Are there coins not "Worthy" of PCGS grading?

braddick

And I'm not talking about cleaned or problem coins. I'm talking about the ones that are submitters "mistakes" (so to speak).
Earlier in the day a Thread was raised that showed Teletrade images of some coins that were in low mintstate grades. One was a 1972 Kennedy in NGC MS62. I'm not sure what the motivation was when the owner sent this one to NGC as it looked every part of MS62 and really not any finer, but should NGC and PCGS be allowed to deny grading?
Of course they would not charge for this "No Grade" as they do with problem coins that are 'no graded, bodybagged'- the coin would simply be sent back to the submitter not encapsulated.
I know this would cost the grading Services money in the short term, but I think it would increase their credibility and desire, long term.
Your opinion?

dbldie55

They would go broke if they quit grading the coins that are not worthy of being graded. Most of their current business consists of these coins.

RGL

Braddick:

Having scored the worst slabbed coins for your delightfully bad set, are you trying to dry up the market?

danarchy

Here's my opinion on this. It's non of anyone's buisiness what my motivation is for having a coin graded. Perhap, the coin was dear to a decesced family member, first coin you ever collected, the last of a set. A freebie grading? I think the choice not to grade any coin in undamaged condition would hurt the so called credibility of a company. "oh, my coins not good enough?" "I can go else where." Your supposed to attract buisiness, not detour it.
my-2-cents



dan

EVillageProwler

Pat,

I applaud your consumer-mindedness. I think, however, that the services would be reluctant to adopt your idea in concept. It would place them in an awkward situation to have to ascertain the intent of the submitter.

Some people really just want their coins in slabs. They don't mind spending $15 for a $5 coin. It's weird, I know, but ... Moreover, where would the services draw the line? It's like their saying that a $15 coin is worth slabbing for $15, but a $14 dollar coin isn't worth slabbing?

EVP

Dog97

They should grade anything we send them because that's what they get paid to do.

gmarguli

I'd be very offended if a grading company told me that my coins weren't worthy of grading. It'd probably be the last coin I ever submitted to that service.

However, I wouldn't mind them calling me and saying "Are you sure you want this AU58 Ike dollar slabbed", especially when I was shooting for MS65.

braddick

I appreciate everyones opinion (so far!) on this, and in all honesty, I'm on the fence (as I would fall victim with most of my submittals!), but when I see a spotted, 1974-S PR64CAM Kennedy in a PCGS holder it taints PCGS, ever so slightly.

Most companies fight hard to have their products associated with just the right image. They spend a vast amount of PR dollars on securing their place in the consumers minds. (Just look at Nike, or Coke or ANY successful large business to see this is true!)

I also believe PCGS has the right NOT to grade a coin at their own descretion. It's YOUR coin but it's THEIR Company name that is surrounding it- endorsing it, if you will!
PCGS should not have to endorse every coin just because the submitter wants them to. Many businesses have learned to turn away unwanted business. PCGS and NGC haven't.
Having a coin graded by PCGS or NGC is NOT our "right" just because we pay the fee.

supercoin

when I see a spotted, 1974-S PR64CAM Kennedy in a PCGS holder it taints PCGS, ever so slightly.

But not as much as spotted fingerprinted PR64CAM Kennedys in PCGS... PR69DCAM holders. If I were PCGS I'd worry about those first. Slab every hunk of junk that comes in at the correct (low) grade and use the money for buybacks of mistakes.

Besides, here's an example of a low-grade Ike that I knew was low-grade and still wanted slabbed.

goyankeez

I think PCGS should grade and slab every "slabbable" coin that people submit. Even if it might be a $2 coin. PCGS "grades" coins, it doesn't sell them. I would be more upset to find a $100,000 coin in a PCGS holder that is overgraded; than a cheap $5 coin in a PCGS holder that is correctly graded. The former does more to taint the image of PCGS.

People have all types of reasons for submitting coins to get slabbed; as already pointed out. PCGS will be doing a great disservice to the collecting community by not accepting these coins. For credibility and desire, and overall consumer appeal, PCGS needs to grade coins consistently. It doesn't matter which coins.

Just my opinion.

tjkillian

I agree, PCGS should slab anything submitted to them. If I send them a common 1958-D Wheat Cent in XF, they should slab it as so, regardless of whether it is a $0.02 coin or not. That is what they get paid to do.

Tom

silverandvinyl

Dog97: I agree with you 100%.I guess it depends on who you are.I sent my 1798/97 bust dime in for grading and it came back in a coffin.On June 30th there was a 1796 guarter graded by Pcgs as an Pcgs02.This coin was worned through out.The only part of the coin that was readable was Liberty and the date.It had scratches all over obverse and reverse.My dime looks 10 times better than this coin.I then sent it out to PCI and it came back VF20.Even with that I think it's better than a VF20.I slabbed it because I wanted to preserve it.Money had nothing to do with it.I've had coins slabbed that were worth less the coins value.

RLinn

Braddick raises an interesting question as it relates to the grading company's image. Does PCGS want to be know as the slabber of really ugly stuff? Obviously, the answer is yes, because as many have stated, they are earning grading fees, not building beautiful coin collections. A corollary might be, should a carwash turn down cars that will still be ugly even after they are washed?

JLW

<< <i> A corollary might be, should a carwash turn down cars that will still be ugly even after they are washed? >>


Great analogy, RLinn! Wouldn't last very long in business if that were the case.
Joe

clw54

I'd think that if PCGS were to refuse coins that might hurt their reputation, they'd refuse P01s before MS-62s.