Wednesday, January 23, 2008

Ebay to Change Policy on “Certified Coins” in its Auctions

(With an increase in the number of people wanting to know more about the coin grading policy at ebay and the subsequent lawsuit, I am posting various items that may help people find the answers they are seeking - A.C. Dwyer)

There are reports, confirmed from several sources that as of Monday September 17th, ebay is going to amend its Seller Policy with respect to the listing of Coins and Currency.

The new rules will only allow a coin to be listed as “Certified” if that coin has been certified by one of the following authorized grading companies:

* Numismatic Guaranty Corporation (NGC)
* Numismatic Conservation Services (NCS)
* Professional Coin Grading Service (PCGS)
* Independent Coin Grading (ICG)

Listings for certified coins must now use new grading attributes within the Sell Your Item form, which will include “Grading Company,” “Grade” and “Serial Number”, and must include an image of the item, showing the coin in its graded holder, front and back

If any coin listed is not certified by one of the above authorized grading companies, the coin will be considered raw/uncertified and is subject to following requirements.

Raw or uncertified coins are defined as any coin not graded by one of the authorized grading companies above. Sellers will be permitted to list these items on eBay so long as a numerical grade is not included in the listing title. Also Sellers will not be permitted to mention the name of any Non-authorized grading company in either the Title or Description of the listing, and NO reference to any price guide or price/value amount may be made with reference to the coin being sold.

So, why the change and what does it really mean? . . .

Full story at: Link

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