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Thread: New Grading Requirement for auctions!?!

  1. #1

    Default New Grading Requirement for auctions!?!

    So I get this message emailed to me from one of the auction sites that their policy on selling coins is changing.....

    "First, listings for coins will be allowed to include a numeric grade in their listing title or item description only if the coin grading company meets certain objective standards.* Coins that haven't been graded by these companies will be considered raw or ungraded. Currently, TheBay has determined that only the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS) meet these standards.
    Second, for US Coins only, grading by companies meeting these standards will now be required for all coins listed with a Buy It Now, reserve, or start price of $2,500 and above."

    I can't believe they are going to require coins with a start price higher than $2500 to be graded! That is complete BS. So what's gonna happen when the spot price of gold is $2500 and you want to sell a bullion AGE? I guess they want us to grade our bullion coins now. I wonder if the grading companies had anything to do with this.
    Last edited by FelixWankel; 04-17-2012 at 10:40 PM.

  2. #2
    Join Date
    Mar 2009
    Posts
    11,759

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    Interesting news Felix. Guess they've been stung to many times.

    So much for the rarer type 1 oz'ers ungraded. Lots of Pandas ..and other as well fetch more that that..USA High Relief in original case for another example.

    Fractionals.."here we come".

    I can foresee Stacks and Heritage taking advantage of this.
    ...be your own Health Care System... grow your own and eat well

  3. #3

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    theyre likely just sick of dealing with all the disputes from people who thought they really were getting a 1796 silver dollar ms 63 for 85$ or whatever dumbass deal of a lifetime from china they thought they were getting.. its understandable, really dumb people need protection from themselves..
    what you say and think matters, but its what you do that counts
    improve always

  4. #4

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    PCGS and NGC haven't allowed crossing of anything in ANACS, ICG, etc holders for awhile now so those companies are on the out anyway. I also believe ANACS is owned by a sleazy shop at home tv network too so how legitimate are they anyway.

    These new coin policies on ebay are coming from a board of PNG advisors that ebay has been using. Those PNG guys, ie dealers are pretty tightly aligned with the two top TPGs as we know so none of this is surprising.

  5. #5

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    I think this is just in the Numistic coin section, not for bullion.

  6. #6

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    Quote Originally Posted by JohnRav View Post
    I think this is just in the Numistic coin section, not for bullion.
    I hope you are right! I guess time will tell.

  7. #7

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    Spot can be $10,000 and you would not be required to have the coin graded. What they mean is that it must be graded if you want to place it as a buy it now or with a reserve starting at $2,500. If you start the coin at a BIN of $2499 or 99 cents and let the auction run its course then even if it goes over $2500 you would not be required to have it graded. The $2500 is only a requirement for coins being auctioned off asa BIN of $2500 or higher or a startying reserve of $2,500 or higher
    Get a hobby. Preferably one that doesn't involve spending money.-- Prospector

  8. #8
    Join Date
    Apr 2015
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    5

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    Agreed on ANACS. They ripped me off for grading fees on 32 Canadian coins. They are the worst at customer service. I believe ICG tries and has far better service and turn times, but you can't beat NGC for all-around value, especially at resale. I think ANACS own Collectons also, and sells their own coins out of that website.

  9. #9

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    Quote Originally Posted by FelixWankel View Post
    So what's gonna happen when the spot price of gold is $2500 and you want to sell a bullion AGE?
    In that instance, instead of listing the AGE under the coin category, you list it under bullion, where I don't believe the same requirement exists.

    This does not solve the issue for Saints and Libs.

  10. #10

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    Read the new rules more carefully.

    It says that you have to use one of those two companies grades if you desire to put the numerical grade into the coin description.

    It does not say that if you had an uncirculated age, and wanted to sell it you have to go out and have it graded first. It just says you can't put an off companies grade into the description.

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