CGS grading and price hiking

[Peter]

Whilst I acknowledge CGS pertain to set high standards in grading I'm not sure they are not milking the system.

This farthing went for £90 in their Feb 09 auction and was subsequently graded at CGS85 and now on offer for £150.

Once its in the slab you won't see the problem at 3 o'clock.

I also emailed them regarding a "finest" George 1 farthing which had spots of verdigris....no reply.

Whilst I welcome london coins in the market.....don't buy the slab.

http://www.londoncoins.co.uk/webcatalogue/124/L295R.JPG

[Peckris]

Once its in the slab you won't see the problem at 3 o'clock.

Not to mention the problem at one oclock.

[£400 for a Penny ?]

Whilst I acknowledge CGS pertain to set high standards in grading I'm not sure they are not milking the system.

I also emailed them regarding a "finest" George 1 farthing which had spots of verdigris....no reply.

Yes, agree with that wholeheartedly.

Overall, I think it's a good product and I use it frequently, BUT, I don't like this 'best known in population' business and certainly not the price tag that goes with it. Let's face it, in most cases the total population in slabs is very small, often less than 10, some of the prices one sees for 'best known' say an UNC85 is sometimes twice that for an UNC80. Most of that price premium seems to be because it's the 'best known'. What, out of 10 they've slabbed, I don't think I care.

I have also found that they only reply to emails when they want to.

Another slight irritation is that of provenance. They are quick enough to list a coin as being ex London coins, but it seems if a coin comes from another dealer's auction, it is not deemed worthy of note and the field is left blank.

I think it's fair to say that there is a business plan in place.

It is, however, a very stiff test of a coins grade and they seem to be very consistent. I mainly get my pennies from two sources, one invariably comes back graded lower than the other source.

Whatever else you may feel about them, they don't overgrade.

[1949threepence]

Whilst I acknowledge CGS pertain to set high standards in grading I'm not sure they are not milking the system.

I also emailed them regarding a "finest" George 1 farthing which had spots of verdigris....no reply.

Yes, agree with that wholeheartedly.

Overall, I think it's a good product and I use it frequently, BUT, I don't like this 'best known in population' business and certainly not the price tag that goes with it. Let's face it, in most cases the total population in slabs is very small, often less than 10, some of the prices one sees for 'best known' say an UNC85 is sometimes twice that for an UNC80. Most of that price premium seems to be because it's the 'best known'. What, out of 10 they've slabbed, I don't think I care.

I have also found that they only reply to emails when they want to.

Another slight irritation is that of provenance. They are quick enough to list a coin as being ex London coins, but it seems if a coin comes from another dealer's auction, it is not deemed worthy of note and the field is left blank.

I think it's fair to say that there is a business plan in place.

It is, however, a very stiff test of a coins grade and they seem to be very consistent. I mainly get my pennies from two sources, one invariably comes back graded lower than the other source.

Whatever else you may feel about them, they don't overgrade.

and yet the 1869 farthing in the link, looks a tad overgraded to me. But maybe that's just me.

[Peckris]

and yet the 1869 farthing in the link, looks a tad overgraded to me. But maybe that's just me.

It could just be that Bun Britannia, which was notorious for not always being fully struck up.

[1949threepence]

and yet the 1869 farthing in the link, looks a tad overgraded to me. But maybe that's just me.

It could just be that Bun Britannia, which was notorious for not always being fully struck up.

Plus the fact it's also got edge damage, as you and Peter have pointed out.