New Grading System

I may be wrong on this, but the new grading scale introduced by NGC (same as comic books and the like) is not going over very well. I would say expectations for this are much lower than what NGC expected.

I have only seen Rick Tomaska's coin show on TV offer one or two coins using this system. AVC TV also shows very few coins graded using this new system, but a little more than Tomaska. I may be incorrect in stating AVC's selling price is a slight bit higher for the same coin using the new system compared to the Sheldon Scale. Don't see that many on ebay as well. I have no idea about any of the other TV sellers. Does NGC charge more to use this method of grading? I think the TV coin sellers is a good place to judge this because all, or close to all, new issues they sell have been graded.

I also don't think any of the other grading companies have "jumped onboard" to also add this system to their coin grading. Anyone here have thoughts on this? Is it too early to make any decisions about this new system?

Me, I'll stick to the Sheldon Scale.

 

Log in or Sign up to hide this ad.

Me too, except I ignore the numerical extensions. My collection is based upon eye appeal only. My assessments are AG through BU. I do use MS and PF when appropriate.

 

The old numismatic rules of evaluation by NGC, by NUMISMATISTS, has given ground to the corporate Black Rock type profit centers.

It worked for comics, so.....why not?

Maybe we can start with in-depth cerebral research concerning a numismatic subject, and not devoting neurons to the
effort needed researching when Superman first met Lois Lane (and, BTW... if you know the answer to that, thank you for supporting my point), to increase profits for the Collective.

 

First met in 1938. I have to say though if the popularity of grading new issues was not where it is today TPG services would look much different than it does today, if around at all for a few of these outfits.

 

The AI fact check establishes that this is an erroneous reply (I will admit I knew that his would be the answer from the under exercised neuron collector category.

I admit I know the answer, and that is not it.

1938 Is when Lois Lane and Superman first APPEARED in the public consciousness...not "met".

All the decades and comics and TV Shows and movies since, have never established when/how/where they actually met.

Yes, yes, I have fired off many neurons over the years navel contemplating the conundrum.

YW.

 

It seems opinions were mixed when this was first announced, at least based on my not very scientific evaluation: reading the YouTube comments on the video I watched announcing it. I'm very much in the "if it ain't broke, don't fix it" camp. Putting a new system out brings the problem of not being able to easily compare grades that have been in use for over 50 years. I don't see how it improves things, and I don't see trying to bring over the comic book collectors into coins is that necessary. The "bring more people into the hobby" argument I always thought was strange, because the hobby is not endangered; coin collecting is almost as old as coins themselves, and there's no risk of it going away anytime soon (and if less people are collecting, it just means less demand, so I can get my coins cheaper). I quickly decided that whatever else anyone else was doing, I would refuse to buy any coins graded this way, and would not submit any coins graded this way. Again, not a scientific survey, but last coin show I literally couldn't find a single seller selling coins graded on the 10-point system. Even on eBay it's hard to find any, and they'll sell anything. For the most part those established in the hobby seemed to have mostly rejected it, and good thing IMO.

As far as I know this is exclusive to NGC and even then it's only an option (you can still choose to have them use the old scale if you submit coins to them). Based on the lack of much prevalence in the market, it's safe to say the experiment has pretty much failed in terms of how "market acceptable" the new system is, but NGC hasn't officially abandoned it, yet. It's probably inevitable they will eventually though. If people aren't buying something, eventually you have to give up trying to sell it.

 

I’ll stick with the current scale. I’m too old to change.

 

Yeah, yeah, yeah, BUT (there is always a "But") where do you stand on the Superman/Lois Lane Meeting research category? category

 

I could just Google it and pretend like I already knew lol... but I'll instead be honest here and just say I don't care enough to bother to know. I've never been into comic books, even as a kid I've read maybe 3 of them. I'm not completely ignorant of pop culture but most of what I know about even the most popular comic book characters comes from seeing them in movies.

 

Yeah I agree, it hasn't picked up steam. The company that sells those Vault Boxes uses the new scale, but that's the only place I've seen it.

 

Charley, I'm going to hold "pat" with my 1938. I'll admit I'm using the internet to back me up, but if I look long enough and hard enough I could come up with something different.

 

I see the Loot Boxes, sorry, Vault Boxes as a desperate attempt to make the 10-point scale happen. I'm hoping the majority sees them the same way, whether or not they choose to gamble.

 

Okay, I confess that is exactly what I did.

 

I don’t support either the 10-point system for coins or the Vault Box scam.
…imo…Spark

 

I completely support you on the new grading system, and I think I also support you on the Vault Box thing. I'm not sure if the little I know about the Vault Box thing is correct. If it includes buying coins, as a group, sight unseen I definitely agree with you. I also think you are hoping your "box" is better than others.

 

Dave Bowers mentioned several times (probably in Joy's of Collecting) one of the reasons James Ruddy left the coin business was because it was becoming too mercenary. That was in1977. The ole boy would've barfed up his lunch if he'd looked in on coin collecting just 10 years later.

 

I am actually working on an NGCX collection of proof Jefferson Nickels from 1982 to present. Modern proofs bore the heck out of me, so finding them in NGCX holders ups the challenge factor significantly. Here is my best one!

 

The NGCX 10-point system has always seemed to me to be a solution in search of a problem. Yes, the Sheldon Scale is an awkward relic of a bygone day but it takes less than five minutes to understand the mechanics of it.

It also takes less than five minutes to understand the NGCX scale and how it directly corresponds to the Sheldon Scale.

I have read that NGC adopted the 10-point scale to appeal to younger collectors and the potential pool of new collectors who have cut their teeth on comic books, sports cards and other collectibles. Has it worked? I see no evidence of that but then I don't have access to any data that would say one way or the other.

 

Do you have any reason to think that an X 10 is harder to get than a Sheldon 70? Besides the small numbers of X-slabbed coins in general?

I can imagine that a collection of 10.0 coins is more challenging than a collection of PF70 coins, and unless the X-scale does take over, I imagine it'll stay that way. It's not a challenge that I find enticing, but I'm just a bottom-feeder anyhow.

 

I guess the key word is "understand" and I do understand. But, to spend only five minutes looking at them , then able to know their equals to each other I think would take me quite a long time.

I think the word relic to many people means it is out of date or obsolete, but the definition only means it is old and is stll around. I'm not sure what you mean by being awkward. I know I am taking the easy way out here, not really wanting to learn a new system. To me this is a fine example of, "if it ain't broke don't fix it".