After reading the article about the problem with over-grading Coin grading services such as NNC and SGS, it reminded me of my purchase experience on EBAY.
The coins that I bid on and won were a date and mint run of Washington Quarters 1950-D through 1959-D. All graded by SGS as MS 70!! I really knew they couldn't be, but it was worth the $30 gamble to see. Up until then I had not heard of SGS. Upon receipt of the coins, I gave them a quick visual. With over 40 years as a coin collector/investor/speculater and concentrating on Washington Quarters, I knew at a glance they definely were not MS 70!
Out of 10 coins received, they all ranged from MS 62 to MS 64 ( only one was a 64). Of course I sent them back for a full refund, minus shipping both ways.
As to NNC, I had never bought a coin from them until a few days ago. Again as an experiment, I bought a 1963 DCAM Proof 69 Quarter. Now don't get too excited! I only paid $15 for it. I am yet to receive it. It was mailed yesterday per the seller. It did look real good in picture on EBAY. I expect it to probably grade a 66 or 67. In DCAM 67 PCGS list for $100. I will probably send it to NGC. I will let this thread know what the regrade turns out to be if I don't send it back to the seller first.
The coin came back yesterday. I was astounded! NGC graded it Proof 65 Cameo!!! Down 4 grades and a lower Cameo designation! Talking about conservative! What a difference! The coin looked pretty good to me, but....! I don't want to say which grading service they are working for but Ray Charles and Stevie Wonder must be grading at one of them! Maybe both! LOL Now the question is do I send the same coin to PCGS??? [Chuckle]
I guess the crux of this review is be very careful and remember,"If the coin in question is such a high end coin why is it not being sold to the big dealers that you see in the publications for 10's or 100's of thousands of dollars??? 'til next review
Regards Paul
Orignal From: Beware of MS 70 coins graded by SGS
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