[INFO] Non-gradable crypto coins/tokens with no numbering/first-bits UPDATE!!

MoparMiningLLC

legendary

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EIN: 82-3893490

Quote from: Steeley on December 01, 2022, 07:35:22 PM

Interesting. Thanks for sharing this MJ.

I can see the dilemma that ICG and PCGS are dealing with. They do not have a solid way to verify that the private key is actually under the hologram. There was another thread with a discussion of PCGS's reticence to grade Buyer Funded items. I experienced this myself with three amazing BF/Black lealanas. They were body bagged even though they are clearly authentic Lealanas.

The thing with Lealanas though is ALL of them are buyer funded whether marked or not. None are funded by smoothie.

And with all collectibles, there is never any way to verify the funds are actually loaded to the key under the holo unless you peel it and verify.

Steeley

sr. member

Activity: 1164

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Byzantine Generals' Problem solved,Prosperity Next

Interesting. Thanks for sharing this MJ.

I can see the dilemma that ICG and PCGS are dealing with. They do not have a solid way to verify that the private key is actually under the hologram. There was another thread with a discussion of PCGS's reticence to grade Buyer Funded items. I experienced this myself with three amazing BF/Black lealanas. They were body bagged even though they are clearly authentic Lealanas.

owlcatz

legendary

Activity: 3570

Merit: 1959

No problem, thank you for the update ! Phew! Cheesy

minerjones

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Quote from: minerjones on November 30, 2022, 01:35:42 PM

I went to ICG this morning to pick up some orders, and was informed of a new decision:

~~If a coin is "loaded" or has keys associated with it, there needs to be a way for ICG to verify this or they will not grade it.~~

I use the "Geek Bitcoin 5mbtc" coin as the example that they did not grade.
I personally talked to the grader and he stated that going forward, ICG does not want to take the risk of slabbing a coin without being able to check the public address....
which is understandable even though they provide a disclaimer on the back of their slabs "Value is NOT guaranteed by ICG"
There was also some hologram degradation, which was indicated as "not sealed" on the coin-flip and ultimately marked as "No Decision"

https://i.imgur.com/hfaGSO8.jpg

UPDATE:

So I received a phone call from ICG this morning.....
Apparently the information given to me by the grader was not authorized by the powers-that-be at ICG.
They have told me that they WILL grade this coin and others like the Lealana XMR coins
Owlcatz, you should be good to go for submitting them!

I apologize for any confusion/mix-up that has come about because of this.

owlcatz

legendary

Activity: 3570

Merit: 1959

Quote from: Kryptowerk on December 01, 2022, 08:28:03 AM

Maybe slightly OT, sorry in advance. But since I usually delay grading thinking "if really needed can be done later, but I wanna keep my collectibles accessible for now" I don't really have any grading experience.
So when you say you add a long list of demands, what would that be? Can't really think of anything else they can do except give that thing a grade and slab it accordingly. Huh

Sorry I meant more like a list of things I want/don't want...

1. which way do I want the coin slabbed? You can get it front slabbed, or back-slabbed (?)
2. Labels - You can request the Non-Casascius Labels if you want - Personally, it looks dumb to have a Cas label if it's not a Cas, but that's just me.
3. Documentation about the coins I submitted - sites to check addressses, variations and links etc etc...

I've been through enough mistakes with them to know you have to make sure you tell them exactly what you want, and I'm tired of some old-man named "Skip" calling me up asking about this or that error and why it's an error and such.... Huh

Anyhow, Maybe I'll just wait until PCGS catches up... I've been meaning to submit them for a year now anyhow. Huh

Also, just leaving the coins unslabbed for 2 years before submitting for grading can definitely affect the grades - all mine are in shrink wrapped air-tight containers for now. Tongue

Kryptowerk

legendary

Activity: 2114

Merit: 1403

Disobey.

