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NGC and their unreliability
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<p>[QUOTE="sjnebay, post: 57217, member: 1665"]They are unreliable and here is why. I spoke with one of their graders yesterday. After Mark Salzberg, their president, has an opportunity to reply to the letter that I sent to him I will make the entire fiasco, and his reply, public to all of you so that you can make your own judgments. I will also include photographs of the coins, if I can get them.</p><p><br /></p><p>Anyway... Unreliability.</p><p><br /></p><p>Their grader told me that they each grade more than 1000 coins per day. If they work 8 hour shifts that gives them about 28.8 seconds to spend on each coin. If they do nothing but look at the coin; that is no writing or anything else, they spend 14.4 seconds on each side of the coin. I don't know about any of you, but even with my 30 years of numismatic experience, it takes me longer than 14.4 seconds to decide whether a coin is MS64 or MS65. Just think. In some cases they are spending 14.4 seconds in deciding what is sometimes the difference in several hundred dollars of a coin's value. That is unconsionable. In my opinion, NGC slabs have take on the same value as 2x2s, AirTites, or any other over the counter holder, based on this fact.</p><p><br /></p><p>I am anxious to hear what some of you think about this.</p><p><br /></p><p>Steve[/QUOTE]</p><p><br /></p>
[QUOTE="sjnebay, post: 57217, member: 1665"]They are unreliable and here is why. I spoke with one of their graders yesterday. After Mark Salzberg, their president, has an opportunity to reply to the letter that I sent to him I will make the entire fiasco, and his reply, public to all of you so that you can make your own judgments. I will also include photographs of the coins, if I can get them. Anyway... Unreliability. Their grader told me that they each grade more than 1000 coins per day. If they work 8 hour shifts that gives them about 28.8 seconds to spend on each coin. If they do nothing but look at the coin; that is no writing or anything else, they spend 14.4 seconds on each side of the coin. I don't know about any of you, but even with my 30 years of numismatic experience, it takes me longer than 14.4 seconds to decide whether a coin is MS64 or MS65. Just think. In some cases they are spending 14.4 seconds in deciding what is sometimes the difference in several hundred dollars of a coin's value. That is unconsionable. In my opinion, NGC slabs have take on the same value as 2x2s, AirTites, or any other over the counter holder, based on this fact. I am anxious to hear what some of you think about this. Steve[/QUOTE]
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