Dominion Grading Service

[murty]

I know they are NOT 1 of the big 4. Has anyone used their services?

Does anyone have feedback on the company?

Would anyone here use them?

Thanks

[MTHead-migration]

No, no and no. Thanks for asking.

 

(thumbs u

[murty]

Thanks...Pretty direct opinion!

[DC Dawg]

I think DGS is going to be a player. It appears they are trying to do the right thing, grade consistently, and ensure that there is integrity in their product. For example, DLRC is now giving coins to DGS (DLRC owns DGS) for grading raw coins. However, when they do that, the serial number begins with a "D" to show that the coins was a DLRC submission. This will allow the buyer decide whether there is a potential conflict of interest and make the purchase decision appropriate to them.

 

A friend recently bought a Morgan Dollar from DLRC that was graded by DGS because it was a VAM variety he wanted. The slab label had the "D" prefix. I have not seen the coin, but my friend things the coin is undergraded. He has shown it to a number of dealers who suggested he crack out the slab and send it to NGC or PCGS for a higher grade.

 

Before I consider submitting coins to DGS, I want to see some of the coins they have graded. I would like to hear other opinions and see how DGS reacts.

 

I would also like to see PNG/ICTA do another survey of TPGs and include DGS.

 

Scott

[Oldtrader3]

I have gone through the DGS coins listed on the David Lawrence site for three weeks now and believe that they are trying to provide a legitimate service, with consistent grading. However, I have not bought any of their coins yet and can not speak from direct experience. DLRC is a legitimate company run by people who try to be fair in their dealings. I would prefer, for this reason to give them the benefit of the doubt. I do not believe that MTHead has actually purchased any of their graded coins and speaks from firsthand knowledge or experience. MTHead can correct me if he has actual experience buying several of their coins as a representative basis for opinion.

 

I believe that it would be prudent to build a statistical basis in fact before making a blanket statement on the worthiness of DGS grading. Try their grading out and then armed with even a scintilla of knowledge, make a reasoned statement of their grading capability.

 

This comment was not directed at Scott.

[michael]

i would use them if i was submitting coins

 

and i think they have a good chance to be one of the major player's in grading coins once they have established themselves in the market in a few short years

[Houston Investor]

Absolutely no interest in them or use for them. NGC is my primary TPG of choice with ICG next.

[jgrinz]

There is not way a CONFLICT of interest can be avoided in my mind. Kinda like

PCGS's Price Value list.

I will nopt use them or buy them

 

 

[Frank Provasek]

There is not way a CONFLICT of interest can be avoided in my mind. Kinda like

PCGS's Price Value list.

I will nopt use them or buy them

 

 

But it's OK that Heritage owns 25% of NGC?

[James_OldeTowne]

John Feigenbaum of DLRC/DGS spells out exactly why I have no interest at all in using DGS. Excerpt:

 

"Is there an inherent conflict of interest with DGS grading DLRC-owned coins?"

 

Of course there is... HOWEVER, but there are also conflicts of interest in every for-profit venture and it is up to the consumer to decide whether a dealer/company is reputable and has integrity.

 

To me, one of the things that builds integrity is to not base a business model on an obvious conflict-of-interest situation. I actually really don't care what the quality of their grading is, since I grade coins - slabbed or not - for myself. I simply do not like the business model. Despite all the frills and embellishments, it's just a clone of NGC/PCGS, with the addition of an auction outlet.

 

Just my opinion, and I fully respect differing points of view.

 

 

[numismatica]

 

I feel that any of the business that they are currently getting is due to the novelty of a new grading company--people are curious. But really, what's the advantage of using their service? It is just an old PCI slab with a different person's grading opinion attached. Some say that they are conservative. So. How hard is it to be conservative in grading? Just find the real grade, drop it one full level and print out a label. David Hall perfected that technique years ago.

 

I do not see the long term advantage for collectors to want their coins in the new DGS holder. If I am missing something, please tell me.

[Oldtrader3]

As has been mentioned before, Heritage owns 25% of NGC and David Hall runs PCGS as his private fiefdom and is also a coin dealer and did control B&M. So, all of these three TPG's have and have had an inherent conflict of interest problem. What is a collector to do? Pick door number one, door number two or door number three?

[BankNote1]

I would buy DGS slabbed coins. I have purchased many coins from DLRC and if I trust them why wouldn't I trust DGS? The only problem is you can't put them into your registry.

As far as sending coins in for grading I will still only use NGC and PCGS.

[braddick]

Unfortunately, until eBay and/or Teletrade recognize them, they are a bit of a non-issue.

[Conder101]

John Feigenbaum of DLRC/DGS spells out exactly why I have no interest at all in using DGS.

(quote snipped)

 

Despite all the frills and embellishments, it's just a clone of NGC/PCGS, with the addition of an auction outlet.

Does this mean that you have no interest in using NGC or PCGS either?

[Houston Investor]

I really see no problem seeing DLRC wanting to get on the self slabbing bandwagon, afterall a lot of others are doing it, what with the Chinese self slabbing product many are now successfully using. Perhaps they feel its a great synergy considering their auction business, big push in buying collections, and quite frankly I don't blame them. They still will have a tough road on coins buyers perceive as "expensive." They also need to get rid of the PCI design as many on the bourse (including myself) did not think much of PCI. However DLRC, seems to be a fine company and I hope it works for them. I see them having a lot of success on mods.

 

Where I have a problem, especially with any of my money going to them, is the great majority of my customers want their expensive, classic coins either in NGC or PCGS holders. So for me, DLRC is blowing in the wind. Their product is not even accepted by Teletrade or currently allowed as being described as "certified" on ebay. Nor does the CDN report them in the CDN Certified Market Indicator. That said their product (say I acquired some from a collection to be assimilated into my inventory) would be treated like any raw coin, cracked out of their holder, regraded, and either sent to NGC or assigned to one of my holders for the time being.

[World Colonial]

I agree with your comments. And before I start, to me there is no 'big four" but only a "big two". I consider ANACS and ICG legitimate companies, own some coins in their slabs and would buy others.

 

But from the marketability, financial and investor standpoint, none of the others matter outside of NGC and PCGS. If this is not the case, then someone can tell me as I have not looked at their census reports. But offhand, I would not expect any really valuable coins ($10,000 or more as an arbitrary cut-off) to be in a non NGC or PCGS holder.

 

If this is mostly or entirely correct, then the only way a third grading service is going to gain the same acceptance is if NGC or PCGS self destruct and implode. Without that, any conservative grading on their part is likely to be self-defeating as crack out artists try to buy the under graded coins cheap and cross them over.

 

So can they be successful? Almost certainly not if the standard is equaling NGC or PCGS. Yes if it means becoming a viable second tier service.

 

As for DLRC, my unscientific survey of their world coin inventory indicates that they have good quality but I find it overpriced and would not pay anywhere near their ask prices for the coins I collect which they carry.

[CarlWohlforth]

I haven't used them yet. From what I see it looks like they have a chance to suceed and I wish them the best. It would be good for the hobby and industry to have more than 2 legitimate services - competition is good.

 

If I understand their operation correctly one thing they do is great. They photograph every coin they grade. This goes a long way toward solving the problems like counterfeit slabs, toning slabbed coins, tracking cracked out coins and others.