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CoinFacts Challenge

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    ZoinsZoins Posts: 33,910 ✭✭✭✭✭

    @logger7 said:
    PCGS is unique in having had the best links to coins and images; NGC made it so you had to know the grade to look up an image, before that you could find all coins on an invoice with images just by knowing one of them.

    Yeah, I noticed that too. I'm not sure of the reasoning for needing to know the grade.

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    davewesendavewesen Posts: 5,859 ✭✭✭✭✭

    I used it to help me in counterfeit detection. For most coins I do not know all the dies used.

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    ZoinsZoins Posts: 33,910 ✭✭✭✭✭
    edited January 12, 2019 9:42PM

    @burdell said:
    I believe PCGS is making a serious mistake. How much research and learning is being prevented?

    CF was not broken. It did not need to be 'fixed'.

    I agree that such a drastic response is a mistake but CF was broken along with the pops which are still broken but harder to see now.

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    oih82w8oih82w8 Posts: 11,906 ✭✭✭✭✭
    edited January 13, 2019 9:29AM

    I have used the images, especially "view all" when I was comparing varieties. I guess I can still use those ATS.

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    illini420illini420 Posts: 11,466 ✭✭✭✭✭

    The changes regarding the access to images in coinfacts are very disappointing and hope that decision is quickly reversed. The way this change was made concerns me not only as a shareholder of the company, but more importantly as a collector. Bummer.

    Also, I used to be able to go directly to the coin's grade in coinfacts by typing in the coin number and grade as follows:

    37635.67

    That no longer works. I now need to type the coin number only, 37635 and then go to the grade as an extra step.

    Hopefully that previous functionality can be restored as well.

    :-1:

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    ZoinsZoins Posts: 33,910 ✭✭✭✭✭
    edited January 13, 2019 12:09PM

    @illini420 said:
    The changes regarding the access to images in coinfacts are very disappointing and hope that decision is quickly reversed. The way this change was made concerns me not only as a shareholder of the company, but more importantly as a collector. Bummer.

    For shareholders, the next Earnings Call should be coming up in February and it could be a good place to discuss this if it hasn't been resolved yet.

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    ZoinsZoins Posts: 33,910 ✭✭✭✭✭
    edited January 13, 2019 9:32AM

    @EagleEye said:
    The necessary change should be to have a check-box on the submissions page asking submitters if the image can be posted on CoinFacts.

    I proposed something like this in another post, however after thinking about it, I would not want this if I were PCGS because it involves tracking what individual submitters want and giving up too many rights to their photos. I would not want to give individual submitters so much control over what the company can post as the images are supposed to be owned by PCGS free and clear, without encumbrances. Keeping track of who allowed what can be a nightmare, and what about when the coin changes ownership?

    A solution that doesn't require PCGS keep track of individual submitter wishes could be:

    • Do not post non-paid TrueViews to CoinFacts (aka CoinFacts images), but on Cert Verification only
    • Request submitters not request TrueView if they know they are trying for an upgrade many times
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    ZoinsZoins Posts: 33,910 ✭✭✭✭✭
    edited January 13, 2019 9:16AM

    @tradedollarnut said:
    I was just looking at a Gobrecht dollar for sale. Since the TPGs are all over the place on what is an original and what is a restrike, my normal next step would be to go to CoinFacts all images and pull up the high rez pic to check for die cracks, die rust, etc.

    Since I cannot do that, I have zero interest in pursuing the coin - the wheels of commerce grind to a halt

    Makes sense. I think this change can dramatically reduce interest in buying coins. Seems like Heritage may be the last remaining archive of photos?

    I’ve also been wondering if would make sense for dealers like Legend, DWN, CRO, etc. to contribute photos from their archives to a central coin tracking site. CoinFacts and TrueViews are just one view of a coin and we know coins can look very different on different photos.

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    smalltimesmalltime Posts: 171 ✭✭✭

    I hope they change it back to the old system.. Showing only the latest top 3 graded coins is totally insufficient information for comparing coins considered for grading or even purchasing. In building my Kennedy Half registry sets, I continually referred to ALL the photos before submitting so I didnt waste money on something with a lower value than the grading costs. I used to have 30 photos of my coins accessible, now only a few. I just think there has been too much information lost with this change.

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    ZoinsZoins Posts: 33,910 ✭✭✭✭✭
    edited January 13, 2019 2:35PM

    Ron Guth wrote:
    By being associated with PCGS, we see virtually all of the great coins and collections at one time or another. For years, we’ve been imaging all of these great coins and this great library of images will only get better as time goes on.

    I hope this continues!

    Does Ron still head up CoinFacts?

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    edwardjulioedwardjulio Posts: 1,034 ✭✭✭✭✭

    @Zoins
    Interesting thought. Any possibility for a subscription service providing coin images provided from multiple sources?

    End Systemic Elitism - It Takes All Of Us

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    spacehaydukespacehayduke Posts: 5,476 ✭✭✭✭✭

    @OriginalDan said:
    Interesting to go back and read this interview with Ron Guth back in 2016 around the announcement of Coinfacts becoming a free service and research tool.

    ink to article

    Notably:

    Guth: "A lot of what I do is ’clean up.’ For example, we sometimes get duplicate images involving coins that have been resubmitted, so I have to make sure we only have one image of the specific coin instead of several."

