Learning a lesson from NGC

[papag]

I would at the boards patience with me like to Thank NGC for 2 lessons I learned this past week. First I am a novice and I'm posting this to maybe help other novices out there from reaching this point a little sooner. I have been collecting coins now for about 3 to 4 years and have bought what I thought were good bargins on some slabbed coins from other grading services. To me as I bought the coin and not the slab they were great deals and grades. I recently had coins crossed at any grade by NGC. These were coins that I thought would hold up better in an NGC slab over time compared to the others as I have learned from this board. I guess I was a little shocked at first when they came back and not one of the coins were graded to the standards of the other grading services. Then here is where the lessons come into play. I do have NGC slabs as well and I started to compare there grades to other grading companies grades and noticed the differences on the coins I DIDN"T NOTICE BEFORE. Especially in the Cameo and DCAM areas. The lessons I learned was this:

 

I was following the standards of the other grading services since I have more of them than I had with NGC Standards and another one we all know. My standards have now changed from when I would look at a coin and try and grade it, or see if the grade is what they have labeled. It's just not the cameo on the obverse or just the reverse but on BOTH THE OBVERSE and REVERSE. Its the strike as well to details I never seem to have seen before. So again the lesson of setting the standards for coins is not just whats on one side of the coin but BOTH. I will now probably be able to grade better and less financial mistakes when I purchase coins. I know too that the slab does not make the coin but I now have learned to look a lot closer at what the slab holds on all sides. Sorry to be so winded but I think the novices out there need to understand these things to look for. Thanks for listening.

Papag

[spy88]

papag, I seriously doubt there is anyone on these boards that haven't learned from mistakes with slabbed coins. Going by an old article I read somewhere, there are three groups of slab companies out there. The first group was recommended as superior in grading at all levels (PCGS and NGC), the second group had good but mixed reviews (ANACS and ICG) and the third group was rated poor (SEGS, PCI, ACG, NTC). This is not to say one should never buy from anybody but the first group as a lot of "good" coins get graded by ALL the services. It is simply a matter of knowing what to look for and what to look out for.

 

IMHO, David

[papag]

Hi David

Thank you very much for your comments, I do appreciate them. Do you or anyone on the board know where I can find that article you mentioned. I would really like to read it. Thanks again for your comments.

Papag

[jom]

Let me add in here that you should spend less time worrying about grading services and MORE time on learning how to grade yourself.

 

Also, I should point out that a "good" grading service is not necessarily the one that is the most conservative. It's the one that:

 

1) Most consistant

2) Best customer service

 

IMO, PCGS fails at both of these but yet their slabbed coins sell for the most money usually. Go figure.

 

As a "newbie" there is a LOT to learn. Be prepared to get burned while you are learning. It has happened to all of us and continues to do so.

 

jom

[MAULEMALL]

Let me add in here that you should spend less time worrying about grading services and MORE time on learning how to grade yourself.

 

Also, I should point out that a "good" grading service is not necessarily the one that is the most conservative. It's the one that:

 

1) Most consistant

2) Best customer service

 

IMO, PCGS fails at both of these but yet their slabbed coins sell for the most money usually. Go figure.

 

As a "newbie" there is a LOT to learn. Be prepared to get burned while you are learning. It has happened to all of us and continues to do so.

 

jom

Serious Good Advice