Where would we be without TPGs?

thefinn

I know we like to badger the TPGs about their changing grading standards, and inconsistencies, but where would the coin market be without them? They walk a fine line between giving their customers what they want, and not being so loose as to be a joke.

How many grading companies have come and gone because they lost their balance and stumbled off of the line, or did so due to the greed of those that sign the checks? Where would insider be without having this career that he obviously loves and cares about, but drives him crazy at the same time?

For all of its ups and downs, it has made coin collecting a little safer for those new to it, while at the same time made it a speculating gamble for low pops and conditional rarities. It brings a screening of counterfeits to the industry, and over time allows things that have been accepted as legitimate to be exposed as imposters.

I'm sure there are many other areas of good and bad that I have missed, but overall, I think they have added immensely to the hobby and its enjoyment. And by having more than one, the competition has made them be self-critical and forced improvement where it is needed.

CommemKing

I would have a lot more money in my pocket without them. They certainly make it easier to buy coins.

Smudge

I like the protection from counterfeits and altered coins.

Insider2

@thefinn said: "How many grading companies have come and gone because they lost their balance and stumbled off of the line, or did so due to the greed of those that sign the checks? Where would Insider be without having this career that he obviously loves and cares about, but drives him crazy at the same time?..."

"I'm sure there are many other areas of good and bad that I have missed, but overall, I think they have added immensely to the hobby and its enjoyment. And by having more than one, the competition has made them be self-critical and forced improvement where it is needed."

When NCI became the third major TPGS, my boss at INSAB (the first TPGS) was extremely happy as he believed competition was a good thing and collectors should have a place to go for a second opinion (ANACS at the time) on the grade and authenticity of a coin. That is why INS kept the coin's grade separate from the certificate of authenticity! While grading is very subjective authenticity is not.

We all should thank our lucky stars for slabs as very many "full-time professional dealers" would be back at their old jobs or broke. Additionally, former Fly-by-Night large advertisers have been forced to clean up their business practices to the benefit of their customers.

BTW, I like to take full responsibility for helping to speed the demise of at least one grading service by being too conservative while applying the old grading standards of the 1970's.

ricko

Coins would be cheaper, many more arguments about grades, more ripoffs due to fakes... and we would not have this forum. Cheers, RickO

asheland

I'm glad we have them.

santinidollar

Without the TPGs, we’d spend way too much time looking at cleaned AUs being peddled as “brilliant uncirculated.”

BillDugan1959

Counterfeits would be even more of a problem than they already are.

ReadyFireAim

To me, if it isn't in plastic, it's worth what it says on the coin.

Coinstartled

We would never have had $12,000 common date Washington quarters.

Coinstartled

@PerryHall said:

@ReadyFireAim said:
To me, if it isn't in plastic, it's worth what it says on the coin.

So, are you saying that a raw Morgan dollar is only worth a dollar? Where's that disagree button when you need it?

The one on my desk says 1882. That is about right.

1630Boston

I would not be here.

ReadyFireAim

@PerryHall said:
So, are you saying that a raw Morgan dollar is only worth a dollar? Where's that disagree button when you need it?

I don't know Morgan dollars from wooden nickels.
It might be some aluminum/lead alloy that the Chinese just cooked up.

TwoSides2aCoin

I'd still be dealing with raw coins. Oh yeah, that's mostly what I do, and where I am, without them (TPGs) .

But I struggled, as a child, when adults took me by the hand... to lead me away from what I thought was fun. (Coins). What a world of wickedness we live in.

Ok, the " sermon on the mount"
is over.

Treashunt

@CommemKing said:
I would have a lot more money in my pocket without them. They certainly make it easier to buy coins.

agreed.
and they would have less of our $'s

lowcountrycoinut

With TPG you take the good with the bad, and it is mostly good!

topstuf

We'd be stumbling around enjoying the hell out of our albums of coins we like the "look" of and CAC would be broke.

IrishMikey

I remember a neighbor of mine that introduced me to coin collecting when I was a pre-teen. His collection of Mint State bust half dollars was amazing. Pretty sure that some of them are now in AU-58 holders, but that does nothing to stop the "WOW" factor. He died before the first encapsulated coins entered the market, so I am pretty sure he would be amazed, enthusiastic, intrigued, and appalled by the concept of a TPG. All at the same time.

RogerB

All of the major TPGs do a great job of authenticating coins and medals - that includes identifying altered and ex-jewelry pieces.

The problems that damage the hobby economy have occurred due to instability of "grading" and a lack of agreed standards. All TPGs should grade to the identical set of standards, and thus build customer base and loyalty on other factors. But, the only source of hobby-wide standards is, logically, ANA - and they have dissipated what they once stabilized.

thefinn

I agree that the Polaris star has strayed from due north. Unfortunately as mentioned by RogerB, the ANA has shirked its position (it would be unfair to call it a responsibility) of being the umpire and rule maker. Without an "administrator" that is respected and impartial, it is hard to make sure that we don't get grade-creep. I think the best way other than having one entity to do that, like a dictatorship, is to have more than one TPG that helps to keep the other(s) in check. If one starts to stray, then the market praises or punishes. Everyone wants a higher grade on their coins, but just like a country that prints too much currency, or debases its coins, the value of their product goes down. And with graders coming and going, it can be difficult to maintain that consistency - even with the limits stated.

I think they do a fairly good job considering. All of the exploding of prices due to perceived rarities is caused by the market, and the graders are just giving the people what they want.