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Originally Posted by The_Cave_Troll Ed, assuming I've accurately summed up Doug's position, what do you think of that? |
I watched the "grading" seminar that took place at the FUN show this past January. Bower, Travers and all of the big guys in numismatics were there taking questions. Matter of fact, you can watch the video of this meeting by going to PCGS's website:
http://www.pcgs.com/articles/article...universeid=313
One thing I took away from listening to these guys is that no two coins are identical. No two MS69's are identical. One may have a hair line here and the other else where. Still, both coins may grade out at the same grade, but we really have to state, they are NOT the same!
The purpose of my analysis was to demonstrate that some of these numbers from PCGS to NGC are
dramatically differant. I hear from supporters of NGC that NGC obviously gets more 70 coins coming across their submission tables than PCGS, but I don't buy it. When you see NGC hand out 3, 5, 7, 10 times more 70 grades than PCGS, you would think the market would respond...and the market has!
For instance, I talked to many dealers about this subject just yesterday at the Palm Beach Show in West Palm. One dealer had boxes and boxes of NGC slabbed coins for sale. $15 per NGC slab, $20 per NGC graded coin all the way to $40. He had two tables of just a hodge podge of all NGC slabbed coins for less than $40. (right across from the NGC booth who was sponsoring this meeting!) This dealer had 100's of PR69UCAM 2004 and 2005 nickels for sale at $15 each! (no Bison's) and he told me that he is trying to get rid of them because there are so many out there. Another dealer told me, that if a modern is graded PR69UCAM by NGC, it is worth at least 25% less than "same" coin slabbed by PCGS! He summed it up as "market perception" and that NGC is more liberal on grading proofs and MS coins than PCGS. Don't beleive me...Look up a Lincoln MS66RD for
any date from 1930 going forward. PCGS's MS66RD's cost and sell for WAY more dollars than NGC MS66RD Lincolns. Are all of these buyers that stupid...or do these buyers trust a PCGS 66RD more so than a NGC66RD? Somebody (a lot of somebody's) is demonstrating this market forces in action!
Sure they are exceptions here and there...but all things being equal, what I have seen, and dealers have told me face-to-face that if you have a 1914-D Lincoln graded by PCGS as AU55 and the same coin graded by NGC as AU55, the PCGS coin will sell for dramatically more dollars. Blame it on registry sets!?! Well, NGC has registry sets too!
I buy slabbed coins for a number of reasons outlined in "why slabs?", but when it comes to liquidating my collection (goal date of 2010), I want the highest bucks I can get...and I will realize that with PCGS over everybody else hands down!
