eBay changes... More plastic coffins!

[Generic Lad 25]

So apparently eBay is now changing it so you can't advertise basic numeric grades in the listing unless your coin is certified via NGC or PCGS. And, your coin has to be certified by either of those two grading companies to sell a US coin over $2,500.

Of course this means that anyone thinking about starting a grading company won't be able to sell on one of the largest marketplaces for coins and smaller but still reputable graders such as ANACS and IGC along with numerous grading companies not based in the US can't market their coins on eBay as graded.

I simply cannot see how this will be of any benefit to sellers or buyers on eBay.

[azda 979]

So apparently eBay is now changing it so you can't advertise basic numeric grades in the listing unless your coin is certified via NGC or PCGS. And, your coin has to be certified by either of those two grading companies to sell a US coin over $2,500.

Of course this means that anyone thinking about starting a grading company won't be able to sell on one of the largest marketplaces for coins and smaller but still reputable graders such as ANACS and IGC along with numerous grading companies not based in the US can't market their coins on eBay as graded.

I simply cannot see how this will be of any benefit to sellers or buyers on eBay.

It only benefits NGC and PCGS who apparently were part of the process along with ebay in trying to reduce the number of fakes on ebay...........You don't have to advertise grades anyhow, let people decide for themselves. PCGS and NGC are behind CGS in terms of grading Brit coins, but as has been stated before, they have UNFORTUNATELY a link to LONDONCOINS which could be there own downfall eventually.....

CGS needs to be independant and not working WITH LONDONCOINS , shame, but true........

[TomGoodheart 403]

As far as I can see, this only currently applies to ebay US. And in fact, I can't see how it could do otherwise since neither of these companies has a comprehensive coverage of non-US coins.

The US site also says that replica coins are not allowed (but they seem to be listed on the UK site) small, dark or unclear photos are banned (yeah, right!) and that counterfeits are not allowed. The latter seem to me to be a major problem because contemporary counterfeits or evasion pieces are perfectly reasonable numismatice items with historical interest and significance.

I suspect the problem is that ebay has for too long ignored the modern replica coins and has now introduced this sledgehammer to crack the nut. But then it's ebay's own fault. A few years back it was easy enough to check the IDs of bidders for shilling, or to contact a bidder to warn them off dubious items and members regularly reported fakes to ebay. Then they introduced anonymity to the listings and it became impossible to identify the rogues so the only recourse was for members to report dodgy items direct to ebay. But in the UK ebay never seemed to take any action and I for one have stopped reporting and have even stopped posting replicas on Forgery Network because .. what's the point if they keep appearing on ebay?

As Generic says, it's not really good for buyers and is certainly inconvenient for sellers. I also believe it's bad for the hobby as more and more people will stop deciding their own grade and come to rely on one of these two companies.

Of course, when ebay tried this a few years back (restricting the term 'certified' coins to only about 5 graders) they got sued (for implying everyone else's coins were counterfeit). It might be interesting to see if someone like ANACS decides to sue again, this time for having their reputation and professionalism called into question.

[Nick 329]

Sounds like good news for the fakers of NGC and PCGS slabbed coins.

[Peter 615]

Looks like NGC and PCGS are behind this.

As Generic says "there is no benefit to buyers or sellers" apart from the latter.

[Coinery 1,157]

Sounds like good news for the fakers of NGC and PCGS slabbed coins.

Good point, Nick, I'll have to dig out Perspex in future, and forget scanning the net for high-grade coins...I can buy VF and encapsulate them a grade up now ;-)

[Colin G. 147]

I believe this is currently only a US restriction

Edited April 19, 2012 by Colin G.

[TomGoodheart 403]

I believe this is currently only a US restriction

And unless ebay want to shoot themselves in the foot I can't see how the certified grading requirements could travel outside the US. As for the fakes, well, as I said earlier, I think there needs to be a distinction between contemporary pieces that are of interest to collectors and modern reproductions intended to deceive collectors. Most replica items that are sold as souvenirs are so obviously copies I don't see them as so much of a problem, but I guess they are another area for consideration.

The main problem I see is that, once again, ebay is listeining to big (commercial) concerns rather than their own members. I see no good coming from it.