Quote from: owlcatz on November 30, 2022, 08:43:59 PM

Well, so much for grading of Lealana XMR coins... Tongue

Thanks for this, I had about 200+ coins to send in. Now I'm Hestitant to bother... Bunch of Alpens as well.. Worth the hassles associated with this... Huh

I could print out all the details for them I guess... F-it, I usually send a long list of demands/things/etc with my submissions anyhow... Tongue

Maybe slightly OT, sorry in advance. But since I usually delay grading thinking "if really needed can be done later, but I wanna keep my collectibles accessible for now" I don't really have any grading experience.
So when you say you add a long list of demands, what would that be? Can't really think of anything else they can do except give that thing a grade and slab it accordingly. Huh

owlcatz

legendary

Activity: 3570

Merit: 1959

Well, so much for grading of Lealana XMR coins... Tongue

Thanks for this, I had about 200+ coins to send in. Now I'm Hestitant to bother... Bunch of Alpens as well.. Worth the hassles associated with this... Huh

I could print out all the details for them I guess... F-it, I usually send a long list of demands/things/etc with my submissions anyhow... Tongue

minerjones

legendary

Activity: 3206

Merit: 3596

Quote from: Bullion-n-BTC on November 30, 2022, 05:04:29 PM

When they “body bag” a coin like this do they still charge you the grading fee for it?

Nope, they are good at not charging for non-gradables.

Quote from: Suzuki Matt on November 30, 2022, 07:56:26 PM

What if the coins coa is provided with the coin to show the public key? Like for example the series one mybits coin does not have a firsts bits or a serial on the coin or holo but comes with a coa. If provided would that be acceptable?

Possibly... I have submitted some of the MyBits coins previously and they have been graded.... but maybe moving forward they will not. ? Huh

In thought, there is technically no way to associate a COA with a coin if it does not have a way of identifying it to that COA....

Quote from: Est2013 on November 30, 2022, 08:08:59 PM

Quote from: Hox on November 30, 2022, 07:43:39 PM

Interesting. Luckly not too many coins are like this. The only ones that come to mind are:

All Alpen coin releases too - wonder if ICG will be willing to search for the addy on their site with the hologram's coin #

I provide both the coin number and first bits to ICG when submitting, but if they do their due diligence, they should also be looking them up using the appropriate methods.

Est2013

full member

Activity: 399

Merit: 122

Quote from: Hox on November 30, 2022, 07:43:39 PM

Interesting. Luckly not too many coins are like this. The only ones that come to mind are:

All Alpen coin releases too - wonder if ICG will be willing to search for the addy on their site with the hologram's coin #

Suzuki Matt

copper member

Activity: 750

Merit: 114

Quote from: Hox on November 30, 2022, 07:43:39 PM

Interesting. Luckly not too many coins are like this. The only ones that come to mind are:

Wow that Coin community site is cool. Thank you for sharing the links to it. Great reference guide with addys.

Well Done Ser and Thank You!

Suzuki Matt

copper member

Activity: 750

Merit: 114

What if the coins coa is provided with the coin to show the public key? Like for example the series one mybits coin does not have a firsts bits or a serial on the coin or holo but comes with a coa. If provided would that be acceptable?

Hox

sr. member

Activity: 766

Merit: 300

Interesting. Luckly not too many coins are like this. The only ones that come to mind are:

Bullion-n-BTC

copper member

Activity: 450

Merit: 65

Physical Bitcoin is the only way to stack

When they “body bag” a coin like this do they still charge you the grading fee for it?

minerjones

legendary

Activity: 3206

Merit: 3596

I went to ICG this morning to pick up some orders, and was informed of a new decision:

~~If a coin is "loaded" or has keys associated with it, there needs to be a way for ICG to verify this or they will not grade it.~~

I use the "Geek Bitcoin 5mbtc" coin as the example that they did not grade.
I personally talked to the grader and he stated that going forward, ICG does not want to take the risk of slabbing a coin without being able to check the public address....
which is understandable even though they provide a disclaimer on the back of their slabs "Value is NOT guaranteed by ICG"
There was also some hologram degradation, which was indicated as "not sealed" on the coin-flip and ultimately marked as "No Decision"

UPDATE Dec 01, 2022:

So I received a phone call from ICG this morning.....
Apparently the information given to me by the grader was not authorized by the powers-that-be at ICG.
They have told me that they WILL grade this coin and others like the Lealana XMR coins
Owlcatz, you should be good to go for submitting them!

I apologize for any confusion/mix-up that has come about because of this.

Topic: [INFO] Non-gradable crypto coins/tokens with no numbering/first-bits UPDATE!! (Read 295 times)