Pcgs To Slab Problem Coins!

Yup, you heard it here:
PCGS will now slab problem coins.

http://www.pcgs.com/articles/article_view.chtml?artid=5365&universeid=313

naturally, this service is available for a mere $100 additional, not including the original fee.

 

Log in or Sign up to hide this ad.

Wow, what a great deal...minus the fact that it's a horrible deal.

 

i already knew about it but ii wasnt able to get out of my own problems to address this i think its a good business idea will help them make a lot of money ancs does it and dlrc is planning to do it . i hope the collectors are smart and dont waste a 100$ JMHO

 

Great to hear from you Spock , yea $100 to tell you if a coin was cleaned , I hear theyr'e certifying rolls now too . Anything for a buck .
rzage

 

better off to go to ANACS...

 

PCGS has been slabbing problem coins for years, with grades I might add. It all depends on the coin involved and the person who submits it as to whether they slab or not. Pick up any Heritage auction catalog and read their comments about the coin, especially in the Colonial sections.

 

After getting back into the hobby after a several decade lapse, it boggles my mind that someone would spend $100 to certify a coin as "genuine" when the problem probably isn't a question of it being a fake or not, but just to have it in a slab!

 

Yep, it is not what you know, but who you are that counts for the TPG's nowadays. Want gradeflation, then be an entity with big bucks and lots of submissions and you get it.

 

Yup, PCGS ain't what it used to be.

At the ANA show (in Milwaukee) last year I was walking past a dealer's table when I spotted a Barber 1/2: 1892 O Micro O! In a PCGS slab, graded G-4.

Even tho it was priced over $5K (the price of a fine) I had to see it.
It looked like road kill on the obverse-- scratches as tho it had been dragged over concrete and the reverse was a clear AG.

I couldn't hand it back fast enough.

 

Is it just me or are grading services going downhill fast? Seems like they will do anything to make another buck

 

Absolutely, ANACS is cheaper and will give a grade along with noting the coins problems.

 

It looks to me that PCGS will be authenticating problem coins, not grading them. The "grade" of "1" that they assign to problem coins is not really a grade and is completely meaningless.

My guess is that PCGS made a business decision to offer this service to draw more collectors into their Registry Sets. There are several series where some coins are essentially unobtainable except as a problem coin (or unless you are a multi-millionaire). Collectors can now complete their PCGS Registry Sets with a problem coin where otherwise they could not compete. This can only mean more business for PCGS.

 

Did I read it right? Was that a $100 per problem coin? Wow. I can see on same rare examples - but I think PCGS graded some of those anyway, but not your average problem coin. Not even a net grade.

 

I have seen some harshly cleaned AU coins certified by NGC with grades.

 

Actually I think this is a good idea. I would also like to see all grading services grade, slab just about anyting in coins. Dented, scratched, bent, cleaned, polished and even counterfeits. If all such TPG's would start doing this I would think that there would be less of these ending up in a 2x2 and sold to some unsuspecting individual. I have heard from to many that a coin came back from a TPG service in a body bag and just put into a 2x2 and sold as a nomal coin. Maybe I'm wrong, but if all such coins were slabbed as to what they are, cleaned, dented, etc., then more coins would be sold as what they are.
As I said my way of thinking may well be wrong on this one.

 

I very rarely slab a coin. The last one I did my co-worker and I were worried about the reverse showing possible cleaning.

It went to ANACS and came back MS63. This did NOT cost me $100 (if it had been cleaned).

Thought it was a good grade and respect ANACS coins.

PCGS and NGC are going to give ANACS a nice boost if they keep up their shenanigans.

clembo

 

maybe that's the plan.
because you see, maybe all the companies are actually owned by one company/person, and they think ANACS needs the boost.

:secret:

 

Precisely, ANACS is kicked around like an ugly stepchild. Frankly I think all TPG's are sliding downhill. See my sig file...