Numismatic Authentica Company

Numismatic Authentica Company NAC Sold bogus coins Internet

13th of Mar, 2011 by User704517

It is amazing that people are actually bidding on coins that have been "so called" graded by the Numismatic Authentication Company. There is no need to buy these coins to determine the true grade, there are several sellers that are giving very good pictures of NAC graded coins and their MS66 peace dollars are between XF-45 to AU-50 at best.
Virtually all of the NAC graded coins are graded MS66+. If you believe that all are true MS66, I have some swamp land in Florida I would like to sell you.
I see inexperienced bidders bidding on key date peace dollars (graded MS66 by NAC) at prices that MS63+ coins that are graded by the top four PCGS, NGC, ICG, or ANACS (see my guide All Grading Services are not Equal) would bring, even though the pictures clearly show they are XF or AU coins.
To all the e-bay coin bidders that do not know how to grade coins, Collector Educate Thyself. You can not intelligently collect coins without educating yourself on the ANA (American Numismatic Association ) grading standards. You can not depend on the grades of Third and Fourth Class grading service like NAC, HCGS, GEC, SGS, WGC, etc. unless you have a lot of money to loose.
Some e-bay coin sellers will buy good looking XF and AU coins and send them to Fourth Class grading services such as NAC, GEC, HCGS, SGS, NNC, etc. where they are slabbed as MS66 or MS67 coins. The seller hopes the bidder is inexperienced and will pay PCGS and NGC prices for the coins. Just because a coins is slabbed as MS66 or MS67 by a fourth class grading service DOES NOT MEAN THE COIN IS UNCIRCULATED.
A recent Blue Sheet (Dealer wholesale prices for graded coins) showed a 1927 S Peace Dollar which is graded by PCGS as MS65 (Professional Coin Grading Services - See my guide on Ungraded Coins for contact information) with a wholesale value at MS65 of $5,520.00. A recent population report from PCGS show they have graded fewer than 60 1927 S Peace Dollars as MS65.
In comparison a 1927S Peace Dollar with a grade of XF to AU has a wholesale value of $25.00 to $65.00 (assuming no surface alterations - i.e. cleaning, whizzing, etc.). So what is a NAC MS66, 1927S Peace Dollar worth that is graded by NAC (Numismatic Authentication Company), somewhere between $25.00 and $65.00 MAYBE, if you are lucky and it has not been cleaned. Why because the NAC MS66 is barely equal to a PCGS grade of XF-45.
Yet I see poor souls that are paying PCGS prices for NAC graded coins. BUYER BEWARE.
Please see my other guides on "All Grading Services are not Equal" and "Buying and Selling Coins on E-bay". Many sellers will say do not buy the Slab buy the coin. Usually those are the sellers of " lower class" or "no class" grading services and NAC certainly qualifies as one of the poorest. BUYING NAC GRADED COINS IS A SURE WAY TO LOOSE MONEY.

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