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O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 12:18 am
by CascadeChris
What the 🀨

Discuss... 🀨🀨🀨

https://www.ngccoin.com/news/article/75 ... -launched/

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 12:39 am
by PacificWR
PMG will to (for those folks that collect currency). It cost extra.

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 1:11 am
by vamsterdam
Will they misattribute them for free too?

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 1:15 am
by CascadeChris
vamsterdam wrote: ↑
Thu Jul 11, 2019 1:11 am
Will they misattribute them for free too?
Burn

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 12:57 pm
by messydesk
I like the grading scale:

Likely Low Circulated (1-35), Likely High Circulated (40-58), Likely Uncirculated (60-70), Likely Proof (60-70)

While the sawed-off shotgun grading scale is sometimes all that's appropriate for some auctions, it doesn't do much to inform a bidder. Also, many of the auctions of fake stuff are short enough that the turnaround of 2 business days is not an option.

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 3:02 pm
by messydesk
CascadeChris wrote: ↑
Thu Jul 11, 2019 1:15 am
vamsterdam wrote: ↑
Thu Jul 11, 2019 1:11 am
Will they misattribute them for free too?
Burn
I believe you wanted this:
Image

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 3:09 pm
by bob259
I'd like to get in on that gig. Making 5 and 10 dollars for such a general guess without being held responsible. Great gig.

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 3:59 pm
by morganman
Another ploy to take folks money- leaving them with nothing for efforts
NGC= IMHO from experience- INEPT PERIOD

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 4:08 pm
by TheYokel
This is just as much about being a deterrent as it is about actually giving general grades on something.

I've seen at least one store snatch everything down while they find a way to relist their dubious claims about their coins without getting the NGC treatment on every sale.

And as a member of NGC, i kinda like it.

There are a lot of coins i don't know a lot about that i would like to get into collecting, and just having the "genuine" seal for $5 is a weight lifted on some purchases....

...plus the $5 comes off my grading fee when i submit the coin... So it's just a safe-guard for me.

Even people shopping for something like a 16-D merc will appreciate the $5 fee to know it's real and not altered...

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 4:14 pm
by messydesk
bob259 wrote: ↑
Thu Jul 11, 2019 3:09 pm
I'd like to get in on that gig. Making 5 and 10 dollars for such a general guess without being held responsible. Great gig.
In all fairness, they do credit the fee against grading, but it seems like the people that will be buying raw coins on eBay that should be certified will have a more precise assessment of the coin before they buy it. It's not like a beginning collector is going to pay $10 for NGC's opinion of a VG 1905 Indian cent. Of course, maybe I'm giving both types of eBay buyers far too much credit, in which case it almost seems like NGC is exploiting them.

One thing they don't say they attempt to assess is whether or not the coin has problems, nor would I expect them to, as those are often hard to see and/or easily hidden from buyers. Buying a coin on NGC's recommendation, only to submit it and find out it's cleaned long after the return period ends won't put a good taste in anyone's mouth.

Perhaps NGC is trying to make up for their fading social media presence here. Consider that while PCGS and CoinTalk are probably the busiest message boards, even VAMWorld has a busier forum than NGC. People that are familiar with these social media platforms know how to get more fine-grained and detailed opinions on a coin for free now and then, and in the process learn about what they're looking at if they pay attention.

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Thu Jul 11, 2019 4:38 pm
by TheYokel
messydesk wrote: ↑
Thu Jul 11, 2019 4:14 pm
bob259 wrote: ↑
Thu Jul 11, 2019 3:09 pm
I'd like to get in on that gig. Making 5 and 10 dollars for such a general guess without being held responsible. Great gig.

One thing they don't say they attempt to assess is whether or not the coin has problems, nor would I expect them to, as those are often hard to see and/or easily hidden from buyers. Buying a coin on NGC's recommendation, only to submit it and find out it's cleaned long after the return period ends won't put a good taste in anyone's mouth.
.
True, but they give a refund if they come up inconclusive.

You won't pay $10 for "we don't know"... They'll refund the $5 if they can't tell it's genuine and the second $5 if they can't give a general condition opinion.

I honestly don't even understand why they are giving an option for a possible grade. That's opening themselves to.so much backlash... Especially considering that it will likely only be higher-valued coins getting prelim checked...

The first key-date to get "Likely High Circulated" only to later get hit with "Details - Cleaned" will be posted all over every coin message board online. They won't have to worry about a lack of social presence if that happens lol :lol: ...

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Fri Jul 12, 2019 12:16 am
by blh74
Here is "How to make money 101" Take a photo and determine ??? I do not think so.

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Fri Jul 12, 2019 2:12 am
by LateDateMorganGuy
Interesting.

I agree with Ant. I see this mostly as a possible way to deter folks from listing fake coins, especially from the China Syndrome. I do think there is a segment of coin buyers on Ebay that will might use it after they get burned by a purchase or two until they get educated and can pick out problem coins.

But knowledgeable folks won't fall for it or need it.

This will not be a windfall of revenue for NGC IMHO.

Re: O/T... NGC will give you opinions on raw Ebay coins for a fee...

Posted: Tue Jul 16, 2019 2:38 pm
by vamsterdam
I heard a number of people(dealers)discussing this at the fun show last week. There are pro’s and cons(hmm, are there two meanings here? Just caught that as I was writing it). But stating grade opinions on online pictures is probably as in accurate as they are in person at shows. How many times have I had graders look at coins at shows and they came back radically different than what I was told?