Coin Show on TV. I call BS

[Darth Walker]

OK guys, I was watching a coin show the other day

They were offering the following at the following prices and the coin guy was stating and stating what of a great deal was to acquire the coins at the price listed there.

Some of the coins were:

NGC Proof 67 Silver Franklin Halve Dollars 1960 to 1963 at $49.00 each
PCGS Proof 67 Kennedy Halve Dollars 1964 Accent Hair Variety at $159 each.

I am sure that if I buy one of this at this supposedly great price and then the very next day
I try to sell it to my coin dealer I will loose money on it.

What do you all think?

Darth Walker

 

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[Fredness]

Ordered a 5 coins set from a "talking head on TV" and some loose ones on FleaBay - then busted them out of their "sealed holders" (all crap) and sent them in for professional grading - None of them were even close, the 5 from TV were sold as "Gem BU, MS-63 or better", one was a 60, three 61's and one MS-62. Fleabay had one of their elite sellers pimping a 1921 5 coin set the same way as MS63 to MS66, and they turned out to be AU-58, MS-62 "CLEANED". Not good....

Don't trust them, always expect 3 grades lower.

 

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[AGCoinHunter]

Ordered a 5 coins set from a "talking head on TV" and some loose ones on FleaBay - then busted them out of their "sealed holders" (all crap) and sent them in for professional grading - None of them were even close, the 5 from TV were sold as "Gem BU, MS-63 or better", one was a 60, three 61's and one MS-62. Fleabay had one of their elite sellers pimping a 1921 5 coin set the same way as MS63 to MS66, and they turned out to be AU-58, MS-62 "CLEANED". Not good....

So what grading services should you only buy? Who is the most reputable?

Don't trust them, always expect 3 grades lower.

 

[Diver_Down]

Ordered a 5 coins set from a "talking head on TV" and some loose ones on FleaBay - then busted them out of their "sealed holders" (all crap) and sent them in for professional grading - None of them were even close, the 5 from TV were sold as "Gem BU, MS-63 or better", one was a 60, three 61's and one MS-62. Fleabay had one of their elite sellers pimping a 1921 5 coin set the same way as MS63 to MS66, and they turned out to be AU-58, MS-62 "CLEANED". Not good....

Don't trust them, always expect 3 grades lower.

So what grading services should you only buy? Who is the most reputable?

PCGS, NGC, and ANACS. PCGS is the most conservative and won't even grade a cleaned/damaged coin. You'll pay the same only for it to be slabbed "genuine". ANACS will grade cleaned/damaged coins noting the condition and the net grade.

 

[Fredness]

Many do not take direct submissions, you have to go through an authorized dealer. For the cleaned or damaged coins, the company decides what happens - some ship them back in a "body bag" (plain old plastic), others encase them with the issue noted (cleaned, damaged, scratched).
I had one returned as "Details: Cleaned" (noted above) and one as "Details: Scratched" with an attribute of "Sea Salvaged".

Edit: There is an old coin collector saying - "Don't buy the grade (or slab), buy the coin" - I liked all of the coins, and expected them to not meet the grades listed.

Avoid "SGS" (not SEGS), Colonial Coin Graders (C.C.G.), HCGS (HCGSHallmark.com on ebay), and some of the PowerSellers that had a bad rep simply changed their names and started over. Ebay has a list at: http://reviews.ebay.com/Guide-to-Third-Party-Grading-Services-for-coins_W0QQugidZ10000000004417463

I've used SEGS with great results as I only grade/slab Morgans and Trade Dollars - they have some experts that do VAM's and JOH attributes, others do not.

 

[Darth Walker]

I just trust PCGS and NGC.

DW