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 Replies: 6 / Views: 1,078 |
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Valued Member
United States
393 Posts |
Concerning grading companies puting problem coins in a bodybag, what if you're the average Joe walking along and pick up a 1933 $20 St. Gaudens off the sidewalk (like that would really happen). Not knowing beans from marbles about coins he takes it to a coin shop. The shop owner stunned in disbelief says it absolutely has to be certified. They send it to be certified and it's returned in a bodybag marked "cleaned". Well, so what if it's been cleaned, run over by a truck nor whatever, he wants to know if it's authentic and an approximate value. Heck, I know it's worth something if not $500 an ounce. Are the grading companies right in doing this?
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Valued Member
United States
458 Posts |
Being that I am a consumer, and have had a few Saints returned in a body bag, by both NGC & PCGS I say no. I paid cash for encapsulation; they should at least give me a grade in some way & let me know in what way it was cleaned. ANACS use to do this; in fact 1 of my questions to Mr. Taylor is why they did away with it. Even so, I can see them keeping "some" of the fee, but heck not of all of it if I did not receive this service. Odd though, that NGC will encapsulate and grade coins that have been tampered with from their conservation company eh? Conflict of interest perhaps. Another words, they can go ahead and clean the coin and not body bag it? All this from the TPG's is an internal determination & policy created by them. CiScO |
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Rest in Peace
United States
2684 Posts |
It is my understanding that ANACS will still encapsulate problem coins, but annotate the label with the problem, e.g., "cleaned", "damaged", "bubblegum", or whatever. It will continue to provide a "Details grade", but no longer assign a "Net grade". I do not believe ANACS plans to bodybag any coin without encapsulation ( = bodybag) unless it's really trash.
Fred
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Pillar Of The Community
3147 Posts |
This is EXACTLY why I quit using the grading companies years ago. Believe me I tried 3 of the big 4 and getting NOTHING for my money really stinks. I can understand some type of fee but keeping it all for a plastic bag, in my humble opinion, is STEALING from the hand that is trying to feed you. I also don't like being forced to join some imaginary club to submit coins! Thats another crock!!!
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Forum Mom
 United States
5877 Posts |
I also do not understand why PCGS and NGC will bodybag a coin rather than authenticate it. I can understand not assigning a grade, but authentication should have nothing to do with cleaning or damage.
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Valued Member
United States
157 Posts |
I can understand not grading the coin. But part of the service I've paid for is authentication. If they can determine the coin is authentic, they should declare it genuine even if it's cleaned, damaged, corroded, et cetera.
Heck, if I have (for example) a cleaned, corroded 1901-S quarter, I KNOW it's a problem coin. But it's still a very valuable coin if it's authentic. Leaving it raw will make people think the coin has an added mintmark. Professional authentication is still necessary and part of what I've paid for when I send them the coin.
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Valued Member
 United States
393 Posts |
Thanks, everybody. The thought just occurred to me that if one of these people that grade coins happened on this hypothetical coin they would figure out some way to get it in a capsule. Right, wrong, cleaned, or whatever, if it belong to them and it ment several tens of thousands of dollars it WOULD be put in a capsule!  |
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Replies: 6 / Views: 1,078 |
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Posted 01/08/2006 8:24 pm
