Geez! This place is on fire! I have never sent any coins to PCGS. The price is a bit high for 5-10 seconds of grading and then being put in a piece of plastic. And to join you pay a pretty big amout also. If I wanted to send coins in i would go with NGC which almost pays for itself in free gradings. The way things are going with PCGS they may not be "#1" for very long. 50 days to get coins graded! If I send one coin in to get it in my reg it would cost me a nice bit of money and 50 days, thats over a month and a half to get it shiped out looked at for 5 seconds put in plastic and sent back.
How long before the economy and modern tiers get a price boost?
Given the fact that NGC is already cheaper for these coins if you are a member and the fact that NGC coins are bringin strong prices inline with those of PCGS, I would say not soon. However, if there is some master plan to kick CLCT down to 10¢ a share then we could see price increases.
Greg- I buy and sell quite a few coins and other than generic gold can think of very few examples where NGC coins trade at the same levels as PCGS coins. The only case I could see you attempt to make in 20th century coins would be to quote the high auction prices realized for NGC MS68 Washington quarters. The problem with that argument would be that no PCGS Washington's have traded recently that you could compare with.
I sent in a 55/55 Lincoln cent that I cracked out of a pcgs ms 64 red holder at FUN fOR POSSIBLE upgrade As I had already waited 21 days,I called customer service.I was told my account would be credited and the coin would be graded for free.An e-mail was sent to the grading room.The next day I got an e-mail that the coin was graded ms 63 red !!!!!!!! This is total B.S.........As I have no other alternative because I believe that PCGS is THE GRADING SERVICE........I called Hep Daddy Hall and proceeded with THE WHINING SERVICE....to be continued
However, if there is some master plan to kick CLCT down to 10¢ a share then we could see price increases
Greg: I have to disagree. If they do nothing, at a loss of $1.5M per quarter they'll be down to 10 cents per share in a few years anyway. If they do nothing, they'll lose submittors due to long turn around times. If they add a grader, they will lose more money as the grader's salary and benefits will not make up for the marginal profits derived from simply reducing backlog. If they raise prices to bring demand in line with capacity, they add no overhead and increase margin. The additional revenue from each coin goes straight to the bottom line.
More companies go broke from pricing themselves too low than ever go broke from pricing themselves too high. If they are losing money and demand outstrips capacity, raising prices slightly is a viable and often overlooked alternative. It's somewhat irrelevant what NGC's pricing structure is - for instance, if PCGS is already higher and they can't keep up with demand doesn't that refute your argument that being higher in price will kill the demand for their services?
I have no problems whatsoever with the turn around time at PCGS... I haven't submitted a coin to them in well over 2 years! If a service is doing wrong by me, I may complain a bit. But, ultimately, I'll stop complaining and just let my wallet do the talking.
"If they add a grader, they will lose more money as the grader's salary and benefits will not make up for the marginal profits derived from simply reducing backlog"
TDN: I disagree. Actually, if they hire the RIGHT grader, submission levels might skyrocket even above these very high levels, as dealers and collectors get a good feeling that PCGS has hired a SOLIDLY CONSISTENT grader and boost their submissions. Let's wait for the announcement Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
Here's some free market research data for ya Mr. Hall and all. I chose to become a member of PCGS because of the very apparent difference between prices of PCGS slabbed coins versus EVERYONE else. This is consistent throughout the internet auctions I'm familiar with. Knowing I will get top price for the grade is worth the wait. It's shooting yourself in the foot to send to a lesser grader just for speed. Planning is a lost virtue
Never doubt that a small group of determned people can change the world, indeed it is the only thing that ever has. - Margaret Mead
Well. . .I was about to sent out another 43 coins PCGS, but after this. . .I don't think so. Granted, this was an econ submission and loss of my one order only amounts to $645, but I wonder how many other people are shipping their coins to NGC or ANACS because of the problems at PCGS?
Who knows. .. maybe I'll actually like how NGC treats me and they'll end up with all my business.
