NGC coin grading failure share my pain and learn from my 6 fails
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- เผยแพร่เมื่อ 20 ต.ค. 2015
- The apprenticeship path can be severe and full of barbed wire broken bottles and mines. I failed so you can survive. Here is the original video full of optimism and undiminished joy • Next batch of selected...
Watching your unboxing of these is like watching a good movie. There is happiness, sadness, and heartbreak all mixed together.
It would be cheaper just to buy coins that are already certified by NGC or PCGS. Both services stand behind their evaluations with a cash-backed guarantee.
@@gmail4218 Lately that is not an option for many people & MANY coins!!! The rare graded coins are so expensive, my strategy is to find great quality ungraded coins & get them graded. You either get a keeper, or you can pretty much doubling your money selling the graded, slabbed version that was lower than what you collect, no matter how it grades.
You are a riot!!!
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I am a power seller on eBay. You can get a refund on any purchase by selecting the return that says item does not match description. No matter the policy the seller states (no return all sales final etc) the seller has to accept the return and refund your money. I bought a 1922 Grant with star that was a fake clad. My machine told me it was fake and I got my money back from the seller. Dude did not even argue he knew it was a fake.
Ebay can't do anything if you purchase it outside of ebay/paypal. he said the guy talked him into not using paypal.
Refunds works up to 40 days, Isn't it?
If you use a card then you can fight it by contacting your bank that owns the card. As long as the purchase was finalized by a debit card or credit card you can fight it. But you can lose it as well. I am just letting people know that on eBay they can return anything they bought by checking the box that says the description does not match the product. It’s irrelevant if it matches as eBay policy is to believe the customer and make the seller take the product back on his/her dime.
what machine you using
@@Caseshells123 That's good to know. Thank you.
the problem i have with grading is that you need to trust the mail man with them
"Unless you know what you're doing, which I don't" is a big mood.
This is one of your best videos ever! Nobody else shares information like this, it is so authentic and much appreciated. I am encouraged to go out and find interesting coins!
I'm sorry about the fake gold coin. Some people are such losers. He Will get what's coming to him one day.
Most of them don't, so I'd say that's wishful thinking.
They say fake and fake is the best news u can get other than it being from the us mint. That means it was likely real gold and was actually circulated he should’ve known that then u go down the latter to jewelers tokens souvenirs tokens then replicas . When they call a fraction gold coin a fake think of minted in a small assayers office for circulation by private investors. These coins r really misunderstood and theirs a lot to learn
in my experience early on, wishful thinking and a lack of patience cost me dearly. thanks for the video and good luck in the future.
Wow....almost nobody would share this...The value to us here is invaluable. I have almost pulled the trigger so many times buying a gold coin on Ebay….but have that sneaky fear of what do I do if it is not legit. Some of the damaged coins I could see the damage others I didn't and feel your pain. Thank you so much for sharing this review of what to do and not to do. Thank You!
Fakes are easy to detect. Weight plus diameter plus thickness as gold or silver if replaced by plated copper or iron. That's basic metal aside. For fakes made in gold or silver you just need a loupe and your eyes. Fakes are usually cast. Cast coins wont have the cartwheel lighting effect of new silver or gold coins when rotated under light. Also remember that antique fakes also exist which are generally accepted as restrikes by collectors.
Buying raw gold on eBay is like walking through a minefield.
Don't mess with e bay go to a real coin business idiot
Not really, “Item does not match description” == Refund 99.999999999999% of the time.
@@derangedgaming3781 I'm glad you have the time to deal with pain in the ass returns.
@@thesailjunkie usually you end up with the item for free if it doesn't match the description. the seller doesn't want to deal with returns either.
@@jeffreyclark3023 there are reputable dealers on Ebay like MCM, Scottsdale, and APMEX.
Great video! I was told by a coin dealer in 1980, the best way to learn about collecting/investing, is to buy the books first, then the coin. As time progressed I saw the formation of PCGS in 1986 and the world of coin grading, collecting and values changed forever. The purpose, I was told, was to establish a consistent reliable grading standard & market. So, if dealer in LA gave a value of a coin $100, a dealer in Chicago or New York would recognize the same price. Then an established registry would be created so coins could be tracked as they changed hands in the future. Values change based on supply and demand. There are NO bargains in rare coins! I was also told this by dealers. Many have told me they prefer PCGS graded materials. Legitimate ones anyway.
Scammers, counterfiters and thieves wear suits too. As one very reputable dealer told me, "Caveat emptor", buyer beware and keep reading the books, attend shows and join a club. Educate yourself and you won't get scammed!
