No big deal, but my first Teletrade win!!!

[TerrapinWill]

It's only an 1979 IGC PR68DCAM, for a birth year to present Proof set I am assembling (highest grade affordable).

Looks like a nice coins to me.

 

http://www.teletrade.com/coins/lot.asp?auction=2097&lot=1062

[James_OldeTowne]

You can't beat the price, either! There are a lot of great coins in ICG holders, just waiting to be cracked out .

 

James

[jom]

You can't beat the price, either! There are a lot of great coins in ICG holders, just waiting to be cracked out

 

Too funny....I just had this discussion with a "well known" PCGS board member who happens to employee of ICG this past weekend. If ICG does a good job at grading how are they ever going to "display" that fact if there slabs keep getting cracked? Not only that their "bad" coins will stay IN their holders and make ICG look even worse. This is a problem that plagues most services to some extent except PCGS....

 

jom

[TerrapinWill]

I have no intention of cracking this out. I think it will fit in a pcgs box.

[James_OldeTowne]

The most expensive coin I ever bought in an ICG holder turned out to be a fairly big problem coin for me, an 1818/7 Capped bust half. It turned IN the holder, and I had hi-resolution "before" and "after" images to prove it, not to mention the original TeleTrade image. I submitted the evidence to James Taylor, and after a couple of weeks, received the coin back with a comment basically stating that the appearance of the coin was not outside parameters typical for the type.

 

The coin had mushrooms growing on it! You could smell the toxic waste sliming all over it from a yard away! But of course, that wasn't even the point - it was the fact that it was changing colors three times a day!!

 

At any rate, I ended up busting the coin out and acetoning the heck out of it. I did end up selling it, but at a 40% loss.

 

On the flip side, I have cracked out quite a few ICG coins with great results, and have even had a couple cross over to PCGS or NGC for clients. Several of the Washington quarters in my Dansco album were in ICG holders, and I got them at affordable prices.

 

James

[gmarguli]

If ICG does a good job at grading how are they ever going to "display" that fact if there slabs keep getting cracked? Not only that their "bad" coins will stay IN their holders and make ICG look even worse. This is a problem that plagues most services to some extent except PCGS....

 

jom

 

 

It's a cycle. A nice coin in a non-NGC/PCGS slab gets cracked out to go into a NGC/PCGS slab. The garbage is left. However, there are those people who think they can get this freshly NGC/PCGS graded coin into an ICG/ANACS slab at a higher grade and sell it at a discount for that grade, but still make money. Crack and submit. It doesn't work. The nice coin is back in the ICG/ANACS slab. Repeat over and over again. Same for the NGC/PCGS coins.

[HaydenTubbs]

[jom]

The nice coin is back in the ICG/ANACS slab. Repeat over and over again. Same for the NGC/PCGS coins.

 

1. The CORRECTLY graded coins by ANACS/ICG will get sent to PCGS/NGC so that it can be sold at the higher price.

 

2. If it goes back to ANACS/ICG and does get the upgrade then it looks like an OVERGRADED coin in their holder. There is where the coin will stay...

 

3. If the coin is now considered overgraded then the trip back to PCGS/NGC won't happen.

 

This makes ANACS/ICG graded coins seem overgraded...that is a bad rep and probably the reason for #1 in the first place.

 

jom