What's the story with NGC slabs with NO grades . . . . . ?

Folks,

I recently came across a few NGS slabs that look to be legit, but have zero grade on them. No "details", no "authentication", just a description of the item inside.

They don't have a registry number, but DO have the holographic label on the back.

Are these legit? Is this a "lower" grade of service they offer? What's the story?

I find these mostly on "private mint" items like Dan Carr pieces, etc. Even ANACS and ICG put grades on these strikes. What's up with MGC?

Z

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Neither are coins.
First one is a restrike.
Second one is a medal (private issue).

 

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Why even bother with them then? ANACS assigns a number . . . . . .

Z

 

Somebody wanted to spend their money. My father taught me a few lessons in life. Two of which are, never count someone else's money. And second, never tell them how to spend it.

 

They don't officially grade or certify these items. What they do is put them in a slab for special occasions. It's technically a promotional slab and can be done for a number of organizations. For example, Carr slabs were done for the Sarasota Coin Club, which is local to NGC.

Edit: and they don't do this for anyone. It has to either be an organization they want to help out or a dealer (I tried my luck at requesting to have some made and was denied).

 

In addition, sometimes, you see NGC giving a general grade:

 

When I was regularly attending the NGC Luncheon at the FUN Show, Dena Skeffington was in charge of giving small gifts to the members in attendance. Sometimes, they were slabs of Brilliant Uncirculated, ungraded coins.

 

don't forget sample holders some have grades some just say as stated above.

 

Those are usually bulk submissions by dealers (it's often cheaper than having a grade on the slab).

 

Yes that is one of the special occasions (and can fall into the show slab or luncheon slab category as opposed to a general promotional slab).

 

One year, Dena was giving us a Washington Prez Dollar at the FUN Show. During the luncheon, I noticed that she still had a large box of them left over. One of my friends on the NGC forums was a Scout Leader..... @jgrinz .....was that you? So, I asked Dena if I could have a couple to send to him so he could raise money for the troop. She checked, and gave me the remainder of the box.......45 slabs! That's why I like the people at NGC.

 

Maybe they do this mostly for non-profit organizations so the latter can use them for promotions and fund-raising? (Perhaps it's coincidental, but all four such slabs I have are either for the ANA or the Smithsonian Institution.)


Also, I have a related question. I don't know what gave me the idea, but I thought that "GEM" is equivalent to MS65 and "BU" means at least MS60?

 

A lot of the slabs are for non-profit organizations, coin clubs, special events (like a museum exhibit). Some are made for dealers (I've even seen one that was for a wedding for a dealer).

And GEM does mean it's a minimum of an MS 65 while BU is at least MS 60.

 

directly from NGC...
https://www.ngccoin.com/coin-grading/grading-scale/adjectival-grades/

*UNCIRCULATED is often paired with the additional qualifiers of BRILLIANT, CHOICE, or GEM. NGC considers BRILLIANT UNCIRCULATED to be any coins that would grade from 60-70 on the Sheldon Grading Scale. CHOICE UNCIRCULATED is considered to be any coins that would grade from 63 to 70. GEM UNCIRCULATED (sometimes indicated as GEM UNC or GEM BU) is used for coins that would grade from 65 to 70.

 

Had to find this when I was buying this puppy which translates to MS60+

 

I understand "INVERTED" but what does Double Edge Lettering mean? Thanks.

 

just that doubled "edge" lettering in this case in opposite directions. The coin was run through the edge lettering machine twice...

 

Oh wow. Thank you. I knew about the "inverted" edge lettering but not about this one.

 

I guess that Smithsonian restrike is pretty special then.

I think I got a pretty good deal on it.

Z