PCGS announces no more bodybags

Message from PCGS:

No more body bags! PCGS is introducing a major change in its grading process, effective for submissions received after December 1, 2008. Coins that would have previously been no-graded and returned in a body bag will now be placed in a regular PCGS holder and labeled simply "Genuine." Of course this applies only to coins that have been verified to be authentic. PCGS is dropping its Genuine-only service level. Now coins can be holdered in Genuine holders regardless of the service level for which they are submitted. Variety and attribution services will be provided for Genuine coins. For example, if you submit a number of Early Half Dollars with the Overton variety requested, your coins (assuming they are authentic) will be holdered with the Overton variety and grade or with the Overton variety and Genuine (see the PCGS website for a description of grading standards at www.pcgs.com/grades.chtml. This service will also apply to crossovers, so all your coins can now be in PCGS holders.

Thoughts?

 

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Well - at least one gets something for their money sent to PCGS.

 

It's a step in the right direction. It may make some people fell better that they at least get their coin in a holder rather than a body bag. But the bottom line is PCGS is keeping the entire submission fee either way.

 

I'd rather have most of my coins back in a bodybag than in a slab. I used to keep track and averaged around 80%-90% of bodybagged coins slabbing the very next time submitted. Now I'll have to crack those coins out.

 

Greg, I wonder if they'll include the "reason" for the genuine holder, or offer the bodybag as an option. It seems to me there are a few more details left to work out/clear up...Mike

 

WOW
I have (2) 20 coin subs , 1 is in and one is in transit. There were a cpl " questionable color" coins in each......

I'd rather have the bodybag

 

I personally like this. I have never liked the fact that you couldn't have a problem coin slabbed by PCGS or NGC. Now, I wouldn't want to slab a problem coin that wasn't very rare...but I do like this.

 

After thinking, this is good for problem coins such as key dates the like, but many BB's will holder if sent again. It just saves the cracking part if BB'd. No biggie.

 

I still like ANACS and their net grade assignment, along with what's wrong with the coin

 

I like that too...actually, what I really like is the details grade. For example, I have a low grade 1893-CC Morgan that has been harshly cleaned, it probably has VG-8 details but the "net" would be lower. I have no plans of getting this coin certified, but if it was an 1893-S...I would probably want to. My only option would have been ANACS (which is not that desirable IMHO) or NCS which is fine. I would prefer it to be in a slab that would say "VG-8 details, harshly cleaned" but I would be perfectly happy with Genuine. I have never cared for the "net" grade because that assumes a gradable deduction to the damage to the coin...and I think that should really be left to the purchaser. But, a coin with VG details has VG details no matter how harsh the cleaning was.

Now, since it is a 1893-CC and not an 1893-S it's not worth it...but I do like this idea.

 

I'm thoughtless. I also don't have many PCGS slabs...

Ruben

 

In what way ? If they're slabbed only as genuine with no grade what's the problem ?
rzage

 

ANACS quit doing that for sometime---I don't know if they started again or not.
Last I heard the only grading co. giving out Net Grades was ICG.

Speedy

 

Some more info:

The new program starts Dec. 1. New submission forms will have an "opt out" box for folks to check if they prefer coins to be returned raw. Holder inserts will include the PCGS bodybag code that applies to the particular sin that caused the coin to be put into a "Genuine" holder:

90 Not Genuine
91 Artificial Color
92 Cleaning
93 Planchet Flaw
94 Altered Surfaces
95 Scratch / Rim Dent
96 Refund - No Service
97 Environmental Damage
98 Damage
99 PVC

 

p.s. last I heard ANACS was offering net grading.

 

well, maybe. I don't know if that is entirely PGCS's problem though and they are getting at least one thing, a coin which is GENUINE, as opposed to a counterfeit.


That has some value.

Ruben

 

But isn't it better to have a PCGS slab that says genuine than a SGS slab saying MS-70 ?
rzage

 

Maybe we call it a toe tag. :goofer: