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Thread: Visiting the ANACS booth at a coin show ...

  1. #1

    Default Visiting the ANACS booth at a coin show ...

    Over the weekend I stopped into the Long Beach Coin and Collectables Expo. One of the many things I wanted to do on this trip was visit the ANACS booth. The reason was to complain.

    You see, I submitted a Capped Bust Half for grading several months ago. It came back graded "AU-50 Details". I was sure this was a mistake. After all, I had several experts look at this coin and all but one thought it was original (and that lone expert wasn't quite sure). So I took pictures of the slabbed coin, and then photos of the coin busted out of its slab. Then I sent the coin off to NGC. Sure enough, it came back as an "AU-58". Now I can accept that grading is subjective and grades will vary between the services, but this seemed way off. The retail difference would be about $1000.

    I took all this evidence - photos, old slab pieces and the coin in an NGC slab - to ANACS to see what they would do about it. Well, this fella named Paul tells me that I pay for their opinion on the grade of a coin ... and that's what I got. There was no offer of a refund or free grading of another coin. No problem. I let him know he queered his business with me and I would use this example as a way to show others how their service operates.

    So there you have it. If you're considering submitting a coin to ANACS, keep in mind my experience with them.

  2. #2

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    IDK...they've always treated me very well.

    As far as NGC certs go...I've seen a lot that were scratched which were not noted, but that's MY experience. I still shop for their stuff

    Tomato...tomatoe

    Glad you're happy now but I suggest you rethink spending too much valuable time living in the past...

    You found your solution: NGC

    Honor for US, Justice for Our Children! Now!

  3. #3

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    did they have any free samples, i snagged a bunch last time and slung them on ebay for $10-20, they were only penny samples
    Retired in 2009 at 39 years old, what day is today

  4. #4

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    For U.S. grading... I personally prefer PCGS... it's just a bit more conservative.

    But this is definitely a prime example of the saying "buy the coin and not the holder"..

    I would agree with what the guy from ANACS has said about you paying for your services.. you did and you got a grade.. I totally understand that the difference between a 50 and a 58 can mean a LOT of money... but the grade between a 50 and a 58 is the opinion of whom ever looking at the coin..

    I wouldn't argue the grade much here unless you really can assert your claim that is a higher graded AU.. Where I do see that you may have a leg to stand on is the details claim.... how does one grading company see details and the other totally miss it... (also what did your fellow experts that looked at the coin say... did they feel the coin deserved a details designation?

    Do you have any pics of the coin to offer up?

  5. #5

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    When ANACS give a "Details" grade they give a "Net Grade" based on the condition of the coin and the Problem with the coin. I've had a few MS64 coins receive a Net Grade of MS60.

    I've noticed that ANACS will Details Grade a circulated coin with a small scratch much more often then PCGS will.

    I've also had problems with PCGS giving a "Questionable Color" MS60 only to break out the coin and resubmit it to PCGS again and have it come back in a MS65 holder. It all depends on "OPINION"

    If you believe in the coin and YOUR "OPINION" break it out and resubmit it.
    Last edited by 4sdair; 02-05-2014 at 01:47 PM.

  6. #6

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    Quote Originally Posted by Shylo View Post
    For U.S. grading... I personally prefer PCGS... it's just a bit more conservative.

    But this is definitely a prime example of the saying "buy the coin and not the holder"..

    I would agree with what the guy from ANACS has said about you paying for your services.. you did and you got a grade.. I totally understand that the difference between a 50 and a 58 can mean a LOT of money... but the grade between a 50 and a 58 is the opinion of whom ever looking at the coin..

    I wouldn't argue the grade much here unless you really can assert your claim that is a higher graded AU.. Where I do see that you may have a leg to stand on is the details claim.... how does one grading company see details and the other totally miss it... (also what did your fellow experts that looked at the coin say... did they feel the coin deserved a details designation?

    Do you have any pics of the coin to offer up?
    When you pay for any service you expect competence from the service provider. I don't feel I got that with these boys.

    Before I submitted this coin to ANACS I was at a previous Long Beach show and had the on-site PCGS expert (who happened to be the founder of PCGS) take a look. He thought it was a "wonderful coin". I asked him if it had been cleaned and he confirmed it wasn't. Other dealers at the show thought it was uncleaned also.

