Goodbye Registry
tradedollarnut
Posts: 20,162 ✭✭✭✭✭
I have just finished deleting my sets from the PCGS Set Registry. I won't be part of supporting what's going on.
PCGS can grade to whatever standard they like - that's their right. But to suddenly shift and throw the market into a turmoil is manipulation that I won't be a part of. And to bold face state it isn't happening when every knowledgeable grader can see it with their own eyes just takes the cake.
I am truly concerned that one day the grade on the trade dollars in the PCGS holders I own won't be respected by the marketplace. If standards change so much that the MS65's I paid PQ money for are seen as MS64's, I will lose all confidence in the brand. I suspect that I'm not alone.
What I want in a grading company is consistency. I want the grade to match the quality of the coin on the current grade scale and the value to match the price sheet. I don't want a coin undergraded to market by two points that costs me double sheet and then if something happens to me my heirs get 30 cents on the dollar. I don't want to have to play russian roulette and guess the price I should be paying to within +/- 50%. I want a company that will tell me like it is - and that what they say matches what I know to be true thru other sources.
If PCGS has an agenda, come out and say it. Tell us how those of us that have purchased coins previously will be protected. Tell us how the thousands of coins milling around the bourse floor and in auction that don't meet the standards anymore will be removed from the marketplace. Tell us the truth!
I am concerned enough about this to put many of my coins on the market. Legend will be selling off some of my rarities and other choice pieces. Part of the duty of PCGS (and any other reputable grading company) is to instill confidence in the marketplace. Sadly, I do not have that confidence any more.
PCGS can grade to whatever standard they like - that's their right. But to suddenly shift and throw the market into a turmoil is manipulation that I won't be a part of. And to bold face state it isn't happening when every knowledgeable grader can see it with their own eyes just takes the cake.
I am truly concerned that one day the grade on the trade dollars in the PCGS holders I own won't be respected by the marketplace. If standards change so much that the MS65's I paid PQ money for are seen as MS64's, I will lose all confidence in the brand. I suspect that I'm not alone.
What I want in a grading company is consistency. I want the grade to match the quality of the coin on the current grade scale and the value to match the price sheet. I don't want a coin undergraded to market by two points that costs me double sheet and then if something happens to me my heirs get 30 cents on the dollar. I don't want to have to play russian roulette and guess the price I should be paying to within +/- 50%. I want a company that will tell me like it is - and that what they say matches what I know to be true thru other sources.
If PCGS has an agenda, come out and say it. Tell us how those of us that have purchased coins previously will be protected. Tell us how the thousands of coins milling around the bourse floor and in auction that don't meet the standards anymore will be removed from the marketplace. Tell us the truth!
I am concerned enough about this to put many of my coins on the market. Legend will be selling off some of my rarities and other choice pieces. Part of the duty of PCGS (and any other reputable grading company) is to instill confidence in the marketplace. Sadly, I do not have that confidence any more.
0
Comments
We love you T--------H------------I-------------------S Much
the little bear would miss you. Sniff...........sniff.......sob.
Camelot
I hate it when you see my post before I can edit the spelling.
Always looking for nice type coins
my local dealer
I've seen pics of your Trade Dollars. You're going to be safe, but there are many out there who might not be.
No one disrespects your 1885 Trade Dollar because the "#1 grading service" says it isn't up to par.
am concerned enough about this to put many of my coins on the market. Legend will be selling off some of my rarities and other choice pieces. Part of the duty of PCGS (and any other reputable grading company) is to instill confidence in the marketplace. Sadly, I do not have that confidence any more.
Consider letting that "other service" have a look at your stuff. Some of your best stuff is already there, why not let a service take a stand that they recognize coins in other holders are nice too.
With that said, I would say that's a pretty bold move, the TDN/Legend connection aside.
I give the man credit for putting up, as opposed to senselessly whinning about the wrongs without taking action.
dragon
my hope is that you work constructively towards whatever your personal goals in the hobby are. please don't let your present bitterness sour what you bring to the table. edification, that's what you have to offer. step up to the plate after some contemplation and begin your task.
details at 11.
al h.
You and I go way back (you know....when we collected coins!). I have to tell you that I'm thinking about doing the same thing. I know that its my decision and I march to my own drummer. But, for the same reasons that you mentioned, I have been considering pulling my coins as well. The tough part of this is that your collection, Cardinal's, etc. are THE world class collections that benchmark these series and I will miss the access of top levels of the dates for reference. Are you going to pull them off across the street as well?
As a private observation, I thing our other mutual friend (in Washington) may have been ahead of the curve on this one.
keoj