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Introducing NGCX, a 10-point Grading Scale for Coins

pointfivezeropointfivezero Posts: 1,638 ✭✭✭✭✭

Is this old news?

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    1madman1madman Posts: 1,298 ✭✭✭✭✭

    Just saw it for the first time! Wow! Not sure how this will shake out in the market. 1982-present coins, available to grade through a few selected dealers

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    Cranium_Basher73Cranium_Basher73 Posts: 2,813 ✭✭✭✭✭

    Throw a coin enough times, and suppose one day it lands on its edge.

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    braddickbraddick Posts: 23,122 ✭✭✭✭✭

    Those initials sound eerily like a Crypto company that recently lost billions. . .

    :neutral:

    peacockcoins

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    MICHAELDIXONMICHAELDIXON Posts: 6,411 ✭✭✭✭✭

    “Introducing NGCX, a 10-point Grading Scale for Coins

    NGC is excited to introduce NGCX, the first 10-point grading scale for coins. The 10-point grading scale has long been the standard for most collectibles, including comic books, sports cards, trading cards and more. Now, with NGCX, coin collecting will benefit from the same intuitive and approachable scale.

    The new 10-point grading scale will supplement the 70-point Sheldon scale, which will continue to be used by NGC for regular submissions.

    A Certified Collectibles Group affiliate, NGC is the world leader in third-party coin certification because of its constant innovation and collector focus, with NGCX being only the latest example. While there is no difference in quality between a grade on the 10-point scale and a grade on the 70-point scale, the difference for the hobby is exponential. New collectors now have a clear path to embrace coin collecting. The path is NGCX.”

    Spring National Battlefield Coin Show is September 5-7, 2024 at the Eisenhower Hotel in Gettysburg, PA. WWW.AmericasCoinShows.com
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    johnny010johnny010 Posts: 1,090 ✭✭✭✭✭

    Terrible
    This is a joke?

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    pointfivezeropointfivezero Posts: 1,638 ✭✭✭✭✭

    Appears to be a "supplemental" option and not a replacement for the Sheldon scale (for now):

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    ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    Is this April 1st?

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    TPRCTPRC Posts: 3,740 ✭✭✭✭✭

    @TomB said:
    I hope my submissions come back at least a IX.VIII or they aren't worth the plastic!

    I just want mine to come back some day!

    Tom

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    Jzyskowski1Jzyskowski1 Posts: 6,651 ✭✭✭✭✭
    edited November 16, 2022 4:22PM

    Geez.
    It sure looks like a IX.VIII. 😁
    And a 2023. Now that’s what I call Advance Release 🙀🦫

    🎶 shout shout, let it all out 🎶

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    TPRCTPRC Posts: 3,740 ✭✭✭✭✭

    @wooglout said:
    Mint State/Uncirculated

    Circulated

    8.8 = a coin showing slight wear on the highest points of the design. Full details visible.
    8.5 = a coin showing slight wear on less than 50% of the design. Full details visible.

    I know that (fictitious) coin is only graded 8.8, but it is so close, it really deserves an 8.9, or 8.95, and personally, I would grade it 8.98 or 8.99. I simply cannot see anyone in their right mind giving it a grade of less than 8.8+ or *!

    Tom

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    Namvet69Namvet69 Posts: 8,675 ✭✭✭✭✭

    Is "really spiffy" better than "totally cool"? Inquiring minds want to know. Peace Roy

    BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall

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    messydeskmessydesk Posts: 19,704 ✭✭✭✭✭
    edited November 16, 2022 5:36PM

    There are actually fewer grades on this scale than there are on the current one, even ignoring pluses.

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    Just got an email about this new scale! I think they just need to do 100 instead of 10.....

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    BryceMBryceM Posts: 11,735 ✭✭✭✭✭

    Sigh

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    BoosibriBoosibri Posts: 11,868 ✭✭✭✭✭

    It’s a gimmick to capture the telemarketing crowd

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    The Sheldon 70 point scale was intended for grading large cents. If this new scale catches on, fine. If not, fine.

    Aren't there some counterfeits on eBay to get upset about?

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    santinidollarsantinidollar Posts: 1,056 ✭✭✭✭✭

    There is absolutely no point to this. None whatsoever. Somebody needs to get a life and I kid thee not.

