NNC vs NGC

[jicol 10]

One often see NNC high grade coins on offer on BoB at reasonable prices.I did some research on NNC and saw they did not have a good reputation but was curious if they are really off the mark and wether it may still be worth while to buy the discounted coins and have them regraded.

 

I bought 5 Union of South Africa NNC graded coins and have them sent to NGC for regrading and the results are as following:

 

Coin NNC Grade NGC Grade

1940 6p MS62 AU58

1942 1S MS63 AU58

1952 1/4p MS64BR AU58BN

1959 1/2p MS65 MS63RB

1959 1/2p MS65 MS63RD

 

The photos on BoB are often not of a quality where one can form your own opinion and one need to rely on the Grading but when it comes to NNC it is now clear to me.Do not waste your time and money even at highly discounted prices.

 

Thank you for Juan and JD Numismatic Corporation who provided a cost effective and efficient service in submitting the coins to NGC.This is a useful service if one do submit coins on a regular basis.

 

Jimmie

[RISadler 10]

:notrust:

 

Here's my take on "grading" and the companies that do it ...

 

One ... If you are serious about collecting coins, then form your own opinion regarding the "grade" of the coin you are purchasing. Why base your "investment" on what somebody else declared as "the truth"?

 

Two ... Grading companies have a certain power to manipulate the market by, say, generally grading coins low and then sometimes grading a coin very high. The benefit of this strategy to the company would be that their "high graded" coins command much more on the market than those of the competition, so people will rather have their coins graded by them in the hope of receiving such coveted grade - it generates business.

 

Three ... Everything is subjective and relative. Owen's coin collection* is worth more than any slabbed "investment" set.

 

Four ... Why the blazes can't they grade coins on a sensible, decimal scale ... from 0 to 100? And what criteria do they use for deducting points?

 

* See Throw Momma from the Train.

[jwither 10]

The title of this thread implies that NNC is actually a grading service when to my knowledge, it isn't. I have not even bothered to see if they have a website or if somene can submit coins to them but to my knowledge, ALL of their coins are "graed" by one eBay "Powerseller". If this is correct, they are a "selfg slabber" and their coins should be given no more merit than if you or I "graded' them and placed them in a holder.

 

I have never bought a coin in these holders but I have seen several supposedly "high" grade coins in these holders sell and then reappear on eBay from the original seller. One such coin was an 1892 "Red" ZAR "MS" 1D. This implies to me that the buyer saw that it was a problem coin after they received it and returned it.

 

As far as the grades posted above, the onoy thing that surprises me is that NGC actually assigned numerical grades to all of them. Probably it was because they are all of nominal value.