SGS, or Star Grading Service, is a coin grading company that has attracted significant scrutiny and concern within the numismatic community. While SGS does offer coin grading and encapsulation services, it is generally considered a “third tier” service, [according to The Voss Law Firm, P.C.].
Here’s a breakdown of common concerns regarding SGS coin grading:
- Inflated and inconsistent grades: Many sources allege that SGS assigns significantly inflated and inconsistent grades compared to respected grading services like PCGS and NGC. This discrepancy can mislead buyers about the true condition and value of coins within SGS holders.
- Misrepresentation of value: Some sellers on platforms like eBay have been accused of using SGS-graded coins to inflate their perceived value by comparing SGS grades to those issued by top-tier services, which have higher standards. This can lead unsuspecting buyers to pay more than the coin is actually worth.
- Impact on new collectors: This practice is particularly concerning for new collectors who may not be familiar with the different tiers of grading services and their varying standards. They may unknowingly invest in SGS-graded coins at inflated prices and face disappointment when trying to sell them later.
- Reputation within the hobby: The consensus within the dedicated numismatic community is that SGS is not considered a trustworthy grading service. Experienced collectors often recommend treating SGS-graded coins as raw coins, disregarding the grade assigned by SGS, [according to a Reddit thread].
Important Note: It’s essential to distinguish SGS from SGC (Sportscard Guaranty Corporation). SGC is a reputable grading service primarily focused on trading cards, [notes SGC Grading] . The concerns discussed above relate specifically to SGS, the coin grading service.
For serious coin collectors and investors, it is crucial to rely on reputable grading services with consistent and widely accepted standards. The industry-leading services in coin grading are generally considered to be:
- PCGS (Professional Coin Grading Service)
- NGC (Numismatic Guaranty Company)
- ANACS (American Numismatic Association Certification Service)
- ICG (Independent Coin Graders)
These services are known for their expertise, accuracy, and adherence to established grading standards, and their grades are widely recognized and accepted in the coin market.
What does sgs MS70 mean?
It stands for Mint State 70 and represents a perfectly minted coin. More specifically, a MS70 coin doesn’t show any signs of scratches, wear, or other imperfections even at 5x magnification.
What is the average cost to have a coin graded?
The PCGS grading cost for a standard U.S. coin is generally between $22 and $150 (depends on the coin’s value and the service level).
Who owns Segs coin grading?
Thanks for asking. SEGS is the Sovereign Entities Grading Service, a coin grading company run by Larry Briggs. Larry is a error and variety expert, coin dealer, and numismatic author. He started SEGS in 1998.