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Thread Title: Does PCGS slab so called dollars?
Created On Wednesday February 07, 2007 5:44 PM


Bear
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Wednesday February 07, 2007 5:44 PM

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coindeuce
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Wednesday February 07, 2007 5:46 PM

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Not yet. But I'd be willing to bet they do soon enough. When they see how much revenue is being generated by SCD submissions across the street.

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ScarsdaleCoin
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Wednesday February 07, 2007 6:07 PM

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the issue IMHO is that nobody really knows them that well.... over on the other street they are very backed up in grading them..... kinda fun having em raw....but they have become so HOT this past 2 years that the market is really digging the slabbed ones!

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Edited: Wednesday February 07, 2007 at 6:07 PM by ScarsdaleCoin

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tmot99
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Wednesday February 07, 2007 6:14 PM

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No, and they have no intention of doing so. They do, however, slab Lesher Dollars which are So-Called Dollars.

From the Q&A Forum:

Asked on October 25, 2006:



<< Ron:

When is PCGS going to start grading so-called dollars, medals, and tokens? NGC cranks out a lot and is basically owning the market on these. This area of exonumia has been growing the past few months and my expectations are that it will continue to grow over the next few years. There are more and more people entering the market as can be seen in auctions. You should give this some serious consideration as it would be a nice source of additional income.

Thanks.
Tom

Hi Tom,

As much as I like tokens and medals (I was a serious collector of Patriotic Civil War tokens in the late 1970's and through the 1980's), PCGS has no plans to enter this area anytime soon. >>



Asked on Nov. 14, 2006



<< Several people including myself have asked about tokens and medals. Your answer has been a simple "no." Can you give us some understanding as to why you are not interested in this segment of numismatics?

Hi Tmot99,

Our decision to stay out of this market does not lessen our appreciation for the interesting coins and people who make up this segment of numismatics. >>




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Zoins
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Wednesday February 07, 2007 6:19 PM

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I'm not sure if there's a better search phrase to find SCDs on the bay but when I search under 'so-called dollar' I get 161 results in all categories. When I search for 'american silver eagle' in the coins & paper money category I get 3459 results. This simple exercise would seem to indicate the number of SCDs on the market is pretty low and may indicate low revenue potential, at least for now. Does NGC publish pops for SCDs or is there any way to really know how many they are certifying?

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Edited: Wednesday February 07, 2007 at 6:24 PM by Zoins

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tmot99
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Wednesday February 07, 2007 6:24 PM

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There's currently 352 items in the so-called dollar category under exonumia on ebay. There are frequently so-called dollars found elsewhere within ebay and I'm not divulging my secret search terms.

Edited to add that in the past 12 months, I've sent in hundreds of SCDs to NGC and I'm a really small fry. I currently have an order in with 32 of them and just got back an order with 25 more. After FUN, I ran into a guy that told me he just submitted over 300 of them just at FUN.

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Edited: Wednesday February 07, 2007 at 6:25 PM by tmot99

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Zoins
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Wednesday February 07, 2007 6:31 PM

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I bet PCGS would be more interested in SCDs if modern SCDs were more of a market. The classic SCDs cataloged by HK seem to be a pretty small market and the market for modern SCDs is undeveloped due to not having a catalog. I think one of the SCD catalogers mentioned that he thought New Orleans Mardi Gras doubloons should all qualify as SCDs. There are also many modern commem silver bullion rounds that seem like they would qualify as SCDs. However, at this time, neither Mardi Gras doubloon collectors or silver bullion round collectors are interested in certification. Also, it seems that the SCD book efforts do not cover modern SCDs at the moment. If modern SCDs were cataloged and collectors of those began to care about certification, NGC might certify them and create a larger market which might generate interest from PCGS ... but then again it might not. As it is, it seems the market for certified SCDs is relatively small, the effort to authenticate pretty high and the revenue potential fairly low (at least relative to other things).

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Edited: Wednesday February 07, 2007 at 6:38 PM by Zoins

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tmot99
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Wednesday February 07, 2007 6:40 PM

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The new book will not go past 1964 as it stands right now. NGC has asked me to extend the book beyond that point, but I do not have the time nor interest to pursue that. I may extend enough to include the 1964/1965 NY World's Fair in a future edition. NGC, to the best of my knowledge, will slab later, more modern SCDs if they are from a fair or recognized event.

The problem with including "modern SCDs" is that there are so many. Like silver rounds, anybody who wants to make one, can. That's not the point with so-called dollars. In general, they were issued as a commemorative item from fairs or local events. I do believe that there is a catalog of doubloons, but I am not 100% certain on that.

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Zoins
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Wednesday February 07, 2007 6:48 PM

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<< The problem with including "modern SCDs" is that there are so many. >>

Sure that's a problem from a book author perspective, but that may be exactly what interests a TPG from a revenue potential perspective. I'm just saying that PCGS may be more interested in certifying SCDs if the market was larger. One way to make the market larger is to include moderns. As it is, PCGS seems to like modern coins a lot even if a number of their supporters hate collecting them. It seems that the schism between classic and modern coin collectors may also exist for SCDs, but from a TPG's perspective, they may want a larger market even if not all their customers will be active in both classics and moderns.

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Edited: Wednesday February 07, 2007 at 7:11 PM by Zoins

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flaminio
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Wednesday February 07, 2007 6:51 PM

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C'mon, Kool-Aid drinkers. Let NGC win this one. They've done a journeyman job with SC$.

FWIW, ANACS also slabs them. And ICG will slab practically anything (anyone got a link to that gmarguli thread over in Sleepy Hollow?).

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tmot99
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Wednesday February 07, 2007 7:01 PM

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<< C'mon, Kool-Aid drinkers. Let NGC win this one. They've done a journeyman job with SC$.

FWIW, ANACS also slabs them. And ICG will slab practically anything (anyone got a link to that gmarguli thread over in Sleepy Hollow?). >>



Don't forget SEGS does too.

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ScarsdaleCoin
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Wednesday February 07, 2007 7:07 PM

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the true market for so called dollars is huge....it is one of those areas that is just begining to come into play.....lots of guys are sending lots of material to be certified and ICG is slabbing them as well... there is a huge collection at Goldbergs that will be sold when the time is right..... I recommend BUY BUY BUY

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The Nations Best Coin Dealer For *TRIMES* Three Cent Silvers
Go Ahead and Email me - just click here
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tmot99
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Wednesday February 07, 2007 7:11 PM

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<< the true market for so called dollars is huge....it is one of those areas that is just begining to come into play.....lots of guys are sending lots of material to be certified and ICG is slabbing them as well... there is a huge collection at Goldbergs that will be sold when the time is right..... I recommend BUY BUY BUY >>



I heard about that one. It's gonna be huge for the market. Stacks just sold a big bunch and Heritage has a 106 lots at Long Beach.

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