What happens to the value of your Registry Set...

Whitewashqtr

now that Rick Montgomery has left PCGS?

libnicks

What does this have to do with the value of coins?

Whitewashqtr

What planet are you on?

EVillageProwler

Libnicks,

WWQ asked a fair question because, right or wrong, the market places a premium on coins simply because of the slab. For some series and dates, the premium due to a slab can be astronomical. Consider a lovely modern Jefferson nickel. If it were raw, dealers would pay very little for it, if at all... If it got holdered at MS68, then that would be worth something.

Same coin, but you gotta get it slabbed. Crazy, I know. But, the market seems to want the protections afford from a reputable 3rd party service.

EVP

dbldie55

(Libnicks is the name I have my registry sets under, ended up registering with two email addresses as the system was screwed up back then, and the computer I am on here was still logged in as Libnicks, never intended to use it on these forums!)

I still do not know how this would have any effect on the value of the coins. Now if you collect coins that have a large portion of their value based on the plastic around the coin, that may be a different story.

oldcameoproofsguy

I do not believe that the credibility of the PCGS will change with Rick Montgomery's absence. I feel that no change will take place and that the PCGS will continue to be considered one of the most accurate and conservative grading companies.

Say for a moment that the PCGS became the new ACG from this event. My coins, IMO, are worth as much out of the holders as in; I really don't worry about this too much. As Michael always says "Only buy great coins." Great coins stand out and merit their value, holder or not.

Whitewashqtr

Dbldie

You cant argue that the PCGS slab holds a premium to coins in any other slab. That's why you collect PCGS slabbed coins. give me all of your PCGS coins at NGC prices and I'll make out very well as a coin dealer.


Yes...buy the coin, not the holder... blah, blah , blah.

But let me give you an example. There is an NGC 1944D MS67 quarter that sold on ebay for a buy price of $110 (other have sold for as much as $150). A PCGS 1944-D MS67 quarter which is up on eBay now has currently a high bid of $500 and will sell for more when the auction is done.

Would you say there is a premium on PCGS graded coins? I would!! This little exercise can be done with almost any Washington quarter (dont know about other series)

So there is the proof!!

dbldie55

Washington quarters are proof of Washington quarters! I actually collect coins in PCGS holders because I like the looks of their holders. I am going to continue to send all of my varieties to NGC because they will designate them.

I find it humerous that no one knows why Rick left, but many think the entire company will all but fold without him. (it may, but there is no reason to think so yet)

While you may worry about the value of your Washington quarters, I have no worries about the value of my Liberty Nickels.


(FWIW: The highest price paid for a Liberty Nickel was for a NGC graded one)

quattrocoins

"What planet are you on?"


"if you have nothing nice to say, say nothing".






































































Zipped lips, and

Whitewashqtr

See if Quattro agrees. He's as avid a Washington Quarter collector as they come. And a darn nice guy too!!

MoneyLA

There is NO question that PCGS slabbed coins carry a premium over other slabbed coins, and that is because of the reputation that pcgs has and the market favoring pcgs coins.

clearly there is a belief in the market that pcgs standards are higher and while NGC might be an honest and reputable firm, pcgs grading standards are offen stiffer. that might not be correct on pcgs' part, but thats the way it is. hence many ngc ms67 coins will only trade at pcgs ms66 prices, etc. like it or not, thats the way it is.

now, getting back to wwq's question:

if indeed there is a management shakeup, and the marketplace determines that the shakeup affects the standards and reputation of the company, there could be price differentials for "new" slabs vs "old" slabs. not possible you say? well think for a minute -- arent old, small pcgs slabbed coins worth more in the market because some collectors believe that pcgs had even higher grading standards way back when?

there is a risk to paying for slabbed coins, and the risk is in the market value of the slab.

cheers, alan mendelson

raycyca

Just because Rick is gone, everyone can and will be replaced. What is troublesome, is the fact that PCGS is in turmoil internally and has had some changes with more to come. What's that to do with value? Nothing today, but, everything tommorrow. Why? Because a lot of people rely on the grading because it's backed by the guarantee. What if PCGS is no more? Initially, there will be little change, but, as time goes on, people will lose some trust because there is no longer a money back/regrade guarantee and sales will probably slow and prices will drop. I could be wrong but that's my 2 cents. NGC holders are nicer and appear better sealed. I've been dissappointed with several PCGS submissions but satisfied with NGC in the last 2 years.

