The new NGCX slabbed coins showing up

Perusing my usual web auction sites, I see coins using the new NGCX, 1 to 10 grading system showing up for sale.


So far, the ones I've seen are all the Platinum American Eagle coins, but I'm sure others will follow.
For more info on their new grading system, go HERE.

I, personally, don't care for changes, so I'm not sure many of us older collectors will embrace this new system. Being "Old School," I'm for the good old, Good, Better, Best. LOL
Thoughts on this?

 

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I am so old school that I still grade the way I was taught by the old coin shopkeeper that took this kid under his wing… G, VG, F, XF and BU….. Even when I am viewing a slabbed coin I will use those antiquated standards to sort it out in my head….. No room left in my overloaded brainpan to learn yet another grading method!

 

I would agree 100% with you as I am old school, too, but half of the coins in my collection are AU :-D

pS: the new look and grading standard are “cool” but I don’t see the point in changing a system which is just fine

 

I agree one hundred %. This is not comic books, but coins. Did collectors decide this or a company that makes a living off collectors?



This should be with the two above.

 

Well… Fact is the world moves on and those of us with our old fashioned views on things go away soon enough…. Honestly, I haven’t studied up enough on the new grading system to say whether or not it is good, bad or indifferent….. I do believe it is yet another way to build more intrinsic value into a hobby that we have already put out of reach to the average collector.

 

I think it was pretty much clear what MS69 meant… why is it called 9.9 now? Does introducing a new system really help anybody? Anyway it’s only applicable for moderns. I’ll stick to old coins… in old slabs

 

I think of myself as an old school, "if it ain't broke don't fix it" kind of guy, but I find something appealing about this concept. I like the logic and simplicity of it. I wish NGC would do a side-by-side with the Sheldon scale so I can know exactly where my AU-53 or XF-45 or VF-20 coin would fall on the 10-point scale.

P.S. I don't like the black slab insert.

 

I’m also not a fan even though it technically could be more accurate. With this system you could have what is essentially a F18 or an XF42 or AU56.

 

I'm very old school. I don't like it.

 

I don't see the point, a solution to a non-existent problem. Seems to be just another marketing scheme.

 

ANA grading standards is where I'm comfortable. Coins are coins and baseball card grading doesn't seem to fit quite right.

 

The problem is that all us "old fogy/old school" guys aren't the future of the hobby. Youngsters are. A 10 point scale such as used for sports cards or comics makes sense to them because just as Sheldon is what we are used to the 10 point scale is what they are used to.

 

Bingo. It's designed to appeal to an incoming collector base. One of a "younger" age set that happens to be used to all things metric, or divisions of 10. One that can't wrap its head around a perfect score being 70 and not a metric value as such. Word scores (such as Very Fine), out. Small incremental numeric values, in. Grandpa's sensless way of doing things goes away with Grandpa, and a new visual hook is added on top. Less effort to type on the social media and it appeals to the kids who like black wheels on everything instead of us cronies that still prefer old fashioned aluminum.
Honestly, they spend just as much effort replacing things that they dont understand, as they would just figuring it out in the first place.

Yay.

Rick L.

 

I like the black. But if just one little speck of white dust gets in, or is stuck in their, it would drive me bonkers.

As for the 10 point system, .

 

One of the guys at my LCC showed me his $1 Eagle in the new holder with a grade of 10.0. As far as I'm concerned, the whole thing is a big nothing burger. The grading scales, both Sheldon and this thing, are totally arbitrary. We could call a G-4 Brussels Sprouts and a MS-70 Rib Eye and it wouldn't matter. As long as a Rosetta Stone exists for scale-to-scale translation (it does) and is consistent over time (remains to be seen) then none of this matters, IMO.

That said, I view this as a marketing ploy by NGC to remain relevant to younger

 

…collectors. I agree :-D

 

This numbering system was dreamed up by a company and NGC agreed to do this little experiment shall we say, on the side. The company acquires the coins, pays NGC to grade and sort the coins into 3 different tiers and packs the boxes with 3 coins to a box.

Vault Box series 1 was limited to 800 boxes or 2400 coins in slabs like this. Mostly ASEs with some nicer ones sprinkled in with red cores instead of black.

Vault Box series 2 saw the number of boxes doubled to 1600 or so available and the price raised to $729 a box. It just released last week and sold out in less than 30 minutes.

So the average guy like any of us here, can’t submit coins and have them graded with this new grading system. It’s just for the vault box series and they’re not necessarily doing this for experienced collectors like you find here.

The company’s idea is to add random excitement to the coin hobby like people are already experiencing in the sports card hobby. I’ve been watching people rip open $500 packs of Pokémon cards, Star Wars cards etc hoping to get a major hit. They sell extremely fancy sports cards now in silver brief cases already in plastic cases inside. These briefcases sell for 4 to 5 figures and many people lose money on them. But people are searching for the big name one of one autographed patch card worth $25k or whatever.
Vaultbox is doing it with coins now.
It’s like a wax pack of sports cards just with slabbed coins. 3 in a box. One will be the lowest tier. The second will be a second tier and the third coin will be the most valuable and could be anything. They sprinkled in some super sets in series 2. One box has a 1995-W ASE, a 2020 AGE V75 and a $100 platinum proof. Imagine opening that box! 1 in 1600 chance. Limit 2. But costs $729 for your ticket!
It’s not for everyone and many people don’t agree with it. I find it interesting but it’s too much to risk on a gamble for me. I just wanted to explain here where the new grades are coming from to dispel confusion. They’re limited runs and not anybody can submit coins and get them graded like this.

So far the company is a hit on secondary market. The unopened boxes list for double issue price on aftermarket and many of the coins in these special slabs are supposedly going for double what they normally would. The red core ones are the nicest and only about 7% got the red core in first run. The company will buy any of them back as well for a strong price. So there’s that too.

 

The company is doing this to attract new collectors to the hobby so it may not be all bad. His philosophy is that everything else is using a 10 point grading system and even his 6 year old can understand the system so why not apply it to coins too and bring in people who otherwise might never get interested. The fact that they’ll buy any of their coins back I think adds to the desirability. I mean technically if you only got $500 worth you could sell it back to them and only be out a small fraction for the chance, but they say most people aren’t selling them back. A lot of people think they’ll be a niche market within the hobby which it already kind of is. Long term, who knows. I’ll take some popcorn and a lawn chair. Lol.