***NOTE:***

To see a current list of what I consider to be "scam" grading

companies, and to learn more about how grading companies

compare, please view my other eBay Guides.

Thanks, Proof70.com

OVERVIEW:

There are a variety of grading companies who grade coins much higher than PCGS or NGC. As such, many unethical sellers will buy raw coins in the high AU to low MS range and resell them raw as high grade specimens to collectors who readily purchase them at high prices. The average collector cannot distinguish most low MS grades. I have MS-62 coins that "look better" than MS-64 coins of the same date and mint - unless you understand ALL the intricacies of grading AND have extensive experience at grading coins it is nearly impossible to ascertain the EXACT grade of a raw coin. And the scam sellers know this. Likewise, many of these scam sellers send these low MS and high AU coins to scam grading companies who them slab them in plastic with grades like MS-66 PL and MS-67 on coins that are actually cleaned sliders (coins that are on the AU/MS border). They then sell these coins in auction relying on the greed of uninformed buyers to consistently drive the prices up the mid-MS range ($60-$150) on coins that retail for $20-$25. Meanwhile I make $100 on a $1200 coin because all the money is going into the pockets of scammers.



 EXAMPLES:

Search "GOLD COIN" on eBay, then make your way to the US Gold Coin section, then sort the items with the highest at the top and you will quickly see that nearly every "high grade" and "high value" "certified" US gold coin on eBay is certified by either NTC or NNC. Most are advertised with descriptive monikers such "PQ" or "Choice" along with the usual claims of "GEM BU" and "MS+++".

One scam seller, who has been on eBay since January of 2003 has about 6000 feedback now in late 2008 along with an eBay Store specializing in coins. This seller specialiazes in WCG coins and always has several gold coins listed that claim to be Ultra High Grade specimens. If you want to find the coins go to US Gold Coins and search phrases like: "GEM BU UNCIRCULATED" and "BRILLIANT UNC". He uses these claims in the title of almost every listing. In reality the WCG coins he sells are often cleaned, whizzed, dipped and AU. But they are packaged in a nice bright yellow and white WCG slab with an INSANELY high grade. Most of these damaged, AU gold coins have the grade of MS-66 or MS-67 BUT for some reason eBayers always pay close to PCGS MS62 price for a coin PCGS wouldn't even put it's name on and if it did would AU-55. Yet somehow this seller remains an eBay Powerseller (something I couldn't do because my shipping time DSR was 4.4 instead of 4.5).

Another scam seller, this time using a motherly UserID with a pastry reference in the name in the hopes of comforting buyers, has been on eBay since May of 2003 has about 5000 feedback now in late 2008 - she does not maintain an eBay Store. This seller specializes in Morgan Silver Dollars in the MS-60 to MS-64 range. These coins he/she labels as things like - and I quote: "MS PQ GEM STUNNER", "MS PQ SATINY GEM STUNNING", "MS FROSTY PL TONED MAGNIFICENT". You can't make this kind of stuff up. Yet somehow he/she still manages to unload dozens of these low MS coins as high MS prices every week for years while still maintaining nearly 100% feedback (99.9% as of 9/08) along with PowerSeller and "Top 5,000 Reviewer" status. I wonder if his/her reviews are like mine? I doubt it. Even when he/she sells certified coins (NGC usually) he/she calls them SUPER PQ and PROMISES that the coins are ACTUALLY PL or Undergraded - and somehow the dupes actually obey and often pay MORE than the PCGS MS-65 price for an NGC MS-64. I am at a loss to explain this but he/she consistently pulls it off and the suckers actually give her ++++ feedback after! Maybe if I change my UserID to PumpkinsDaddy or something like that, then I will have the success he/she seems to have!

* If you look on the right side of this page, below where it shows two of my items, you may see some coins that are like those I have described!  ; )



THE HUSTLE:

Most often the higher value coins are listed using the 'Buy-It-Now' format with the 'Best Offer' option selected. The sellers then set the price of their scam slab at the PCGS "Book Price" and wait for the new collector's looking for an impossible deal. The sellers generally sell the overgraded coins for the PCGS price of a low MS coin. In fact, the coin the buyer receives is nearly always cleaned, whizzed, dipped or significantly overgraded.

