I was looking around ebay for graded MS70 Marine commemoratives. Most of the NGC certified coins are going for about 120. There was only one PCGS that I found and that ended last month and went for over 900. I was under the understanding that generally, NGC and PCGS are pretty much iinterchangeable. Is there a reason that there aren't any PCGS MS70's out there or as this uction some kind of abnormality. Here's a link to the auction: http://cgi.ebay.com/2005-P-MARINE-C...376555743QQcategoryZ41108QQrdZ1QQcmdZViewItem
So you're implying that NGC 70's do? Like I wrote earlier, i thought that the two companies were comparable. Am I wrong on this? Why was NGC more lenient on this issue?
The auction that i referred to stated that there were only 38 at pcgs. Seeing how there were prob. 38 auctions for ngc 70's, I'm assuming that there are more than that. Why is this? Aren't the two companies similar in grading standards? I mean, were not talking about a second or third tier company here. Why was NGC more lenient on this issue?
Ok....some cold hard truth. Grading Co. are not perfect....in fact they are far from it---But in this case PCGS and NGC are the best. Now on some coins like Morgan Dollars and Franklin halves NGC is better....on some coins PCGS is better. You just have to learn what one is better on the coin you are wanting. From the looks of things...with this coin it might not be that they aren't good...its just that for years people have heard that PCGS is the best....and when you hear that over and over and don't search it out you tend to pay more for something that is just like the cheaper item. Therefor some people just don't like NGC...and they are willing to pay $$$ just to get a case with the letters PCGS on it. The grade MS/PF70 is really something else...I, like others don't think there is such a thing...you will always be able to find something wrong with a coin so I think the top is MS/PF69--but that is something else. If I were you and was wanting this coin...I would go for NGC. Now here is a little list I keep in my head and remember when buying graded coins..... PCGS--Tneds to be loose on someitems ...slow turn aroudn time and sellers hype up the prices of these coins--bad on Morgan dollars/Franklin halfs FBL/Dimes FSB and FB/Standing Liberty Quarter FH/Jefferson Nickels FS--seem to be alright with VAMS NGC--tend to sell cheaper--are just as good on most coins and better on--Morgan dollars/Franklin halfs FBL/Dimes FSB and FB/Standing Liberty Quarter FH/Jefferson Nickels FS-- ICG--are great on older coins but aren't hot on coins after 1964 and high grades--they are great on varieties and errors....maybe the top in that line...also really good on finding fake coins. ANACS--great on most coins---don't have many PF/MS70 as they are hard...they are hardest on Jefferson Nickels and Franklin Halves--they are on of the tops in varieties--fast turnaround...almost the fastest--friendly staff--are great at spoting cleaning and damage. PCI--overgrades but you can still find a good coin every now and then....seem to be hard on Dimes FSB(1916-1945)--they also seem to be alright with fake coins. SEGS--haven't seen too many...seem to be lose on most coins but I hear that they are good for the variety type things. And more... That is just a short list and I'm sure I forgot somethings....keep reading and searching--and asking questions Speedy
Lately the PF70s have been going for $150-212. I paid $99 for one two months ago and at the time I thought I overpaid...
IMHO these coins will go down after awhile....after the people that bought as many as they could start to sell....the market will flood and the prices will drop down a nice bit. Speedy
Well I checked PCGS, there are only 42 MS70's. Does anyone know if one of those cable coin shows was selling the Marine Comm. I was thinking the HSN one. I know they often offer NGC slabs. This might account for the huge number. Just wondering if coins submitted by hSN get graded a tad easier. Maybe I'm just being cynical.
WOW! They did blow that one out, that looks like about 1/3 of all of the MS70's they have graded in modern commemoratives. John
No they do not use the same grading standards - no two grading companies use the same grading standards. As a general rule, you will be able to find more coins slabbed as a 70 by NGC than you will by PCGS. Why this happens nobody can prove, but there are many assumptions made. Some say it is because PCGS is tougher. Some say it is because by slabbing fewer 70 coins PCGS can help maintain the belief that they are the better grading company and thus maintain their market share. Some even say that there is a quota system in use by PCGS. Whatever the reason, holding up how many coins a given company grades in a single grade, MS/PF70, as a measuring stick doesn't prove anything. All of the grading companies use the market grading system - that however is not the same as saying they all use the same set of standards. So there is no way to say which company is better, tougher or stricter when it comes to grading. That's because grading is subjective and it will depend on who you ask as to what answer you will get. There really is only one measuring stick that can be used to compare the grading companies - and that is consistency. And when it comes to consistency, NGC beats PCGS hands down. Unfortunately, not enough people know that.
$300,000.00 a Year Job at PCGS How many coins would you have to grade a week to make a salary like this one in a current help wanted advertisement by PCGS. http://online.amospublishing.com/Re...AB2BCB422800DF6EE26B1C27196504AA15D002&Mode=G John
That is quick! I would have thought a decision involving thousands if not ten's of thousands of dollars would take at least a few minutes.
Sometimes it does, but as a general rule it doesn't. About the only time it takes longer than a few seconds to grade a coin is when there is some question about the coin in regard to its authenticity.
assumming: 1) the average coin is graded in 12 seconds, 2) the graders can maintain that speed over a 40 hour work week, and 3) that the graders work 50 forty-hour weeks per year, then they grade about 600,000 coins per year. That means that the master grader making $300K is paid ~50¢ per coin that they look at. That means that of your $30 PCGS fee only $1.50 of it is actually paid to the graders (3) who work on your coin. makes you wonder where the rest of the money is going...
PCGS grades about 100, 000 coins a month - 1.2 million a year. NGC grades about 150,000 coins a month - 1.5 million a year. The graders get what they get, and they probably deserve every penny. As for the rest, it's easy to see where it goes - advertising takes a huge chunk, normal business overhead for building facilities, utilities, taxes, accounting, materials etc., you can bet travel takes another huge chunk. Sure they make profits too - wouldn't be in business long if they didn't. And I see nothing wrong with that. Businesses are expected to make profits.
Nor do I, but customers will also look for the best value for their money, which tends to drive the price down in a given market until there is very little profit for any firm. Just the nature of microeconomics. My point is that there seems to be a lot of markup on the actual value of the product (in this case the grade rendered by an expert). Most corporate executives would say that a company's biggest expense is it's employees, but in this situation that doesn't seem to be the case (the expets only receive 5% of the cost of the product). It looks like there is room for the price to decrease and eventually people will choose cheaper services that provide the same quality. my 2¢
