Armageddon - British coin slabbing begins

[Emperor Oli]

It has begun.

The news section makes for disturbing reading too; they have apparantly graded their 1000th coin on a - would you believe it - 100 point grading scale.

[josie]

Good for them any members of CGS in this forum or staff of CGS.

[Rob]

I've liberated a handful.

[Coppers]

It has begun.

The news section makes for disturbing reading too; they have apparantly graded their 1000th coin on a - would you believe it - 100 point grading scale.

Don't worry Oli. British collectors and dealers have have too much sense to be taken in by the silliness of our US "micro-grading". It won't last.

[TomGoodheart]

But then, slabbing doesn't = selling!

I see at the last auction most slabbed coins sold for the lower, or just below, estimate with only a couple of exceptions. That doesn't suggest to me that the slabbing has made the coins themselves any more attractive to buyers.....

Ah, well. We'll see.

[Geordie582]

I tried asking "how much". Try it. You get no answer and there is no indication of who does the grading and who taught them Let's face it - I could make a website claiming to be an expert in grading and sit back to await the money (no pun intended) rolling in!!!

Edited December 17, 2006 by Geordie582

[TomGoodheart]

Yes, though I guess there are reasons for not naming names, there are none for no prices!!

I'm glad they are sticking to milled though. Particularly since one of my more obvious counterfeit Chas I shillings passed through their doors without being identified as such!

It's a shame there aren't any 'representatives' here on the forum - it would make the debate (even!) more interesting.

[Hussulo]

In the latest eddition of Coin News the editor seems to be firmly behind them. Mind you they do seem to have taken a lot of advertising space in the magazine.

[Red Riley]

At first glance, the website looks quite a professional job, but look further and it becomes clear how thoroughly unprofessional it actually is. The blurb is quite childish and contains many mistakes of grammar and spelling e.g. 'As you can see, even the minutest wear, which is bearably noticeable...'.

They will have to try one hell of a lot harder if they are going to attract the kind of clientelle who could make this into a profitable business. As things stand, the overall impression is of a speculative get-rich-quick plan set up on somebody's kitchen table. I suspect the mainstream 'hands on' branch of the hobby have little to fear from such ill thought-out schemes.

[TomGoodheart]

I think the bottom line is that in the US people consider the professional grading and slabbing of coins to be useful. They think it offers them a degree of protection and so there is a market for such things. There is therefore a reason for buyers to leave the coin in the slab, particularly if they plan to resell it in the US in the future.

In the UK such a market doesn't exist, at least amongst numismatists. While it may interest investors (although I suspect any sensible investor will research the market and see that there are many unslabbed but 'investment worthy' coins around) it remains to be seen if anyone else will be prepared to part with their money for such a produce. Particularly since, by implication (since grading and slabbing has a cost to the slabbers), there will need to be a premium over the cost of an equivalent 'raw' coin.

I suspect that buyers will continue to use their own judgement as to whether the asking price is good or not. And for the most part I suspect buyers will liberate their coins from the slab.

Whether this operation can both create and maintain a market for slabbed coins remains to be seen. But I think the 'premium' may put many people off, especially if they aren't bothered about the slab in the first place!

[Emperor Oli]

In the latest eddition of Coin News the editor seems to be firmly behind them. Mind you they do seem to have taken a lot of advertising space in the magazine.

Just look at the "Useful Links" page...

[Hussulo]

I tried asking "how much". Try it. You get no answer and there is no indication of who does the grading and who taught them Let's face it - I could make a website claiming to be an expert in grading and sit back to await the money (no pun intended) rolling in!!!

Reading the two page spread "spotlight" article in this months coin news "When a coin is recived it is examined by the atributer, Alex Anderson, a coin collector of 36 years experiance. He assesses whether it is genuine or not by weighing the peice and consulting an extensive library of known forgeries." then " two fully trained graders will independantly grade the coin".

Anybody know Alex Anderson?

[scottishmoney]

See what the collecting public does, I am sure there are some schnubs who will buy this garbage, but most collectors are a bit more discriminatory in their tastes.

