Jump to content
Sign in to follow this  
Coin Database

NGCcoin Limiting Coin Lookups

Recommended Posts

Coin Database
Posted (edited)

Anyone noticed that NGCcoin is now limiting coin lookups / verifications to only 8 checks, whether you are a registered member or not?

This may have an adverse effect on all NGC graded coins going forward.

I have already heard some dealers abroad considering sending clients with NGC graded coins to get it regraded at places like PCGS.

I for one also buy a number of NGC graded coins on a daily basis from a number of platforms. If they do not lift this limits, I too may no longer be interested in these coins if I cannot verify the authenticity thereof - especially where I cannot see the actual coin physically.

Edited by Coin Database

Share this post


Link to post
Share on other sites
jwither

I am not aware of your observation.  I was aware that NGC now requires knowing the coin specifics (date, denomination, country) in addition to the certification number to perform the look-up.  The consensus opinion in the US seems to be that this is a protective measure against counterfeit holders.

For those who are not aware of this problem, sometimes the coin in the holder is also counterfeit but more often, it seems to be a genuine but over graded coin in a fake holder.  I have never heard of this happening with a non-US coin (though it presumably does on occasion) and only heard of specific examples involving a PCGS holder, not NGC.

Share this post


Link to post
Share on other sites
Coin Database
10 hours ago, jwither said:

I am not aware of your observation.  I was aware that NGC now requires knowing the coin specifics (date, denomination, country) in addition to the certification number to perform the look-up.  The consensus opinion in the US seems to be that this is a protective measure against counterfeit holders.

For those who are not aware of this problem, sometimes the coin in the holder is also counterfeit but more often, it seems to be a genuine but over graded coin in a fake holder.  I have never heard of this happening with a non-US coin (though it presumably does on occasion) and only heard of specific examples involving a PCGS holder, not NGC.

Yes, like I said only some will be affected. Rather your more serious collectors who buys quite a bit on a daily basis. I buy more than 10 slabbed coins a day from across the globe and rely on NGC to check the slab and coin since the sellers are in China, USA, Russia, Europe, UK, etc. I have been affected.

To answer your question about non-US coins, last month I have reported 7 fake slabbed Krugerrands and 8 different other SA coins on 4 different sales platforms.

But, since I stopped collecting NGC coins and only do PCGS for now, I seem to be receiving much better quality coins in my opinion. I am also now awaiting 4 coins where the sellers in the US were told sales will be confirmed only upon regrade with PCGS. Most actually goes with this.

Share this post


Link to post
Share on other sites
jwither
5 hours ago, Coin Database said:

Yes, like I said only some will be affected. Rather your more serious collectors who buys quite a bit on a daily basis. I buy more than 10 slabbed coins a day from across the globe and rely on NGC to check the slab and coin since the sellers are in China, USA, Russia, Europe, UK, etc. I have been affected.

To answer your question about non-US coins, last month I have reported 7 fake slabbed Krugerrands and 8 different other SA coins on 4 different sales platforms.

But, since I stopped collecting NGC coins and only do PCGS for now, I seem to be receiving much better quality coins in my opinion. I am also now awaiting 4 coins where the sellers in the US were told sales will be confirmed only upon regrade with PCGS. Most actually goes with this.

https://www.cointalk.com/threads/ngc-limiting-coin-lookups-verifications.318528/

Here is commentary on this subject from another coin forum.

I don't see anyone other than a dealer being affected by this practice.  I have never heard of any collector buying 10 coins practically every day or anywhere near it.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×