What's wrong with the Grading Companies?

[liveandievarieties]

Eric raises a fantastic point- I've seen FRESH fingerprints on the obv and reverse of my Gem freshly slabbed coins. Now explain that????

Even had debris and hairs sealed inside the slab.

[Wayne]

Grading companies suck

well i will NOT be sending any more coins to the "big" guy.
i sent in 8 Franklins that should be least MS65FBL (and maybe 2 at MS66 I thought)
Several opinions from Franklin people all said MS65 for these coins with a couple of + or MS66 in the lot.
results:

1 1 24332500 6679 1960-D 50C USA Genuine - Poor Details (98 - Damage or Tooling)
1 2 24332501 6679 1960-D 50C USA MS64
1 3 24332502 86679 1960-D 50C USA MS63FL
1 4 24332503 86679 1960-D 50C USA MS64FL
1 5 24332504 6679 1960-D 50C USA Genuine - Poor Details (98 - Damage or Tooling)
1 6 24332505 86679 1960-D 50C USA MS64FL
2 1 24332506 6683 1962-D 50C USA MS64
2 2 24332507 86683 1962-D 50C USA MS64FL

It's like they wont give you the MS65 because the difference in value between MS64 and MS65 is over $400.00

and futhermore...these coins came from original bank wrapped rolls from a VERY VERY reputable dealer.I inspected them and have no freaking clue as to what these crack addicts are talking about....Damage??? Tooling?? are you kidding me???????????These are PRISTINE BU untouched,unmessed with original coins.

A 1960-D in MS66FBL is valued at $6,900.00 and a 1962-D MS66FBL is valued at $6,000.00

It just feels like only the "connected" people get the higher grades.

[liveandievarieties]

I don't think you're wrong Wayne, sorry to hear. I've had similar experiences that have left me wondering what toddler they employed to grade. Big game.

[1sgret]

That is a Bummer Wayne.

[Maineman750]

Wayne, there is a way to prove what you've just stated...might take a little bit of time,money,and the right people.But it could be done.

[Wayne]

Heres another example

I had sent a Mercury dime in to NGC for personal inspection by David Lange.
He emails me and says he has it on his desk and that he inspected the coin and says its an amazing strike off fresh dies and that the color is normal for this coin and what you would expect to see.So.....then off to the grading dept.
The crack addicts then body bag it for color!

I send David an email about the results...now David is a Merc expert and has written books on Mercs....he says:

once it goes to the graders,its out of my hands.....HUH????

you personally certify that the coin is naturally colored but the graders win that argument?
That was the last coin I ever sent to NGC.

There were 1916 dimes that were released by the mint for testing and sent to payphone and vending machine companies.The coins failed because of a heavy rim fin and jammed the phones and machines.Not all were returned to the mint for melting and there was a possibility that the coin could be one of the unreturned test coins.So David wants to see it.OK....Pay membership fee,shipping,Insurance,grading,return shipping...etc...

He gets the coin and says "it COULD be but I cant certify that" well if you cant certify that,then WHY did you make me send it to you? You are supposed to be the mega Mercury expert....yeah OK...light up the crack pipe.

NGC= Narcotics+Grass+Crack

[amosamos16]

Wow, this are horror stories. Complete incompetence!!! And the expense of sending it out, shipping, insurance. It almost criminal.

[Maineman750]

WHY did you make me send it to you?

Easy answer...."MONEY"

[mustbebob]

Here again are some of the horror stories surrounding TPG's. I have never, and will never send a coin to any of them. That is my own choice. I do have some coins in slabs, but hey were either traded for or slabbed for me by other folks. The stories seem to get worse every year. Next thing you know a coin will be body bagged with a description of 'Something just ain't right with this one"

[BadThad]

Wow Wayne, that really bites!

[Amadauss]

Bitch bitch bitch, all of you complaining over and over again about how you got f____d. Lets stop going to the grading companies, lets boycott, lets lets lets.........

I'll tell you what you all need to do. You have some of the brightest and knowledgeable people on this site I have ever seen and I have trolled through several coin sites. You are all missing the boat and it has a wide open lane right now to the top.

START YOUR OWN GRADING COMPANY!!!!!!!

It would be easy. The real trick is marketing it. The competition has no clue except for PCGS and even those guys now think they are gods and ripe for the picking. If you can establish a great business and marketing plan on how to go about getting out there to the public, its a win win. You have to be able to understand marketing concepts and how to create interest. Today and the future, its mostly on the web and setting up a very attractive booth at several large coin shows. The greatest part is email will get the company name out there as well as creating links to the social sites like facebook and others. With the Internet, you have to know how to get in position so your site gets the hits. You have to be listed as one, two or three on google when someone searches anything related to coins and grading. Its not hard to do and that part is free.

So stop bitching, sign some non disclosures so everyone can discuss without fear of the idea being stolen and get going.

I will be the marketing manager.

[liveandievarieties]

I don't think that's a solution of any kind Mike. I'm a coin dealer- I do it because I love coins. I buy and sell coins, I don't want to go into the plastic business.

All I want is accruate service and grading- it's what I pay thousands of dollars a year for and often don't get. If I get a crappy Big Mac, I may complain about it, but I don't want to go into the fast food business.

Simply want the companies to do what they offer- accurately grade and attribute coins.

[Coppertop]

If I get a crappy Big Mac, I may complain about it, but I don't want to go into the fast food business.

I think you have to pay for them to "throw some cheese on it " sad to hear these stories but good to be able to read about them

[BadThad]

Bitch bitch bitch, all of you complaining over and over again about how you got f____d. Lets stop going to the grading companies, lets boycott, lets lets lets.........

I'll tell you what you all need to do. You have some of the brightest and knowledgeable people on this site I have ever seen and I have trolled through several coin sites. You are all missing the boat and it has a wide open lane right now to the top.

START YOUR OWN GRADING COMPANY!!!!!!!

It would be easy. The real trick is marketing it. The competition has no clue except for PCGS and even those guys now think they are gods and ripe for the picking. If you can establish a great business and marketing plan on how to go about getting out there to the public, its a win win. You have to be able to understand marketing concepts and how to create interest. Today and the future, its mostly on the web and setting up a very attractive booth at several large coin shows. The greatest part is email will get the company name out there as well as creating links to the social sites like facebook and others. With the Internet, you have to know how to get in position so your site gets the hits. You have to be listed as one, two or three on google when someone searches anything related to coins and grading. Its not hard to do and that part is free.

So stop bitching, sign some non disclosures so everyone can discuss without fear of the idea being stolen and get going.

I will be the marketing manager.

The grading business is nearly impossible to get into these days. Just google Dominion Grading Service. DGS was an EXCELLENT grading service with variety, expert attributions available.....I think Chuck was even doing some work for them. They gave it a go and then failed.....it was really a shame!

[jallengomez]

The grading business is nearly impossible to get into these days. Just google Dominion Grading Service. DGS was an EXCELLENT grading service with variety, expert attributions available.....I think Chuck was even doing some work for them. They gave it a go and then failed.....it was really a shame!

I agree with Thad. Starting a new company and plowing ahead to the top tier would take some major resources and start-up capital. You'll also have to knock down the doors so that the major auction houses accept your slabs. I think a company that specialized in varieties and errors might have a better chance than a general grading service upstart, but it would still be a most a difficult venture.