Are Coin Grading Companies Scams ??

Are Coin Grading Companies Scams ??
Coin grading companies are good for giving a grade estimate, versus a coin dealer or a seller grading their own coins. Third party coin grading companies are great for authenticating coins, and creating the rare coin market.
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[macarioacosta]

Daniel, great video especially for me, a rookie, who is learning from each of your videos. I appreciate your honesty and visuals. Our community needs to educate ourselves so we know what to expect. I think the grading companies need to be honest with us and themselves. There are good things and bad things with everything. God bless you

[mostwantedcoin]

Hello Daniel, good subject: The World Coins Collectors, including me, do not need a grading company. What it really needs is an authenticator company; to make sure the currency /coins are real, not counterfeit that is it. Leave the grading work for buyers and sellers; they have eyes that can make those buying decisions. The uniqueness and historical significance of the currency should be the focus, and that is the true value.

[GenXstacker]

As a collector of ancients for 20 years, the first thing I do to any slabbed coin is free it from that awful plastic slab so I can enjoy it properly.

Coin grading is for investors, not numismatists. It's for people who want someone else to tell them a coin is great rather than just looking at it with your eyes and seeing what it looks like. It's a marketing gimmick.

[michellemccanna]

U are so loved and appreciated! Thank you!

[kristinebailey]

Daniel I agree a standard should be created across the board. I've never had anything graded because for me it's very confusing with how paperwork reads . And I'm not familiar. So if I were to send in coins it would be for authentication purposes and not grading purposes. Great video Daniel!!!

[toffermac]

Great video, I agree it may seem a bit crazy with differences between grading companies, but we are in a better place than when everyone was grading coins. I have an old holder from a now defunct company out of Costa Mesa, CA - International Numismatic Grading and Consulting Lmt. (INGC). They had their own grading scale with a conversion on the back to the ANA scale.

[Looey]

Not even half way through your video and it is very good. Thank you very much !
There's the grading from the companies, but there is how much they are worth to the owner. I had a large cent whose color was a beautiful brown.
Regarding large US notes. My grandmother used to fold her bills a certain way, and I think it was she was used to folding the large notes in the same way: Along both axes.

[Penny_Man_of_Mo]

That is a wild story. I'm not a graded coin guy, but those are obvious fake slabs. I'm a bit shocked the deals didn't pick up the ruse when the second came in. I'd like to think I would have spotted the first, but everybody have their guard down on occasion.
Great video... THX Daniel!!!

[williamhoward]

Thanks for the breakdown! Very informative! Enjoyed it!

[Steve-lqdt]

I think that’s an honest assessment. The potential problem that I see is one or two companies controlling the value of coins. How many times have we all seen two of the same new coins, i.e. the new flowing hair gold coin, two identical looking coins, one graded PF70 the other PF69.
IMO they are limiting how many coins are MS or PF70 although they may be virtually the same. And impacting the value of someone’s coin.
There’s really no recourse once it’s graded.
In addition to industry standards, I think the company should state why a coin graded a certain grade, even if that meant it took a little longer to grade and they charged a little more.

[RealtorInThe]

Great subject and insight Daniel, thank you for sharing. You are so good for our hobby.

[JohnLaRue-zpuj]

Great commentary Daniel! I am fully behind you on this one. Create a "Set In Stone" Grading criteria, equal across the board, and let the grading companies sell themselves as well as the coin. Great job and thank you!

[grumpytinatoys]

I took a beautiful Mint Condition coin to a company that supposedly grades coins here in Toledo Ohio and of course I had my gloves on I pulled it out put it on the little felt pad and this guy reached for it with his hand and he had no gloves on I yelled at him to stop and he did and then he asked me what the problem was. I told him he was about to grab a mint condition coin with his bare hand and probably leave a huge fingerprint on it. I was kind of pissed so I left a review saying that their service of grading coins is questionable. I have been watching your videos for quite some time now and you seem like a very reputable dealer. I wish I was closer so I could have you take a look at my coins. You should develop standards for the industry, and I would be more than happy to help you Market that service because you clearly know what you're talking about. Thank you for all of the information you provide.

[gd]

First of all I want to thank you for your wisdom that you are sharing with us I just found your channel. I've been saving coins All my life so I have insane amount of them started in early 70s rarely spent any of them now I'm trying to figure out what I have

[robertseymour]

Coin grading companies create artificial demand and turbo prices via the top pop coins they 'grade'. When you have only one example of a modern coin 'graded' at say MS68, it can bring a phantasmagorical price at auction, not because of inherent value, but because of artificial supply and speculation created by the 'industry'. This turns coin grading into a lottery crap shoot, where coin grades are sliced like sushi into half grades. Hair splining grades are bestowed subjectively for market preference and consumeristic trends, like toned coins, and not actual mint condition. The result is Wall Street numismatics for cash, not collecting like it used to be when I was a kid.

[william]

I wish we lived close by because when you talk it reminds me that God is still with us in this world my brother for a good person does no harm to their neighbor and when I was growing up people cared about one another and were much more honest like you are. 👍

[IHonorWhoIAm]

Good video!! I have graded at ICCS. They are fair, trustworthy, fast, and honest. Thank you Daniel. At PCGS, I have heard that a lot, has to do with them, keeping the high numbers down ⁉️ Which translates into this, let's say, if there is a coin graded at MS 70, the market doesn't want, a 100 of those on the market because it will lower the price and the uniqueness. I don't know, if that has to do with politics or biased ⁉️

[jim]

I think that CAC should have stuck with sticker only. I spoke with a CAC rep. a little while bacl and told them so. They told me that they began slabbing coins so that when you submit a coin, you're assured of getting a green bean because it is incorporated within the holder. This is a conflict of interest in my opinion. This might take business away from the big three because now a submitter is shopping for the sticker. Just my thoughts. Great video as always.

[tjmmcd]

Both PCGS and NGC are PRIVATELY owned companies. There IS NO license nor certification issued to so-called professional coin graders. This is why you can get different grades on the exact same coin, depending upon which company evaluated it. In fact, I've heard people say they submitted the SAME coin to the SAME grading company at different times and received different results. The GRADING of a coin or round is almost completely subjective, based upon the particular evaluator.

[JuantobonEcheverry]

Excellent video and very educational for everyone