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PR: PCGS Announces "Plus-Minus" and "Plus-Plus" Grading
PCGS Announces "Plus-Minus" and "Plus-Plus" Grading
(April 1, 2013) (API) (Newport Beach, Oklahoma) The Perfessional Coin Gradin' Service (PCGS) is pleased to announce that they are now providing "Plus-Minus" and "Plus-Plus" grading options for their certified coin products. E. Ron Guff, PCGS President, acknowledged that the "Plus" grading option introduced last year greatly exceeded their expectations, with tens of thousands of coins being resubmitted by the owners in the hopes of increasing their nominal grades from, for example, MS66 to MS66+. "We've reaped millions of dollars from these resubmissions", Guff admitted, "and probably increased the market value of these coins by hundreds of thousands of dollars". He continued, "However, as we all recognize, there are some coins that are quite a bit better than MS66, but not quite as nice as MS66+. So, for these coins, we've introduced the MS66+- grade. Similarly, for coins much nicer than MS66+, but not quite as nice as MS67, we'll now identify them as being MS66++ if warranted." "We spent considerable time developing an upgrade pricing policy that suits everyone's needs", added PCGS Chairman David Hull, "especially our own. If you submit a coin for +- grading, the fee will be $20 plus the square root of Greysheet 'bid' for the underlying grade, so an MS66 coin with a 'bid' of $2500 will cost $20 plus the square root of $2500 ($50), or $70 total, in order to be considered for the Plus-Minus upgrade. Similarly, if you submit a coin for ++ grading, the fee will be $20 plus the square root of Greysheet 'bid' for the next higher grade, so an MS67+ coin with a 'bid' of $3600 in MS68 will cost $20 plus the square root of $3600 ($60), or $80 total, in order to be considered for the Plus-Plus upgrade." "We've listened to our customers", Guff continued, "and are supremely confident that they are going to be willing to spend this small additional sum in order to consistently maximize the grades of their coins. We'll even consider Plus-Minus-Minus, Plus-Minus-Plus, Plus-Plus-Minus and Plus-Plus-Plus grading in the future if we think we can get away with it. And future plans include introducing our own in-house FOURTH-PARTY certification service called PCGSAC, which will use red stickers, white stickers and blue stickers to segregate the slabs into 'run of the mill', 'above average' and 'stupendous' categories." "We've already received an offer of $100,000 for the first MS66+++ coin with a blue PCGSAC sticker from an anonymous slab collector. He doesn't care what kind of coin is in the holder as long as the slab meets his strict criteria.", Hull concluded. "We're excited about the future of this hobby!" ## The Perfessional Coin Gradin' Service (PCGS) is a subsidiary of Coinsandstuff Universal (CU), a publicly-traded company listed on the Mars Stock Exchange. Forward looking statements are pretty much just figments of our imagination, and should not be believed any more than the Easter Bunny or phrases like "consistent grading". Your Mileage May Vary. Contents may have settled during shipment. Void where prohibited, and in Wisconsin because we hate cheese. -- Ken Barr Numismatics * * * *email: P. O. Box 32541 * * * * * * website: *http://www.kenbarr.com San Jose, CA *95152 * * Coins, currency, exonumia, souvenir cards, etc. 408-272-3247 * ** NEXT SHOW: Livermore Valley CC March 10 |
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