This just in from the hamster wheel of my squirrel brain..... I wonder how many coins have been unkowingly re-graded by a TPG, thus incrementing then population number by one, because it was cracked out of its original holder, sold, then sent in for grading by the new owner. Heck, what does cracking out and re-submitting in hopes of a higher grade do to the pop numbers...
Millions. The census numbers are not considered accurate, not even close. Especially rare coins, where there are very few coins graded, the resubmissions have completely distorted the census numbers. Census numbers are best used for relative rarity. Some coins have hundreds graded and are obviously common. Some coins have a dozen or two graded and are scarcer.
I think I got an email from NGC saying they will buy back the labels if you crack your coins out so they can delete them.
Some coins have very few graded because it would just be a waste of money, so they will appear to be rare. There must be a cutoff point at which level the collectors decide that grading whatever they have is simply money down the drain. It would be even more misleading for non US coins, if such figures exist, since most examples of foreign stuff will not be slabbed.
Someone correct me if I'm wrong, but I believe the buy-back offer gives you a credit on future submissions. Chris
The population reports are more likely to be accurate the higher the grade due to the crack-out effect. I wouldn't trust them at all more than 3 or 4 grades from the top.
Here is the press release from NGC........ http://www.ngccoin.com/news/viewarticle.aspx?IDArticle=4438&label-buyback-program- Chris