Don't all fear, the absurdity of the USA grading companies will take over and make it so you have to have the grand crack out party.

[Rob]

When I spoke to Alex Anderson (who is behind this) about it at the London Coins sale, he said they were getting a couple of people in Utah(?) to do the grading. The question I have is why they need to ask Americans to grade English coins. Personally I would have thought it better that if you are intent on setting up a slabbing business you would use people who are familiar with our coins rather than US ones.

The question of costs also arises. How much time can be spent assessing a coin if you are charging less than £10 which has to cover the cost of the slab, shipping x2 and other overheads? Although this is the lowest charge band it still seems cheap for a business service. I haven't tried laying out a business plan for this, but I think there is going to be a problem making a living for the owner of the business.

[scottishmoney]

When I spoke to Alex Anderson (who is behind this) about it at the London Coins sale, he said they were getting a couple of people in Utah(?) to do the grading. The question I have is why they need to ask Americans to grade English coins. Personally I would have thought it better that if you are intent on setting up a slabbing business you would use people who are familiar with our coins rather than US ones.

Why didn't they really sell out and get some shysters from Florida? I mean if you are going to pike 'em up the bum, then you might just as well do it with the professionals at such.

If I were a Brit, I would take exception to Americans grading my coins, inasmuch as as an American I would take exception to a Brit or anybody for that matter grading my coins.

[Emperor Oli]

Alex Anderson...said they were getting a couple of people in Utah(?) to do the grading.

Wonder why they don't quote this on the site? I also echo scottishmoney's comments.

[scottishmoney]

Only Brits are suited to grade British coins, and no coin deserves to be slabbed!

[Emperor Oli]

Only Brits are suited to grade British coins

I wouldn't necessarily say that, but I haven't heard of either any prolific British collectors nor numismatic "experts" living in Utah!

[josie]

Ive sent an email to london coins several days ago no reply, most of the email is to have a representative on other medium simply cannot find the CGS site ,encluding forum like this.

Still no staff of CGS forwarding in this forum.

I think they have responsed on other site, seen some responsed on ebay discussion,good start they reason in some site.

No list of other staff though, so others can ask question on them especially to co-equal if not other british expert in this forum can surpass them.

If tom coin is a fake and slab, there will be a loads of question to be answered in this early stage of thier company.

At this early stage they dont reached to this forum I think,hope they will have sense when thier company last, or became stable or an institution,not reaching to the other medium only in times they neede help then they will reached out.

[scottishmoney]

Only Brits are suited to grade British coins

I wouldn't necessarily say that, but I haven't heard of either any prolific British collectors nor numismatic "experts" living in Utah!

They really only prolificise in one thing in Utah. You guess what.

[TomGoodheart]

If tom coin is a fake and slab, there will be a loads of question to be answered in this early stage of thier company.

Just to clarify, my coin wasn't one of the slabbed ones. Just a coin that passed through one of London Coin's auctions a couple of years back. They may have tightened up since then.

I've dealt with Alex Anderson. He sells on ebay and seems to have an eye for the interesting, though I tend to feel he's paid over the odds sometimes. Since I only look at hammered I don't know what his taste in milled is like.

As Rob says, making a business sounds like it might be a struggle and as for Utah.... funny but I always thought there were one or two British coin collectors this side of the pond too. Rather suggests nobody in the UK was keen to get involved doesn't it?

Edited December 18, 2006 by TomGoodheart

[Geordie582]

Reading the Coin News, I feel they have really gone over the top to plug this company. I wonder if the editor, John Mussell, is an investor?

I think the price list on the leaflet enclosed in the magazine shows that money is at the base of the affair.

Edited December 18, 2006 by Geordie582

[josie]

THANKS TOM FOR THE CORRECTION.

So thier company seems credible NO FAKE COIN SLAB YET.

[josie]

Emailed CGS UK hope they will reply to this forum especially to thier own coutrymen and fellow expert.

[Geordie582]

To put things in perspective - Grading is only an opinion, even if it is the same from three people.