On coins under $200 the scam sellers seem to prefer selling raw overgraded coins or scam overgraded slabed coins at AUCTION format. The usually start the auction AT A LOW PRICE and USE LISTING UPGRADES SUCH AS BOLD, BORDER AND FEATURED LISTING (which places their ad at the top where the new buyers look). They then claim the AU+ coin is a MS65PQ++++ and wait until the new buyers bid the coin up to 5 or 6 times the value of the coin they will receive after the dust settles.

Sadly, experienced coin sellers (such as myself) know that you can buy a NGC or PCGS AU-58 or MS-60 on eBay, cut it out of the slab, send it over to one of the other "smaller" grading companies and they will send it back certified as an MS-66 or MS-67 and then the new buyers will pay the MS-63 or MS-64 price on an AU-55 (CLEANED) coin. 



CONCLUSION:

Think about that before you buy ANY coin that is NOT certified by PCGS, NGC or ANACS (in that order). ESPECIALLY for high value coins unless you have large clear pictures and extensive experience grading that type of coin.

If the coin is not from PCGS, ANACS, NGC, or ICG - odds are it has been overgraded. For modern coins - ONLY PCGS COINS GET PCGS PRICES. NGC coins usually come close. ANACS and ICG coins do not. 



HOW YOU CAN HELP:

THESE GUIDES ARE SO IMPORTANT TO NEW EBAYERS, AND SO DAMAGING TO THE SELLERS OF THESE OVER-GRADED COINS, THAT THE SELLERS OF NNC, NTC AND THE OTHER NO-NAME GRADING COMPANIES HAVE RESORTED TO VOTING AGAINST MY GUIDES AND WE BELIEVE THEY HAVE EVEN PURCHASED SMALL ITEMS FROM US TO LEAVE NEGATIVE FEEDBACK.

PLEASE HELP US BY PURCHASING OUR ACCURATELY GRADED COINS FROM US IN OUR EBAY STORE AND VOTING FOR THIS GUIDE! HELP US KEEP EBAY SAFE!!

WE GET NOTHING FOR MAKING THESE GUIDES AND IT TAKES HOURS OF RESEARCH (AND I TYPE SLOW)! WE JUST HATE TO SEE PEOPLE GET RIPPED OFF!

SEE MY OTHER HUGELY POPULAR EBAY GUIDES FOR MORE COIN GUIDES!!

Thanks!

Proof70.com




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JULY 2007 UPDATE:

THE LAST 4 VOTES HAVE BEEN NEGATIVE! THAT MEANS 40 OUT OF 41 PEOPLE LIKED THIS GUIDE AND THEN A SELLER OF NNC OR NTC COINS FOUND THE GUIDE AND IS COMING BACK EVERYDAY TO SABOTAGE THE VOTE TOTALS!

THINK ABOUT THAT!

NTC AND NNC SELLERS ARE SAD THAT THEY CAN'T SCAM NEW EBAYERS LIKE THEY COULD BEFORE I MADE THIS GUIDE!

OH WELL TOO BAD!

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SEPTEMBER 2008 UPDATE:

IN JUST OVER ONE YEAR THIS GUIDE HAS BECOME AN EBAY CLASSIC WITH NEARLY 5,000 VIEWS - AS A RESULT, THE NUMBER OF NNC AND NTC COINS ON EBAY HAS DROPPED DRAMATICALLY.

BUT OTHER COMPANIES SEE THEIR CHANCE AND ARE PICKING UP THE SLACK: THE SCAM CONTINUES.

SEE MY OTHER EBAY GUIDES FOR THE LATEST ON THESE NEW SCAM COMPANIES AS I TRACK THEIR PRESENCE HERE ON EBAY IN AN EFFORT TO KEEP BUYING COINS ON EBAY AS SAFE AS POSSIBLE.

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