With the announcement of the new president
PTVETTER
Posts: 6,025 ✭✭✭✭✭
I guess I am out of the running
Pat Vetter,Mercury Dime registry set,1938 Proof set registry,Pat & BJ Coins:724-325-7211
8
Comments
Consider yourself lucky. I'll bet It is a very tough job. Let's see what happens 2 -3 years from now.
Insider2 hit the nail on the head
The basic difficulty is increasing revenue from a flat, or declining, niche product.
Authentication/grading companies begin with less than 1/4th of the adult population as potential market. After excluding various other market and economic factors, the potential is about 1/16th. Past growth has been internal to this small segment through expanding the same service/product to a wider range of 3rd party materials. But, that, too is in a steep decline as US Mint sales numbers demonstrate. (US Mint sales can be aided by more and better marketing and sales promotion, much like they had several years ago.) This situation means that options for increasing revenue within the present niche are very limited. "New" products and services only reach the same niche population. Expansion outside the traditional, comfortable niche carries high risk and uncertain reward. It also means a significant departure from past business models and goals.
Yep -- the new PCGS president has an interesting task ahead of him.
An area in coin grading they definitely need to work on......they really don't provide an incentive for collectors to submit their fully struck or EDS coins. They have and continue to certify coins with weak strikes at lofty grades. This is a glaring problem in the way they grade coins. Once collectors are guided towards a higher quality coin that's being graded, they will learn where the true value in a series lies and navigate towards those goals. They already take great care in determining the wear on a coin for an AU grade, checking for complete details the original sculptor intended in their design of the coin won't be all that complicated. A well trained eye will notice when something is amiss on a coin and takes only seconds to determine a coin's strike.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
New ideas often come with a change in command. Not all ideas are winners though... Innovation in the coin hobby does occur... after all, TPG's did not always exist, CAC is just over a decade old...grading is still an opinion, so a huge possibility exists in that area. I look forward to the future with great optimism... I always have. Cheers, RickO
One thing I would have done is look at the grading fees!
Another thing is to look at the insurance and how claims are handled?