It's funny u say that; you can walk into any lcs with a graded coin, and will only get greysheet. You can argue till your blue in that face, but they won't recognize any TPC price guidelines, every LCS I've ever personaly been to, anywho.
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First of all, thank you for sharing your story with us. It takes balls and $$$ to have the courage to send many of your coins in for grading and to have some of them come back as fakes or cleaned, etc.!! I have learned A LOT from watching your videos! Truly!!! Anyone can brag about something they accomplished on TH-cam, but not everyone is humble enough to share in what appears is a failure, when it is really the best kind of teaching we could ask for! Hats off to you sir! :-)
+LadyLibertyStacker Nobody likes losing money but the risks are not huge as I have had lots of successes that make coins worth more and mostly all I can lose is the grading fee and even then since i have 100% good feedback on ebay since 2001 I never seem to have any problem selling anything that I list because of the confidence factor. I think that we all like hearing of failure as much as success and the Brits like failure even more than success )) but its quite entertaining to see someones misery and challenges too ))
Numistacker If it can happen to someone like you with a lot of experience, then think about what can happen to someone like me! LOL SCARY! Maybe I will try it someday but I will be super picky about what coins I send in! lol
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Wanted to convey my gratitude to you for allocating the time to create your channel! Sadly, unscrupulous sellers appear to be on the rise! Thank you for sharing your knowledge and your beautiful collection!
I was a professional numismatist for 18 years and quit it all about 5 years ago. I almost miss coin collecting as I watch this video. The drama in the coin community just got to me and I would never turn back to that hobby. Still have a nice collection and sometimes buy but just for my personal studies. You will learn. You will develop a better eye for coin selection.
Shame the drama got to you.. that video was a few years back and now after 900 more videos I think I’m developing an eye for it gradually
Hey man, would you be willing to give me your opinion on a coin of mine?
It's an 1849-C $5 Liberty Head
I really appreciate how you shared these experiences with us. It helps all of us. Thank you very much.
Thank you for sharing, all us without this first hand experience really appreciate your honesty.
Thank you very much for sharing. Yes I feel your pain. I often find however, that lessons learned from mistakes are the ones learned well. And you are doing a service to all of us.
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Just saw your video today and enjoyed it very much. I have never sent any of my raw coins in for grading, and have been a sucker who has over-paid for Proof 69/70, or MS 69/70 modern coins... You got some really nice results, despite the mistakes. Thanks for sharing and educating the rest of us. I was really amazed to learn that the Royal Mint made half farthings. Wow! I have some ungraded farthings, half pennies, and pennies. I even have two half cent coins and several large cent coins, all ungraded. Really cool video! Thanks from New Jersey!
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Thank you so very much. I learned about possibilities I had not considered and wiser because of you. Thanks!
If nothing else it was a learning experience! Every numismatist goes through something like this at some point in their learning, maybe not as severe, but at least you got it all out of the way at once. Very informative video!
Thanks for sharing the mistakes... it is as important to share the failures, as successes.. thanks.
Thank you for sharing your experience. I've been thinking of sending coins in and this video helps tremendously.
+ikeo net1 Glad to be of service to you as its a bit of a dark art.
great video Numis. Thank you for posting it. Learned a lot
Appreciate you sharing so many of your experiences. This isnt the first time that I am reminded that graded coins have become something desired in the coin community, but is also starting to be overkill in my opinion. I have exactly one graded coin, and otherwise just buy what interests me in general. I am also extremely careful about who I buy from etc, and also thoroughly critique the coin when received.
Excellent Video. I love watching unboxing of graded coins. Good Job. Thanks. Out.
Hi Numis.....
grading is an art. So everyone has a opinion or thought. I have sent in many coins and failed myself. I must have sent in over 24 coins with obvious scratches. So we all get fooled or over look the marks.
I find in order to grade coins, its good to have a sample of the coin you are grading in a holder already, if that is not practical, then get several other examples of coins and just compare them. Even if different in date and mint mark are not the same. 2nd you need to work under a certain type of light. Or at least 2 different light colors. Like a blue light color or a yellow light color. NOT actual colored lights, but the light spectrum is broad and has shades of different colors within the white light.
3rd, do not ever look at a coin once and decide to send it in, I look at a coin and then put it in a good flip and store it away for a few days. Then I take it out again and start to compare it to other coins. I am sure graders, have a vast catalog of either pictures and or coins to compare against. So you and I should look at other coins also. 4th when I think I have found 5 or more coins I want to send in, I collect them in a intercept shield box. This fights humidity and stuff. Oh also only examine your coins with white cotton gloves on. Make sure the wife does not use fabric softer and or drier sheets on these white gloves. 6th never talk to anyone when you are looking at your coins. Just your breath will spoil the surface of coin. 7th, for one of a kind coins, look at a coin dealers coins and or go to more shows to see what a coin looks like in a grading holder. 8th, I was told most dealers just deal with slabbed coins now. And if a dealer has both of slabbed coins and raw coins, well look out. They maybe selling the stuff that is not gradable to you!
