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1899-O Morgan Dollar

Started by 123cents,

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123cents

123cents

Posted
Posted

I won this Morgan Dollar on Ebay a couple of weeks ago. It is graded by IGA grading service(Independent Grading Associates) out of Atlanta GA. It looks like a early graded ANACS coin. Has anyone ever heard of this grading company?

 

 

IGA.jpg

IGA1.jpg

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kryptonitecomics

kryptonitecomics

Posted
Posted

I sure don't but that is way cool....what did you pay for it if you don't mind me asking? Looks like a nice coin and I love older holders....especially one's I haven't heard of :banana:

 

#32 on this list but limited info

 

 

Aalso found this article though I don't that this overgrading was part of IGA's normal MO or if they just did something on the side for telemarketers...... hm

 

PROGRAM TO COMPENSATE CONSUMERS IN GEORGIA-BASED COIN INVESTMENT SCHEME 08-93

 

The Federal Trade Commission today announced a refund program to compensate consumers who purchased rare coins whose investment quality and grades were allegedly overstated by two Atlanta-based firms. Under the disbursement plan, consumers will receive a pro rata portion of their original investments.

 

The refunds stem from a December 1987 FTC complaint charging Rare Coins of Georgia (RCG), its president, Sheldon Schultz, Independent Grading Associates, Inc. (IGA), and its president, Robert Cornely, with misrepresenting the value and grades of rare coins they sold to telemarketers nationwide.

 

According to the FTC complaint, RCG, IGA, and American Coin Grading Services (ACGS), an unincorporated entity operated by at least one of the defendants, issued certificates that overstated the quality of rare coins, and supplied those coins and certificates to telemarketers. Using the certificates to promote the coins, telemarketers then resold the coins to consumers as high-quality investments, the FTC alleged.

 

A consent judgment to settle the charges, previously approved by the court, prohibits the defendants from making any future misrepresentations in the sale of rare coins or other investments and required them to pay $150,000 for consumer redress.

 

(shrug)
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