Who is Grade Evaluation Company?

[DC Dawg]

After seeing eBay posts like these, I may get into the coin grading business. Buy some off the shelf slabbing materials, create a nice looking label, add a hologram, and I can separate a fool from his money!

 

Scott

[rrantique]

After seeing eBay posts like these, I may get into the coin grading business. Buy some off the shelf slabbing materials, create a nice looking label, add a hologram, and I can separate a fool from his money!

 

Scott

 

Thats Dispickable as Sylvester would say

[astrostu]

Yeah, there's no way that's an MS-67 using any "standard" grading rules, and it looks dipped at the least.

[lkenefic]

I was at my local shop today and someone came in with a 1910 Lincoln in a third-world slab...NUC or something like that...graded MS66RD. The dealer behind the counter was gracious in trying to let him down easy. He told hi it wasn't MS66 and then handed the coin to me...it was an AU58 at best. The guy said he paid $20 for it.... not bad for a $10 coin...L

[Zoins]

What ever happened to WaxonWaxov, our momentary self-slabber? The board seems quieter somehow.

[jgrinz]

Its a company run by GEEC's

[Zoins]

GEC uses the same slabs as CSI and another third-world grader.

[dooly]

Hi scott

 

there are a lot of this type turning up on German eBay at the moment

[Connecticoin]

After seeing eBay posts like these, I may get into the coin grading business. Buy some off the shelf slabbing materials, create a nice looking label, add a hologram, and I can separate a fool from his money!

 

Scott

 

Biggest coin scam on eBay. "Aboncom" has 50,000 happily screwed customers and counting!

[DC Dawg]

Shortly after I posted my note, I sent the seller a message. I asked about the TPG, who they are, what guarantees they offer, and what his return policy was if I was not satisfied. I never received a response--and the auction is over. The coin sold for $31. That's about average for a raw, low MS price... maybe slightly high, but not bad. At least someone did not get ripped off!!

 

"A fool and his money is lucky to find each other in the first place!"

-- Gordon Gekko

 

Scott

[Boom]

If the guy would be anywhere in the ball park that would be one thing but to purposely make his slabs to look like someone else's and to grade like a kindergarden student is ridiculous.

[lkenefic]

These fly-by-night companys are hurting the hobby...also...it doesn't help that the top three are seemingly having growing paigns as well. I read a thread ATS where someone was playing the crack-out game with PCGS. The double eagle went from MS64...to BB'd for AT...to MS63...and back to BB'd for cleaning. I don't advocate doing this unless you have a ton of money that you really don't want... but the lesson serves to underscore that there is an inherent problem with the system...namely consistency.

 

L

[Zoins]

Yep, all kinds of coins in all kinds of slabs can be risky to crack out, well maybe not third-world slabs, since you can just put it into another third-world slab. Is it safer to crack out a third-world slab than classic gold in PCGS?

[lkenefic]

I'd say exactly the opposite. It's probably safer to play the crackout game with PCGS or NGC graded gold, but I leave this to those with much deeper pockets than I. Third world slabs are OK if you simply just grade the coin and ignore the sticker and pay accordingly. The fellow that entered my local B&M shop the other day thought he really got a rip on an MS66RD 1910 Lincoln at $20 but the coin was no better than 58...something I'd only pay about $10 for. I just wonder how many "collectors" there are out there that believe they're amassing a significant collection while in reality they're being duped by these low-lifes that are slowly ruining our hobby....sorry for the rant...L