9th you and I can not compete with a dealer or tv show in sending in hundreds of coins to grade a month. Did you know that they have a show or bulk rate to give to dealers on one hundred or more coins. So just think, you are a grading company. You and I send in 5 to 20 coins once or twice a year. Now the grading company gets maybe 3 to 5 hundred coins a month. Who would you give better grades to? And finally the single most important thing you should do is this. Take all the fake coins you have study them and compare them to other coins. If you think this coin is real, then send it to another company. Like Anacs or PCGS. Sometimes they think differently about coins. The coin you showed maybe real? Who knows...
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I've never sent coins in for grading but I am thinking about it. Thanks for your video. It has given me some food for thought.
Always enjoy seeing your graded coin openings. Thanks for sharing Numistacker!
It's a pleasure Mark
Great video. I appreciate you sharing your experiences!
Thanks so much
THANK you for sharing! That collection was far from any failure!❤
I love your attitude.
🗽🇺🇸
I totally agree with yout final comments, definitely brings some class to collecting.
I just sent out 20 coins. It will be a great learning experience for me too since I am new to coin collecting. Hopping for good results 😊. Thanks for sharing.
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I'm new at graded coins, I lover your very "down to earth" video, very informative and personal. Thank you very much for taking the time, very helpful.
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Thanks for sharing your wins and losses. All of it was helpful and insightful
Informative! thank you! We are all learning mate!
It seems as its very difficult to get problem free grading as many coins have some type of issue. Also I think this whole 3rd party grading deal was created to benefit dealers over collectors as a whole.
I appreciate your videos and commentary on your experience. I would venture a bet that most average collectors don't fair to well when submitting coins. Thanks much!
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I'm crying with you. But you are doing a service to others by sharing your experiences.
Those Indians are nice, It’s one of my favorite designs. Golden State Mint carries that design (incuse indian) in silver rounds... beautiful.
Thanks for sharing!
Sorry to see the fake and a few bad gradings. Appreciate you taking the time and walking us through and sharing the good and the bads. Very educational.
I will do a review of details grading very soon I think
i am at this stage of my stacking journey, knowing what to choose to send off for grading. learning so much from your videos, and from other members/subscribers. really appreciate all these videos and the future videos. hopefully i can get my hands on the 1/4 bond gold coin soon, as i have saved up to treat myself for my birthday which was on the 24th march, but unfortunately with this corona virus lockdown i have to wait for business to return to normal and folk to return back to work and deliveries back up and running, before i can send anymore for grading, I'd love to be able to send some more gold and proofs to you soon. i spoke with the coin connection and tried to buy it last tuesday , very friendly and helpful Adele took my details and when ones available they will contact me. I really look forward to all deliveries and post to catch up more than ever now. thanks for sharing , some great coins on this episode, great video as always
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Amazon advertises copy coins for 6 dollars they dont even say copy on them that is wrong that encourages people to buy them and resell them to the public very bad for the new coin collectors that cant tell the difference.
GREAT VIDEO! Love the older US copper coins.
I’ve probably watched this video 4-6 times over the past few years because it’s one of the best means of educating oneself that failure is the beginning of success.
Thanks for the video...most people just like to show there successes...You still have some fantastic Gold Coins there! Love the Indian especially! 👍
Fascinating. I'm still on the edge about sending any of my coins to be graded.
Jump or be pushed
thank you for sharing .
A good lesson for all of us. It's not an easy task to ensure that one is buying bonafide coins. Thanks for sharing.
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Wow. Thank you for sharing your experiences. I certainly learned some valuable information. I just started to collect coins.
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Your presentation is hilarious😂😂
Need to go to Coinhelpu you tube channel. Daniel has some good info on collecting numismatic coins. Being a coin dealer.
Sorry for laughing but dude your so funny.😂😂
Very informative. Thanks!
I've narrowed down to better coins , more patients, no rush, think it out throughly, send, don't feel bad,like I said I've been there!! Don't give up my friend!
