ICG - Making the Grade

Thursday, December 17, 1998

        One of the most important aspects of the coin business, often overlooked, is that of change. Some like to call this progress. Those of us who have been around this hobby (transcended to a business) for thirty years and longer, can recall the days when it was a very slow methodical collector market. The Buyer and seller took their time in examining the coin in the potential transaction. Today, examination is just as important, only the buyer examines the slab first, then the coin. Progress is what makes the coin business so interesting to so many people.

        In the past twelve years, we have seen several certification services begin operation in order to fill a need for protecting the consumer as well as the coin from damage. The top three grading services are NGC, PCGS, and ANACS, with several others catering to a smaller group of collectors. A new grading service is breaking ground at this very moment. The Independent Coin Grading Company has examined the marketplace and will attempt to satisfy certain areas of the market. They have mailed submission kits to dealers and began grading coins this week. We have spoken to numerous dealers over the last few months about the potential of this new grading service. Many feel that they have high ideals and are to be commended for their basic philosophy.

        According to Keith Love, President of ICG, they have much to offer the numismatic community. First, ICG offers a no bias, no conflict of interest policy, as all coins are submitted to ICG through a separate receiving company. The graders will not know whose coins they are grading. Also, ICG owners and employees may not buy or sell coins, as they will lose their jobs and any stock they may hold in the company. Submitting dealers will benefit from the fact that there is no grading charge for coins ICG does not certify. Further, by issuing a $3 credit for the return of the ICG insert tags, they will maintain an accurate population report. Love also states, "their quick turnaround times will help preserve dealer cash flows." In addition, the sonically sealed, attractive packaging with the Securegram hologram system will immediately reveal any evidence of tampering. Most importantly he concludes, "We offer expert, consistent grading by some of the most respected names in the field; this is our primary mission."

Visit the Independent Coin Grading Company's Web Site at  www.icgcoin.com