PCGS graded coins whatsoever. |
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Bedrock of the Community
13014 Posts |
As much as people complain about the TPG myself included on some things I do have to strongly agree with the fact that they have helped to emlimate those "dealers" that try and take everyone for a ride with their lose grading that does not get reflected In their selll back prices |
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Valued Member
Australia
491 Posts |
Yea! I can talk dirty. Part of it was 4 years in the Simpson Desert. All too many years ago. Now I work for quality of life.  |
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Valued Member
Australia
56 Posts |
It is pretty disappointing that it is accepted practice for cleaned coins and overgraded coins to be sold by dealers and auction houses without concern or worry. I used to take gambles on pictures then when I received a dud just said oh well and chucked it in the reject pile, I thought about it though and obviously alot of people do this with few actually raising it as an issue with the dealers involved. I now buy at auctions after specifically asking what the surfaces are like, are they original ect. So far 2 auction houses and a dealer have said yes and sent me cleaned garbage. I have since gotten refunds for all and returned their junk much to their displeasure, also informing the people I deal with in the coin groups where to avoid putting there money (which I find satisfying). Hopefully with time they get the hint it's no longer acceptable practice but until we have a governing body with some balls I can't see that happening.
Edited by Cockatoo_coins
11/30/2015 8:49 pm
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Valued Member
Australia
444 Posts |
ANDA refuses to cancel membership to suspect dealers and auction houses
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Replies: 15 / Views: 2,900 |
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Posted 11/14/2015 11:50 pm
