ICG - Are they accurate?

[Mrweaseluv]

Each of the 4 big TPGs has their own positive and negative issues. But you asked specificaly about ICG. Of the 4 I find ICG to be the most consistant in thier grading meaning the same coin submited 5 times would likely get the same grade 4 out of 5. The drawback is that they add the least premium on resale (but still better then a raw coin) When I finaly decide it's time to "slab" the $20 LC set it will be ICG they get sent too not one of the others... but then, I never intend to sell those coins so premium/resale value means nothing... if I planned to sell the set I would send them to PCGS or NGC as I could expect as much as 50% higher resale prices...

I was just speaking to the owner of my local coin shop (about something ICG related but I'll start a new post about that one). He told me that ICG consistently wins the grading contest at the Long Beach Coin Show every year. So, he knows this full-well, yet he's only willing to pay raw coin prices for ICG. I don't get it. They're like the Rodney Dangerfield of grading services!

I know one of the ICG graders so I "may" just be a little biased, but he's never steered me wrong

[RevElvisLee]

So, he knows this full-well, yet he's only willing to pay raw coin prices for ICG. I don't get it. They're like the Rodney Dangerfield of grading services!

B/c, as with so many other things, sadly, nowadays, its name brand that counts more over quality. The dealer is probably thinking if he pays more for it, then he will not be able to make any money b/c people won't pay him more for it.

And unfortunately, he'd be right. I just ended up selling my MS64 IGC '27 Peace Dollar for just over half of what I know it should have sold for. I sold it for more than I bought it for, but by the time you factor in the sales tax I had to pay (curse you, Wayfair) and eBay's 12.55% cut, plus the $5 ad fee which is now pretty much obligatory if you want to compete at all, what should have been a win for me turned into breaking even. The only ones who made any money were eBay and the Great State of California. I guess I know why the call it a "hobby"!

[RevElvisLee]

So... I guess there's one way to find out if my ICG MS64 Peace Dollar is a PCGS MS64 Peace Dollar. Too late to turn back now.

The Dremel worked really well! And I feel a little sick.

[Earle42]

That is the nicest crack out I have seen. I have read where other just take a pair of pliers and crack the plastic.

[RevElvisLee]

That is the nicest crack out I have seen. I have read where other just take a pair of pliers and crack the plastic.

One thing you can say about these ICG holders is they feel nice and solid! But a Dremel with a small circular blade along one edge was all it took, then a flathead screwdriver to carefully pry it apart. This was my first crackout. Kinda nerve-racking!

[Earle42]

Kinda nerve-racking!

Yes, but just like an ex-con - its enjoying freedom again!

[markustg]

I held a VF35 ICG graded 1872 Indian cent in my hand yesterday, in a my new favorite coin store. The co-owner and I chatted a lot about it and I will not speak for him, but he for sure knows his stuff.
I am no indian cent expert but I play one on TV ( I have take the ANA grading coresponsece course, I have all Rick Snow's books, and I can click on PCGS photograde on-line ).
I bought two coins yesterday but not the 1872 Indian cent even though I am looking for a VF + XF coin.
The coin in the ICG holder looked over graded and at best VF-20. In addition all the highest high points looked "rubbed or buffed or cleaned" so I was betting if I sent it to NGC, PCGS or ANACS it would come back VF-20 cleaned or details
This is only one experience but since it happened yesterday I thought I would post it about what I saw in the ICG holder.

[Earle42]

Sort of like these PCGS slabs?

No grading company uses scientifically verifiable standards to grade. When people start to see through the marketing (and mass mindset) hype, they can find slabs like this from all the grading companies without having to dig thorough huge piles of slabs (see the essay in my signature!).

If I had a ruler where all of the markings on it it were just drawn on as what "looked to be the right spacing," I have a ruler with inherent problems and have to have a wonderful marketing department to get a business selling those rulers up and going. The loyal followers would eventually step in line.

Harsh, but true. The grading companies set up as being subjective, then turned to a legitimate scientific standard in the 90s, and then abandoned it for their original opinions-only system. This was despite them selling their computerized system by saying it gave the actual grade of a coin and was not subject to the errors known to be made with human grading.

Most likely the above was b/c when a coin always grades the same way - no more profits come in from the profitable re-slabbing game.

Accuracy can only be had by comparing to a verifiable standard.