This stuff gets so technical and crazy it almost takes the fun out of collecting.
Wherever there is money to be made there is someone trying to scam the public. Here, it seems like we may be getting it from both sides...if the "policing" cost gets put back on the shoulders of collectors and collectors have coins that have been doctored that are now nearly worthless.
I think too much is being read into David Hall's comment without analyzing it's actual content.
David says that 20-40% of all toned coins are AT and immediately everyone jumps to conclusions that he's referring to slabbed coins, or much less, slabbed coins by NGC and PCGS. If you take a look at the proportion of coins that are slabbed by those two companies versus the proportion of coins slabbed by other companies, you begin to see that indeed David may be underestimating.
Just as an example, I just looked on EBAY's US coin category and there were 88,691 entries in the category. Of those, 10,920 are PCGS (I realize some people just put PCGS in their text to attract attention) and 7,193 are NGC. Let's just say that this is a random snapshot of the population of coins out there. This means that only 20.9% of all collectible coins out there are certified by PCGS or NGC. If that's the case, I would venture to say that David is probably on the low end on his estimate of how many coins have been dinked with.
What Karl asks however is a whole different kettle of fish - of that 20.9% graded by NGC and PCGS what percentage is AT? I would venture to say that David would not even try to give a guess at that - due to legal and financial ramifications. But more importantly I would venture to guess that if he said +/- 3%, that would be a lot. (For anyone who follows polling, and correct me if I'm wrong, 3% is usually the normal margin of error in any given random poll).
So kids, by all means - do send your toned coins to GSAGUY, and do buy your umbrellas from ANACONDA if you wish - as for me, I'll keep my toned 78CC
Comments
Wherever there is money to be made there is someone trying to scam the public. Here, it seems like we may be getting it from both sides...if the "policing" cost gets put back on the shoulders of collectors and collectors have coins that have been doctored that are now nearly worthless.
AHH and just as I was starting my toned set!
Dan
David says that 20-40% of all toned coins are AT and immediately everyone jumps to conclusions that he's referring to slabbed coins, or much less, slabbed coins by NGC and PCGS. If you take a look at the proportion of coins that are slabbed by those two companies versus the proportion of coins slabbed by other companies, you begin to see that indeed David may be underestimating.
Just as an example, I just looked on EBAY's US coin category and there were 88,691 entries in the category. Of those, 10,920 are PCGS (I realize some people just put PCGS in their text to attract attention) and 7,193 are NGC. Let's just say that this is a random snapshot of the population of coins out there. This means that only 20.9% of all collectible coins out there are certified by PCGS or NGC. If that's the case, I would venture to say that David is probably on the low end on his estimate of how many coins have been dinked with.
What Karl asks however is a whole different kettle of fish - of that 20.9% graded by NGC and PCGS what percentage is AT? I would venture to say that David would not even try to give a guess at that - due to legal and financial ramifications. But more importantly I would venture to guess that if he said +/- 3%, that would be a lot. (For anyone who follows polling, and correct me if I'm wrong, 3% is usually the normal margin of error in any given random poll).
So kids, by all means - do send your toned coins to GSAGUY, and do buy your umbrellas from ANACONDA if you wish - as for me, I'll keep my toned 78CC
Frank
The Ludlow Brilliant Collection (1938-64)