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jayh749's Journal

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Opinions About The Grading Companies

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jayh749

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Values of one grading company over another

I read alot. About coins, grading, and most of all, about dealer's and collector's opinions about the grading companies. I like swishing the different opinions around in my head, It makes for good thought. I have found that, over all, the dealers are to blame for the off balance of opinions towards the grading companies. I have talked to the same dealer at different coin shows, and depending who was around he would lift or put down NGC. I personally believe in NGC, they put out a good product and they call it like it is. Sure I've heard from the same groups of people, that NGC makes mistakes. Well, I have seen mistakes in descriptions and such from about 5 different grading companies. Hey, we all make a mistake from time to time. So if that were aloud to stand then none of the grading companies should be considered good. One of the nicest things about NGC, that I have found, is that they label cameo, and ultra cameo on the slab. Except for modern mint product, I found that PCGS does not. I believe that this is unfair to the owner of the coin. It leaves too much for interpretation when dealing for a coin. I recently got a "steal" of a deal with a purchase of a coin. The owner sold it to me as having a good cameo he thought. I purchased it on ebay. I took him at his word. He thought that he made good money. When I recieved it. I compared this PCGS slab to one that I already had graded by ICCS, which was an ultra cameo, and sure enough it was an ultra cameo. I paid $154.00 for a $1400.00 coin. Due to the fact that PCGS would not place any cameo description on this coin, even the owner did not know what he had. After telling him, he wanted to buy it back. I wanted the coin, so I never responded to selling it back. I'm from Canada, and I hear all the time that ICCS is the most conservitive grading company for grading Canadian coins. Granted, they do grade enough coins. However, I've found that they seem to put a grade to every coin that they recieve. I recently bought a coin that was graded by ICCS. It had a grade, and then had a label as being "laquered". I bought this coin just to educate myself. I believe that unless this was the last coin in existance then it should have never been graded. How could it be, No one could truly say what the surface of this coin was with the laquer still on it. Then I have also found that they also grade everything. Low modern ms and all. Why, there isn't enough good stuff to grade. I feel that they are living on errogance. I also bought a coin a long time ago, off of a guy who was grading and slabbing his own coins. He sold a 2005 ms 68 quarter to me. When I got the coin, I found a very well defined fingerprint on it, inside the slab. I dont believe that finger prints on modern common product is necessary in the market place, again unless it is the only coin out there. I could go on and on, with these stories. In the end though I believe that NGC needs more exposure up here in Canada to rebuke those wishy washy dealers at the coin shows, who quite frequently will sell NGC product and at the same time talk them down. Even if, and I say if, NGC makes a mistake, I have never seen an occasion yet where they have been too errogant to correct it. Thus, making my claim that they are certainly at the top of the game.

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