NGCX a new 10 point grading scale from NGC

NGC has got a new 10 point grading scale for coins that is a direct transformation of the Sheldon scale to a 10 point system.

Read about it here:

https://www.ngccoin.com/news/articl...last&utm_campaign=22_NGCX_GradingScale_111622

 

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Just got their email. I'm sure this will provide lots of discussion.

 

Interesting….. I still struggle to keep away from the Good thru BU scale myself….. I read the piece and wondered how on earth we could glean information with a ten digit scale but once I read in depth it is fractional from 1.1 thru 9.9….. OK, I can see some merit to it and perhaps it will open the coin collecting hobby up to folks that collect cards and comic books and such since they will be familiar with that scale……. This old dog doesn’t do new tricks well so I’ll just stay with my old G-BU scale that makes sense to my aging brain pan.

 

I wonder if PCGS will also come up with a 10 point grading system?

 

Really dumb idea that will go no where. Using a different scale always fails, all it does is create potential confusion.

Its an even dumber idea for a single company to offer two completely different grading systems. The 10 point scale used by PSA and others is actually a 100 point scale that uses decimals.

Asking your graders to flip back and forth between the 70 and 100 point scales is so incredibly dumb.

 

If it ain't broke, don't fix it.

 

If they would do it people would love it, but as it was NGC it’s just a dumb idea

 

A grading scale ending at 70 seems needlessly arbitrary, and if I were coming up with a scale from scratch, then I'd use a 10 or 100 point scale (if they use decimals then their 10 is actually 100).

However, we are not starting from scratch. Trying to rescale coin grades at this point seems a bit silly. Especially since the non-numeric grading terminology that we use also has 7 tiers: AG, G, F, VF, XF, AU, MS. Is NGC gonna invent 3 new categories to stick in there somewhere?

 

Well, it's for modern coins, so at least it won't be used on classic U.S. coins. And since I could care less about modern U.S. coins, it isn't a big deal.

But yeah, it's just another way to get more $.

 

So, will I send my already-certified-some-with-green-stickers coins in for a CAC slab or a NGCX slab? How about neither!

Cal

 

Seriously doubt it, they’ve already said in the past .they wouldn’t move to a 100 point system but that was before they became privately owned. With CAC getting into the game the last thing you want to do is make some radical change to the grading system, especially when that change is one that the market and collectors have overwhelmingly opposed for decades now

 

You forgot PO1 and FR2. Generally I think it's a good concept - why are there currently 10 MS grades and only 4 AU grades? There's a lot of coins out there clearly better than AU55 but not quite AU58, for example.

 

Me neither. I bet they're trotting this out as a hedge for when the CAC grading service starts competing for revenue.

 

Even if it is broke, try to come up with a "fix" that actually improves things.

 

Most likely this will get some novelty aspect for people that want to hold onto the slabs for a long time hoping they get a slab value while the idea quietly gets canceled behind the scenes as a failure. They arent going to take business from CAC with this attempt and obviously are worried about them and the amount of NGC CAC coins that will likely get sent to CAC, its hard to see how this is the path to combat that. Collectors and the market dont want a new grading system or for a company to be using two different systems

 

This changes the grading scale to one more in line with other collectibles markets, however, it doesn't fix the problems with the grading scale. I think they've actually made it more confusing to collectors from other markets, not less.

The problem is the whole AU58-MS62 mess where an increase in numerical grade does not necessarily indicate an increase in quality and value. With NGCX grading, the same situation to an unfamiliar collector will appear to them to be a very familiar 8.8-9.2 increase in grade. They will think they understand this perfectly and will incorrectly assume that this indicates an increase in quality and price when that's frequently not the case.

Admittedly, this is somewhat mitigated in that they are only applying it to moderns (for now). But as they are just changing the scale and not changing the grading steps, I don't see why they would keep this exclusively for moderns in the long run.

 

After listening to the NGC IG Live Q&A on the NGCX Subject, here are some key takeaways:

1. NGCX coins are not eligible to compete in the NGC Registry
2. The program only applies to modern coins from 1982 to present and is geared towards US Bullion and US Modern Commemoratives which started in 1982 with the Washington Commemorative Half Dollars
3. Only authorized dealers will be eligible to submit to NGCX, which leads people to believe this program is geared towards the TV sales programs.
4. World Coins are not eligible for NGCX
5. For regular collectors, nothing will change and we will still use the sheldon scale (70 point scale).

The NGC Rep charged with handling the Q&A seemed to know very little and couldn't answer most of the questions asked, including how they plan to handle population reports, and if the program will be expanded in the future.

 

Sound like this will be a winner then.

 

Let's simply start with as the article mentions a grade of 9.9 being equilivilant to MS69... Nope nope nope math just don't work that way in any system

Let's add that if they are going to use decimals it's a 100 point scale not 10 no matter what they call it... if there are 100 possible grades from .1 to 10 that's a 100 point decimal system.

While I think a 100 point decimal system would be simpler for new collectors to learn, it would mean all the previously graded coins using the old system would need to be properly regraded (and you know sure as all heck the TPGs ain't gonna do the change over for free..

All I see here is a TPG getting greedy wanting to change a system that already more then twice as many possible grades then are actually in use... When I start seeing some 54s 59s and 13s out there it might be time to consider a new system.

Lastly unless PCGS, ICG and ANACS all change to the same system, the only thing NGC is going to accomplish with this change is their own bankruptcy...

JMHO