Who is Grade Evaluation Company?

[wchogger1-migration]

Who is this Grade Evaluation Company I've seen on some e-Bay sales ads? I recently bought a 1923 S Peace Dollar which they allege grades out at MS67 but I think is maby MS65 at best, Here's the address to the ad in question.

 

http://cm.ebay.com/cm/ck/1065-29392-2357-0?uid=695954&site=0&ver=EOIBSA080805&lk=URL&Item=130134897920

 

This appears to be some kind of 3rd world evaluation company and not one of the main stream ones to me.

 

RW

[123cents]

Welcome to the NGC forum RW. The grading company in question is not even a good 3rd world grading company. I would stay away in the future. If your coin grades as high as MS-65 consider yourself lucky.

[rrantique]

Hi and welcome to the forum

[ziggy29]

"GEC!" is what many savvy collectors say when they see cleaned AU pieces in GEC holders as MS-66.

[wchogger1-migration]

Oh yes I forgot to say, I am new to the forum, thanks for the welcome!! I'm getting back into coin collecting after a long absence and am going to slowly begin to rebuild what I had to sell 20+ years ago. I love Peace and Morgan dollars and "Walkers", those are my all time favorites.

 

I'm trying to avoid the expensive "Learning Curves" I had in my other passion, collecting Railroadiana. When I saw the ad for the coin (A 1923 S Peace Dollar) I listed in my 1st posting, I was more then a little skeptical. The phrase "If it's too good to be true, it likely IS" kept ringing in my mind. I got the coin today and am not unhappy with it but it's not what the seller thinks it is. Even if it grades a couple/three grade less the MS67, I don't think I did badly but the potential for rip off is certainly there.

 

RW

[bsshog40]

Welcome RW. As told, GEC ranks down with the rest of the garbage. I'd stay away from them unless you can get real cheap. That Peace looks to have been dipped and I'm hoping those aren't hairlines I'm seeing also. Good luck with it.

[rbrown4]

Welcome to the Boards.

 

Rey

[SkyMan]

Welcome aboard!

 

In general, PARTICULARLY while you are getting your coin "legs" back, if you are buying slabbed coins you should ONLY buy NGC or PCGS, and maybe ANACS. Treat all the other ones essentially as raw coins.

[James_OldeTowne]

Welcome to our friendly little neighborhood!

 

The coin graded "MS-67" looks like a harshly cleaned AU from the images. I would never, ever suggest buying a coin in one of those holders for the price of the grade given. The company clearly does not grade in accordance with reasonable standards.

 

Good luck, and be sure to ask plenty of questions here on the forum when considering a coin purchase like this!

[physics-fan3.14]

Hey, welcome to the forum. The coin in question looks to me, assuming that it wasn't harshly cleaned, to be MS64 at best. Honestly, the pictures don't make it look like it was cleaned, but we all know pictures lie. So, everyone makes mistakes, but you were fortunate that your mistake wasn't too costly (some members here can tell stories about how they lost thousands.)

[BillJones]

By the looks of that coin, I doubt that it's even Mint State. It looks like there is a rub in the fields.

 

But the coin is nice and shiny, and that often grabs the new collectors. Yea, these guys don't even rate third word grading company status.

 

Edited to say -

 

I noted where these guys said that the coin "Trends for $ 52,500 at this grade." And yet it sold for $62.50!

 

I guess these guys let the other $52,437.50 get away from them out of the goodness of their heart.

 

Unless you suffer from terminal stupidity this scam should be self-evident. (thumbs u

[wchogger1-migration]

Again, thanks for the warm welcome guys. Glad to be in such good company!! I'm starting to collect again VERY SLOWLY so as to not get hosed by my lack of current knowledge. In looking at this seller’s other coins, I was struck by the fact that they ALL seem to have the same appearance to them. And they all slab out to MS65 or better. I'm NOT thinking so. The Peace Dollar I got from this seller does have some minor rubbing, the letters in the motto are not as strong as they should be for the grade but I do like the coin and am going to have it regraded out of morbid curiosity.

 

Now check this "Gem" out and tell me what you guys think??

 

http://cgi.ebay.com/1945-W-L-Half-GEC-Slabbed-MS68-All-White_W0QQitemZ120143187336QQihZ002QQcategoryZ41101QQrdZ1QQcmdZViewItem

 

The "Scam Alarm" is still sounding in my mind.

 

Ray

[bsshog40]

It's hard to tell from the pics but it definately looks like it's been dipped a few times. It has some rub in the fiels in a couple place. Just too bright white for a coin of this age. JMO (just my opinion)

[wchogger1-migration]

I had the smne thought about this one and all his coins, way too white for their age.

 

RW

[James_OldeTowne]

Wow, I'm amazed that someone was this honest. Good job, whoever did the eBay listing.

 

My guess is that the walker actually is uncirculated - but only MS-63 or so. They are, of course, common as dirt in that grade. Should be worth around $30 or so.