Checking to see if any of you have visited or used the new Dominion Grading third party site. This was PCI and purchased by DLRC company. They are doing some new, and in my opinion interesting things. Pricing also seems reasonable. Like to get your opinions.
Excellent point, the possible conflict of interest will not make it easy for them to market dealers or wholesalers. Also as far as collectors, we may have a difficult time moving our collections when we choose to do so. I have a few sets of raw triplets, I am thinking about possibly sending them out to three different graders including Dominion and see what happens.
Dgs I think they have positioned themselves in a very unique place, and in some ways have an edge over PCGS & NGC. Visual Population Report Signature Series Grading (Rick Snow for Coppers) !!!!!CHEAP costs!!!!! They will also have a lot of market exposure as they are already being sold on DLRC's site. I just purchased a 1923-S MS-64 Peace Dollar that I think could pass as a 65 somewhere else. I plan on buying some more type coins of theirs to compare with ones I already have. I have a slew of NGC MS 64 Peace Dollars, and I am sure the on I purchased is a PQ coin. I am also going to push a proof Indian Head through the Signature Series to see what happens. Supposedly for $25 buck Rick Snow grades your coin and sign's the slab. Sweat Deal or what????? Have a bunch of common pre-1933 gold I am going to send to them as well.
PCGS was started by dealers while they were still selling.... Everybody talks about buying the coin, and not the holder, but it seems people really do rely on the holder more than themselves. Otherwise the conflict of interest would not be seen as so big a "risk". Anyways, if DGS doesn't stay honest they have 2 companies to lose... DLRC & DGS, so they have a huge incentive to deliver a great product. Furthermore they are giving the public a FREE way to keep them honest. The Visual Population report would kill them quicker than a conflict of interest. If they do a crappy job, they made a terrible decision to show it to the world. Personally I think they will rank #3 in the TPG world very quickly as ANACS is not going to be hard to push out of he way. If their grading is superior to PCGS & NGC it will also be available for everyone to see. NGC & PCGS couls start a visual pop report, but they are at a hude disadvantage for not having it since the beginning. That wuld be one hell of a massive reholder program. Furthermore the signature series grading will create an entirely new market for high quality coins if they can get the right experts on hand.
I am thinking about doing the same with a 1960 D/D DDO1-O-III. Last week going through two OBW 60D rolls I found three of these puppies in the second roll. They look to me like sure fire 64 obverse and hopefully 65 with 65+ reverses. Can't be a bad thing to have JT Stanton sign the slab.
Their slabs are marked so you will know which ones were DLRC coins when slabbed and which were not. It seems to solve that problem in my mind.
WOW, lol, thats a new one !!! I know the company has a top notch reputation. I'll leave the success of DGS up to the pros, and will pay a little more attention I guess.
Bust Half Dollar BoneDigger should wiegh in on this with his opinion... Check out the BHD below!!!!! http://www.davidlawrence.com/auctio...1&CFTOKEN=B99AD236-1624-483A-851169AD5E4077AD
I believe the Serial number of the coins certified while DLRC coins will start with a "D" and the non-house coins will have no letters in the serial number. It will be clearly differentiated. I realy do think they have a chance, though it will take some time for it to catch on in any serious way. I know they have been busy based on a recent conversation with one of their graders.
I have some PCGS MS 64 Morgans that are dogs compared to this one: granted not all years, mintmarks are created equal, but come on... http://www.davidlawrence.com/invent...1&CFTOKEN=B99AD236-1624-483A-851169AD5E4077AD
Based on those two samples they're batting 500 IMO. The bustie is graded correctly, the Morgan is overgraded.
I tried to make this point a while back when hey first started grading coins, and nobody seemed to accepting.... I think DGS will catch on quickly. They way they introduced their service is going to force PCGS & NGC to backpedal while having to offer something new.... If they do catch on why send another coin to ANACS? DGS has an opportunity to put some other services in check, and for ANACS/ ICG I would almost guarantee a check mate. What will really surprise me is if their grading prices stay cheap. It would seem to me that their coin values are already being marketed at PCGS prices. Whether or not their coins will fetch those prices any time soon is another question.
I don't know much about BHD's, but the Morgan seemed to me like are really nice 64. However here is a picture of a 81-S Morgan in a PCGS old holder that looks pretty darn nice as well. http://www.davidlawrence.com/auctions/viewitem.cfm?Inventory=252805&auc=24057&lotid=429102
The '81-S is a bit of an anomaly. They are commonly found in very nice condition, virtually mark free, very well struck and with booming luster. IMO that one is a 63.
I agree with you. with the so called "tier twos" having enough problems among themselves. I have found ANACS to have changed for the worse and ICG is so slow they will grade scrap metal if you send it to them. DGS will take time to catch on and when they do expect the prices to be as high as the "tier one " boys. I believe it is worth a shot for some pieces you expect to keep at least three years. The price is now right.
DGS is taking dead-aim at the weaknesses in the top tier TPG business models. I congratulate them for their astute observations about needs that aren't being served. If they can operate efficiently with integrity and keep the standards high, they have a decent chance of becomming the equal of NGC and PCGS someday.
I think you are correct. What they have effectively said is: We will gaurantee the coin's grade.... LIKE PCGS/ NGC We will not body bag.... LIKE ANACS We will do it for cheap.... We will add Signature Series We will add visual population report for free So in theory they are doing everything the other companies are doing, but they are adding other great features as well. Biggest drawbacks are they do not gaurantee copper, and there is no price guide yet. I'm sure the price guide will come with time, but this is something that has to be developed by studying the market.
