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Different Labels

OkieracingOkieracing Posts: 5 ✭
in U.S. Coin Forum

Why in the world are there so many different labels? I am new at collecting slabbed coins. I would mainly collect uncirculated coins and put them in books. But now I am starting to collect slabbed coins. One thing that has me so confused is all the different labels. I seen the same coin at different prices because of the label. I know on the state coins I been collecting the coins with the state flag labels. As far a the national park coins I been trying to get the First Strike labels. I see that there are different types of first day of issue labels as well. Then on top of that you have the different grading companies. You have PCGS and NGC. Which company is better? I have some of both. I didn't realize at first that PCGS used PR when they graded their coins and NGC used PF when they graded their coins. Is PR better than PF? I have seen that a lot of time a PR 69/70 graded coin will go for a little higher price than a PF 69/70 graded coin even though they are the same coin. If anyone can help make some sense out of this confusion I would greatly appreciate it.

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    GrantuGrantu Posts: 188 ✭✭✭

    First of all, welcome to the forum! There’s a lot to unpack here so I’ll address one of your questions and let other members chime in on the others.

    1. Who is better PCGS or NGC? Well that depends who you ask. Personally, I have no issues with either of them. PCGS sometimes commands a little higher premium than NGC for the same coin but that is up to personal preference. They are both well respected and top notch grading companies. Some have said that PCGS is slightly harsher on grading but for the most part they are pretty close. It seems like you are pretty new so take your time and do your research. Good luck!
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    MFeldMFeld Posts: 12,056 ✭✭✭✭✭

    @Okieracing said:
    Why in the world are there so many different labels? I am new at collecting slabbed coins. I would mainly collect uncirculated coins and put them in books. But now I am starting to collect slabbed coins. One thing that has me so confused is all the different labels. I seen the same coin at different prices because of the label. I know on the state coins I been collecting the coins with the state flag labels. As far a the national park coins I been trying to get the First Strike labels. I see that there are different types of first day of issue labels as well. Then on top of that you have the different grading companies. You have PCGS and NGC. Which company is better? I have some of both. I didn't realize at first that PCGS used PR when they graded their coins and NGC used PF when they graded their coins. Is PR better than PF? I have seen that a lot of time a PR 69/70 graded coin will go for a little higher price than a PF 69/70 graded coin even though they are the same coin. If anyone can help make some sense out of this confusion I would greatly appreciate it.

    Welcome to the forum.
    I recommend not spending any extra money based on the labels, unless or until you have a good idea as to whether they are worth a premium and what a reasonable premium is.

    “PR” and “PF” both stand for “Proof” - the method of manufacture, so they mean the same thing.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

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    TomBTomB Posts: 20,739 ✭✭✭✭✭

    Howdy and welcome.

    You appear to be a bit bewildered, so here goes...

    1) PR and PF are the same thing. They both stand for "proof" which is a method of manufacture and not a grade. PCGS uses PR to denote it while NGC uses PF.

    2) In general, PCGS commands a higher price across the spectrum of US coins, but each coin is worth what it is worth and there are plenty of exceptions.

    3) All the new labels are a marketing gimmick, in my opinion, and add nothing to the coin. They are there to provide additional demand for ultra-common coins so that more folks submit more ultra-common coins to PCGS/NGC and so that PCGS/NGC make more money certifying ultra-common coins that are otherwise not worth certification and would otherwise not be sent in for certification.

    4) Collect the special labels at your own financial peril and expect that most folks will not care about them at all.

    5) Buy a Red Book and read it.

    6) Have fun!

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
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    braddickbraddick Posts: 23,133 ✭✭✭✭✭

    Think of PCGS as FORD.
    There is one FORD, yet different makes and models.
    Think of the different series as makes and the labels as models.
    I hope this helps.

    peacockcoins

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    OkieracingOkieracing Posts: 5 ✭
    edited March 17, 2023 10:38AM

    Thank you all so much for your help.
    I figured that the labels had a marketing aspect to them, but I wanted to make sure. I am sure people will buy as to what label they like. Like I said above I like the flag labels for the state coins. NGC has a cable car label that I really like the looks of, but the coins sell at a lower price most of the time. May buy them due to the fact they are a lower price a lot of the times. lol.

    TomB
    I assume the Red Book you are talking is the coin price guide correct?

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    MFeldMFeld Posts: 12,056 ✭✭✭✭✭

    @Okieracing said:
    Thank you all so much for your help.
    I figured that the labels had a marketing aspect to them, but I wanted to make sure. I am sure people will buy as to what label they like. Like I said above I like the flag labels for the state coins. NGC has a cable car label that I really like the looks of, but the coins sell at a lower most of the time. May buy them due to the fact they are a lower price a lot of the times. lol.

    TomB
    I assume the Red Book you are talking is the coin price guide correct?

    I’m not Tom, but here’s the “Red Book” :
    https://en.wikipedia.org/wiki/A_Guide_Book_of_United_States_Coins

    It’s not especially good for precise coin values, but it contains a significant amount of helpful information about a great many coins.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

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    dsessomdsessom Posts: 2,212 ✭✭✭✭✭

    @TomB pretty much covered it all! I have gotten to where I intentionally hunt down PCGS coins with a Gold Shield label, because many of them have a TrueView image as well, and the TrueView images give my Registry a nice, uniform look.

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    OkieracingOkieracing Posts: 5 ✭

    Thank you @MFeld. I will be sure to pick one up.

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    @Okieracing... Welcome aboard. You have answers to some of your questions above... There is much to learn in numismatics, and none of us started out knowing it all... In fact, none of us know it all... There is that much to know in our hobby. That being said, this forum has leading experts in many areas of numismatics, as contributing members who share their knowledge freely. So, get a Redbook, ask questions, post pictures... Above all, have fun. Cheers, RickO

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