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#1
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NGC vs PCGS grading
How come all the US Platinum Eagles on ebay sell at higher prices if they
are graded by PCGS than if they are graded by NGC? |
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#2
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"wolfee" wrote in message ... How come all the US Platinum Eagles on ebay sell at higher prices if they are graded by PCGS than if they are graded by NGC? Because the perception by the coin buying public is that PCGS are stricter graders than NGC, and so based on this perception, the reality is people pay more for the same coin in the same grade in a PCGS slab than in an NGC slab. There was a survey sent to the members of the PNG (Professional Numismatists Guild..) .. a year ago in which they were asked to rate the grading services on various qualities of service, grading ability, pricing, turnaround time, and a bunch of other factors, and you can read about it and see the results he http://pngdealers.com/public/surveyresults2002.cfm PCGS and NGC both scored equally in all eleven categories and were the only two services given a "Superior" rating. NGC actually scored higher in one category than PCGS, turnaround time. The results were published all over the place and much debate and screaming and yelling took place everywhere, but it didn't really change anything and the same coin in the same grade typically still sells for more in PCGS than in NGC slabs. Some time ago, the opposite was true and NGC slabs sold for more. Some of the old timers around here might remember when it changed to the way it's been ever since then when PCGS took over the top spot, and most will also tell you that it could change back the other way again, while others will tell you that it won't. Others will tell you that Collectors Universe, PCGS' parent company, is in deep financial doo doo and their stock is dropping like a lead balloon, and that if PCGS ever changed ownership, things could change, just like what happened when PCI changed ownership, their market acceptance went down the toilet. I'm not a big time professional coin dealer, although I have sold a couple dozen slabs on eBay in the past few years, including some that went into four figures, but if you want my opinion for whatever it's worth, paying ridiculously high premiums, often multiples of the price for a coin in a PCGS slab vs. an NGC slab is nuts. Especially on Modern coins that get the holiest of holies MS70 or PR70 grade. For example, a very common example, a 2001 Buffalo Dollar graded PR70 Ultra Cameo in an NGC slab is worth about $300.00 to $350.00 whether you're buying one or selling one. Graded PF70 DCAM in a PCGS slab, $2000.00 to $2500.00. NGC has slabbed more of them 70 than PCGS has so from that, people draw the conclusion that NGC is looser on grading and PCGS is stricter or tighter. Even though both companies have perfectly capable guys with bajillions of years of experience, and both of them give any given coin about half a minute of their time before picking the magic number. I'll cite you another example. There is a regular here who has offered a $100.00 reward for anyone who can find him a 1982 George Washington Unc. Half Dollar in ANACS MS69 because all his other Modern Commemoratives are in ANACS MS69 slabs and he wants the complete set to match. Well ANACS has never slabbed one of those above MS68. I verified with them. NGC and PCGS both have. Does that mean ANACS, which got a "second tier" rating on the PNG's survey is actually stricter than PCGS and NGC are? Or does it mean that fewer of those coins have been submitted to ANACS, or what does it mean. Everyone pretty much agrees that ANACS is a highly respectible service and many think that maybe it too should be top tier, but the reality in the marketplace, is that it isn't top tier. It gets even wackier. Sometimes dealers will buy a key date coin in a PCGS slab and, based on their experience, decide if they can just crack it out and resubmit it and get it re-slabbed one point higher they can get 2x or 5x or 10x the price for it. There are probably a lot of coins out there that have gone back to PCGS multiple times hoping to catch a different grader on a different day in a better mood or something and get it bumped up one point, and for that, they're willing to spend a lot of money, over and over again in the hopes of getting that extra point. I was shown a slab that I was told had been through PCGS something like ten times in the hopes of getting it bumped up from MS64 to MS65 but every time it came back MS64. So the reality of the situation where it stands now is that PCGS is #1 and NGC is #2 and sometimes the same coin in the same grade in either slab will sell for almost exactly the same money, where in other cases it will sell for wildly different amounts of money. There are regulars who hang out in this newsfroup and everyone knows who they are who can pipe in and give you their learned opinions as to why this is. And why the results of the PNG's Survey didn't change anything. Harv -- I started out with nothing and still have most of it left. |
#3
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Very well said, Harv!
Barry -- Note - Remove the X from my e-mail address for direct replies |
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