Good of you to share. I, too had my share of good and bad buys on ebay. Like you I submitted what I thought are good coins but NGC had other ideas... lol
same experience thank you for sharing
I don't think it was a complete mess. When you uploaded the video with the coins ready to send I knew some of them were going to be details graded. Anyways, the ms indian head and the perth mint sovereign are beautiful. Same with some proper graded eagles. I have found very useful to set up a checklist when observing a coin before sending it to ngc/pcgs. That might help (especially with rim damage and removed from jewllery coins). I really loved the victoria half farthing; I found much more joy and thrill when I see that type of coins versus 20th pieces. Hope the next batch comes with better fortune! Cheers
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Thanks for the videos and tips, this makes me double, triple check my coins I am getting ready to submit.
hi Numis just watched your ,as you said "Failure" video. I'm new to You Tube obviously....I did enjoy the video....Chin-Up ! good luck
Thank's for sharing. Very educational.
Thanks I think we can all benefit by sharing failures
That’s why I get all my silver and gold from reputable companies and not some rando on eBay selling coins
If anyone is interested in acquiring ZAR or the famous Kruger gold coins. please contact me Brad on 0799088752. i also buy back the Mandela range Medallions as of six months ago have depreciated in value due to overselling in the markets and are today only worth their weight in gold unfortunately. i can also exchange the Mandela range for other gold collections to help recoup some of your losses. .
That does not always help. I bought a tiny Canadian maple leaf from a supposedly decent company. They cited their parent company as an authorized dealer and that seems to be the only try part of the transaction as the coin the tested as fake. I called both companies AND the royal canadian mint. I am in the process of trying to recover the loss as now I'm sure that the other 2 gold coins I bought will test fake as well.
Very nice video. Thanks for sharing & teaching us a thing or two. Even though you lost out on some you helped us out from buying duds in the future so actually you did not fail. Loss of money, yes but did not fail.
Even though you are disappointed with the result of your choices. Still a great display of some very nice coins. Thank you for sharing, good video.
Thanks for sharing. Good learning experience for all of us.
Thanks for this informative video. I have a 1921S Morgan dollar that I thought was nice condition but, it's becoming more apparent to me that there's a huge difference between in quality and value, from the layman's perspective and the professional's perspective.
Although a coin appears beautiful and in nice condition, it's actual value is what it worth to melted down.
+Everett White I have found that it's worth only buying the best you can buy or buying at spot (or based on spot) you are right that the pros are much more detail oriented when it comes to value
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Never a Dull moment, Thankyou for your Honesty 👍
Your video is very informative, therefore not a failure.
I thought perhaps your complaints were with the grading service. It appears that your complaints are more with the coins themselves. Great video, learned a lot. Thanks!
Mostly my own lack of expertise choosing coins
Hardly failure, simple misadventure. Thanks for sharing.
That was really interesting. Thanks.
Thank you for making this video. It's very informative
Thanks for watching
beautiful half dime. i just started collecting , i dont have nice things like these but someday i will :) great video .
Wow, really sorry to hear your results. I also had pretty crappy luck getting coins graded, so now if I want a coin graded in a certain grade, I just buy it.
Where is the sport in that lol )))
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I find your video very helpful and educational - thanks.
+Irish Folly Thanks very much for watching my failures ))
Well done. We all learn from our mistakes. Thanks for sharing. Cool channel 👌🥈🥇🥇🥈🥇🥈🥇🥈🥇
Loved it ! I once bought a $2,300 Syracusan Tetradrachm (C.420 BC)....It fooled many people. I was told by CNG and Stacks NYC I should send it to NGC....Since it is undecided, I should invest the shekels to have a final determination. THANKS !
Wow you have a lot of quality coin thank you for sharing regards from RichardLiew from Kuala Lumpur Malaysia
thanks for sharing numi , such a shame about the fake, im now a little concerned with the golds ive purchased recently off of ebay, i have been in contact with ricky p, at ngc and will be taking a trip down to london to discuss and show them some of my coins, hopefuly getting my first batch of coins sent away for grading if ngc decide its worth my while. great video, look forward to your future videos.
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dont beat yourself man i have been burned from pcgs. your not a failure this happens a lot in the grading process. you just never give up, you win some you lose some!
great vlog, the small fake us gold one dollar would have got me too!...i am petrified of ebay and gold coins now. coin connection only now for my ngc selections. looking forward to more great numistacker mega unboxings soon.
You should send the coins to a competitors grading company. See whats what.
I actually bought a 1882 3$ princess from a pawn shop back when I was a young collector. Sent it off to PCGS, and it came back questionable authenticity. The seller allowed the return and refunded my money. No questions asked. Good person. Great video. Everyone makes mistakes. You live and learn. ;)
Thanks for sharing. I think the grading companies should offer up-grade cleaning services. Those jewelry marks could be removed, etc. Fun coins.
