Revised GENUINE service
DonWillis
Posts: 961 ✭✭✭
PCGS announced a revised Genuine service last Friday. The revisions in the Genuine service will begin with submissions received after Dec. 1st. Since I was the main proponent of these revisions let me offer some background and explain how things will work going forward.
For many years as a collector then as a dealer, I listened to collectors complain that they were disappointed to pay grading fees only to receive their coin back in a plastic flip (what we all lovingly refer to as a ‘body bag’). On more than one occasion I heard “PCGS could have at least put my coin in a holder’. So the genesis of the changes we are making to the Genuine process is exactly that – a response to the market. We realize that many collections contain coins that are impaired in some way, but that the collector would very much like the coin to be authenticated and housed in a PCGS holder. We are responding in a way that satisfies that need and I believe will greatly improve our service.
To begin with, participation in the revised Genuine service is optional, although all submissions will default to the new Genuine process unless otherwise specified. A new submission form, available Jan. 1st, will provide the submitter the ability to opt out of the Genuine process. This will apply to the entire submission (there can be no mixing). Coins that are determined to be impaired will be returned in a body bag. For submissions sent in after Dec. 1 on the old form simply write on the form ‘do not holder Genuine coins’.
The revised Genuine service will apply to all types of submissions as well as service levels. Coins that have been holed and plugged, counterfeited or have active PVC cannot be holdered under the Genuine service. Effective Dec. 1 the current Genuine service will be discontinued.
When specifying a minimum grade for crossovers you may now write the word ‘genuine’ in the provided space. This does not affect the ‘any’ designation which will still mean any grade, i.e., 1 – 70. So to be clear your options under the minimum grade column will be to leave it blank meaning the coin must cross at the existing grade or higher, any number 1 – 70, ‘any’, or ‘genuine’ (see section 4 on the reverse of the submission form).
Raw coin submissions will be either graded 1-70 or ‘Genuine’ unless you have selected not to accept Genuine holders (selection applies to the entire submission).
PCGS is modifying the coin inserts for Genuine coins as follows: on the obverse the words ‘PCGS Genuine’ will be printed. The format of the numbers printed on the obverse will remain the same. From the left - the coin number followed by a period, the ‘no grade code’ assigned (such as 92 for cleaned), a slash and a certification number. A list of no grade codes is provided below and is available on PCGS’ website www.pcgs.com/grades.chtml
No Grade Description
91 Artificial Color
92 Cleaning
93 Planchet Flaw
94 Altered Surfaces
95 Scratch / Rim Dent
97 Environmental Damage
98 Damage
The reverse of the insert will be modified on Genuine coins to print “GENUINE NOT GRADABLE”.
We will not net-grade coins and will not print any other grading information. The no grade code to the right of the coin number is what should be used to determine the problem that PCGS has identified. Other than what has been mentioned the labels will remain the same, i.e., same color, design, etc.
Genuine coins will be eligible for variety attribution. This should be great news for collectors of many series such as CBH or early dollars where many coins, especially the rarer varieties, have been cleaned or impaired in some way.
Genuine coins will continue to be eligible for Registry sets. Coins in genuine holders will have a set value of one (1). Genuine coins are not eligible for ‘low ball’ sets.
We at PCGS hope that the revised Genuine process will help many collectors achieve their goal of completing their sets and having their coins authenticated and encapsulated by the most respected grading service in the world.
For many years as a collector then as a dealer, I listened to collectors complain that they were disappointed to pay grading fees only to receive their coin back in a plastic flip (what we all lovingly refer to as a ‘body bag’). On more than one occasion I heard “PCGS could have at least put my coin in a holder’. So the genesis of the changes we are making to the Genuine process is exactly that – a response to the market. We realize that many collections contain coins that are impaired in some way, but that the collector would very much like the coin to be authenticated and housed in a PCGS holder. We are responding in a way that satisfies that need and I believe will greatly improve our service.
To begin with, participation in the revised Genuine service is optional, although all submissions will default to the new Genuine process unless otherwise specified. A new submission form, available Jan. 1st, will provide the submitter the ability to opt out of the Genuine process. This will apply to the entire submission (there can be no mixing). Coins that are determined to be impaired will be returned in a body bag. For submissions sent in after Dec. 1 on the old form simply write on the form ‘do not holder Genuine coins’.
