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USA Grading Company

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theconductor's Avatar
United States
8 Posts
 Posted 03/01/2010  6:34 pm Show Profile   Bookmark this topic Add theconductor to your friends list Get a Link to this Message Number of Subscribers
Hi folks,

I recently picked up a group of slabbed coins locally that were graded by a company called "USA Grading" in North Carolina. I am wondering about the reputation of this service and how it may affect the value of the coins. I did some research on google and wasn't able to find much of anything on this company, besides their website.

Additionally, when I looked up the coins in their current grades on ebay, some of them were worth quite a bit for the PCGS/NGC same grade. So, that is why I am wondering how the fact that these coins were graded by the USA grading service affects the value.

Thanks in advance for any help.
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Sap's Avatar
Australia
16836 Posts
 Posted 03/01/2010  7:50 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
Sorry, but that's not a genuine TPG. It's a "basement slabber", probably a dealer slabbing their own coins and hoping people will think they're independently graded.

As such, there's no way to know, without seeing closeup pics of the coin, how close your coin's grade might actually be to the one stated on the slab. The coin might even be harshly cleaned, or even completely fake.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Bryan1315's Avatar
United States
14454 Posts
 Posted 03/02/2010  09:32 am  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
These type of companies have really damaged the hobby with new collectors. The newer collector has heard they should get a graded coin when they are not good at grading themselves and these type of basement slabbers depend on that to make money. These people are usually coin dealers themselves and just place their inventory into plastic holders that look like real TPG holders and target the unknowing collector because they see a grade on a plastic holder and think it was done by a third party not the actual person who owned the coin when it was placed in these holders. Dealers have been marking their inventory with inflated grades way before there were ever any TPG but since the TPG's have taken off in the hobby this is just another weapon in their arsenal to get over on new collectors. As Sap said above some of these coins are problem coins and some are even fakes and just about every time the coins have inflated grades to try and prey on the people that can not grade themselves to try and get more money for their coins. Even though this is nothing new with dealers it is more deceptive than just having a inflated grade on a cardboard 2x2 because it makes the collector think they are getting an unbiased opinion on grade when in fact it is no better than the grade would have been on the 2x2 of yesteryear
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theconductor's Avatar
United States
8 Posts
 Posted 03/02/2010  3:17 pm  Show Profile   Bookmark this reply Add theconductor to your friends list Get a Link to this Reply
Thank you both for the feedback. As I said, I just picked up a group of these locally so I appreciate the information you provided. Per your request, I uploaded a couple pictures to my flickr since I know these images are too big to post here.

Here is the link: http://www.flickr.com/photos/9553958@N02/

Are these worth even a fraction of the comparable values for PCGS/NGC or are they only worth the value of the actual coin contained in the slab? Would it be worthwhile for me to try to get them graded by a more reputable service?
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Conder101's Avatar
United States
17884 Posts
 Posted 03/02/2010  6:14 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Coin World shell, no hologram, no barcode, no serial number. Almost certainly a self slabber, but it is odd in that case that they included an address on the back label. Not one I have seen before.

The coins are only worth what the coins are worth. Any grade claims made by the holder would be considered meaningless. They are, in the eyes of the market, raw coins. Would it be worthwhile submitting them to a reputable service? Only if you could be sure they would grade at the high grades listed on those holders. One way to estimate would be to assume a cost of $30 per coin for grading, shipping, and insurance and what they would be worth if they came back two grades lower. In of the words if the coin in a slab from a reputable firm graded two grades less than the grades on the current holder is greater than the cost of the coin plus $30, then it might be worthwhile to resubmit it. (This is assuming you don't have to pay another $50 to $200 to join up so you can make direct submissions. If you aren't going to be making a lot of submissions, and if you are you had better be able to grade yourself, it would probably be better to submit through an authorized dealer.)
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John1's Avatar
United States
56855 Posts
 Posted 03/02/2010  6:50 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
This is why that old saying "buy the coin not the holder" holds true. Also buy the book before the coin. If you learn coin grading then it will be much easier to buy the coin not the holder, after all the grade on a holder is only someones opinion, right?
John1
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