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BEWARE OF INB/PGS and SGS CERTIFIED COINS!

by: steph3370( 424Feedback score is 100 to 499) Top 1000 Reviewer
1732 out of 1787 people found this guide helpful.
Guide viewed: 24127 times Tags: coins | lots | collections | slabbed | certified


  Obviously the better coin grading companies are PCGS, ANACS and NGC. But, there are a few that in my opinion are complete scams. The worst that I've had the misfortune of buying was INB. A certain seller here on ebay sold me a lot of coins with a value of $10,000. Or so he claimed. When I recieved the coins I was curious as to who this INB company was as I had never heard of them. Also I was really disappointed to see that this "professional" grading company sent me a 1979 sacagawea dollar graded and slabbed! That's right! the slab said 1979 Sacagawea. Now we all know that there is no such thing. The coin in the slab was a Susan B. So how professional are these guys? I researched the value of the coins(I was quoted pcgs price value by the seller) and wouldn't you know, I didn't even get my moneys worth let alone $10,000 worth of coins. Also the slabs are not even sealed and almost all of them were graded ms 70 and none of them rated that high of a grade in my unprofessional opinion. Basically I paid nearly $150.00 for overgraded poorly slabbed pocket change. The moral here is don't trust sellers who are shifting INB certified coins because they are a joke.

  Well, that was a couple of months ago now. I've been looking through eBay trying to find some good deals and I came across another company called PGS. Now if I'm not mistaken this is just a branch off of the old INB bush. They use the same unsealed slabs,  and seem to give every coin an ms 70 full strike grade. The sticker is the same inside the slab as well except that it says PGS instead of INB. So BEWARE! A good tip too when coin buying, if it seems too good to be true,(like $10,000 worth of coins for $100.00) than it probably is. Good luck in your future numismatic adventures and don't take any wooden nickels!

  Thank you to all who have read this review and found it helpful. I appreciate the messages telling me that I saved you from making a mistake or even just relating your similer experiences. Through recieving these messages another company  has been brought to my attention. This one is called  SGS.

  SGS has a lot of people who are unhappy with them if reading the discussion boards is any indication. Apparently, this is just another shameless self slabber who grossly over grades his coins. It's funny, but since having written this guide and mentioning SGS I am now blocked from bidding on this fellows listings. I guess he got a little peeved that I'm spreading the truth to so many of you folks.

  So be careful out there my fellow coin enthusiasts. And remember the golden rule when buying graded coins: buy the coin NOT the slab! If the coin looks good to you then buy it. Just make sure that you do your homework. Learn a little about grading so you can make a fairly accurate judgment on what the coin is worth. An informed buyer is a smart buyer. Pick up a copy of the the Red Book a Guide to U.S. Coins. This book will tell you basics on how to grade specific coins and what to look for when doing it. The price guide in the Red Book isn't quite spot on as the info is always several months behind. Get yourself a subscription to Coin Values. This monthly publication lists prices for over 45,000 U.S. coins, and is quite informative in other areas as well. With these tools and a little effort from you, you'll become a force to be reckoned with in the world of numismatics and you'll never get suckered into any bad deals like I did.

  Thanks again to all of you that have read my guide and have learned something from it. I appreciate your messages and votes of helpfulness. Also special thanks to the folks who messaged me in reference to me needing to update this guide. I hope you find the changes satisfactory.


Guide ID: 10000000001403705Guide created: 07/16/06 (updated 10/03/08)

 
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Related tags: collections | coins | certified | slabbed | lots

 


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