Graded Coins

warjag,

You left out a very important piece of information. Who graded the coins?

It doesn't make a lot of sense to "slab" these with any of the top four (PCGS, NGC, ANACs, or ICG). If the name on the slab is one not mentioned here, you may have "basement slabs". Anyone can purchase these slabs in bulk and become grader, slabber, and marketer.

The value can go *way* up for high grades, even on coins much more recent than 1959. But as others said, this would be for coins graded by one of the tier TGP's.

Most definitely overgraded. These "3rd world" slabbers really don't have any idea how to grade a coin. Look at SGS for example. I have yet to see a coin graded other than MS70.

warjag. If you purchased a lot of graded "INB" International Numismatic Bureau coins I would send them back for a refund. It is a notorious self slabber on ebay who grossly overgrades coins that come from bank rolls and slaps a MS-69 Ms-70 PF-70 ect on them and tries to snare novice collectors who are spending their nest egg on a great "investment opportunity" that seems too good to be true. The problem is that it is too good to be true. This slabber has no respect for the hobby and in return gets no respect from the hobbyist. The resale value of these coins would be slim to none.

I am not trying to be a downer or seem to come down on you, I just want to warn you of this type of "coin fraud". I once purchased a "rare lot of coins in a wooden winchester cigar box" from this very seller on ebay and received nothing but a cardboard box with a picture of a wooden box pasted on the sides full of pocket change in 2x2 plastic flips. It would be in your best interest to return them, I did and received my money back plus return shipping. Guys like this INB guy gives the hobby a bad name.

If you plan to buy certified coins I would stick with PCGS, NGC, ANACS, ICG only!

I agree also, send them back for a refund. But to answer your question the reason they slab them is to fool unsuspecting collectors into thinking they were actually graded by a third party when in fact they paid about a dollar a piece for the slabs (including the money they have in the labels) and then slap a high grade on pocket change that they have only face value in and sell for a huge profit (so if they slabbed a Lincoln Cent and sold it for anything over a dollar they made a profit)

OK don't anyone scream, but I bought a 1996W Roosevelt dime on ebay that was "ING" certified with a grade of MS70. It was 2:30 in the morning and it ended up costing me $16.64 with shipping. I had already checked in my Red Book and a MS 65 was going for $20. The first thing I did when I got it was to pop it out of its capsul and graded it myself (I am far from an expert, but I like to try and grade coins for myself and get the practice). Anyway the coin in my humble opinion is probably a MS 65 or very close to it. The key here is to not buy certified coins from anyone other than the 4 main certifiers listed above. I was very lucky and very bored and the price was about what everyone was charging at the time on ebay. As a general rule and again this is just my opinion, Certified coins should be seen firsthand, I have seen MS 64 coins that I personally liked better than MS 65 and I would of never seen that had I not seen the coins firsthand. I know this is a little off the original post but I thought it might help someone else.

all the companies you mentioned in the above post are all basement slabbers which even though they have websites they mainly are just coin dealers that place their own inventory in these plastic cases and over grade them hoping some unsuspecting new collector will bite and bid big on them

Thanks Coppercoins. I have done some real research in the last 24 hours. Your direction is what I have already done.