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Critical Things You Should Know About Grading Services and Coin Grading Fraud

The age-old saying, "If it sounds too good to be true, it probably is," applies to purchasing gold coins and rare coins nowadays. If you are asking yourself how a seller can list a $5,000 coin for $500, then it probably is too good to be true. Most likely that coin listing is a scam for graded coin value fraud.

What is coin grading fraud?

Unscrupulous sellers may list an auction for a coin that was graded by a third tier grading company; however, the seller will claim the coin value according to the Professional Coin Grading Service (PCGS) values. For example, the seller may list a photo of the coin or group of coins and link to PCGS values.  These sellers make it look like the gold coins were graded by PCGS, when in fact, they are overgraded and in third tier slabs.

A buyer may see that the coin is graded and slabbed, but they do not realize the problem until it is too late. There are different levels of coin grading services, and each has their own standards. Most likely this coin was graded by a grading service that does not have standards as rigorous as those of PCGS.

In order to not be taken advantage of by unscrupulous dealers attempting to sell you a coin, look at the slab the coin is in. If it is not in a PCGS holder, then the PCGS values are not applicable.

If you have been a victim of gold coin grading fraud, find out your rights by calling a knowledgeable coin fraud lawyer at the Voss Law Firm at 888-614-7730 today for a free consultation. Attorney Bill Voss will also give you a copy of his book, Coin Fraud - Is Your Investment at Risk? for FREE.
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The Voss Law Firm, P.C. represents clients on a local, national and international basis. We proudly serve companies and individuals along the Gulf Coast and around the globe on a contingency fee basis. Our law firm collects nothing unless we recover on our client's behalf.

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