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PR: PCGS Announces "Plus-Minus" and "Plus-Plus" Grading



 
 
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  #1  
Old April 1st 13, 09:26 AM posted to rec.collecting.coins
Ken Barr
external usenet poster
 
Posts: 476
Default 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
Ads
  #2  
Old April 1st 13, 10:20 AM posted to rec.collecting.coins
Dave Farmer[_2_]
external usenet poster
 
Posts: 8
Default PR: PCGS Announces "Plus-Minus" and "Plus-Plus" Grading


On Mon, 01 Apr 2013 01:26:23 -0700, Ken Barr wrote:

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.




EXCELLENT!
  #3  
Old April 1st 13, 10:29 AM posted to rec.collecting.coins
oly
external usenet poster
 
Posts: 3,111
Default PR: PCGS Announces "Plus-Minus" and "Plus-Plus" Grading

On Apr 1, 3:26*am, Ken Barr wrote:
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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(especially Dr. Copper). Numismanexium should be taken only as
directed. Always read the label of Numismanexium raidly and
haphazardly before usage. Always take more than the recommended
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oly
  #4  
Old April 1st 13, 03:42 PM posted to rec.collecting.coins
Jud
external usenet poster
 
Posts: 1,215
Default PR: PCGS Announces "Plus-Minus" and "Plus-Plus" Grading

I look forward to your post at this time of year Ken. Always interesting, and amusing.
  #5  
Old April 1st 13, 06:35 PM posted to rec.collecting.coins
[email protected]
external usenet poster
 
Posts: 8
Default PR: PCGS Announces "Plus-Minus" and "Plus-Plus" Grading

What about the first missing planchet error?
If upon re-submission it was determined to
be more missing than before would that be
minus minus or plus plus. Or something else
like The Big One For Real?
  #6  
Old April 1st 13, 09:51 PM posted to rec.collecting.coins
oly
external usenet poster
 
Posts: 3,111
Default PR: PCGS Announces "Plus-Minus" and "Plus-Plus" Grading

On Apr 1, 9:42*am, Jud wrote:
I look forward to your post at this time of year Ken. Always interesting, and amusing.


Oh yeah, it didn't occur to me what day it is until just now (late
afternoon). My bad. Ken did an excellent job and it was too early in
the morning to realize what he was doing other than satire.

Best line was "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".

That line I caught the first time I read it!!!

oly
  #7  
Old April 1st 13, 10:02 PM posted to rec.collecting.coins
Ken Barr
external usenet poster
 
Posts: 476
Default PR: PCGS Announces "Plus-Minus" and "Plus-Plus" Grading

In article ,
wrote:

What about the first missing planchet error?
If upon re-submission it was determined to
be more missing than before would that be
minus minus or plus plus. Or something else
like The Big One For Real?


Uh oh, someone with a long memory ... I suspect that you are referring
to my April 1, 2007 r.c.c. announcement (which I edited for the 2013
announcement):



PCGS Authenticates "Missing Planchet" Washington Doller

(April 1, 2007) (API) (Newport Beach, Oklahoma)
The Perfessional Coin Gradin' Service (PCGS) has recently
authenticated and enslabulated the first-known "missing planchet"
2007-D George Washington Presidential Doller.

E. Ron Guff, PCGS President and Chief Toady, acknowledged
the company's excitement at being part of numismatic history.
"Mr. Floyd R. Turbo, of Greasy Goose, North Dakota, submitted
a U. S. Mint-wrapped roll of these coins for authentication and
grading recently", Guff explained. "Imagine our surprise when
we only discovered only twenty-four coins in the twenty-five coin
roll. Obviously, the twenty-fifth coin in this roll had been struck
on a 'missing planchet'. All of our graders and finalizers crowded
around the tray the roll was spread out on, pushing the coins
around to make sure that it wasn't 'hiding' under another coin.
One of the younger graders even got down on his hands and knees
and looked under the grader's workstation to make sure that it
hadn't simply been inadvertently dropped on the floor."

"After a few minutes", Guff continued, "we reached the unanimous
conclusion that we had finally discovered the long-missing King
Of Error Coins, the 'missing planchet' error. We immediately
created a special slab insert documenting this fact, gently
'picked up' the missing planchet from where we thought it would
have been in the tray, and sent it to the slabbing room. It was
formally enslabulated as PCGS coin number 123456789, a
'2007-D George Washington Dollar, Missing Planchet Error, MS-65'.
Unfortunately, it is not known whether this coin was not struck on
a lettered edge planchet, or not struck on a plain edge planchet,
so the potential for a Major Double Error remains hypothetical".

When asked how PCGS could assign a grade to a missing planchet
error, Guff explained that it was via the scientific method. The
other twenty-four coins in the submitted roll all graded between
MS-63 and MS-67, he stated, with the average grade being MS-65.37.
"We rounded down, to MS-65, in order to be conservative and avoid
the appearance of giving major rarities an extra point or ten ...",
Guff clarified.

When asked about other major errors that PCGS had enslabulated
in the past, Guff thought for a while and then enumerated his
favorites. "There was a 2000-P Sacagawea doller submitted that
had a very unusual toning. We subjected the coin to a battery of
spectrological and metallurgical tests, and determined that it had
received a special wash with Palmolive Dish Washing Liquid in the
Mint prior to striking. We slabbed this as the 'Madge The Manicurist'
variety. We also received a 1936 Bridgeport commemorative half
doller struck from a die that had been re-engraved by a mint
engraver to show P. T. Barnum with a mustache and a cigar in his
mouth. This was designated as the 'Groucho Marx' variety. There
was also a 1978-D Eisenhower doller struck on an Oreo cookie ---
we had quite a time trying to get that baby into a slab! By far,
however, my favorite is the 1972 Cook Island doller, which features
a Polynesian god on the reverse, which had significant die polishing.
We identified this as the 'missing testicles' variety", Guff said
with a smile.

"We look forward to authenticating and enslabulating additional
rare error coins in the future", Guff expounded, "and are eagerly
awaiting the submission of the next great King Of Error Coins, the
coin struck on an antimatter planchet. We've heard rumors of its
existance, but have never managed to get our hands on one for more
than a few nanoseconds, and even then we had to spend months
cleaning up and rebuilding the cubicle. Ah, well, maybe next year!"

##

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
  #8  
Old April 1st 13, 11:02 PM posted to rec.collecting.coins
[email protected]
external usenet poster
 
Posts: 8
Default PR: PCGS Announces "Plus-Minus" and "Plus-Plus" Grading


It was easy to remember that one. I had a stomach acke for a week from laughing.
Thanks for reposting it.
Longnine009
 




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