Sometimes NGC Just P.........Me Off!!!!!!!!!!!!

Good luck with that one!

 

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Agreed. The reason they did this was increased business and public relations. People did not like sending in their submission money, and getting a body bagged coin, so the details slab evolved. That way, the coin was at least authenticated, and the customer had something to show for their efforts. I don't always agree with Doug's condemnations of the TPG industry in terms of mass misgrading, or purposeful market grading to the degree he thinks it happens, but I do agree that coins are being slabbed that never should be---damaged ones should be body bagged the way they used to be.

 

I'm not sure what you mean by "body bagged" in this context. Is it a coin that's not in a slab at all? Or is it a coin that's in a slab but gets a "genuine" designation as PCGS used to do?

As someone who uses TPGs a lot it would upset me if I sent in a coin and it came back to me in a 2x2 plastic flip with an "ungradeable" sticker on it. For my $25, I should at least get authentication. The TPGs did the right thing by slabbing (i.e. authenticating) problem coins. This isn't "bad for the hobby" in my opinion since authentication is such a huge issue facing all collectors.

Whether they should have put details grades on them is another matter entirely.

 

Body bagged is a term from the old days when a TPG would just send the coin back in a flip with a sticker on it that said, "damaged, not gradable." PCGS and NGC still bodybag coins, but only in 2 circumstances that I know of. I had a PCGS bodybagged coin come back to me last year. It was a "altered date" 1942/1 Mercury Dime. For obvious reasons, they were not going to put it in a holder. 2. I sent off a draped bust quarter to NGC that they stated was genuine, but about 20% of the surface had been filled and tooled due to the coin once having a HUGE hole/cavity in it. (The repair job was masterfully done, I might add). I eventually got PCGS to slab it. They called it "Holed and plugged VF details", but NGC wouldn't holder it.

 

since i have been away and some of you have been asking about me including the ever forgetting GD the comparison is very similar and it scares me
I have retired from coin collecting. I spent most of my life collecting and studying coins, and I still study coins every single day.

As for slabbed coins, yes, I have bought thousands of them. And no, I never cracked any out. But over the course of my life I also bought thousands of raw coins, some of them rather expensive by most standards.

I was able to do this, without risk, because of three things. 1 - my knowledge of coins, and 2 - because of 1 very simple rule that I always followed. It's actually the same rule that everyone should follow but few do. That is to only buy coins from people who know coins and who you know and trust. If you do that, you'll never have to worry if the coin is slabbed or raw.
3. there is a capped grandpa on the forum when in doubt ask him sometimes you wont understand what he says but dont let that bother you no matter how irritated he gets keep asking till you finally understand what he is saying, its not our fault that English has changed since the dawn of time is it?

if you really want to stop worrying sell the first coin that you think is an expensive buy the knowledge you get along with the profit and loss will set you free from your worries one way or another.

 

i have a theory when you like coins too much the desire to own them disappears ( you realize you are a glorified security guard) and with that goes the desire to collect them.

on a happy note i have figured out how to read all your posts GD so happy days come again