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Rank: HSN Forum Member
Joined: 11/4/2009
Posts: 11
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I am curious as to whether the "guaranteed for perpetuity" warranty that Mike Mezack of the "Coin Collector Show" always talked about with ICG graded coins is still valid. Isn't the owner of Independent Coin Grading in bankruptcy? I am sure that tens of thousands of people who bought ICG graded coins would like to know whether the bankruptcy affects their coins, or are they safe? [color=darkred][/color]
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Rank: HSN Forum Member
Joined: 10/10/2008
Posts: 168
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John see my post in Today's special..in reply to your post..
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Rank: HSN Forum Member
Joined: 7/6/2008
Posts: 163
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John, your post started me thinking about the coins I recently bought from the other shopping channel S-NBC...I purchased 4 2009 Silver American Eagles graded by NGC as a 69. They were also certified as early releases. I paid $43 for each, which I felt was a decent value. Especially since the US Mint will not be releasing 2009 Silver Dollar American Eagles - proof and uncirculated - and I didn't want there to be a gap in my collection. I felt better about my purchase when I read your post that NGC is a top rated company..but I do wonder now about what kind of guarantee S-NBC offers re their coins. Will have to check into that...thank you for your informative post...
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Rank: HSN Forum Member
Joined: 11/4/2009
Posts: 11
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You got a good deal because anything graded by NGC or PCGS can be trusted 100% Those are the only companies that I trust when it comes to standing behind their guarantees. I learned the hard way with so many of my ICG coins having been found to be overgraded. I always wondered why mezack never offered thousands of Proof 70 coins graded by NGC or PCGS on his show. Maybe somebody could enlighten me as to why that is!
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Rank: HSN Forum Member
Joined: 10/10/2008
Posts: 168
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Gee...I wonder why..They don't ask for "tesimomials" during Mike's shows????????..  
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Rank: HSN Forum Member
Joined: 7/6/2008
Posts: 163
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The coin shows have been on in the middle of the night. Next coin show is Nov 14 2-4 am....wonder why they don't have them on in prime time anymore.
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Rank: HSN Forum Member
Joined: 11/4/2009
Posts: 11
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They may have started getting lots of complaints about the outlandish prices they are charging....not to mention the quality of the product. I sent in 17 coins graded by ICG to be looked at because I didn't think they were graded properly. It turned out that 14 of the 17 had been incorrectly graded. All of the Perfect 70's that Mezack guarantees for perpetuity turned out to be 69's or less. Only 3 passed inspection. It has cost me thousands of dollars when they downgraded the coins so if you have bought anything from Mezack, I would have a good coin dealer give you his opinion on the coin....especially if it is a 70. The only grading companies I trust are NGC and PCGS. I had somebody from ICG tell me that a number of graders left ICG and went to work for ANACS. What is Mezack selling now???
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Rank: HSN Forum Member
Joined: 7/6/2008
Posts: 163
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99% of my coins were purchased from the US Mint. I have several coins I purchased from HSN years ago, but they were not graded. The vendor was from a different company at that time. As I mentioned in a previous post, the only other time I purchased from a TV vendor were the 2009 silver American Eagles BU Early releases I purchased from S-NBC a few weeks ago. All of the coins I purchased from the US Mint were never graded. I have tons of coins that my Mother accumulated; none of those were ever graded. Actually, I just never gave it a thought. Is that something I should do? Where do I take them?
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Rank: HSN Forum Member
Joined: 11/4/2009
Posts: 11
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I would leave the coins you got from the mint as they are. No need to grade them. Just enjoy their beauty. It cost over $25 to have a coin graded professionally so I would not do that either. I would look into joining a coin club in your area. They love talking about coins and can tell you if there are any valuable ones in your accumulation. A coin dealer will give you far less than your coins are worth so the local coin club is your best bet. If they are very valuable, you can sell them on EBAY or consign them to auction houses for a fee. Or keep them and pass them down through the family. If you have friends who bought graded coins from Mezack, I would hope they would take them to a coin dealer for an opinion if the grade is correct. They don't charge for that. Keep me advised. Would love to help.
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Rank: HSN Forum Member
Joined: 11/4/2009
Posts: 11
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One of the things I would do is to cash in the silver Kennedy Half Dollars if you have any. The 1964 version is 90% Silver and the dates from 1965 to 1970 are 40% silver. Unless they are in extraordinary condition, they are only worth the price of the silver which is at a point where it is worth cashing in on. The rest of the silver I would keep until you buy a red or blue book showing you the value of the coins. Book stores carry the red coin book and it is easier to get. The blue book is what dealers pay and the red book is what you can sell them for, or vice versa. Either way, the prices are usually way off but it will show you which coins and mint marks are worth more. You may have a very rare date so I would seperate your coins into the various denominations and then look for the most valuable dates. Any old Morgan dollars or any coins from the early 1900's or late 1800's have potential value. Buffalo nickels are especially valuable when you have a 1937 D 3 legged variety. There are a couple other valuable nickels as well. And don't throw your new pennies away. A 1955 Double Die Obverse is worth hundreds. (DDO means that it has been struck twice by the mint but it is slighly off and it looks like 2 images on the coin, although minor.)I just sold a 1972 DDO penny for $450.00. Going through your accumulation will be fun looking for potential treasure. Too bad you don't live in the Northern California area. I could help you with it, or suggest an honest coin dealer. Good luck
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