Glut of NGC coins?

cdmead

Today we got an email at the Evil Empire asking why there seems to be a glut of NGC coins (as opposed to PCGS coins) available in Internet auctions. I thought about this awhile and wasn't able to really give an good answer since my recent experience with coins is a bit limited to the billion or so in the FUN auction.

So I pose the question to you, the good people of PCGS land. Is there a glut of NGC coins as opposed to PCGS coins on the market? And if so, why?

I came up with two possible reasons for a scarcity of PCGS coins (if there indeed is one).

1) Collectors perceive PCGS coins are "better" than NGC coins, so the coins are bought and taken off the market rather than being resold by dealers.

2) Submitters have been submitting more to NGC since there is a perceived lack of consistency in PCGS grading, thus creating a large supply of NGC coins.

Any other thoughts?

Charlie

agfox

Some folks just don't like those white inserts ( not nameing names *whistle*) and don't buy em often

BigD5

I think more people are using ngc as opposed to pcgs, and hence more ngc coins in the market. I know locally, most dealers have switched to submitting to ngc......the one's with whom I have spoken with anyway.
I don't know about terming this a "glut" though.

greghansen

EBAY currently lists just over 89,000 lots in the category U.S. Coins. A basic search of that category using pcgs* as a seach parameter returned 9,473 hits. A similar search using ngc* as the search returned 6,189 hits. I've never compared the results of this type of search before, so I can't address how that compares to the historical ratio. Doesn't seem to add much evidence to the notion of an 'NGC glut' in my eyes.

Bulldog

Greg,

Unscientifically, You have said it all!

Bulldog

eagle7

Greg is absolutely right about EBAY. One thing about EBAY ive noticed is that NGC coins sell for a lot less over there than they do at the large auction houses who handle them. Also most of the PCGS and NGC coins on EBAY are BIN churns by the cam and gold dealers with super high prices. Take a look at Heritage. Their weekly internet auctions are ten to one NGC and the Signature and Bullet are about two or three to one NGC over PCGS. Lot more PCGS gold coins in the recent Sig auction though, guess because gold is much more stable at higher prices now. I rarely sell NGC coins on EBAY but sell them on Heritage and the price is much better over there. If I have any PCGS coins I want to sell I put them on EBAY. I have noticed this difference for the last year at least.

gmarguli

Today we got an email at the Evil Empire asking why there seems to be a glut of NGC coins (as opposed to PCGS coins) available in Internet auctions.

Evil Empire? You should know that Microsoft protects its copyrights very seriously and they'll go after Heritage for this.


As for your response to the email, perhaps it should have been: "We sell coins, not slabs you stupid registry moron. Buy the coin, not the slab"


A few thoughts as to why it is POSSIBLE there are more NGC coins than PCGS coins on the market.

1) NGC slabs more coins than PCGS. Therefore there is a bigger supply.

2) Later date NGC coins have been gaining in value. Is this due to the registry? More coins coming on to the marketplace because of higher prices (supply/demand).

3) 20% crossover rates. PCGS was unwilling to take NGC coins off the market for years. NGC was willing to take PCGS coins off the market at a rate of about 50%. Do the math.

4) NGC is more willing to give nicely toned coins a higher grade. With the ever increasing prices for toned coins, it is only natural to see many come on the market - perhaps giving the illusion of more PCGS than NGC coins. For what it is worth, they have been a fair amount of toned NGC coins coming on the market recently. However, those have been in OLD slabs.

5) PCGS can't grade consistently, so instead of PCGS coins in the marketplace, they are busy waiting in line to get regarded a 6th time in order to get graded accurately.

tradedollarnut

PCGS can't grade consistently, so instead of PCGS coins in the marketplace, they are busy waiting in line to get regarded a 6th time in order to get graded accurately.

ROTFLMAO! Greg, you crack me up!

A few months back, dealer after dealer was complaining that they couldn't get their coins in the right holder and they couldn't afford to sell them. The quality of the coin was such that the marketplace valued the coin higher than the grade on the holder, but prices weren't adjusting. Slowly, that's changing. Prices have been adjusting upward for high quality coins and DH has stated that he would look into the crossover percentage (I don't know the results of that).

michael

well lets assume you are right and there is a glut of ngc coins

who cares!!!!!!!!!!!!!!!!!!!!!!!!!

i am only going to pick out the superb fantastic eye appealling coins that are appealling to me ngc/pcgs and the rest i could care, less pcgs/ngc

be it pcgs ngc or xyz holder or raw

as long as the coin in the holder sings and talks to me and has in my opinion exceptional eye appeal and is a rare coin like it is based on my knowledge and what i feel then to me i do not care what holder it is in!!

and if the coin happens to be in a pcgs/ngc holder well a plus!! and if in an undergraded holder that is also underpriced well plus plus

sincerely michael

to simply sum it up if i love the coin and i feel it is excpetional ,monster and a great value!! then that is all that matters to me be it in a ngc/pcgs and i leave the rest of the "stuff" on the table

and to sum it up even further if i love the coin then that is all that matters to me weather it is a pcgs/ngc holder and all the rest of the millions of pcgs ngc slabbed coins i do not like i pass on