Can Anyone Explain This To Me?

wondercoin

Are these statements consistent with each other?

STATEMENT #1: ISSUED RECENTLY BY PCGS: Crossover rate for the past 12 months: 22,748 submitted, 6,087 crossed, which is 26%.

Of course, I personally assume most of those coins were NGC slabbed coins.

STATEMENT #2: ISSUED BY RICK MONTGOMERY TODAY: "NGC has defined itself as the recognized standard in numismatic certification for collectors and dealers, and I look forward to contributing to that continued success".

Are these mutually exclusive statements, or is there an inconsistency within these (2) statements? Can anyone explain this to me?

Wondercoin.

KoinKollector

<<Of course, I personally assume most of those coins were NGC slabbed coins.>>

Dont assume. We just dont know what the make up of thoes crossovers were. For all we know could have been 85% ACG.

IrishMike

Well, wondercoin PCGS calls itself the standard in the industry and NGC calls itself the recognized standard, what that has to do with crossovers, well maybe you should explain that to me. Both are marketing statements and since when does a marketing statement have to be consistent with anything?

shirohniichan

Are these mutually exclusive statements, or is there an inconsistency within these (2) statements? Can anyone explain this to me?

Even if they were all NGC slabs, one possibility was that PCGS was only 26% accurate.

dpoole

There are only two possible explanations:

1. Rick is wrong;

2. PCGS isn't crossing coins that they should be crossing.

I'm not altogether ready to buy #1, but #2 kinda fits my experience.

MAULUMALL

Absolutely correct KoinK

Pushkin

Inquiring minds want to know: What is the crossover rate from PCGS to ACG?

kieferscoins

NGC article being reffered to

Cameron Kiefer

DMWJR

Mitch, my initial thought was "what does the 26% include?" If you go by my crossover submissions alone, that 26% represents "cross at any grade."

tradedollarnut

How can they be mutually exclusive statements? What does a crossover rate have to do with being the recognized standard in numismatics?

If greysheet is $1,000 for an MS65, $2,000 for an MS66 and a PCGS MS65 example sells for $1,750 aren't the grade and the value mutually exclusive?

There is no doubt that for the most part (aside from the obvious inconsistencies) that PCGS coins are harder to make. But that does NOT define excellence in a coin grading company! Consistent grading to a market standard is what defines excellence. Compare prices realized to sheet. PCGS has lost touch with the market. Yes, there is no doubt that PCGS standards are very tight right now - but they are not consistent with the market.

vam44

I`m stymied....

Perhaps that Homerunhall dude can explain it.

dragon

On statement # 1

Isn't it already common knowledge that the crossover game is a big joke? How many of you have submitted NGC coins for crossover and they didn't cross (even numerous times),,,,,then you crack them out, submit them raw to PCGS, and they come back the same grade or even higher? How many of you have cracked and submitted really PQ pieces back to PCGS and have them come back downgraded?

I just recently broke out a superb PQ PCGS MS66PL dollar and sent it back in looking for an MS67PL,,,,,,,the coin just came back an MS64 and no PL, hows that for ya?

On statement # 2

Clearly, NGC is not the industrys standard, PCGS graded coins consistently sell for more money grade for grade, and are more marketable than NGC coins in nearly every scenario. While some say that NGC is quickly closing the gap and have great customer service and all,,,,,,,the fact still remains that PCGS coins GENERALLY bring more money coin for coin and grade for grade at any major show, auction, private sale, etc. That's a fact that nobody can honestly deny.

I would say however that those two statements could be mutually exclusive, just because company A doesn't cross many coins over from company B or C would not NECESSARILY make them the industry standard.

Dragon

MAULUMALL

I just recently broke out a superb PQ PCGS MS66PL dollar and sent it back in looking for an MS67PL,,,,,,,the coin just came back an MS64 and no PL, hows that for ya?



THAT is brutal!



EDITED TO ADD, I hope they gave you the courtesy of a reach around

wondercoin

"What does a crossover rate have to do with being the recognized standard in numismatics?"

TDN: That is essentially my question. There are many possible answers. One I know you might embrace might be that PCGS should have been crossing a heck of a lot more NGC coins this past year. There are other interpretations no doubt, some expressed here already. Wondercoin.

IrishMike

Greg sometimes you crack me up.

fcloud

I find it interesting. Really when you think about it shouldn't coins grade the same from one company to the other. PCGS seems tougher than NGC, but are they? Or is it perception? Why does a PCGS 70 coin sell for more than a NCG or whatever company. It should be interesting to see what happens with Rick over at NGC. Maybe they will tighten there standards or maybe PCGS will loosen theirs. It really does come down to what the buyer wants. If a coin in which is unique the value would be in the coin no matter which holder it is parked in. Some of this common stuff with high grades is over valued no matter who's holder it is in. I have seen it here many time "buy the coin not the holder." As far as the marketing stuff--these lines are created for marketing their products, and competition is a good thing for the consumers.

Tony

dragon

Regarding my previous post, here is a pic of that 1881-S I referred to. I paid $470.00 for it as it's the nicest 66PL I've seen, and I own over 22 66PL coins, now, according to PCGS, it's a $35.00 coin.

Dragon

1881-S

Placid

I will give you $50 for it Dragon

relayer

MAULUMALL
now, according to PCGS, it's a $35.00 coin.

Just think how happy you'll be once it returns to a MS66PL in a NGC holder.