The revised Genuine service will apply to all types of submissions as well as service levels. Coins that have been holed and plugged, counterfeited or have active PVC cannot be holdered under the Genuine service. Effective Dec. 1 the current Genuine service will be discontinued.
When specifying a minimum grade for crossovers you may now write the word ‘genuine’ in the provided space. This does not affect the ‘any’ designation which will still mean any grade, i.e., 1 – 70. So to be clear your options under the minimum grade column will be to leave it blank meaning the coin must cross at the existing grade or higher, any number 1 – 70, ‘any’, or ‘genuine’ (see section 4 on the reverse of the submission form).
Raw coin submissions will be either graded 1-70 or ‘Genuine’ unless you have selected not to accept Genuine holders (selection applies to the entire submission).
PCGS is modifying the coin inserts for Genuine coins as follows: on the obverse the words ‘PCGS Genuine’ will be printed. The format of the numbers printed on the obverse will remain the same. From the left - the coin number followed by a period, the ‘no grade code’ assigned (such as 92 for cleaned), a slash and a certification number. A list of no grade codes is provided below and is available on PCGS’ website www.pcgs.com/grades.chtml
No Grade Description
91 Artificial Color
92 Cleaning
93 Planchet Flaw
94 Altered Surfaces
95 Scratch / Rim Dent
97 Environmental Damage
98 Damage
The reverse of the insert will be modified on Genuine coins to print “GENUINE NOT GRADABLE”.
We will not net-grade coins and will not print any other grading information. The no grade code to the right of the coin number is what should be used to determine the problem that PCGS has identified. Other than what has been mentioned the labels will remain the same, i.e., same color, design, etc.
Genuine coins will be eligible for variety attribution. This should be great news for collectors of many series such as CBH or early dollars where many coins, especially the rarer varieties, have been cleaned or impaired in some way.
Genuine coins will continue to be eligible for Registry sets. Coins in genuine holders will have a set value of one (1). Genuine coins are not eligible for ‘low ball’ sets.
We at PCGS hope that the revised Genuine process will help many collectors achieve their goal of completing their sets and having their coins authenticated and encapsulated by the most respected grading service in the world.
0
Comments
merse
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
Logical and sound.
Will you be in Baltimore for the show?
i.e. both cleaned, altered surfaces and environmental damage?
Personally I think this is a great addition to the services. I like the idea of being able to organize all of my varieties in the same slabs.
<< <i>Coins that have been holed and plugged ... cannot be holdered under the Genuine service. >>
This surprises me a little. Is this because there is a part of the coin that is not original coin? Would a holed and not plugged coin holder as genuine but damaged?
Oh, and welcome to the forum. Don't be a stranger.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
TC71
Liberty: Parent of Science & Industry
<< <i>Has the price, perchance, changed? >>
I would say yes since it is included in the price of grading.
1) If there are multiple problems the no grade code will reflect what we consider to be the most serious problem.
2) Pricing will be no different than for any other coin submitted at the chosen service level. There will be no separate GENUINE prices.
Thanks for all the positive comments.
Knowledge is the enemy of fear
<< <i>Is the E dropped from GRADE? I notice the label reads GRADABLE. >>
Defective coins get defective labels. LOL
You guys catch every mistake don't you?
<< <i>
<< <i>Is the E dropped from GRADE? I notice the label reads GRADABLE. >>
Defective coins get defective labels. LOL
You guys catch every mistake don't you?
>>
...and I notice that Webster's says the correct spelling is "Gradable"
<< <i>Is the E dropped from GRADE? I notice the label reads GRADABLE. >>
I went to dictionary.com and there is no listing for "gradeable," however there is one for "gradable"
Go figure!
Don, you appear to be one who seeks out feedback from dealers and collectors. I applaud this line of thinking - especially now that you are in a position to make a some changes.
May I humbly suggest that you take a little of your valuable time and visit the Q&A Forum on these boards. This is a good place to receive questions/comments from the dealer/collector community. But you can take it one step farther - ask us a question on the Q&A Forum. You will likely get alot of great unsolicited feedback and ideas from us.
