Comments on: WHEN CHEAP IS NOT CHEAP ENOUGH http://www.coinlink.com/News/commentary-and-opinion/when-cheap-is-not-cheap-enough/ Rare Coins & Currency News for Numismatic Collectors - Updated Daily Mon, 07 May 2012 19:57:47 +0000 http://wordpress.org/?v=abc hourly 1 By: John Wray http://www.coinlink.com/News/commentary-and-opinion/when-cheap-is-not-cheap-enough/comment-page-1/#comment-53662 John Wray Tue, 02 Jun 2009 16:37:36 +0000 http://www.coinlink.com/News/commentary-and-opinion/when-cheap-is-not-cheap-enough/#comment-53662 <p>It would be nice if you did an article on different shows on Home Shopping shows that have salesmen hawking all of these Perfect 70 coins and charging an arm and leg for them when, in actuality, they are probably 69's or 68's which was my experience. I have been foolish enough to purchase numerous coins over the years from a certain HSN coin collector show and the results of recent regradings were startling. 14 of 16 coins graded by the company that they were dealing with (ICG)were misgraded, which lowered the resale value by tens of thousands of dollars.</p> <p> One of the coins I bought is valued by PCGS at $9750.00 as a PR70DCAM but the value drops to $53 when graded a PR67DCAM. I have 2 coins graded PR70DCAM by ICG. They are from the 1999-S Silver Statehood Quarter set sold by HSN and Mike Mezak who is the salesman for the Coin Collector show. I sent the entire set into PCGS to be regraded and reslabbed into what I thought would be a PR70DCAM set worth a great deal of money. Every coin was graded lower than 70. Three of the coins were graded 69 and the other 2 were lower than that. The $9750.00 coin was not a 70.....it was a 67...How bad can a grader be to be that far off? </p> <p>I sent it back to ICG along with 9 other coins for regrading. They admitted that 7 of the 10 coins submitted were overgraded, but they held their ground by swearing that the $9750.00 coin was a 70 and not a lower grade. PCGS graded it a 67 so I had them grade it AGAIN....Same result a 70!!! </p> <p>I think it would be nice if you could mount a campaign so that every person who ever purchased an ICG graded coin from HSN submit it to NGC or PCGS for regrading. I believe that HSN wouldn't mind since Mike Mezak who is the host of the Coin Collector show is always saying that the PR70's are guaranteed for perpetuity so he must be right. Except for the 14 of 16 overgraded coins that I submitted. </p> <p>Please contact me if you have any questions. I do have a question that you might help me with. Did the graders from ICG recently go over to ANACS to grade for them? Also, didn't HSN start selling ANACS graded coins about the same time? A friend of mine said something like "They are following the easy 70's" Just curious!</p> It would be nice if you did an article on different shows on Home Shopping shows that have salesmen hawking all of these Perfect 70 coins and charging an arm and leg for them when, in actuality, they are probably 69’s or 68’s which was my experience. I have been foolish enough to purchase numerous coins over the years from a certain HSN coin collector show and the results of recent regradings were startling. 14 of 16 coins graded by the company that they were dealing with (ICG)were misgraded, which lowered the resale value by tens of thousands of dollars.

One of the coins I bought is valued by PCGS at $9750.00 as a PR70DCAM but the value drops to $53 when graded a PR67DCAM. I have 2 coins graded PR70DCAM by ICG. They are from the 1999-S Silver Statehood Quarter set sold by HSN and Mike Mezak who is the salesman for the Coin Collector show. I sent the entire set into PCGS to be regraded and reslabbed into what I thought would be a PR70DCAM set worth a great deal of money. Every coin was graded lower than 70. Three of the coins were graded 69 and the other 2 were lower than that. The $9750.00 coin was not a 70…..it was a 67…How bad can a grader be to be that far off?

I sent it back to ICG along with 9 other coins for regrading. They admitted that 7 of the 10 coins submitted were overgraded, but they held their ground by swearing that the $9750.00 coin was a 70 and not a lower grade. PCGS graded it a 67 so I had them grade it AGAIN….Same result a 70!!!

I think it would be nice if you could mount a campaign so that every person who ever purchased an ICG graded coin from HSN submit it to NGC or PCGS for regrading. I believe that HSN wouldn’t mind since Mike Mezak who is the host of the Coin Collector show is always saying that the PR70’s are guaranteed for perpetuity so he must be right. Except for the 14 of 16 overgraded coins that I submitted.

Please contact me if you have any questions. I do have a question that you might help me with. Did the graders from ICG recently go over to ANACS to grade for them? Also, didn’t HSN start selling ANACS graded coins about the same time? A friend of mine said something like “They are following the easy 70’s” Just curious!

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