Fairlaneman

Superior products hold thier Value and the public realizes this. Heck even early "Almost Certainly Crap" coins are looked for by collectors. If the standards of PCGS go down the drain people will realize this and not give a premium, or even buy the coins, but still will seek the previous graded coins. Sure some short term loss may happen but in the long run the coins held now should be just fine.

I Hope. Then again maybe the loss of one person really is not that big of a deal and all will be just fine.

Ken

DAM

If the standards of PCGS go down the drain people will realize this and not give a premium, or even buy the coins, but still will seek the previous graded coins.

What a sad state of affairs to place so much emphisis on a piece of plastic. (For dealers and investors this isn't so bad.)

Has the market (us), or the Registry changed coin collectors into plastic collectors? I hope not. Having said that, I'm collecting plastic now (tryng to get the best coins I can inside it) to complete my Registry sets.

Look at some of the great "raw" collections, and the premium their coins carried. Those that realized premium prices did so because of their quality, and they continue to do so today.

As Michael always says "Only buy great coins." Great coins stand out and merit their value, holder or not.

Hmm... words to collect by, IMO.

EVillageProwler

If the market starts to significantly sour on PCGS, then the value of the coins remain unchanged. However, the premium associated with the slab will decrease.

That is, if you own a Cardinal-quality Early Dollar, it will retain the vast bulk of its value whether raw, slabbed by PCGS or in an Capital Plastics holder.

If, however, you're talking about a high grade 2000 SQ circulation strike...

If you buy by the plastic, then you die by the plastic. If you buy by the coin, then you die by the coin. I know in our hobby as it currently exists, you can't completely separate the plastic from the coin. But, I think you all get the gist of my message.

EVP

shirohniichan

If you buy by the plastic, then you die by the plastic. If you buy by the coin, then you die by the coin. I know in our hobby as it currently exists, you can't completely separate the plastic from the coin. But, I think you all get the gist of my message.

Yea, verily.

IrishMike

The cost difference between washingtons, at least mint state has often been laid at the feet of tighter grading standards at PCGS, my old untrained eyes might dispute this, but it doesn't account for that much of a difference in the example of the 44D. I would argue that the registry is the major cause for most of the disparity in pricing. There are far more CU registry participants chasing high grade moderns. The more demand the higher the cost, micro-economics 101. The registry has become a marketing success for PCGS, way beyond I think what their expectations might have been.

Typetone

It would be interesting to learn why Rick made the change. There is a lot of secrecy in the coin business, and we will never really be privy. My guess is that Rick's switch is like most switches in corporate America; more money, more responsibility, perks, a different boss, advancement opportunity etc. It's like a star spots figure changing teams. That's the free market and America. I would guess that PCGS will maintain standards. They might even be tighter for awhile just to prove stability with Rick's departure. On the other hand, some think they have been too tight under Rick. So, they might drop a bit to say NGC standards. Who really knows?

Greg

dpoole

The rumor I head is that Rick was getting too much responsibility for other stuff at PCGS, and missed coins.

FullSteps

Just avoid the mass exit from the PCGS registry by selling me your PCGS registry sets at NGC or ANACS prices now!!!

Seriously, does the value in the market place change due to a management change?? A top product sells itself as long as managers don't mess with or enhance the product and forget about those who buy the product.

Whitewashqtr

A top product sells itself as long as managers don't mess with or enhance the product and forget about those who buy the product.

That is the point. Uncertainty about what the "new" management will do. That is what has people nervous.

WWQ