Bitcoin Forum

There are a lot of mixed feelings out there involving Anacs grading services, where do you stand?

I never used them. Was gonna once...but after I saw them grading a Satori chip...that really turned me off. So never did...never will

Soooo...Eat Shit and Die

So are there no other places to get coins graded (that will take physical cryptocurrency coins)?  I have some stuff that I need graded that I never got around too.  Also, what about magazine grading?

I believe there is one other, but I can't recall which one it was. @Lesbian Cow has mentioned it a few times though.

As for magazines, I did find this site, but can't vouch for it obviously. http://www.cgcmagazines.com/

I am sending a few things to ICG - cas coins and a gold bitcoin penny.  I will report back.

I voted ANACS can Eat Shit & Die because Fuck Anacs!

I'm waiting to hear what LC has to report on IGC. Turn around time, grade, quality of the hologram, price, return shipping, and how they treat their customers in general. With any luck, who knows, maybe they won't have a "Paul", on staff. ;D

Nope wont use them. Ive never personally used them and tbh i have trouble sending in loaded coins to a grading service where all it takes is one rougue employee and you are in your own nightmare situation.  I know they have delivered to many people here but with my luck id be the one outlier.

I've sent a few things to ICG since the ANACS nonsense started.  So far so good.  Turnaround times are spot on to their estimates or even earlier.  Grades so far are pretty comparable to what I've come to expect from ANACS.  In fact, they were pretty tough on a Sol Noctis I sent them recently, so it's not as though they are just rubber stamping high grades over there.

If there is one issue I have with ICG at the moment is that they seem to think that Bitcoin is two words "Bit Coin" and that is how it appears on the label.  Annoying, but not the end of the world. 

Anacs can suck my balls, not that they were any good before the change. But now its just madness sending anything to those fools.

Eat shit and die Anacs! Any trusted EU located grading service?

I have only gotten a few coins sent into their for grading, took forever. I am a big fan of the new cases I really like the jungle green but not many people do... the warning there will just scare off new people but anyone buying a loaded coin should understand how to confirm a balance.

LOL.. I think you are the only person who has said that about the jungle slabs. Personally, I would not mind them so much if they changed the black ink to white so you could actually read the slabs better, but according to PAUL, the PRICK at ANACS who orchestrated that whole f'in mess, said NO, NEVER! on that suggestion.... LOL... Anyhow, I'm done with them. I've sent back MS69 coins for reholdering since the new holograms on the back practically flake off on touch, and one came back looking like it got dropped on a concrete floor, it has a big fucking ding in the rim at 6pm sharp... If you saw this coin, you would never think it was MS69 anymore. I called and screamed at them. I will probably crack the slab and just put it in an airtite. I'd feel like a scammer even trying to sell it, omg I was so fucking mad at them LOL... :P

Is it time to fly to Colorado, throw on our Guy Fawkes masks, and throw rocks at their building?  I have been waiting for this moment!

Would you mind posting a photo of it? I think that is crazy they would send a MS69 out with a ding in it

With blazed's first thread, I believe there was ONE person who was a newbi who said he didn't mind the new slabs

I think that if enough people complain about the slab stickers they will do something, every single photo that blazed posted the stickers were messed up.

But maybe now that no one will use them they will hear us/blazed/other people out

I'll post it in the am, have to go for now sorry! :P

also searching for that ;)

Sure, have a look. 6pm. first pic on top is magnified, no direct light. second pic you can see the damage actually goes a bit further towards 5pm. It was clearly dropped. It was perfect before I sent it back for reholdering because the hologram on the back was literally falling off.  :P

https://imgur.com/a/nCbJ6

You can even see it in the slabbed coin. Anyone would be pissed to buy this as MS69!  :'(

Physical crypto was never my thing, but for the brief years that I was somewhat of a coin collector I learned that ANACS is a 3rd tier grading company.  Their old slabs, the small white ones, were actually pretty, and the grading was pretty spot-on.  Then somehow those slabs morphed into these testicle-twisted monstrosities, which are apparently being still further degenerated in aesthetic quality as time goes on, and their reputation for accurate grading is swirling around in the same bowl.  Figures.

ICG?  If I recall correctly, that was one grading company coin collectors advised absolutely staying away from.  It's a company that's probably being run out of a school for the blind, that's how fucking off they have a reputation for being.  Man, if I were you guys I'd petition PCGS and NGC to start grading crypto coins.  They're the only ones who are really trusted in the traditional coin community, and their slabs don't look like they've been heat-warped.

