NGC Details Grade

I guess it was just a matter of time. The PCGS Genuine status finally sees it's proportional response from NGC. See link below.

http://www.ngccoin.com/services/details.aspx

 

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Thanks for the link Lehigh

 

While I think this good, I also see a trainwreck on ebay.

Not many of us " in the know " need details grading....I am afraid of the exploitation of the system on the bay to steal $$$ from rookies.

Much the same as the genune PCGS holder did.

Those is the loop did not fall prey, but a whole gang of Ebayers bought and sold their life away......with zero experience. Gone. Done. Stupid money.

 

Don't worry about it Jack, those type of people will always find a way to squander their money. If not on coins, then somewhere else. Their stupidity knows no boundaries. I liken it to a poker game. Without the fish, the sharks would eat each other.

My biggest fear is that they will follow suit with PCGS and "market acceptable toning" will turn into a purple labeled AT details graded coin. That alone could cause the collapse of the rainbow toned coin market, which remains strong years after most thought the "fad" would end.

 

Actually, this is a bit different from the PCGS Genuine slab in that NGC will now give a "deails" grade (similar to the way ANACS does), and PCGS does not.

 

Not many of us " in the know " need details grading....I am afraid of the exploitation of the system on the bay to steal $$$ from rookies.

Hey I like to be exploited and lose money. Suit yourself.

 

So is this just replacing the NCS slabs or is this in addition to NCS?

 

Mike, with all due respect proportional does not mean identical.

 

Good point! :high5:

I should read more carefully.

Regardless, there are some key differences between the services and I just wanted those reading this to note them.

Enjoy what's left of the evening & thanks for the correction....Mike

 

Not that you own any problem coins, but which one do you like better, the GENUINE grade by PCGS or the details grade by NGC. I like that the NGC label is a different color.

 

Myself personally, I really would see little difference between the two services.

That said, the NGC way of providing a details grade and identifying the problems by name, in my opinion, is the best way to handle these coins. I also like the distinctive look of the new NGC slabs, and that helps differentiate them further in the eyes of the consumer. However, I thought they could have simply added the details grade to the NCS slabs and be done with it.

In comparison, PCGS kind of watered down their name by doing it with essentially a look-alike slab and the word "Genuine". Further adding to the confusion is their use of a two-digit code rather than naming the problem directly.

Each has its advantages, and I can see, frankly, how both could be used to fool novices, but suppose that's possible with virtually any solution.

So overall I like the way NGC did it, but in reality I view the PCGS coins in the same light.

All of the above IMO...Mike

p.s. I do own more than a few problem coins. Just hopefully not too many problem coins in slabs.

 

Hey guys, could someone please explain what this thread is about? What is "PCGS Genuine status" and "NGC details grade" and how exactly are newbies like me (us) getting ripped-off?
I did go to the link, but it still not completely clear to me.
As always, thank you for your time and the education!

 

cjh:
"What is "PCGS Genuine status" and "NGC details grade" and how exactly are newbies like me (us) getting ripped-off?"

PCGS Genuine status: PCGS (the third party grading service) will now slab coins that have problems, eg cleaned, damaged, or not normally gradable. They state that the coin is genuine, only.
NGC has the addition of the fact the it (the coin) is genuine, and what the problem is, but then adds the what the grade would be if there were no problems (AU details).

As far as ripping folks off, I don't see it, any buyer can read the label, and if they do not, so be it.

 

So both PCGS and NGC have one slab for problem coins and one for non-problem coins? That's good to know. Perhaps that's what the guys were talking about. If you did not know to look for it, you may make a very bad mistake. Is it easy to tell the difference?