Problems with Coin Grading Companies: IBN Coins

INB Coins is one of several coin grading companies that currently do business with coin collectors. Unfortunately, unlike the major reputable coin grading companies, IBN does not seem to have the same reputation for quality grading and consistent grading that is necessary to become an industry leader.

The best advice when dealing with any coin grading company is to thoroughly evaluate the coinage you are prepared to purchase, and be prepared to get a second or even third opinion, before finalizing the deal. This is especially true in the case of collectors who are looking to their collections as a means to increase their net worth.

If you are new to numismatics, you may be tempted to purchase from INB Coins due to the fact that they have a substantial number of coins which are graded as MS 70.

However, more experienced coin collectors realize that coins with a perfect grade are few and far between – it simply isn’t feasible that INB Coins would have so many perfect coins, when other top coin grading companies rarely grade more than 1/10th of their coins in such a fashion.

The grading system used by INB is thought to be a proprietary, in-house grading system that does not translate to other coin grading companies, which can cause major problems down the line if you decide to sell a coin based upon a grade that INB provides.

When It Looks Too Good To Be True…

Another clue to the problems that INB Coins faces as a coin grading company is the feedback given by the coin collecting community itself. There are a number of forums, blogs, and other sites listing complaints ranging from coins with obvious flaws being graded much higher than they should be, to accounts of fake coins being graded and sold as authentic.

While there are bound to be complaints against even the most reputable companies, the amount of complaints against INB seem to be exceptionally large.

Overall, your choice to deal with INB Coins, or any other professional coin grading company, should be based upon your own judgment as to the reliability, professionalism and reputation of the company itself. Make certain you research the coinage that you wish to purchase before you start shopping around for a company to buy from, and it is less likely that you’ll find yourself the victim of unscrupulous coin grading.