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    lilolmelilolme Posts: 2,466 ✭✭✭✭✭

    Those won't be worth much in the Registry sets. :)
    That perfect 10 is only a VG10. :D
    (times the weight factors)

    https://youtube.com/watch?v=2YNufnS_kf4 - Mama I'm coming home ...................................................................................................................................................................... RLJ 1958 - 2023

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    Project NumismaticsProject Numismatics Posts: 1,338 ✭✭✭✭✭

    @MasonG said:
    The Sheldon 70 point scale was intended for grading large cents. If this new scale catches on, fine. If not, fine.

    Aren't there some counterfeits on eBay to get upset about?

    It’s fine until you go to sell your collection and have to pay thousands of dollars to have it all regraded to the new system. We don’t need more grading systems, grades, TPGs or stickers.

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @J2035 said:
    It’s fine until you go to sell your collection and have to pay thousands of dollars to have it all regraded to the new system. We don’t need more grading systems, grades, TPGs or stickers.

    It's entirely voluntary. Nobody has to have their coins regraded.

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    CatbertCatbert Posts: 6,604 ✭✭✭✭✭

    I think it’s a smart move that focuses on moderns and those who buy from the telemarketers. Explaining the Sheldon scale to the bullion collector or casual modern buyer probably confuses more than helps.

    People resist change, yet I think the target audience will readily accept.

    Now about those ugly white prongs…….

    "Got a flaming heart, can't get my fill"
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    Project NumismaticsProject Numismatics Posts: 1,338 ✭✭✭✭✭

    @MasonG said:

    @J2035 said:
    It’s fine until you go to sell your collection and have to pay thousands of dollars to have it all regraded to the new system. We don’t need more grading systems, grades, TPGs or stickers.

    It's entirely voluntary. Nobody has to have their coins regraded.

    If you want to sell for top dollar, your coins need to be in the best plastic. Right now, that’s PCGS with a green bean for most US coins.

    If that becomes NGCX or another TPG then you will need to have your coins regraded, otherwise you leave money on the table.

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @J2035 said:

    @MasonG said:

    @J2035 said:
    It’s fine until you go to sell your collection and have to pay thousands of dollars to have it all regraded to the new system. We don’t need more grading systems, grades, TPGs or stickers.

    It's entirely voluntary. Nobody has to have their coins regraded.

    If you want to sell for top dollar, your coins need to be in the best plastic. Right now, that’s PCGS with a green bean for most US coins.

    If that becomes NGCX or another TPG then you will need to have your coins regraded, otherwise you leave money on the table.

    If getting them regraded gets you more money, get them regraded and thank the grading company.

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    Project NumismaticsProject Numismatics Posts: 1,338 ✭✭✭✭✭

    @MasonG said:

    @J2035 said:

    @MasonG said:

    @J2035 said:
    It’s fine until you go to sell your collection and have to pay thousands of dollars to have it all regraded to the new system. We don’t need more grading systems, grades, TPGs or stickers.

    It's entirely voluntary. Nobody has to have their coins regraded.

    If you want to sell for top dollar, your coins need to be in the best plastic. Right now, that’s PCGS with a green bean for most US coins.

    If that becomes NGCX or another TPG then you will need to have your coins regraded, otherwise you leave money on the table.

    If getting them regraded gets you more money, get them regraded and thank the grading company.

    You’re missing the point. Many collectors are invested in PCGS / CAC plastic today because they believe these coins are valued the most in the market. If the grading scale changes, they have to resubmit for regrade before selling to get top dollar and meanwhile are out the grading fee. Multiply by 100s of coins and that is thousands of dollars for a potential collector. How is that good for collectors? I should thank the TPGs for changing the rules of the game and charging me for it?

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    spacehaydukespacehayduke Posts: 5,476 ✭✭✭✭✭

    @santinidollar said:
    After the recent CAC announcement, it was only a matter of time before somebody did something real stupid. My congratulations to PCGS: they let NGC take the booby prize.> @santinidollar said:

    .
    .

    So implementing a new way to produce understandable grading for a facet of the market that will result in more engagement of the folks that collect in that market, and likely increase their market share in that market and make NGC more money, is stupid? Probably exactly opposite of that.

    I'd hold off that calling it that until you see whether it succeeds and whether other TPG's in that part of the market follow suit or also come up with something new to capture more market share there.............


    Successful transactions with-Boosibri,lkeigwin,TomB,Broadstruck,coinsarefun,Type2,jom,ProfLiz, UltraHighRelief,Barndog,EXOJUNKIE,ldhair,fivecents,paesan,Crusty...
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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭
    edited November 16, 2022 9:21PM

    @J2035 said:
    You’re missing the point.