Glad to have you aboard.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
SO, PLEASE LIST THE REASON FOR THE DOWNGRADE ON THE CERT OR PEOPLE WILL BE TAKEN ADVANTAGE OF.
<< <i>Thank you for hearing and understanding your customers. >>
A GREAT step in the right direction, IMHO. In fact, I re-joined (platinum) today.
<< <i>it would be nice if you would describe the reason for it getting into a genuine holder. I am sure people are going to say that the coin has not been cleaned (or something else) because it is in a PCGS holder. I think until the mainstream market is made aware, people are going to use this to take advantage of people.
SO, PLEASE LIST THE REASON FOR THE DOWNGRADE ON THE CERT OR PEOPLE WILL BE TAKEN ADVANTAGE OF. >>
Not sure I agree with this. If it is in my collection I don't want a bold reminder of the issue, I'd rather have the space for special designations such as variety.
but otherwise seems like a drastic improvement in service!
K S
I'll add my
The entertainment can never be overdressed....except in burlesque
EVERY genuine coin that exists IS "gradable"
K S
<< <i>
<< <i>it would be nice if you would describe the reason for it getting into a genuine holder. I am sure people are going to say that the coin has not been cleaned (or something else) because it is in a PCGS holder. I think until the mainstream market is made aware, people are going to use this to take advantage of people.
SO, PLEASE LIST THE REASON FOR THE DOWNGRADE ON THE CERT OR PEOPLE WILL BE TAKEN ADVANTAGE OF. >>
Not sure I agree with this. If it is in my collection I don't want a bold reminder of the issue, I'd rather have the space for special designations such as variety. >>
Exactly! I never liked the ANACS details report right up front larger than the coin ID.
1) spell out the no-grade description to prevent misunderstanding and deception,
2) use a different acronym on the holder so on-line buyers can search for graded coins without getting mixtures of “genuine” and “graded” responses, and
3) use a distinctive color or style of label limited only to “genuine” coin holders.
These measures will not degrade the PCGS product, but rather, will enhance the clarity and brand recognition of your product and trade dress.
<< <i>I guess it's just one of those words that looks wrong when it's spelled correctly. Something just didn't look right about it. >>
Not to get too OT, but the E is only retained when necessary to soften the preceding consonant,
as in "manageable".
BTW, I like the new service, particularly since it is not mandatory.
<< <i>Thank you for hearing and understanding your customers. >>
I'll second that. I think this is a great idea.
Thank you for listening to your customer base.
This is a very good move in my humble opinion.
For all it may matter, I will now join at the Platinum level and send in a group of coins to show my appreciation.
Bob
I think your reasoning, and the fact that many have asked for this same thing and PCGS is making the change to give it a whirl, is showing you are off to a good start.
Good job
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>
>>
They got it right! The others don't convey the same exact meaning.
<< <i>I still recommend that you:
1) spell out the no-grade description to prevent misunderstanding and deception,
2) use a different acronym on the holder so on-line buyers can search for graded coins without getting mixtures of “genuine” and “graded” responses, and
3) use a distinctive color or style of label limited only to “genuine” coin holders.
These measures will not degrade the PCGS product, but rather, will enhance the clarity and brand recognition of your product and trade dress. >>
<< <i>oops, also makes no sense to proclaim that a coin is "not gradable", far better to simply state it's "not graded".
EVERY genuine coin that exists IS "gradable"
K S >>
I guess the argument could be made that while every coin that exists IS gradable, not every coin (the problem ones, in this case) can or will be graded by PCGS.
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U.S. Revenue Stamps
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<< <i>oops, also makes no sense to proclaim that a coin is "not gradable", far better to simply state it's "not graded".
EVERY genuine coin that exists IS "gradable"
K S >>
Cool.....this one will be on the way to PCGS then
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
A few things:
1. Why the exception for holed and plugged coins? (It may be moot if you agree with #3 below, in which case the exclusion can probably go.)
2. What about re-engraved coins?
3. I've always hated the idea of stating the problem on slab inserts, but it never occurred to me that the backside of slab inserts was available real estate. Now that I see that it is, I'll suggest that the problem be noted on the reverse of the insert. This would be far more tolerable to the owners, and would help protect future owners.
Doggedly collecting coins of the Central American Republic.
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that is left for anyone to find fault with.
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