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Field notes · Coins · 23 October 2026

eBay's coin check looks at the holder, not the grade

eBay routes coins priced at $500 or more through PCGS before they reach the buyer. For a graded coin, PCGS inspects the holder and its label and does not regrade the coin. The slab passes or fails. The grade inside is taken as read.

In brief

eBay extended its Authenticity Guarantee to coins on 18 August 2026: single graded US and world coins, and raw US coins, listed on ebay.com at $500 or more, US to US, with eBay covering the fee for a limited time. The seller ships the coin to PCGS, not to the buyer. In an interview published by Numismatic News on 21 October 2026, eBay's general manager of US collectibles described what happens there. A raw coin gets a multi-point inspection for authenticity and condition and is compared with the listing. For a graded coin, the holder is inspected for tampering and the label is checked as genuine to the grader that issued it. The service does not regrade the coin. eBay's own coin page lists five accepted graders: PCGS, NGC, CACG, ANACS and ICG. PCGS inspects all five.

If a holder is counterfeit or has been opened, the item fails, the buyer is refunded and the certification is deactivated. If the holder is fake but the coin is genuine, eBay's terms say PCGS may re-slab it under a new certification before it ships. A coin that clears is sealed with a tamper-evident e-tag and QR code and shipped with tracking, with signature confirmation from $1,500. Bullion is not covered. Two dated readings frame the coin market. Stack's Bowers reported a $70.0 million total for its summer 2026 Global Showcase on 17 October 2026, the largest in the firm's history, CoinWeek reported. The Federal Reserve raised its target range to 3.75 to 4 percent on 16 September 2026, and the 10-year Treasury yield stood at 4.96% on 22 October 2026, US Treasury data show. Gold was $4,127 an ounce on 21 October 2026, 5.3% below a month earlier, Fortune reported.

What it turns on

  • The slab is checked, not the grade. For a graded coin PCGS inspects the holder for tampering and matches the label to the grader. The grade inside is not reopened, and the check does not say whether it is right.
  • A failed holder loses its cert. eBay's terms say a counterfeit or tampered holder fails, the buyer is refunded and the certification is deactivated. A genuine coin in a fake holder may be re-slabbed under a new number.
  • Five graders, one checker. Holders from PCGS, NGC, CACG, ANACS and ICG all qualify, and PCGS inspects every one of them. A rival's holder is judged on its seal and label, as the check describes it.

What we do about it

  1. 01Record the holder with the coin. Cert number, grader, holder generation and label photographs, kept on the same record as the coin's own images.
  2. 02Record each hand-off. Seller to authenticator to buyer, with dates, tracking numbers and the e-tag code, on one record.
  3. 03Write down what the check proved. Holder genuine, label matching, coin matching the listing. Not a regrade. The limit belongs on the record.
  4. 04Carry both numbers after a re-slab. A new certification replaces the old one. The record holds the old number, the new number and the date it changed.

Check it yourself

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Tell us what you need held, or proven. Write to hello@brich.house