PCGS will start allowing PL for all US coin type

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

  1. ddddd

    ddddd Member

    Better late than never :p
    It does make sense and there was demand for it, so it's nice to see. I agree that it would be nice to see the standards used.
     
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  3. ddddd

    ddddd Member

    It likely will. And we'll also see an increased amount of doubt from people about NGC PL coins (some people will start assuming if it's NGC PL, then it likely didn't cross regardless if it ever was sent in).
     
  4. EyeAppealingCoins

    EyeAppealingCoins Well-Known Member

    So the moral to the story is cross within 6 months or dump quickly before the market crumbles... Good idea!
     
  5. physics-fan3.14

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

    If it drove down the price of NGC PL coins, that would be a fantastic result for me.

    However, my fear is that with this publicity, all PL coins will start to get even hotter than they are. My fear is that all PL coin prices will start to go up - a rising tide raises all boats.

    The benefit, however, is that PL coins will now be more accessible.
     
  6. EyeAppealingCoins

    EyeAppealingCoins Well-Known Member

    But there is also a chance it back fires and the populations will increase. For instance, there are MANY PL seated coins in undesignated PCGS holders. As soon as those are designated, when added to the NGC population, I think it will reveal that they are more common than many assume and drive prices downwards. Ditto for Mercury Dimes, many capped bust coins, etc.
     
  7. physics-fan3.14

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

    I still don't think they are terribly common - and I'd wager there are less of them undesignated in PCGS holders than you might think. Collectors of PL coins and specialists in series have long recognized that the NGC designation carries a lot of value. The biggest problem with populations now is going to be from crossovers. I guarantee that populations will rise. However, I'm saying that the increased popularity and availability due to them being advertised by PCGS might outweigh that.

    If 20 people want something and there are 10 of them, it will have a certain value. If 100 people want something and there are 20 of them, it will have a higher value.
     
  8. ddddd

    ddddd Member

    There certainly can be benefits, including potentially better prices for buyers.

    The way I see this playing out is higher prices initially followed by a sharp correction. With PCGS offering the designation, there is a chance more people will be interested in collecting PL coins. That could in turn push prices up for NGC PL coins as people look for crossover candidates. In the long run though, I see a good deal of NGC coins crossing over and what is left will not be as strong as before. At that point prices will start coming down on NGC PL coins and even the nice ones that still remain in NGC holders will be looked down upon (you'll hear, "why didn't that cross?").
     
    EyeAppealingCoins likes this.
  9. Ike Skywalker

    Ike Skywalker Well-Known Member

    This. I'm glad PCGS is going ahead with this. Maybe I can piggyback that 77-D Ike with someone. Remember that one, @physics-fan3.14? My gut tells me they won't give it, but I still can't help but try. It's just one coin, and I'm willing to gamble on it once.

    IMG_0480.JPG
     
    Last edited: Jun 23, 2019
  10. EyeAppealingCoins

    EyeAppealingCoins Well-Known Member

    What does the reverse look like?
     
  11. Ike Skywalker

    Ike Skywalker Well-Known Member

    Oops. I thought I posted it. The twitter and FB logos get distorted somewhat since they reflect on the eagle. When I originally posted this one, some thought it would have a chance and others didn't. It's VERY shiny and crisp.

    IMG_0481.JPG
     
  12. TypeCoin971793

    TypeCoin971793 Just a random nobody...

    It won’t get the PL designation. There isn’t >2” of clear reflection
     
    Ike Skywalker likes this.
  13. TheFinn

    TheFinn Well-Known Member

    Good way to drum up some business when things are slow.
     
  14. calcol

    calcol Supporter! Supporter

    PCGS announced in Rare Coin Market Report that PL coins will not receive a bonus in the registry. This has been the long-standing policy for Morgans, and it will apply to new types. However, they will consider having sets that are PL only.

    Cal
     
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