SGS Grading

[arareity]

Good evening everyone! In the past you have all been most helpfull so once again I appeal to your extensive knowledge. What's with this plithoria of MS-70 ratings generated by SGS (whoever they are). It worries me that the new collectors or the uninformed might be taken in by these obviously false grades. How can we prevent this?

[stonesagecoins]

Unfortunately, many new collectors are taken in by this disrepectful company and their frustration when they go to sell has to be HUGE! Imagine buying a coin for $200 and finding out when you go to sell it is worth maybe $10 or $15? Anyway, new collectors need to do their research before they buy(even though I know many, if not most, don't). It would be nice if new collectors would subscribe to these forum boards before they spend their cash as well but, again, most won't. I know of no other way of preventing this shoddy company from continuing to rip off its customers. Who knows, perhaps a new collector or two will read this and stay away from them.

[maggie102548]

There are many self slabbers and this is just one one hundreds. If you buy from ANACS, NGC, PCGS, you mostly do ok. there are one or two other that are ok but some NNC, Halmark always overgrade to make money. It is very dangerous to buy coins on e-bay. Even graded coins have to be watched due to people who crack open slabs and put in lower quality. Remember grading is an opinion but the top 3 pretty much get it right. Joe

[jody526]

" It worries me that the new collectors or the uninformed might be taken in by these obviously false grades. How can we prevent this?"

I don't think it's possible to prevent "the uninformed" from becomming victims of the multi-million dollar hype ad campaigns generated by the so-called "major" TPG's.

Newbies are bombarded with the notion that they must rely on a so-called "expert" opinion, when collecting or buying coins, rather than being provided with, or directed towards, references that would provide them with the necessary tools to make their own informed decisions.

The cheap slabbers, like the one mentioned, are just cashing in on the scam originated by the big money guys.
They're just looking for their slice of the pie.

I can't be my brother's keeper, but I can offer a helping hand if it's asked for, and I won't let false information go unchallenged.

[tatter0035]

Hi Folks i know this may sound stupid, hers what i do when a company is not that well know never exceed the MS-60 grade in the Red Book which includes the sellers shipping fee. Example: SGS MS-70 1950-D Nickle R. S. Yeoman Red Book 2007 in MS-60 list the coin for $12.00 now deduct shipping cost of lets say $4.00 which leaves $8.00 as being your top bid, and if theres any more incapsulated coins add $2.00 per coin to the total bid and when they arrive figure you only have MS-60's TOPS

[floortile]

It has definitely become a buyer-be-ware market. While the numbers of different slabs continually grow, they are not commanding the same price as PCGS, NGC or ANACS slabs. Still, many novice collectors are paying way too much, and that will hurt the hobby in the long run.

[liljohn7575]

I am not anti PCGS, in fact the majority of my higher value coins are slabbed by them. BUT a point all new collectors/buyers should be aware of!!! PCGS, while being touted as one of the higher rated Grading companies!!! actually sell coins that they grade. (the owner of PCGS is a major seller in slabbed coins) Not that there's anything wrong in this, but they (PCGS) tend to give a higher grade to BULK submission sellers. New buyers should be made aware that PCGS's site Coin Value list, is somewhere close to 40% higher than the actual value of the coins listed there. This is another pit fall to be wary of.... ASSUMING the true value of PCGS coins by that list. Additionally, sellers that use PCGS Coin Value list in their descriptions - when selling coins that are NOT PCGS graded or certified.... are (IMHO)no better than counterfeiters or scam artists. The statement above, is just my opinion - from a long and colorful history of collecting coins.

[mystuffsevende]

CAN EVERY COIN REALLY BE MS or PR 70. If you think so then SGS is your company. 🙂 buy as if AU.

[66cobraman66]

I just bought a 1909 MS63 philly quarter eagle gold piece on ebay for $241. Should I just crack the case now and keep it unslabbed, keep it in the SGS slab, or send it to the coin collecting Gods PCGS or one of the disciples (NGC or ANACS)? How anyone can figure out this mess of grading, lying, buying, and trusting in the coin world is beyond me. We all sit here saying to buy PCGS and NGC slabbed items and here I read that NGC is being fined bigtime for their "fun and games" used with the "first strike" labelling. Is SGS so bad ? They at least are not facing criminal charges for lying on their slabs to steal a few more bucks from unknowing new collectors like me. The entire coin collecting world seems to be a complete mess and that includes the US Mint who seems only interested in making money and not artistic, beautiful, and important new coins. I'm frustrated ?

