How to PCGS graders get compensated?

SethChandler

Is it per coin? With a limit per day on how many they can grade. I would think that it is per coin.....but I got to believe that grading a Gem Proof Twenty requires different pay that a modern coin. Any ideas?

Stigmata

Hmm, I'm as clueless as you are really. I'm sure its just an hourly amount of money they make, but I'm sure they have to meet a certain # of coins that they are required to grade each week. Because if they were paid just by the number of coins they graded, I'm sure some lazy people would just give the coins any grade. But then on the other hand if they were just paid hourly, they could spend a whole week grading 5 coins. I never really thought about this before, just my opinion BTW, nice avatar

Russ

Salary plus bonuses based on body-bag count.

Russ, NCNE

Johnscoin

Advanced grading class asked this too...Too bad I forgot part of the answer...
I think they said that starting salary is $60,000 and it goes up substantially...
I believe they said they receive their base salary but can receive bonii (bonuses) (sp?) or something like that...
Hope this helps,
JB

quarterjack

Russ, Good One! I don't suppose you'll be submitting for awhile.

Dave

Stigmata

Beh, edit.

greghansen

I'm sure exact salaries are considered proprietary information...but I but some of our posters could get durned close to the real numbers if they wanted to. They may sign a confidentiality agreement when they leave, however, so I don't know if they could shed light on this even if they wanted to without risking personal exposure. I'd take a WAG and say those who are entrusted to grade the classic coins, start @ 70-80K topping out at 120-130K at the two main services. Wouldn't suprise me to see the grading companies getting away with paying 40-50K for some modern coin graders to start. I'd LOVE to know the answer to this or even for anyone in the know to tell me whether I'm WAY off base or not. Cheers.

kieferscoins

Today is Tuesday. As David Hall in the question and answer forum. He may answer it tonight.

Cameron Kiefer

Russ

<< <i> I don't suppose you'll be submitting for awhile. >>



quarterjack,

Actually, I have several submissions in right now. I heard the graders are suffering from a lot of holiday spending debt, so I'm trying to help them out.

Russ, NCNE

nwcs

Non-disclosure agreements are almost totally unenforcable. I think former graders would not mention salaries because it is the way our culture is. After all, would we want a thread here were everyone was honest about their actual yearly income for their job?

Pushkin

Compensation - no money - just the right to grade any of your own 10 coins a week - and no waiting - instant slabbing - "you grade'm"!

What a deal!

Oh well, its just a guess?

greghansen

Although in derogation of common law and thus strictly construed, no-compete and non-disclosure agreements are FAR from almost totally unenforceable. Florida, in particular, where NGC is now located, has a very vigorous non-compete statute that is utilized heavily by professional associations. I seriously doubt that ones salary would ever be considered by the courts to be a 'trade secret' subject to contractual protection, but in a very specialized employment setting such as professional coin grader, there's room for that argument.

coinguy1

In the early days of PCGS, (at least) some graders were compensated on a per-coin basis. That led to some speed grading contests and was certainly not conducive to careful, accurate grading.

I don't know the particulars at PCGS now days, but would bet that most , if not all of the compensation, is independent of the number of coins graded.

When I graded at NGC (1991-1998), our pay was NOT based upon the number of coins graded.