The PCGS forum is successfully quashing almost any criticism of its service through good old fashioned BS and intimidation. Based on my recent experience with that TPG, they need to have a thick application of both.
That's a bit harsh but I understand how some feel that way. I have been there almost everyday for the past 20 years and see it as a great site to learn from many of the best dealers and collectors in this hobby. Don't discount the members because of the name on the site.
At least here I don’t have to worry about every word I write fitting in PCGS’s agenda. Plus some of those “big dealers” are some of the most arrogant people I have ever met, online or in person. I find it interesting that the dealers with the most high-end slabbed stuff are the most pompus individuals at coin shows. And where else to go brag about their knowledge than PCGS’s own forum? I occasionally like reading threads at CU when I am researching something, but I will never post over there.
Not all of them are that way. Many are quite helpful and willing to help collectors and do generally care about the hobby. Others are blowhards. Not every big dealer is like Legend.
It occurs to me that the only person from Legend I can mention by name is Laura. And while she can be entirely rude and condescending, her arguments are usually sound. And since Legend deals in very high end coins, I never really got twisted by any of her rants.
If you don't read there at least you're only hurting yourself. That forum is a treasure trove of knowledge overall when the trolls aren't taking over which was the biggest reason for new moderation. Many times a year. PCGS even has to disclose it as a publicly disclosed company. It's not a myth that they back it. They quashed the trolls and the people that just wanted to bash them for no reason. I read there daily and plenty of discourse is still allowed when it isn't someone just running their mouth like was happening a lot. Many overreacted to the fact that the innateness couldn't run the asylum anymore. One thing I have learned aside from I may be to young to enjoy this hobby from many online attitudes is that change is the thing that collectors seem to hate the most. Plenty of threads and posts would have been killed if it was anywhere near that bad
Laura isn't wrong about everything, but she needs to get over the PCGS-CAC only mentality. Not every good coin is slabbed by PCGS nor has every coin been to CAC. Her focus on plastic and stickers is disheartening. She could accomplish much more with her reputation and position if she would calm down and learn how to articulate and write. I agree with her about grade inflation, doctoring, and many of the other rampant abuses in this hobby. I even agree that CAC is a great tool, but she is over the top. My real issue with her is her disposition. I have grown tired of her attacks against Bill Jones and any one else who doesn't bow to her every whim. She is also incredibly arrogant and her holier than thou persona is annoying. Bruce Morelan (Trade Dollar Nut) is also a backer of Legend. He is milder than Laura, but he has his moments. I have seen him be very generous to others on the other hand though like offering to compensate Shane's numismatic victims. Overall, I'd give Bruce a net positive rating. George Huang (also from Legend) is actually a really nice guy; I like him a lot. My reference to Legend was mainly to Laura.
I agree with you over all. I'm betting people making those comments probably chimed in during one of Laura's threads (or threads by her alts) or a thread about one of her market reports. Most of them are incredibly friendly. The posters overall are of very high quality, and it always amazes me how many true, industry recognized experts post there.
At the level she regularly deals in it's pretty close. Her biggest problem is that she speaks for her niche and there is a clear divide between the high end and the rest of the market. What is mostly true at her elite end isn't necessarily true for the average collector level coin. As far as her attacks, she doesn't attack for no reason and I have no connection in her from saying that, just from observations. Many of the threads that lead to it got nuked before most people read them
TDN is extremely knowledeable and I don’t ever remember reading a thread where I thought he was wrong. I’ve never heard of George Huang, does he post on the forum? I knew you were referring to Laura and I agree with your overall assessment of her, her views, and her writing style. My point was that she (Legend) deals in the deep end of the numismatic pool. Gradeflation has suppressed the values of the coins she sells and uses the PCGS + CAC thing to separate the real coins from the dreck (her word not mine). It makes her money and makes her clients money and since I can’t afford a single coin in their inventory, I just give her the benefit of the doubt and congratulate her for what I’m assuming is a successful business model.
Bruce and Laura are on the forums. My comments regarding George were based on my interactions with him.
Pretty much all of the 1804 dollars are overgraded. TDN's Dexter Specimen even has graffiti on it yet it bears the lofty grade of PF65 (yeah right). With the exception of the PF66 (Eliasberg coin I believe) the 1913 Liberty V Nickels are also without stickers and overgraded in my opinion. TDN has posted an amazing proof Trade Dollar in a NGC PF69 holder that is blatantly overgraded and will never sticker in a millions years. All are still great coins! The coin is what the coin is regardless of label and sticker.
As @Leadfoot (MikeinFL on CU forum) used to say, coins like 1804 Silver Dollars and 1913 Liberty Nickels are more ranked than they are graded.