[seemedical]

Well this has been a great list of comments of how dumb us newbies are and that we should check out forums to find info about how to buy coins graded by sgs ect.. Well i have been buy for two yrs now. i have checked the red book,numismatic news,read everything i could find on coins grading and follow teletrader auction every sunday.BUT THIS IS THE FIRST TIME I HEARD THAT NO ONE KNOWS WHICH GRADING COMPANY IS RESPECTABLE.Please dont you think someone should help explain that ebays coins are not worth buying as its been said here. i have spent thousands of dollars on ebay thinking graded coins were safer. is there something that can be done by ebay to monitor this site? thank you all for the info and will be buying from the mint only from now on.

[gsdungan]

well i'm a newbie, but I buy raw coins. I have baught every coin grading book I could get my hands on. I ask the seller to email me a large photo of the coins I am intrested in. I judge from the seller's photo I read all the seller's feedbacks and make sure of his return policy. I collect MS-63 Washington Quarters. in other words know a little about what you're collecting. & the only thing I buy graded is PCGS-65 President dollars. it's hard going wrong with that. always remember sex is great but fishing lasts all day

[ericsegal]

IMHO, To me it does not matter who slabbed the coin, or even what the grade is showing. If I am going to buy a coin, and it does not matter who it is I am buying frmo, I am the one who MUST know what the coin I am looking at is actually graded at. I am no expert on any coin type. I buy coins in areas that appeal to me. I am a hobbiest collector not an investor. All grading by ANY slabber, be it one of those touted as the best or not, is at the very best subjective. I can't tell a MS 65 from a MS66, or a MS69 from a 70. I have seen Mint coins that look like proof. I have seen coins graded as MS65 that really are 62's. The cold hard truth is this. Show any coin to a group of 5 long time coin collectors, I mean the real hard core guys and gals and you will get a different grade from each of them. What is the real grade? somewhere in the middle? I don't know. So.... what to do? Learn How To Grade. Ask lots of people what to look for and then practice, practice and then practice some more. Look at 1000's of coins of one type. I am willing to bet anyone who does this will learn how to identify that coins best possible grade in a very short time. I am the one who is buying the coin. I am the one who has to be happy with my purchase. I an the one who is spending the money. Warn the newbies to learn how to grade. Teach the newbies how to grade and what to look for. Where are the high points. What is actual wear? What is thumbing? How is a coin cleaned? How to tell? One of the eaisest tings to do is buy a coin grading book. Another is to be sure to only buy from a reputable dealer. He is the one who will say, bring it back if you don't like it a year from now and I will give you your money back. Buy from the guy who will take the time to discuss what to look for and how to look for it. Don't buy from soneone who will not give long term return options. Lastly, buy a coin on it's real merit. Not on the grade someone says it is. Just because it is in a SGS slab and the coin is graded MS and you can see it is only really a Fine only bid the value of the Fine. On eBay, I am the one who is responsible for knowing what the actual grade is, and what the terms of the auction are. As far is the fraud sellers go, I have submitted claims 2 times and not lost my money. Only the time it takes to get it resolved. I hope this helped.

[jody526]

Post #11 is probably the most helpful post I've seen on this group. It is one of the best I've seen on any coin discussion forum. All of us would be well advised to take that eBayer's words seriously.

-- Edited by jody526 at 06/10/2012 6:30 AM PDT

[1oneforyou2]

Eric I believe you hit on every point where I had question except 1. Does slabbing stop the environmental denigration of coins?

[4allhumanity]

1oneforyou2, I hope I understood your question correctly. If you are asking if the encapsulation methods used by grading firms stop the oxidation process completely, the answer is no. This is because the encapsulation is not 100% airtight. It does slow it down, however, because there is less air getting to the coins than if they were not encapsulated or "slabbed." Josh WJSchumm