Dealers becoming Coin Graders

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Nevada Cowboy
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Dealers becoming Coin Graders

#1 Unread post by Nevada Cowboy »

I dont see any reason why a Coin Dealer who decides to grade his own coins and the general publics would be an issue.

I know that it would be very easy to obtain an Ultrasonic Sealer and a Label Printer. Compared to what's out there currently, I could make a Company that would blow the doors off of everyone who's out there right now.

The only obstacle would be the legal issues of owning such a business. Hiring Lawyers to defend yourself from intrusion and protecting yourself from the various con artists targeting such a business would be

costly and the only reason I would stay away.

The people that would come to tear your business down is the main obstacle. I'm sure a company (not ngc, icg, or anacs, more like that other one) would hire some Salty characters to come take care of you.

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Re: Dealers becoming Coin Graders

#2 Unread post by DanB »

Money isn't the issue. being reputable, knowledgeable and accepted within the coin community comes to mind.
Yes anyone can buy the equipment and start slabbing coins.
There are 2 top level TPG now and then 2 others. of the 4 each have their strengths and weaknesses.
The top two are the top two for a reason.
Do they get it right all the time? no but until there is something comes along (thinking of mint state and their venture into AI) that can provide grading consultancy and standards, its going to be a tough nut to crack to be accepted in the industry.
There's a reason the big auction houses and even museums use the top two TPG services.

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Re: Dealers becoming Coin Graders

#3 Unread post by RevlisAg »

I would think grading coins could be done electronically soon. There's just too much fakes and human error.

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Re: Dealers becoming Coin Graders

#4 Unread post by Earle42 »

@RevlisAg
It was already done in 1990 by PCGS. They claimed it to be much more accurate than human grading. It did not last long. The reason given was people didn't trust computers, which made sense b/c few people had home computers.
Personally I also wonder if claiming their grades were accurate also did not kill off the lucrative part of their business (still running today) where people crack open a slab to get it regraded hoping for a higher grade (MUCH more money in some cases when sold.
You can read about the system as part of the essay I have linked to below about the No FG incompetence/errors of the grading companies. I also suggest an iPhone app. could likely be made using the iPhone's facial recognition tech (more than capable) to scan a coin.
The AI system Daniel is involved with may very well make this concept a reality since it is web based!
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

How much squash would a sasquatch squash if a sasquatch would squash squash?

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Re: Dealers becoming Coin Graders

#5 Unread post by Daniel »

Also people trust computers now more than ever but we're still a way off.

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