    I'm trying to figure out how to bring up a picture. I have to resize it somehow.

  7. #7

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    Quote Originally Posted by 4sdair View Post

    If you believe in the coin and YOUR "OPINION" break it out and resubmit it.
    Yeah, it only costs a few dollar each time you do this.

    The resubmission worked out good for me. I was just bothered I had to go through the process again.

  8. #8

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    Quote Originally Posted by BodieGhost View Post
    When you pay for any service you expect competence from the service provider. I don't feel I got that with these boys.

    Before I submitted this coin to ANACS I was at a previous Long Beach show and had the on-site PCGS expert (who happened to be the founder of PCGS) take a look. He thought it was a "wonderful coin". I asked him if it had been cleaned and he confirmed it wasn't. Other dealers at the show thought it was uncleaned also.

    I'm trying to figure out how to bring up a picture. I have to resize it somehow.
    This is the site i use,just select 600 and then best and i am sure you can work the rest out
    http://www.shrinkpictures.com/

  9. #9
    Join Date
    Oct 2013
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    I would only use NGC or PCGS. NGC gets a bad rap as it is on their gradings (usually from PCGS fans). I can't imagine anyone shopping on the bay or at a show looking at ANACS or IGC as a legit. service.
    Last edited by Lakeside; 02-10-2014 at 04:23 PM.

  10. #10

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    Crack the coin out and send it back to NGC twice and I can almost guarantee you that you will not receive an AU58 both times. One grading event doesn't necessarily tell you what the real grade is. You might need 3 to 5 submissions to get a decent consensus on "difficult" coins where questionable surfaces or color might exist.

    I had a gold coin once that I cracked out of a pcgs MS64 slab because I thought the coin was a no brainer MS65 with no obvious marks of any kind. No hairlines either. I paid a decent premium for it out of a Heritage auction. Imagine my grief when it came back body bagged from both NGC and PCGS the next two times as "altered" surfaces. I showed the coin to a couple of top notch graders who were also PNG gold dealers and they couldn't tell me what was wrong with it. But with the body bags they would only offer MS63 money for the coin. The coin was sent back one final time......and it got an MS66 grade. So what was this coin's true grade? MS64? Body Bag? MS66? A wide range on 4 submissions and no consensus yet. I was happy with the MS66 grade and sold it for 2X what I paid.....sure beats the 30% loss I was looking at with a no grade. Coins tend to end up in the highest possible holder they have achieved....not the correct one...nor the lowest one. Another time I bought an ungraded rare 19th century dime out of action and paid MS64 money ($7500). When it came back MS64 the first time I was a little disappointed since I actually felt it was nice enough to make MS65. I then sent it to the other service where is came back MS63 (value $4000). Now was I was praying I'd get it back into the MS64 holder and just break even. Nope....went MS65 and I sold the coin for $15,000 as soon as I got it back from grading. It was the first one of this date to ever grade that high. So what was the real grade here? MS63? MS64? MS65? In my mind it was MS64 to MS64+ and they got it right the first time. Had the 2nd service given me a 64 grade I would have NEVER been forced to resubmit and would have accepted the MS64 grade as accurate.

    I second what Lakeside said. There are only 2 services that carry significant market weight. I would only buy the other services if the coins are in older holders and look way undergraded....or can buy them at strong discounts to the other services assuming the coins are nice. On Ebay a few years back I bought a wonderful looking key date seated quarter in problem free ANACS Good4 condition for $675. I knew it was every bit the equal of anything in a PCGS or NGC holder. But when I went to sell the coin for normal market wholesale level of around $725-$800 no dealer would touch it for higher than what I paid for it. But several said in a PCGS holder they'd give me a good profit. After many months of showing the coin at numerous shows I finally gave up and shipped it to PCGS. It graded HIGHER at Good6. Unfortunately, over those many months the coin market crashed (this was 2009) and any hope of a profit evaporated. Had I just sent that coin in to PCGS as soon as I got it I'd have easily sold it for $750-$800. The coin itself is the most important thing. But then comes the holder it's in.
    Last edited by Numisgold; 02-09-2014 at 09:48 PM.

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