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Weekend Poll: Do they overgrade gold coins at NGC?
RYK
Posts: 35,789 ✭✭✭✭✭
This issue came up (in a fairly heated debate) in another thread. The question is this: relative to PCGS, are NGC gold coins (early, rare date, and generic (ie. Saints)), more likely, equally likely, or less likely to receive a higher grade at NGC? I have my own opinions, experience, and perspective, that I will add later in the thread.
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Russ, NCNE
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Check out some of my 1794 Large Cents on www.coingallery.org
In my limited experience, PCGS coins, on average, will sell for a bit more than NGC coins. This is best and most reliably illustrated in Saints and is a fairly consistent observation that I have had, again, on average. Obviously, it depends on the individual coin, and there are anecdotes for every possible scenario.
My favorite example in rare gold, however, comes from the Duke's Creek collection. This was a high grade, finest known, Dahlonega collection in which the coins were all PCGS holdered by the owner and well-known by Dahlonega experts. Upon the sale of this impressive collection earlier this year, the new owners resubmitted the coins to NGC. Of 59 coins submitted to NGC, 1 upgraded by three grades, 6 upgraded by two grades, 28 upgraded by one grade, 23 crossed at the same grade, and 1 was downgraded by one grade. While, the analysis would be more complete if the coins were retried at PCGS first and then sent to NGC, but my conclusion must be that NGC is, on average, more generous than PCGS for rare date gold.
Link to my previous thread and analysis of Duke's Creek collection