PCGS will start allowing PL for all US coin type

Discussion in 'US Coins Forum' started by messydesk, Jun 20, 2019.

  1. messydesk

    messydesk Well-Known Member

    Last edited: Jun 20, 2019
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    GDJMSP Numismatist Moderator

    Whoops, there goes another rubber tree plant - errrr ... re-submission

    Hmmm - just doesn't have the same ring to it somehow :)
  4. calcol

    calcol Supporter! Supporter

    Wonder if non-Morgan coins will get bonus points in the registry if they are PL. Morgans don't. I've always found this strange because copper coins get bonus points for RB and RD designations.

    Paul M. likes this.
  5. Endeavor

    Endeavor Well-Known Member

    I think it's smart of PCGS to do this business-wise. Probably something that should have been available since the beginning of PL designating though. A coin is deemed PL or not regardless of the type.

    Obviously resubmissions will increase. I can see many with a "+" getting resubmitted. I wonder what it will do the market value of coins without PL or +. I also wonder if PCGS will charge to have PL. Have they announced that yet? Perhaps that's what they are waiting to see reaction and announce on July 1st. Either way they will most probably get a bump in quantity of submissions.
    Last edited: Jun 20, 2019
    mikenoodle likes this.
  6. messydesk

    messydesk Well-Known Member

    Just speculating here, but since there isn't an additional cost for a PL designation on Morgans (outside of grade-based pricing in bulk submissions), I would expect that to be the case for all series. Also, the "+" is PL-agnostic, so the resubmissions or crossovers should come from all grades.
    Paul M. likes this.
  7. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    So they are less bad now at designating coins that are obviously PL. Oh and people get to pay for resubmitting coins that should have always had the PL designation. I'm sure that has nothing to do with this decision though.
  8. Garlicus

    Garlicus Debt is dumb, cash is king.

  9. messydesk

    messydesk Well-Known Member

    I imagine so, but other than very modern stuff (past 20 years) they're sufficiently few and far between that people aren't going to be putting together sets of, for example, Barber quarters in PL. The PL bonus probably will come into play on Lincoln/Shield cents.

    What remains to be seen is what the threshold of reflectivity is for PL for Barber and earlier types as compared with later types.
  10. baseball21

    baseball21 Well-Known Member

    It's nice to see Bret and the new group listening to feedback and making changes that people have been asking for for years. Also a tip of the hat to @physics-fan3.14 for taking the time to make the thread asking them to consider it, whether or not it made a major difference I do not know but it certainly didn't hurt and gave the chance for a lot of people to express their support for the idea.

    It also just dawned on me that July 1st is when the new Quarterly Special will be announced, I would guess that one of them will have something to do with this
    Kasia likes this.
  11. TypeCoin971793

    TypeCoin971793 Just a random nobody who doesn’t know anything...

    The question is: why didn’t they do this in the first place? It was common knowledge before the TPGs that non-Morgans could be PL.
    Jaelus likes this.
  12. UncleScroge

    UncleScroge Active Member

    Just sounds like another way for them to make money to me. If everybody resubmits their really nice coins, that are PL, just think how much more money they'll make. What a gimmick.
    wxcoin and furham like this.
  13. Razz

    Razz Critical Thinker

    Yes July 1st roll out is VERY telling. Beginning of the 3rd quarter and corporations need to be able to track the volume and sales by month and quarter for those bonuses!
  14. messydesk

    messydesk Well-Known Member

    They didn't use the cameo designation on proofs until 1993, even though it was common knowledge there were such things. One reason to not do it is a combination of lack of demand and not having clear guidance as to what it means. Of course, adding + to grades implies there was a perceived demand for it and they knew what a plus-grade meant.
    TypeCoin971793 likes this.
  15. Dave Waterstraat

    Dave Waterstraat dave700x -1883 O nut

    I wonder what the criteria for the PL designation for other series/ denominations will be?
  16. wxcoin

    wxcoin Getting no respect for 64 years

    Another gimmick for business reasons. Once that runs it's course maybe you'll see an UL designation for Ugly Like.

    If I bid on a nice coin that looks PL but isn't designated that way it won't change the way I value the coin if it later has a PL designation.
  17. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes? Supporter

    This will be key, and I hope they publish it.

    I'm very happy that they are starting to do this - I know that I'm not the only one asking for it! I'd like to think my thread helped convince them, but I have a feeling they've been considering this for a while.

    I know the PCGS registry works differently, but PL's definitely get a bonus in the NGC registry. I would think it should be similar. And I'm sure they won't have any PL only sets - that is virtually impossible for nearly all series. They might have selected PL-only type sets though - that is possible for several types.
  18. Dillan

    Dillan The sky is the limit ! Supporter

    The value of PL coins compared to MS coins always seem to quite a bit lower, I am not sure this is such a great idea. I know other grading companies use this designation already. Dillan
  19. EyeAppealingCoins

    EyeAppealingCoins Well-Known Member

    It is just the opposite. The PL coins for U.S. regular issues usually fetch premiums and sometimes large premiums over their generic cousins.
    Last edited: Jun 21, 2019
    Ike Skywalker and TypeCoin971793 like this.
  20. EyeAppealingCoins

    EyeAppealingCoins Well-Known Member

    Now that PCGS is an option, I hope it doesn't drive down the price of NGC PL coins that do not cross.
  21. EyeAppealingCoins

    EyeAppealingCoins Well-Known Member

    I hope you're right.
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