Newest NGC Scam!

While entertaining my self the other night with our friends at the coin vault, They were showing a 1986 ASE in a holder I had never seen before.

It was not first strike, nor was it early releases.


It was designated FIRST YEAR OF ISSUE!

Now, I can understand the early releases (although it's completely meaningless as a judging factor of quality), or even first strike (again equally meaningless), but FIRST YEAR OF ISSUE???

That means a 1909 Lincoln Cent can be put in this special holder! A 1913 Buffalo! And the list goes on and on!

What possible benefit can there be to this new designation, and hasn't it become quite obvious now that NGC is merely trying to create more types of holders in an effort to have every coin graded by NGC?

I am beyond words on this one...

 

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While the designation means nothing to you or I, there are people who collect first-year type sets who might enjoy it.

I also agree that it does appear to be merely a marketing ploy, and does lower their respectability just a tad in my eyes.

 

The benifit is for the seller, slabber as any such words or claims

"""What possible benefit can there be to this new designation, and hasn't it become quite obvious now that NGC is merely trying to create more types of holders in an effort to have every coin graded by NGC?"""

The benefit is for the seller, slabber as any such words or claims always are - the suckers are the people who buy such stuff!

 

Absolutely!! It will be interesting to see what's next!! hya:

 

That "First year of issue" designation came out a year or two ago. It didn't go over big and I don't know if they will still use it or not. Most likely it was originally another of those "special" designations for a major promotion submitter.

 

I agree. Someone probably requested NGC to make these.

 

I prefer the "First Year" to the misleading "First Strike" or pointless "Early Release." As a pres and spouse collector I love the special NGC inserts. I appreciate most that it's available to EVERYONE, not just bulk submitters and dealers.

 

All the TPG have done new Labels

Ngc has tried a few new labels over the past few year,so has Pcgs.I don't buy a coin for a label I buy it or the grade & if they graded it right.:kewl:

 

You missed most of them. What about the state/territory/national park quarters? Every one of them is FIRST YEAR OF ISSUE!, LAST YEAR OF ISSUE! or maybe they would prefer ONLY YEAR OF ISSUE!

 

I also can't wait for the "first ever" Virgin Plastic Case

I also can't wait for the "first ever" Virgin Plastic Case with anti-scratch and UV protection, made from the finest MS-70 type plastic limited to bla, da bla, da bla, da bla, da,,,,

 

Good one!!!!!

 

Duh.....Second Year of Issue.

 

Or how about: First re-release,
Or: Error, wrong date,

Jon

edit add: have a great weekend everyone!

 

I don't see the big deal. It doesn't add value to a coin, nor takes value away so why does anybody care. A scam, really. If you don't like it don't buy it. I thought we bought the coins and not the holders anyway! Maybe NGC is doing this to make a new style of collecting: Collecting the first year of issue coins.

Regarding the holders, NGC is just upgrading their holders. Good for them for making them scratch resistant and UV whatever. I think its a good idea to improve the holders.

I am not trying to pick a fight, but I don't see what is wrong with any of this.

 

I suppose that if you slab enough coins with them they will put anything on it for you.

 

I wonder if their marketing is aimed at the collectors who don't know ANYTHING at all, IE, new collectors just starting out...?

Just a thought!

I have no dog in this fight, as they say (who they are is also up for debate!) but just a thought I had.

 

maybe they should just let us submit whatever caption we want to put on it?

 

Yep, I agree, although some of the labels aren't really misleading, many are. Having just returned to the hobby after a long absence, I was amazed to see all the misleading labels and collectors collecting wrappers, boxes and labels, rather than coins. I guess the ethically challenged sharks that are attempting to take over this hobby smell fresh blood with all the new collectors brought in by the multitude of new mint programs. Too bad, most of these newbie’s will leave the hobby once they realize they've been burned.

 

what's on your slab?

TPG's will put on an attribution (e.g., Eliasberg, Reiver, etc.) assuming you can supply them with documentation.

PCGS told me that they would grade my 2009 $20 UHR with my name on it as an attribution.
What I really wanted to have PCGS put on as an attribution was wording that recognized my contribution as the first person (at lest in this century) to suggest that the mint come out with a $20 UHR (c.f. the Numismatist March 2006, p.14). The original suggestion was for a 2007 100th anniversary coin. And yes, I did also send that suggestion to Ken Moy at the Mint in 2006.
Does anybody have a good (short) set of words that could be used as an attribution that would somehow recognize my claim to be the first person to suggest an UHR?

Bonus question: What is the relationship between my CoinTalk name and my real name? Proof 2006 Jefferson Nickel to the closest (and correct) guess.

 

Ask Al Gore, he's working on getting his due for inventing the internet. lol All The Mint does is keep a running tally of suggestions that come in, I would imagine if only one person wants an item, the suggestion goes in the dumpster and if many suggest the same thing, it may get some attention. For example, I suggested they hire someone that knows how to run that place - guess I was the only one, as they haven't acted on it yet.