ICG Now Letting Dealers Put Name On Lables?
I decided to give ICG Coin Grading one last chance under new management, sending in around a hundred coins which initially seemed graded fairly. But then they made a decision that's the final straw for me - they've started putting dealer names on their slabs.
This move is not just a blunder but a potential nail in the coffin for a service whose reputation has been questionable for decades. Here's why:
First and foremost, coin grading is meant to be an impartial, neutral evaluation. By adding dealer names, ICG is blatantly compromising this neutrality, suggesting that grades could be swayed by who the dealer is rather than the coin's merit. This is the antithesis of what grading should be, further eroding trust in a service that's already on shaky ground.
Secondly, the slab is supposed to be a symbol of authenticity and quality. When dealer names appear on them, it transforms this symbol into a commercial advertisement, significantly diminishing the slab's perceived value. Collectors trust these slabs for investment assurance, not for dealer promotion.
Moreover, this could be the tipping point for ICG's reputation in the numismatic community. With a history already marred by inconsistency and questionable practices, this decision might push them over the edge.
Adding to the fiasco, mistakes like mislabeling dates on slabs only highlight a lack of professionalism, further damaging their already tarnished reputation.
ICG's practice of grading low-value copper rounds significantly dilutes its brand prestige, creates confusion over what constitutes collectible value, and diminishes the trust collectors place in its grading. These items generally do not require professional grading, indicating a potential decline in ICG's standards motivated by commercial interests.
I gave ICG a chance, but this latest move? It's clear they're willing to sacrifice what's left of their integrity for perceived short-term gains. I'm done sending coins their way. This might well be the final push towards irrelevance for ICG. Anyone else feeling the same?