OH boy...I just went off on PCGS

maybe the share holders of pcgs stock would like to see this .....I KNOW I WOULD !!!!!!!

 

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Jack
That comment:

"wait.....you submitted the coin and paid a submission fee already right? that does not include an opinion? just a slab and an insert?

What a cheap ghetto crackhouse way of bilking the customer for more money, ban me, whatever, thats my opinion.

I have seen Detroit ghetto crack dealers with more concern for their customers ."

was priceless!

I am certainly glad that you don't have strong opinions!

 

Yep ! That is a classic !

Strong opinions, and those who will voice them, are what drive change for the better. Go get 'em, Jack ! :hammer:

 

I'm with Arizona Jack on this one.

Just curious, anyone have an idea of this comes out to for an "hourly rate" (meaning how much time is actually spent on a coin that's been submitted.).

 

That is why i miss my off the wall TPG I used to use. They weren't high end, wern't well known and are not accepted by 97% of the field, but he was knowledgeable and pretty on the spot with grades and authentication

If you have something to put in plastic for whatever reason, you couldnt beat $3 and the slabs were as hard as hell to crack open.

 

EXCELLENT question. Same thought occured to me.

I was thinking in terms of INCREMENTALLY - i.e. how much EXTRA work is needed to produce this fabulous $20 "value add".

I'm thinking an extra 30 seconds to just type it in to a computer at the moment of grading. That's $2400 / hour.

Even if it takes 2 minutes, that's $600 / hour. :headbang:

Must be using attorneys !

 

oh boy....

um, were you banned?

 

Here's my comment Jack.

"They have gotten beyond greedy".

I usually charge $20 for this but I like you Jack so just send me $10.

 

Heckuva deal, right there ! 50% off !

But still about $1200 / hour.

 

you owe me 20 for reading your tirade, if you would like a comprehensive review, its another 30

 

And for that $20 you get

"Not good enough."

 

It seems a little steep to charge 1 ASE just for an opinion to a customer who already paid 1.5 ASEs for the slab.

 

Hey Jack, Did your Prozac prescription run out? LOL...

 

ROFL

"Not good enough." - Which is what you got in the first place, which is why you wanted the $20 opinion about the $30 opinion ! :headbang:

 

Ya know, it's easy to ridicule PCGS. Anybody can do that.

But it's better to ask what we, the market place, did to spur them. After all, they only offer services which they feel are in demand by somebody - a portion of the field of collectors.

Maybe this is an offshoot of the Crackout Game.

Someone submits a coin, thinking they're gonna get a point or two and score big. Then it comes back at same grade - or dropped a point - and they want to know why...

... so they can make a decision about whether or not to submit again.

So maybe it's not PCGS's greed we should be concerned about - but rather our own.

 

You know.... I have had a night to sleep on this and wonder if I should just keep quiet at times, instead of spouting off with emotion rather than with logic.

Todays new opinion is the same.

EDIT. I really need to add this. It is not classy to cross the street and trash someone else either, so let me clarify. I am not trashing anybody who posts there, they are all good folks with personal opinions, and it is a fun site and I have made some great contacts there. I AM trashing a policy that I think is trash. I hope that comes across right.

 

the problem is that there will always be a demand for a slab. Its done across the entire span of the collectible markets. From coins, to comic books, to action figures. And in all honesty, who do these slabs benefit? Your answer: the high end collector/investment collector and the slab companies themselves. In all honesty, I own 1 slabbed coin. The reason for buying it was to be used as a comparison for grading purposes. I dont care if I never own another slabbed coin. What's the fun in that. I love the idea of searching coin shows and making my own opinion on grade and deciding weather or not I like it enough to add it to my set or collection. I also dont see the reason for paying the mark up for a slab either. To me, the whole process is outrageous.

 

As Jack stated, it's all about greed.
It's greed from people that know next to nothing about coins that are trying to make money off of those who do.
Those greedy sods are paying the likes of PCGS to be their advisors, so to speak.
It seems that their advisors are trying to price themselves into exclusiveness, while they exclude those that built their foundations.

Icarus, anyone ?

 

Dang, the thread already went poof. I have to agree it is pretty ridiculous what they're doing.

 

$20 is nothing when asking for an opinion.

If you learn from it, how can you put a value on that.
Ask yourself how much that investment will help you in the future.

I have no problem paying for an education on what I do not understand 100%. If it helps me in the future that's really cool.

Every business must cover the cost of paying great people to give knowledgeable answers. PCGS has some really great people.