Just my opinion--and it's obviously one from someone who doesn't collect physical crypto--I'd probably keep the coins raw rather than send them in for grading, at least until a more reputable company can do it.  As wheelz1200 has pointed out, there's that potential for theft once the coin is out of your hands, and a lot of these I would imagine have very high "intrinsic value" attached to them in the form of being loaded with bitcoin/doge/whatever.  I'd be a bit paranoid as well.

I believe you; they probably dropped it and said "fuck it".  To my eyes and from that picture, it doesn't look that bad.  I've seen MS69 coins with more flaws than that, so I've come to believe that a coin that was never intended to be circulated has to be extremely defective in order to earn anything lower than that. 

I'm sure the graders don't have all the time in the world to spend on any given coin and don't take any more time than they have to to examine one.

I agree. I think it's absolutely worth our time approaching PCGS & NGC.  Why not, right? I don't know if there's any best way of approaching them but I'll happily write up emails or whtvr..a petition of some sort maybe? Is there really any way that these two companies revenues have not being going down at least a little over the past few years?  A struggling collector hobby which is rapidly loosing it's main customer base. Which should be telling when in the past decade the world's economies have mostly been booming.

Just FYI, I've been an investor in CLCT for a while now, which is the PCGS company, and their stock price has tanked as of late and they cut their dividend in half recently.  They're in trouble.  So my opinion is that it absolutely would not hurt for them to be approached by the crypto coin community to see about grading some of these great tokens (that's the difference in their eyes, these are not "coins").  I'm actually kind of surprised that they haven't jumped on board with this yet.  Usually if a competitor is making money from something, a la ANACS, a company will follow suit.

As I said, I'm not part of this community.  Have either PCGS or NGC issued any kind of guidance regarding this?  Has anyone approached them?

That's what I'm saying, but I have to profess ignorance as to whether anyone has requested they start grading physical crypto yet.  And I'd find it hard to believe that they'd be unaware of the existence of these fine pieces of exonumia, since these people specialize in coins and, I would presume, know a little something about tokens--AND that they would at least keep an eye on what ANACS is doing.  My guess is that they see it as a small market and have their hands full already, grading the yearly silver eagles and other bullion products by the thousands.

I'd be curious to know how many total crypto coins you guys have sent to ANACS per year and whether there would be enough demand in their eyes.  Grabbing less than 100% of a what's already a small market might not be worth it to PCGS or NGC.

Wow- I always just assumed they were private like NGC.  They absolutely got hammered in early Feb.  I'd say branching in to other sectors WITHIN their playing field could and would make a lot of sense.  I've not seen anyone say they've had any sort of serious dialog with either company.

You make some great points. Unfortunately PCGS and NGC are not interested as the risk vs reward is not favorable. 

What's the risk, if I might ask?  I get that the reward might be pretty small, but I'm not seeing how grading crypto tokens is risky, at least any more so than traditional coins.

Both NGC and pcgs guarantee the authenticity of the coins they grade.  If you buy a coin in one of their slabs and it turns out to be fake they pay you the market value of the coin as if it was real.   That  would be most unfortunate  for them if a seiries of loaded coins were swept after they graded them.

I'm not sure this would be the case for loaded Crypto but it would definitely be nice.  :)

On a side note - I've seen USPS registered mail being touted as up to 50k USD of insurance available.  Has anyone claimed and received compensation for a lost registered mail shipment that had loaded value?  I've seen some information on the web that makes me think USPS would NEVER pay out an insurance claim for a loaded value for a Crypto related coin which is why I ask.

I do registered quite a bit for Casascius coins and other high value items. Never had to make a claim as they seemingly rarely get lost.  That said, I would never try to claim loaded crypto value as I agree that would be a very difficult battle.  I always make sure my package weighs enough that i can claim there were X ounces of gold in the package and that is equal to the actual value of what was in the package.  I have legitimate invoices for gold purchases.

Right, but as you pointed out yourself they don’t guarantee the authenticity of denarius coins..why couldn’t it be the same where it’s a sub sector simply with a different set of rules? We also have to remember they charge more than ANACS & who’s to say the couldn’t tack on a little extra “crypto” fee..I’d be okay with that if reasonable. If they don’t seriously consider it they’re fools. In today’s world businesses are constantly branching in to new sectors that have nothing to do with their core business. That isn’t even the case here. It makes too much sense to me.

Hmmm, you make a very valid point.  I spoke with NGC about this in December, I send a small amount of coins to them for grading on a regular basis, and that is what they told me.  Perhaps the volume is not enough to interest them?  Companies like MCM send them 100,000 plus coins per year for grading, we are small potatoes to have to set up a new process for.

It still might be worth someone asking. Is there anyone who does a fair amount of business with them, that could ask?