    I don't think so.

    @J2035 said:
    Many collectors are invested in PCGS / CAC plastic today because they believe these coins are valued the most in the market.

    Sure, that's true.

    @J2035 said:
    If the grading scale changes, they have to resubmit for regrade before selling to get top dollar and meanwhile are out the grading fee.

    That sounds like an argument for not getting your coins graded until you're ready to sell, since there's never been a guarantee that the grading scale won't change.

    @J2035 said:
    Multiply by 100s of coins and that is thousands of dollars for a potential collector. How is that good for collectors?

    If getting your coins regraded gets you more money, that's good- right? If it doesn't, don't get them regraded and sell them as they are.

    edited to add... Your argument is the same one that was used against the idea of slabbing coins 30 years ago. And the argument against stickering slabbed coins 15 years ago. Just sayin'.

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    Project NumismaticsProject Numismatics Posts: 1,338 ✭✭✭✭✭

    @MasonG said:

    @J2035 said:
    You’re missing the point.

    I don't think so.

    @J2035 said:
    Many collectors are invested in PCGS / CAC plastic today because they believe these coins are valued the most in the market.

    Sure, that's true.

    @J2035 said:
    If the grading scale changes, they have to resubmit for regrade before selling to get top dollar and meanwhile are out the grading fee.

    That sounds like an argument for not getting your coins graded until you're ready to sell, since there's never been a guarantee that the grading scale won't change.

    @J2035 said:
    Multiply by 100s of coins and that is thousands of dollars for a potential collector. How is that good for collectors?

    If getting your coins regraded gets you more money, that's good- right? If it doesn't, don't get them regraded and sell them as they are.

    edited to add... Your argument is the same one that was used against the idea of slabbing coins 30 years ago. And the argument against stickering slabbed coins 15 years ago. Just sayin'.

    No it’s not. The advent of TPGs solved several real problems in the market. CAC further solved another problem. Explain to me how moving to a 1-10 or 1-100 grading scale helps the hobby.

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭
    edited November 16, 2022 10:21PM

    @J2035 said:
    No it’s not.

    Are you sure? ANACS was grading coins before PCGS and anybody who spent money on that had to spend more to move them to PCGS. As well, there were posts on this very forum by people complaining about "having to get their coins stickered" when CAC started.

    @J2035 said:
    Explain to me how moving to a 1-10 or 1-100 grading scale helps the hobby.

    It's more understandable to people who are not familiar with the hobby. Seems like that wouldn't hurt.

    edited to add... This is the way it's supposed to work. Somebody has an idea for a product/service that they think others will pay for and they put it out there. If people think it's a good idea, they'll pay for it. If not, it will end up going away.

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    ianrussellianrussell Posts: 2,459 ✭✭✭✭✭

    I know we've all thought about a 100 point scale for a while, and it appears NGC's 10 point scale is really a disguised 100 point scale.

    I am interested if there's been any successful conversion of a grading scale of anything in the past few decades for other collectibles or anything else?

    • Ian
    Ian Russell
    Owner/Founder GreatCollections
    GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
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    LogPotatoLogPotato Posts: 2,172 ✭✭✭✭

    Just my opinion here:

    I don't think it's anything to do with helping new collectors. It's a way to reinvent your service to make it fresh and get more revenue.

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    johnny010johnny010 Posts: 1,090 ✭✭✭✭✭

    I guess it’s real.

    9.9 vs MS69
    9.8 vs MS68

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    santinidollarsantinidollar Posts: 1,056 ✭✭✭✭✭

    @Catbert said:
    I think it’s a smart move that focuses on moderns and those who buy from the telemarketers. Explaining the Sheldon scale to the bullion collector or casual modern buyer probably confuses more than helps.

    People resist change, yet I think the target audience will readily accept.

    Now about those ugly white prongs…….

    I suppose this all is a commentary on the state of the world. Instead of introducing new collectors to a scale that has served the hobby well, let’s establish a new system the spoiled little darlings can “identify” with. Sports cards and coins have nothing in common.

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    ShaunBC5ShaunBC5 Posts: 1,633 ✭✭✭✭✭

    I’ll keep my English system of measurements and Sheldon grading scale with the understanding that they’re weird and not understood by the rest of the world.
    As for the service, I don’t have a problem with it. If the market likes it, it will continue to be a thing. If not, they’ll stop the experiment and/or not spread it to the coins I have interest in. If it spreads I will have the option to adapt or not.

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