Is a TPG still good to grade your coins today for more money than when they assigned the "WRONG" grade in a old holder many years ago when you got on board with them? I would love to listen for reasoning on this topic.
What was right many years ago was based on the standards of the day. Things change and market grading is now a big factor. Chris
I understand the various reasons in favor of it, but it occurs to me, that to an intelligent, well-read collector, a coin would have the same value regardless of the number on the insert.
In most cases, you should send a coin to be graded or re-graded ONLY when you are selling the coin and wish to extract a premium. Paying to grade a coin then having sit in your closet for years isn't cost productive since what you state in the OP is highly probable.
That I can agree with. The TPGs have used market grading since the day they opened their doors for business.
And anyone who suggests the market is fixed and unchanging is making a mistake, IMO. Markets change. Collectors change. The only thing that stays the same is change.
A large amount, (I would say a majority but then again I am a jerk), of collectors cannot grade well. So, they accept TPG grades. As to why grades change, that is because it suits the TPG to constantly be changing standards. Its like lightbulb manufacturers. The ones who made great lightbulbs went out of business since their lightbulbs never broke. Its only those manufacturers who intentionally made a product that will fail AND NEED REPLACING that stayed in business. Any TPG who graded properly every time to a external recognized grading source would eventually go out of business. They NEED to change their grading standards periodically to encourage resubmissions. Ignoring MS70 modern coins, there is a finite number of coins needing grading. So, they need to find a way to encourage those coins to get graded multiple times. I do my part to help them out, cracking open almost any slab I happen to buy.
I don't buy any of this. That "finite" number of coins needing grading is potentially in the billions without even considering resubmissions. Chris
Really? Which coins NEED grading? I say commonly counterfeited issues, or ones where a tiny grade difference matters. Those number in the billions? Why all of the "excitement" about rattlers? People get all giddy at the thought of being able to buy one to resubmit. That is because the grading has loosened, and many times regrading it will net a new higher grade. Exactly what the TPG's want to encourage more volume.
One small problem with you not buying that Chris. The facts say otherwise. For example, prior to, 2001 I think it was, NGC would not even grade any coin minted after 1964. So it took them 14 years + or - to figure out that they had reached that finite number of coins that "needed grading". So, if they wanted to stay in business then they had to change their policy and start grading moderns. In today's world, well over 50% of all the coins graded by NGC and PCGS both are moderns - coins minted after 1964. And it is also interesting to note that most numismatists agree that of all the remaining raw, ungraded coins minted before 1964, 80% or more of them are problem coins which would not grade if they were submitted. So yes, there is a finite number of coins that "need grading" - if you exclude moderns. If you include moderns, then yeah, there are billions of them. If it were not for them grading moderns the TPGs would have gone out of business long ago.
Reconsideration is not about having coins to grade it's about regrading the mistakes and making someone pay for the upswing in value. Out of the over 25,000,000 they have already graded there has already been a few heavy hitters paying up for the big dollar up swings and the service is less than a month in practice. Oh did I forget to mention that if the coin doesn't upgrade then the owner still keeps that old holder that he can hype as being likely under graded.:devil:
