Bogus Grading Services

Be extremely careful when purchasing so-called "graded or encapsulated" coins.  MS70 is an unattainable grade for most coins.  Please view the so-called graded and encapsulated coin below.  I made the bogus label on my computer (UPC bar code and all) in about 10 minutes.  I could probably list this coin on eBay and get a lot more than it's actually worth.

Buyers should stick with PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation).  If you are new to this hobby, YOU MUST READ THE FINE PRINT in the listing.  Pictures can be deceiving.  If the seller doesn't specifically state that the coin has been graded by PCGS or NCG, it's probably a look-a-like holder.  Also, any company that grades early issues of U.S. coins MS70, should be highly suspect.  For instance, PCGS has never graded a 1943 steel Lincoln Cent MS70.  In fact, they've never even graded one MS69.  So, when you see a company that uses stock photographs and grades all of their coins MS70... if you elect to buy their product, understand what you're getting.  Finally, two additional grading services deserve mention, ANACS (the American Numismatic Association Certification Service, the oldest service) and ICG (Independent Coin Grading Company, the newest service).  Ebay has strict rules regarding the use of MS (Mint State) in the title of a listing.  If you're listing a coin that has been professionally graded, you're allowed to do so.  Therein lies the loophole.  Create a bogus grading company and list away.  Ebay does not define what constitutes "professionally graded".  That's why you see so many encapsulated (slabbed) coins, by bogus grading services, with the lofty MS70 grade affixed to their label.  These bogus companies go to extremes to mimmick PCGS and NGC labels.  They add phony UPC bar codes and cheap hologram labels to make themselves appear legitimate.  Worst of all, they list the PCGS Price Guide's price as the value of their coin (again, against eBay policy).  In closing, stick to the top four (PCGS, NGC, ANACS, or ICG) to assure your investment is worth what you paid.