From: http://www.pcgs.com/articles/article_view.chtml?artid=5359&universeid=313 PCGS Service Announcement - New "Genuine" Service - June 4, 2008 NEW "GENUINE" SERVICE Effective immediately, the Professional Coin Grading Service (PCGS) will begin authenticating and encapsulating "problem" coins (i.e. altered surface, cleaned, environmental damage, etc.). Holders and inserts for the Genuine service will be identical to the normal PCGS holder except that the insert will read "GENUINE" in place of the usual grade. Edited---sorry but copyright laws don't allow more than a few lines to be posted.
i believe this was already discussed its a great revenue stream for them and just shows how many people have fallen for their registry product
I think that the $100 price tag is an effort to keep low value coins out of "Genuine" holders. PCGS does not want cleaned generic Morgan and other inexpensive coins in these holders. Their goal is not to compete with ANACS. The idea is to be able to get five figure and higher rarities into PCGS plastic. For example, I recently handled a 1920-S $10 Indian that was a solid Unc coin, but had been lightly wiped on the obverse and would not grade. This coin would have been a perfect fit for one of these holders.
It's a small step in the right direction. And as a sidebar, I didn't think copyright laws applied to public press releases. It kind of defeats the purpose of public relations if nobody is permitted to spread the word.
I would think it falls under the unwritten Fair Use Clause, but I can also understand CT's stance, which is it's better to be safe than sorry. CT has received complaints from sources of copyrighted material, that were posted here in the past, and in order to eliminate that problem, they've adopted the stance they've taken. I can live with that but it doesn't mean I necessarily agree with it. Ribbit
Cloud, I wasn't sure about that either....and I tried to look it up so I would know for sure. I couldn't find anything out at the time and to be on the safe side I removed it down to enough where Fair-use would come into play. If I can find out differently about this then I would be more than happy to add the text back into the thread myself. Speedy
That's fine until the link is dead. Someone reading this thread 2 or 3 years from now might be very interested in reading that press release but they may be unable to because the link will probably be dead.
It tells me I'm going to send all my coins to either ANACS or NCS/NGC. :thumb: Imagine trying to get that $100.00 back on a coin if you ever try to sell it? :rolling: Ribbit
And that's exactly the reaction PCGS is hoping for. They want to keep out the riffraff (no offense). PCGS does not want to be known for slabbing just any problem coin (like ANACS) but they will accomodate those that need their rare - but problem - coins authenticated. Keep in mind the bulk of those paying PCGS $100 to authenticate (not grade) a coin will likely be needing the coin for their PCGS Registry Sets. I can see a guy spending $100 to have his scratched Gobrecht Dollar authenticated so he can complete his Silver Dollar Type Set Registry Set. What if you found an 1894-S Barber dime while metal detecting but it was scratched. Think it would be worth $100 to have PCGS authenticate it? (I do.)
For some reason, I don't see detector buffs having a PCGS Registry Set, so I see them spending less than half that price and having it ANACS/NCS authenticated. But that would be interesting question, just how many active detector buffs have a PCGS Registry Set and what percentage is that of all detector buffs? Taking a stab in the dark, I'd say there are less than 10 active detector buffs buffs with a PCGS Registry, so that would put it in a percentile range of 1/100th of 1 percent of all active detector buffs and less than 1 percent of PCGS's client base. But for anyone who has a PCGS Registry Set, it works for them. :thumb: It just doesn't work for the other 99.9 percent of the coin collecting world, so they are basically catering to the rich collectors, not the average/poor ones. :goof: What that does is drives us to the other TPG's faster than before, therefore, it is counterproductive and will result in losses and eventually a reduction in fees to try and counteract their stupidity. :rolling: Ribbit
Perhaps, but that '94-S dime may very well end up in a Registry Set after the MDer sells it - for BIG bucks with that PCGS authentication. Rolls Royce "caters" to "rich" car buyer. For the average car buyer there are plenty of "common" car-makers out there.
If I were to do that, I'd place a $100.00 buyer's premium on it, to cover the costs, since the buyers on Ebay don't seem to understand the value of TPG slabbed coins. I sold a ANACS MS-64 Jefferson for less than the grading fees because peeps who don't send coins in, don't have a clue what their value is after slabbing. Luckily, I got it for even less so I made out. Ribbit
Could it be that, heaven forbid, they are buying the coin, not the slab?!?! You are comparing apples to oranges here. We were talking about authenticated coins before you made a comparison to a TPG-graded coin. A common, low-priced coin may be worth less than the grading fees. Happens all the time. But a valuable coin may sell for an additional amount of much more than the $100 authentication fee because buyers feel comfortable the coin is genuine. The same thing happens with high-priced slabbed (graded) coins.