    Guth: "We just went to a free model, which is a big change from our previous subscription model. We may be adding some advertising on the website, but it won’t be an in-your-face model. It will be subtle. We’ve already seen the traffic to the site jump dramatically since it became free on February 3rd (2016). It tripled the first four days it was free, thus there are a lot of additional "eyeballs" coming to the site. By being associated with PCGS, we see virtually all of the great coins and collections at one time or another. For years, we’ve been imaging all of these great coins and this great library of images will only get better as time goes on."

    Wow, this says it all. And now the tide reverses itself.

    Best, SH


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    ashelandasheland Posts: 22,694 ✭✭✭✭✭

    Good points made here.

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    TwoSides2aCoinTwoSides2aCoin Posts: 43,851 ✭✭✭✭✭

    @Justacommeman said:
    Follow the money

    m

    I say "collect what you see, not what you can't see ".

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    RogerBRogerB Posts: 8,852 ✭✭✭✭✭
    edited January 15, 2019 8:15PM

    RE: "For years, we’ve been imaging all of these great coins and this great library of images will only get better as time goes on."

    Not if the library is thrown in the fire. PCGS is not alone, however. Most of Stacks', Bowers and Merena, ANR and other company image databases have been destroyed - although usually not intentionally.

    Overall, corporations are poor stewards of knowledge, unless it serves their immediate, narrow purpose. In today's environment the argument is: "We want to save space and reuse memory/database resources." Which is bologna-speak for "We can't see beyond the end of our MBA noses."

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    cameonut2011cameonut2011 Posts: 10,062 ✭✭✭✭✭
    edited January 15, 2019 8:23PM

    I thought it was useful in looking at multiple examples of different die marriages/die states.

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    ldhairldhair Posts: 7,124 ✭✭✭✭✭

    The images were a great learning tool for me. It was much faster than using Heritage.

    Larry

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    cameonut2011cameonut2011 Posts: 10,062 ✭✭✭✭✭

    @ldhair said:
    The images were a great learning tool for me. It was much faster than using Heritage.

    But my experience is that there are many coins that fall into a Coin Facts gap and don't show at least not for me.

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    robecrobec Posts: 6,606 ✭✭✭✭✭

    @OldIndianNutKase said:
    Brett,

    I trust from your response as an announcement that you have encountered an issue as to the "privacy" of the information that you are publishing in CoinFacts. As the publisher, you certainly have a responsibility to Collector's Universe to address privacy issues as they may apply, legally, and from a business viewpoint. Given that PCGS is a "third" party grading service implies that PCGS is not a dealer nor is PCGS a collector, but rather an intermediary between the other two. let us better understand the nature of PCGS relationship with the collectors and dealers.

    When I began collecting coins in the late 1950's dealers would establish the grades of the coins that they were selling........and they would also establish the grades of the coins that they were buying. So, for a given coin they would sell at a retail price of XF, the same coin they would offer to buy for VF wholesale price. While most understand that they buy wholesale and sell retail, they used their own grading standard as additional leverage against the collector. Third Party Grading Services like PCGS leveled the grading issues for the benefit of the hobby.

    However, dealers continue to have a commercial advantage versus collectors. Your dealer base is challenged by the information that you make openly available in CoinFacts. Through CoinFacts statistical information related to rarity and past auction results, a collector can make informed buying decisions that are not able to be edited by a dealer.

    Through PCGS we have a gateway to the flow of information between collectors and dealers. Significantly, grading, auction results and TrueView images provide transparency to a collector's universe, through an entity named "Collector's Universe". Your credibility is at stake with the information you publish. I would understand that more than a significant percentage of your grading fees come from your dealer base. But if you cater to dealer demands for "privacy" then PCGS will lose their identity as a third party guarantor of quality.

    Through CoinFacts PCGS has unveiled practices of many dealers who play a game of questioning your grading opinions, and in the process, alter the Pop statistics. The coin images that you provide are a collector's best means of evaluating true Pop, as your data base is overstated by the crackout submissions.

    Please restore coin images on CoinFacts for the benefit of transparency in our hobby.

    OINK

    Great response!!

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    ElmerFusterpuckElmerFusterpuck Posts: 4,627 ✭✭✭✭✭

    I hope all the images come back, minus the dups. They were (hopefully changes to 'are) a great tool for grading, variety confirmation and just fun to look at! I sort of understand the privacy thing, but for me personally I loved seeing my coins out there in CoinFacts!

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    Insider2Insider2 Posts: 14,452 ✭✭✭✭✭

    I'm the odd man out. I went to the show all images one time and found it was not helpful for my needs. If you cannot magnify an image as on some auction sites I'll look somewhere else. In the past, I could magnify the three main Coinfacts images. Yesterday, the four times I used the site, I could not. :(

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    TomthemailcarrierTomthemailcarrier Posts: 636 ✭✭✭✭✭

    A month ago today Coinfacts images were cut from the site. They were a valuable tool for the collector base. I understand that PCGS is a business and the opinions of dealers do carry more weight than individual collectors. However, a successful business must balance the needs of the individual collectors versus the desires of the industry heavyweights.
    It was stated that the image removal will be addressed fully in the coming days. PCGS is currently the industry leader. You are recognized as the “gold standard” in the hobby.
    In the coin business our word is our bond. Trust is won over time and is difficult to regain once it is lost.
    When will PCGS update us on the situation? One strategy that is employed after a controversy is to hope that it dies down. I believe that PCGS is better than that.

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