Why do we pay more money for PCGS Slabbed over ANACS and NGC?

Unfortunately, that is not necessarily the case. I have seen many instances in which the IDENTICAL coin has been sold in both a PCGS holder, and, either before or afterwards, in an NGC holder. And far more times than not, the coin has sold for more (or considerably more) in the PCGS holder.

The price discrepancy was not due to market conditions or the selling venue. But rather, other factors, including the PCGS set registry, perceptions among bidders, sight unseen and sight seen bids, etc.

 

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I see. Thanks for the input. I am not looking for any get rich quick scheme, or anything. Just curious. I believe I am going to focus the next couple months on absorbing as much reference material that I can, and hold off on much buying until I feel more comfortable with grading. I particularly like Bust Quarters, Bust a Halves, and Peace Dollars. I'll do some googling, but if anyone knows of reference materials on the subjects I would appreciate it.

 

This is true and I "Liked" your comment, but it doesn't answer the OP's question. You're only casting an additional shadow on the problem.

 

All of these sereis have their own standard references. If you are newer to US coins, and want one great reference to "get you in the ballpark" of all series, I woudl recommend Walter Breen's "Complete Encyclopedia of US Coins". Printed in 1988, out of print, but can be found. Its the first place I start on any US or colonial coin. If I have advanced references, like Overton for CBH, or WB for SL Halves, I will use those of course, but I don't have all references for all series, and Breen does a great job of being a "generic specialize reference", if that makes sense.

Chris

 

So so true! It is also a way to make a few million dollars. Find a way to pacify and satisfy the lazy, lackadaisical and careless.

 

#1 - Buy the coin, not the slab
I've seen some real dogs in PCGS tombs (NGC/ANACS/ICG too!)
I'm partial to NGC and all things being equal, prefer coins slabbed by them.
I like old ANACS slabs too, especially for varieties.
If a I spot a nice coin at a VERY good price in an ICG slab, I will buy it and have it entombed by NGC if I plan on keeping it for my collection.
PCGS does seem to be the market favorite but that just means that good coins in NGC slabs will probably cost less.:smile

 

Doug, agreed on all counts, but don't let it go to your head.

 

Oh you know it will!

 

I just had an ironic twist in my day. I had previously emailed a couple of well known dealers with some basic questions on grading standards. One of them is apparently an acquaintance of Don E Willis. My message was forwarded on to Mr. Willis, and I received this email today. I have taken out any personal information… Just thought it was kind of neat.

Jason,
I suggest you attend the coin grading classes at the summer ANA sessions.
Miles normally attends and often instructs at these sessions. Look him up.
Meanwhile, enjoy your coins.
Don
Donald E. Willis, Jr.
President, Professional Coin Grading Service

 

A novice playing the high stakes crack out game has about as much chance of winning in the long term, as a novice playing in a high stakes poker game with professional poker players. The crack out game is a game of skill. As for a few months or a year or study, try that with other games of skill such as poker, or golf, or tennis. Start as an average novice, and spend a year studying and practicing, and then start playing for real money in any of those activities and the novice is almost sure to get cleaned out. I'm not saying it can't be done, but it requires a lot of natural talent, as well as superior access to coin deals.

 

LOL... I may be waaaaayyy over my head in the coin industry. I had to get a kick out of your comment and your references to poker though. As it stands, my college, my wife’s car, my TV. couch I'm on, much of my coins, and even the computer I am on are all paid for by playing high stakes poker. If you want to look up my stats just go to Sharkscope.com and lookup JohnnyCashout. I played 1/2 No I think twice and then moved on to 2/5. After 3 weeks I was playing 5-10, and then onto 10-20. Swimming with supposed sharks at a card table didn't hold a lick compared to riding in the back of a bread truck into downtown Fallujah. Well enough with sticking my chest out. I do realize that the coin world is different. It's more refined, more distinguished. It requires a much slower pace, more investigating. A keen eye, the right perception, extreme patience, knowledge on market trends, as well as years and years of intense research, and trial and error. Although I haven't experience all of this, I can see this. Every time you turn a page in unlocking a mystery there is another page! Especially in ancients. The history is amazing. I believe you misinterpreted my statement earlier. I never said I would master anything in a few months, I merely stated that I would focus on intense studying for the next 3 months rather than buying. To me the coin world is much more challenging than the Poker world. If I check raise my set on the flop and a guy draws out on me, that's partly on me, and partly on luck. On the other hand if I make a bad purchase in the coin world that is entirely up to me! No, bad luck about it. I'll get on with my rant since it is past midnight, but I guess what I'm saying is that I observed, and understand what you are saying. I spend so much time on CT, because I realize that the purchase is totally on me, and I must learn as much as possible.

 

May be it is just me but i don't get my coins slabbed, i guess i want to able to open the capsules and check them out once in a while...

 

Just remember that while poker is both skill and luck, the crackout game is mostly skill. Always repeat to yourself probably 100 dealers before me with cumulative 1000 times the experience has seen this coin and didn't believe the risk was worth it, or it would not grade higher. This game is truly a game for the experts in that narrow field dealing with that series.

Not trying to be a downer, just a realist. Chris Moneymaker made horrible plays but got his bracelet, in the coin industry I do not think that kind of blind luck is possible. Its more of a Lederer type of game.

WE are all wishing you best of luck here, but simply trying you to be patient, learn every iota you can the best way you can, and before you know it you can be in a position to play such a game. If you really want practice, go get a bag of circulate nickels and a BU bag. Sort them out by grade, then go over each grade with proven examples to judge by. Learn what mistakes you made, and learn to distinguish the grades quicker and quicker by sight. This is an excellent baseline of knowledge to have. I did this exercise over and over when I was 12 and can grade ever since then, (though I disagree with today's US grading as too lax, but that is a different story).

Chris

 

I appreciate it once again. Both of you. Just as in the bullion forum, there is no right or wrong. Just agreements and disagreements. I can see where you all are trying to help me, and didn't want someone new to coins making the same mistakes others have made. I must have looked like a complete idiot emailing big time dealers.. Asking them questions about jobs in the coin industry. HAHA! What a joke, I can't even grade a penny. I hope that email came from Mr. Willis's secretary. He probably wouldn't even let me shine his shoes. Anyhow, I'll try to take things with a grain of salt.