The rare coin industry underwent a change in the mid 1980抯 when the first Coin Grading Services opened up. The goal of these Coin Grading Companies was to establish trust, that when a buyer would purchase a coin that was graded by one of these Certification Services they would know that coin was graded accurately by a professional grader.

Unfortunately there are currently no laws or requirements in place to stop someone from opening up there own Coin Grading Service. Some dishonest people used this as an opportunity to make a a lot of money by selling coins that were grossly overgraded by there own 揼rading service? Most of these overgraded coins ended up being sold on Ebay, since there was a large number of new collectors who were unaware of this scam.

This coin grading scam was so successful that thousands of these overgraded coins have been sold on Ebay over the last few years, and the result is buyers have already lost millions of dollars from buying overgraded coins.

There was pressure on Ebay to do something about the huge amount of overgraded coins being sold on Ebay, and on October 1, 2007 Ebay established new selling requirements that banned sellers from putting the name of there scam coin companies in the title and description of the Auction. Despite the new rules, this has not stopped Self Slabbers from scamming buyers.

Most coins graded by Self Slabbers are 5 to 15 points overgraded.

LIST OF THE 6 LEGITIMATE COIN GRADING SERVICES

PCGS
NGC
ANACS
ICG
SEGS
PCI

IF A GRADED COIN IS NOT GRADED BY ONE OF THESE GRADING SERVICES, DO NOT BUY IT, IT IS PROBABLY A SCAM.