PCGS vs. other coin grading services

That is exactly my point. Yesterday that is how business was done. Today the market is totally different, and again the market feels the current situation is the way to go. Otherwise every dealer would sell raw coins at shows and I have yet to see any more then 1-2 dealers at a 100 table show selling raw expensive coins. You can not agree with how business is done but realize you are in the vast minority of people holding your opinion. Instead of shopping at one store I can search them all on the internet in seconds and get a reference for prices using pcgs grades. Then I can go coin to coin and choose my favorite for way less then you pay Macy's.

 

Log in or Sign up to hide this ad.

And, just like the TPG's, the inspectors guarantee their work. If they say the house is termite free and it falls down next week, they pay for the house. If PCGS says it is an authentic MS70 and it is proven to be either counterfeit or MS69, you get all or some of your money back. And, from personal experience, you do get your money back.

 

I too have collected coins both before tpgs and with tpgs . Now I developed the skill to grade coins , at least the ones I collect , but would hate to go back to the old days where every dealer graded differently . That might have been ok for buying coins but not for selling . Almost all dealers back then would grade a coin higher when selling and lower when buying . Throw in all the different graders a coin bought as AU could be a EF or even a VF at another dealers . This wasn't due to dishonesty but more on individual grading habits . JMHO .

 

Wow that got ugly......

 

Or so some would have you believe. Specifically PCGS.

The reality is that its simple market perception as grading is an opinion. Nothing more and nothing less.

PCGS WANTS you to believe that they have stricter grading standards but I know of one fella that submitted his PCGS coins for crossover to NGC and some "downgraded". As stated in a thread ATS, the simple fact of the matter is that PCGS "sells" for more money than NGC even though the grades are comparable.

IF, I were a grading company, I would want to stifle the competition. I would look at the grades they assigned to a coin and look for a reason NOT to agree with that assigned grade. Exactly the same way that many on these open coin forums do. It's actually rather easy to do when its somebody elses money.

NGC Crossovers to PCGS start with a black eye and then go down from there.
Likewise, PCGS crossovers to NGC start with a black eye and go down from there.

 

I am sure you have a nice sticker collection at home

 

Another major reason for grading companies is the flood of fake crap coming over from china. I stated collecting before tpgs long before the Internet and the floods of fakes on feebay. One of my major focuses is trade dollars. Being graded is the ONLY way I'll buy them without seeing in hand. It's extremely hard for me to find problem free coins with good color even graded and at the major auctions. Without this confidence to buy online I'd never be able to find what I'm looking for. The grading companies not only help people who are knowledgable about coins and can grade them selfs buy sight unseen. But also help newer collectors who haven't acquired the knowledge be able to buy coins and not get burned with all the fake garbage out there now. I'm all for the grading companies I just wish pcgs would get a little more consistent

 

Who invented the term "raw coin?" The grading services of course.

 

Maybe you should collect sea shells instead.

 

Actually, I remember the term being used widely by collectors to differentiate before the grading services caught on and started using it. This was when ANACs was just grading and inserting the graded coin in a flip and paper clipping it to a photocard ( black/white photo of coin) and mailing back.

 

are you capable of doing anything other then throw around insults, reminisce about the "good ol' days" and post about how everything in the coin industry is corrupt?

and seriously, learn to post under the quote so you don't have to use multiple messages. I know you probably are still working on programing your vcr but please try to keep up with us youngins.

 

Seriously?! I happen to know a fair amount about coins and there's plenty here who know far more then me. Why don't you prove you have some knowledge rather then just putting everyone else down or is that just a cover up for the fact your full of crap

 

there are some people who really and truly believe that the fact they have walked the earth for a long time means they are an expert and the other younger children have no idea what they are doing. the need for an actual knowledge base is secondary to age.

 

Agree I'm just getting fed up with so called experts that think they know it all and really don't. The tpgs have provided a very useful service in the industry. I don't think ther the be all end all and the only way to go like some do. I can grade coins and not all slabbed coins are good and not all good coins are in slabs

 

I am relatively new to the hobby, but IMO, the TPG's made it much safer for me to spend money on the hobby. I typically buy coins in either NGC or PCGS attire. I trust their opinions. I don't always agree with their grade, but I know the coin is authentic, problem free and worth examining.

Because of the NGC and PCGS, I can purchase coins while I learn more about the series. I don't have to sit on the sidelines and become an expert before buying a coin.

 

The tpg's are the only reason I have bought any coins in my adult life. I don't think the hobby needs special legislation but the whole environment is just too much for me to take without tpg's. I would never spend serious money without the standardization they provide. If I have to wait to be an expert before buying I would just walk away and take my money with me. Honestly I just don't have and don't want to invest that much of my time. I might not make every deal great but at least I don't have to worry anywhere as much as I would without tpg's.

I enjoy being a collector. I just don't have the time or interest at this point of my life to become an expert. I'm an expert at what I do in real life. Hobbies are supposed to be fun pastimes.

But the market has already spoken. While some hate tpg's , and represent yesterday instead of today and tomorrow, not mentioning anyone by name (onofrio) I think it is crystal clear that the market truly loves them. Just go to any coin show and see how many coins are pcgs and ngc. The numbers talk much loader then anyone here can.