Yes, Mitch, they've hired a good grader. But I stand by my financial assertions. DH has been stating regularly that they've been having record months. I don't see how submissions can "skyrocket" beyond what they already are - short of some changes in crossover philosophy.
<< <i>Here's some free market research data for ya Mr. Hall and all. I chose to become a member of PCGS because of the very apparent difference between prices of PCGS slabbed coins versus EVERYONE else. This is consistent throughout the internet auctions I'm familiar with. Knowing I will get top price for the grade is worth the wait. It's shooting yourself in the foot to send to a lesser grader just for speed. Planning is a lost virtue >>
If you a collector that is one thing. But many of us buy, grade, and sell coins for income, i.e. business. I can not afford to have my investment tied up for months.
I don't know what series you specialize in, but I can tell you the disparity between PCGS and NGC Morgan Dollars is shrinking fast. It simply is not worth the small percentage extra PCGS coins bring to have thousands of dollars worth of my coins lingering at PCGS for two and a half months, which is the time that 45 business days amounts to when you add a week each way in the mail.
Comments
Given the fact that NGC is already cheaper for these coins if you are a member and the fact that NGC coins are bringin strong prices inline with those of PCGS, I would say not soon. However, if there is some master plan to kick CLCT down to 10¢ a share then we could see price increases.
I sent in a 55/55 Lincoln cent that I cracked out of a pcgs ms 64 red holder at FUN fOR POSSIBLE upgrade As I had already waited 21 days,I called customer service.I was told my account would be credited and the coin would be graded for free.An e-mail was sent to the grading room.The next day I got an e-mail that the coin was graded ms 63 red !!!!!!!!
This is total B.S.........As I have no other alternative because I believe that PCGS is THE GRADING SERVICE........I called Hep Daddy Hall and proceeded with THE WHINING SERVICE....to be continued
stewart
Greg: I have to disagree. If they do nothing, at a loss of $1.5M per quarter they'll be down to 10 cents per share in a few years anyway. If they do nothing, they'll lose submittors due to long turn around times. If they add a grader, they will lose more money as the grader's salary and benefits will not make up for the marginal profits derived from simply reducing backlog. If they raise prices to bring demand in line with capacity, they add no overhead and increase margin. The additional revenue from each coin goes straight to the bottom line.
More companies go broke from pricing themselves too low than ever go broke from pricing themselves too high. If they are losing money and demand outstrips capacity, raising prices slightly is a viable and often overlooked alternative. It's somewhat irrelevant what NGC's pricing structure is - for instance, if PCGS is already higher and they can't keep up with demand doesn't that refute your argument that being higher in price will kill the demand for their services?
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
TDN: I disagree. Actually, if they hire the RIGHT grader, submission levels might skyrocket even above these very high levels, as dealers and collectors get a good feeling that PCGS has hired a SOLIDLY CONSISTENT grader and boost their submissions. Let's wait for the announcement
See, PCGS is improving before your eyes.
Now, if we can just come to an agreement about invoice #9001538. I bet none of that 50-60,000 coin backlogs are good enough for a replacement?!?!?!?
Who knows. .. maybe I'll actually like how NGC treats me and they'll end up with all my business.
<< <i>Here's some free market research data for ya Mr. Hall and all. I chose to become a member of PCGS because of the very apparent difference between prices of PCGS slabbed coins versus EVERYONE else. This is consistent throughout the internet auctions I'm familiar with. Knowing I will get top price for the grade is worth the wait. It's shooting yourself in the foot to send to a lesser grader just for speed. Planning is a lost virtue
If you a collector that is one thing. But many of us buy, grade, and sell coins for income, i.e. business. I can not afford to have my investment tied up for months.
I don't know what series you specialize in, but I can tell you the disparity between PCGS and NGC Morgan Dollars is shrinking fast. It simply is not worth the small percentage extra PCGS coins bring to have thousands of dollars worth of my coins lingering at PCGS for two and a half months, which is the time that 45 business days amounts to when you add a week each way in the mail.