Coin Vault-NGC thoughts

Just watching Coin Vault and getting madder and madder. You know, I can understand hustlers. It's NGC that is really making my stomach turn. Genuine "authorized fascimiles" of baseball players, going over the "rarity" of white insert gold kennedy's versus black, almost everything they talk about is about the plastic. Very little is actually said about the coin.

Do they TPG companies even care the damage they are doing "beanie baby'ing, mint with mint tags" they are doing to this hobby? How many tens or hundreds of thousands of people will get 10 cents on the dollar for these pos'? It is our hobby, not the tpg, that will suffer.

I know it's been talked about before, it just peeved me off tonight. Anyone buying this stuff should make sure they at least buy pm coins, to set a minimum it will be worth, melt.

 

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That's what capitalism is about. If it makes a profit, don't worry about the consequences.

 

Yeah, I'm a little pissed off over where the TPG's are taking the coin collecting hobby since they are now expecting folks to invest in "paper", not coins.

There is nothing I can do about it though other than NOT buy those specific products which I won't.

Say, do you remember this one:



Do you suppose that this story lit a fire under the TPG's butts about "Hey, what a great idea!"

 

I wonder when the bubble will burst.

 

Soon, very soon.

 

Sorry for the rant, I just got po'ed last night. I think what really set me off was the Coin Vault guys going on and on about the "rarity" of certain autographs that were on the slabs. Does nobody know what the word Facsimile means anymore? What is even the POINT of putting a fake autograph on a slab? It went from slabs-slabs with real autographs of a coin designer-fake autograph of baseball players. When the TPG is putting fake autographs of sports players on slabs, or offering different colored plastic inserts, isn't that the tipping point where it truly is only about the plastic and the coin is only incidental?

 

Why don't the TPG's get together
in the Frankenstein lab and come up
with the "universally accepted and ever so popular grading reform for real this time grading standards?" Then they can spend their time re-grading 30 million slabs instead of worrying about baseball cards and facsmile autographs. Do we have thing of everything for them?

 

Don't forget the mint will always be providing new coins that need 70 holders so people can have their name on the registry sets

 

I agree at some point there will be "maroon slabs" or something completely resetting the grading scales. There has to be really, for them to maintain volumes. They are getting some volumes with world coins, but us pesky ancient collectors continue to be a market they are not having much luck with. I will pay $50 less for a slabbed ancient than an unslabbed one, and that is only if I am in the mood to crack out a coin.

 

How's about Howland Wood memory
lane slabs. For his dream of:

A SCHEME FOR A UNIFORM STANDARD FOR CLASSIFYING
THE CONDITION OF COINS

Howland Wood published in the
ANA Yearbook 1910

 

Pcgs way of continuing submissions is detailing coins that are in fact problem free seems every submission they napalm a couple cleaning enviro damage qc etc I've talked to a couple other long time dealers who said exactly the same and most of the time it'll grade clean the next time around. Yet their also passing some wretched crap coins obviously cleaned enviro damage scratched graffitied etc. and over gradin some too their wicked inconsistent lately

 

Remember a few years back PCGS floated the idea of scraping the 70 point scale for a 100 point scale (That got shouted down so they created the + grades instead and at least in house are creeping toward decimal point grading.) Eventually either the 100 point scale or decimal grading will probably come to pass, and all of those previously graded coins will now need to be set in and graded again with the new scale. frankly people are so hung up on the 70 point scale I would think it will be the decimal point grading that will win out. It is much easier to get acceptance for "tweaks" to an existing process than the replace with a completely new one.

 

It probably will sir. Considering its nearly impossible to get 5 knowledgable numismatists to agree on a MS grade, and even some variability in circulated grades, going to decimal point grading will truly be fruitless. But, it will make TPG more money, and that is all that counts.

 

I think that attractive packaging helps. Some colorful designs on the labels do make the overall product more attractive. that is why there are a good amount of label collectors within numismatics. A Coin slab is just protective packaging with a condition grade on it. Marketers have been making packaging more attractive for years because it yields an increase in sales. But there are limits and these autographs are crossing the line.

 

Luckily for the rest of the world, paying people to imprison coins in plastic is a purely US quirk, at which we can only wonder, and say, while observing the finer and finer graduations, who'd enjoy this stuff?

 

That's not true PCGS has expanded to Europe and china in Asia. As well as Brazil in south america.