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ACCGS Coins

Started by Proudtoown,

9 posts in this topic

Proudtoown

Proudtoown

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Has anyone had any dealings with ACCGS coins? How is their grading? I am looking at purchasing an $5 liberty so if anyone knows how their grading for gold coins is, please let me know.

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LuvToCollect

LuvToCollect

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I have heard the same but as I am prone to do stupid things myself from time to time at the right price. Amazingly some times I hit the stars in the right allignment.

I just recently bought a Ms 70 set of SGS coins at mint issue price so you never know. I know it was stupid but if one of the coins will get to 69 it is as good as buying a set from the mint.

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DC Dawg

DC Dawg

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Agree. Do a little more research before purchasing thumbsup2.gif

American Coin Club Grading Service (ACCGS) can be found at www.accgs.org. According to their website:

At the Quarterly meeting of the American Coin Club on June 1st, 2003 much discussion was held concerning the May 23rd Coin World article and investigation of all the major grading services. In not one single case, did the grading services agree on a single one of several coins submitted to each service over a period of several months. In response to this, a grading committee comprised of a group of volunteers from the Beverly Hills Coin Club decided to get together and form ACCGS - American Coin Club Grading Service

There is no listing of "who's who" as part of this service. All I found was their "About Us" page that says:

Professional Grading and Authentication by Experts who have no vested interested in your coins. - Some other grading services use dealers who know when their friends and associates send coins in, despite claims of submissions being anonymous.

 

There's something about their descriptions that sound very suspect to me. There are other statements that worry me, like "The goal is to be both conservative and fair, and to grade both sides of the coin instead of "averaging out" one final grade based on both sides. It was repeatedly brought up during the meeting that such "averaging" cannot approach objectivity" and "Another complaint about the grading services involved the behavior of "net grading". This is the erroneous practice of grading a coin not by actual wear, but based more on commonly seen characteristics of older coins, such as porosity, hairline scratches, cleaning, etc." sounds like an agenda that is more marketing than best practice.

 

It is said that you should, "buy the coin and not the slab." If you buy coins certified by these folks, you should feel comfortable with your purchase. Make sure that you have a guarantee and return privledges. If you do buy the coin, take it to a reputable dealer for a second opinion.

 

I bought a 1981 Clear S Susie B Proof that was slabbed by a TPG I had never heard of before. It was an eBay auction and I made sure that all of my questions were answered by the seller. Once I was comfortable, I bid on the coin. When the coin arrived, I had a dealer verify that the coin was genuine and the grade was in the ballpark of accurate. I respect his opinion and he was satisfied that it was genuine... I was happy. I ended up cracking the coin out of that slab, but I have the coin and placed in the album with the rest of my Susie B set!

 

Whenever we have these discussion on the buying and selling of coins, I aways add Caveat Emptor, Buyer Beware, to my posts. I highly recommend that you do what you need to do to feel comfortable with your puchase, regardless of the holder the coins comes in. Good luck!

 

Scott hi.gif

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