If you want to know a coins condition just look up the same coin in a MS65 then you’ll know if its good or not. If it doesn’t match then drop to MS60... if it still doesn’t match then drop 5 more and keep looking until you find a coin that matches the one you’re looking at online.
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good camera work and lighting. Thanks.
this was a expensive lesson but the video has great value to me and lessons learned for all. with the amount of fakes that go around now and in the future i believe in grading services more so. great video great coins and look forward to more positive results on grading in the future.
Things can't get worse )) surely?
all round perspective: at the end of the day things always get worse if you let them! but being more self aware of your mistakes and learning from them over and over again ( re watching a video) you start to in-bed a new decision process and feelings before buying.
would i regret doing what you did? Not for one second! Because its a lesson and building on the failure we shall see some fantastic success.
try to flip the coin to the positive side and be wary of the other.
take it easy.
SS
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On the fake dollar did it pass all tests of inspection
@@danielgarner2977 it's been 7 years I doubt you will get a reply for numi.
Great video... eBay is a joke when it comes to buyer protection and/or customer service! I closed my account a while back & will never do business with them again...
Believe it or not, both Ebay and Pay Pal offer amazing buyer protection. Always make an HD video recording when a package is opened or sealed in order to verify its contents. I have a 100% positive feedback rating on Ebay and a $20 million selling limit. I only deal in PCGS, NGC, ANACS, and ICG coins (the best services in that order of reputation), and currency certified by PCGS or PMG.
Thanks for sharing, this was very helpful :)
TH-cam are working correctly. I just watched something on grading and bud they referred me back to you. HOORAH !!! I missed this video YEARS ago. But it was fun to watch. EEK that fake.
Great Video. I have been a collector for years and have an eBay account since 2005. I have hundreds of Morgan's I have collected from estate sales and they are all nice and mostly circulated. I will not use eBay because of the incredible amount of fakes. Even faking PCGS and NGC capsules. I will stick to my Morgan's that I know are genuine.
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You win some you lose some! Keep stacking brother, soon you'll hit jackpot
There are some great online auctions from big name companies that you never have to worry about getting fakes from, Heritage & Stacks just to name a few. The "Fun Show" in Orlando FL every January is a great show for new and experienced collectors, NGC & PCGS have booths there and a hundred or so dealers, and lots of collectors to talk to.
F.U.N. Show=Florida United Numismatists, in January and Summer FUN Show in July, also in Orlando. The Jan. show is the big one.
Discouraged, not at all, i'm learning right along with you. I think it's much more important that you not become discouraged. I don't believe you've "failed" at all, we learn as we error, hopefully not to make that same error again. Please keep at it as I really enjoy your videos.
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Good video. 👍 this is how we all learn.
And cool US gold in there!
Respect for sharing your experience! I know it's really hard to "grade" the coin by only seeing one or two pictures from one angle. You cannot always win, it's an risky investment if you buy ungraded coins online, therefore I only buy graded coins if they are worth more than 100$. Cheers and good luck!
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Yes fully aware of NGC UK international coin grading and economics and comical. As I sent in an Ibrahim Lincoln copper coin 1943 and also 1933 British copper penneys to NGC international London to be graded . I paid for elite membership of NGC UK for coin grading plus further £100 and they was unable to do the job as they made excuses that it was a pgcs, so I sent them an envelope stamp £10 worth of address envelope to myself with chip also witnessed by the post office and many other people apparently they are unable to grade very expensive rare coins like my coins of Abraham Lincoln made out of copper 1943 D and 1933 copper British pennies .
You have a nice collection overall. Sorry about the failures, but like you said...you learn.
Yes hopefully there is some learning going on
They're all good learning points, sir. We have all been there. Do not despair. Nothing you can do with the counterfeit except report the seller to eBay. My other solution is to break open the non-gradable coins from NGC and keep them as bullion. I don't buy loose coins on eBay, only graded coins from a well established and reputable seller. Stick to local coin shows, local dealers, national conventions, trusted online dealers like apmex, provident metals and numerous others for your future raw coin purchases. Last, subscribe to 'Coin World' magazine. There are many trusted rare coin dealers who advertise in the magazine.
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Sorry to hear about your experiences, especially the fake, possibly a modern replica in a different carat, i think 24k knows about them.
+CyberCurtainTwitcher Its only too easy to do as we want to believe but thankfully these things don't happen often but i didn't listen to the alarm on this one.
I've been there, you are not alone!!
I absolutely love the incuse Indian, I'd love to own one some day.
Another I want to own some day is a silver shilling 1849 or older.
Dont take it too hard you'll get the hang of it.
Thank you for sharing