In the last 2 weeks (HRH please read!)
MadMarty
Posts: 16,697 ✭✭✭
I have sent:
96 Moderns
30 Pre-1964 coin
To NGC for grading, and nothing to PCGS. Let's do the math.
96 coins X $12/per coin=$1152
30 coins X $16/per coin=$480
Total PCGS lost out on=$1632
NCG Price is 126 coins X $11/per coin=$1386
Total I saved in grading fees $246, plus all coins will be turned around in less than 30 days!
I don't know if HRH just doesn't care about these little amounts, but they will add up. David, you need to do something about economy turn around time! In April PCGS had a price increase (It will help improve turn around times) we were told, well 2 months later think have not improved! David, I hate sending my coins to the Kingdom of Sleep, but until PCGS gets their act together you have lost another loyal customer!
96 Moderns
30 Pre-1964 coin
To NGC for grading, and nothing to PCGS. Let's do the math.
96 coins X $12/per coin=$1152
30 coins X $16/per coin=$480
Total PCGS lost out on=$1632
NCG Price is 126 coins X $11/per coin=$1386
Total I saved in grading fees $246, plus all coins will be turned around in less than 30 days!
I don't know if HRH just doesn't care about these little amounts, but they will add up. David, you need to do something about economy turn around time! In April PCGS had a price increase (It will help improve turn around times) we were told, well 2 months later think have not improved! David, I hate sending my coins to the Kingdom of Sleep, but until PCGS gets their act together you have lost another loyal customer!
It is not exactly cheating, I prefer to consider it creative problem solving!!!
0
Comments
The increase won't help turnaround times as much as the slow turnaround times will help correct the problem themselves (that made absolutely no sense). What I mean is, the slower PCGS gets with their turnaround times as compared to other services (especially the ones that are comparable in reputation but cost a bit less) the more collectors will switch to the other services. As the number of coins they grade declines, the quicker the turnaround time will be. Unfortunately, I assume they grade so many coins that this may take a long, long time to happen. In the end the big loser is going to be PCGS. The more time goes by, the more collectors will get disillusioned with their service and turn elsewhere.
Big Mike <><
Let your roots grow down into him and draw up nourishment from him, so you will grow in faith, strong and vigorous in the truth you were taught. Let your lives overflow with thanksgiving for all that he has done. --Colossians 2:7
<< <i> And all the while, others are getting their coins graded at the parties, while yours sit back at the shop. >>
To be fair, ksteelheder, walkthrough grading at a show costs a lot more than economy.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
If you took your vehicle to the shop for repairs and they shut down the shop to go to a car show to work on other peoples vehicles, would you not be pissed just a little?...Ken
And by the way, I had 2 coins in at PCGS last week for the 7 day thingy at $50 per, and they also had to wait!!!!!!!!!!
Edited to add, didn't mean to steal your last post, Marty, I type too slow.
<< <i>I had 2 coins in at PCGS last week for the 7 day thingy at $50 per, and they also had to wait!!!!!!!!!! >>
Ken,
You mean your submission that was received 05.28 and shipped 06.04, which is faster than the 7 business day guaranteed turnaround time? Hey, I'm just as ticked as anybody else about economy turnaround, but let's not be complaining about some other problem that doesn't exist.
Russ, NCNE
My point was and still is that when they do a party (show), everything sits. Thats all I was trying to say.
And, I still send all of my coins to PCGS. I just think they should try real hard to come up with something better. If they don't, they will suffer financially in the long run. Like the number of persons now submitting to other services. Thanks for listening...Ken
Looking for PCGS AU58 Washington's, 32-63.
You may want to go across the street and ask the folks, or go to their web site at NGC.
BTW, I am not here to solicit biz for NGC, nor is it my intent to take away biz from PCGS. I am merely answering a question posed by a fellow board member.
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
Your logic makes no sense, using your oil change analogy, if you owned an oil change biz and one person was using your economy service for $10.00 and the next person was using your super express service for $100.00 and they were both receiving the same labor and materials..........who do you think gets their oil changed first, gets the best service, and is a first priority?? It's like any other for profit business, the person paying the most money for the same service is given priority treatment.
When PCGS first opened their doors in 1986, there WAS no economy service, the least expensive service was the standard $30.00 regular service, and the turnaround time was over THREE MONTHS if I remember correctly, and they had about an 80,000 coin backlog.
dragon
tgilliams, Your statement makes no sense either, PCI, NTC, and ACG gets quite a few submissions also, how would you rate their credibility and collectability?? A grading services credibility is not necessarilly based on how many submissions they get or their turaround times, but rather the markets acceptance of their product vs. their peers, and PCGS is STILL number 1 in the industry and always has been regardless of all the complainers.
dragon
...
Here is another anology to think about. Just think how long it would take you to get the oil and filter changed in your car or truck if your garage started doing all of their work according to how much money they would make on each transaction. If a couple of people had engine or transmission repairs done, then you would be up the creek....Ken ...Now, this is my statement in its entirety.
Where, I ask, do you see mention of an oil change service? Now, I ask, who is making sense here. Maybe you need to take your time while reading so that you can comprehend what you are reading....Ken
ksteelheader, Isn't this you who just made reference to an oil change service in this thread and is that not an exact quote of your above post???
I agree with GaCoinGuy & MadMarty- The bottle neck has got to be the State Quarters & the SAE's. I'm obviously not the owner of a
coin grading company, but I think it's safe to say that between the State Quarters & SAE's there should be enough income to pay for
graders dedicated just to them. Maybe the trouble is finding people that want to be & are qualified to be graders?
Great transactions with oih82w8, JasonGaming, Moose1913.
Here is another anology to think about. Just think how long it would take you to get the oil and filter changed in your car or truck if your garage started doing all of their work according to how much money they would make on each transaction. If a couple of people had engine or transmission repairs done, then you would be up the creek....Ken ...
Sir, if you are going to quote me, use the WHOLE quote, not just the portion that pleases you.....Ken
<< <i>If you could grade 5000 coins at $8 each, or 15 coins at $16 each. It is more profitable to grade the bulk orders first >>
Actually it is more profitable to grade the $16 coins first.
If you grade the $16 coins first it takes 7.5 minutes, you can then bill for the $240 and you have delayed the billing of the $40,000 for the 5,000 by 7.5 minutes or effectively not at all. If you grade the 5,000 coins first those first 7.5 minutes are only worth $120 dollars and you don't get to bill for them for 5.2 days. Plus it also delays the billing of the $240 for the $16 coins by 5.2 days as well. Ineither case you will have earned the same money after 5.2 days but by doing the $16 coins first you get the money a little faster (Plus get the coins back to their owners sooner without delaying the bulk lot submitter.). Plus if during the 5.2 days you get in up to 51 other groups of 15 $16 coins, they can be bumped to the head of the line, graded and billed without delaying the payment for the 5,000 coin bulk lot until day 7 while adding another $12,288 in fees.
In Lincolns for example, I have rarely ,if ever, seen a suspiciously red coin in a PCGS slab. I don't think it's true for any other
company.
We'll use our hands and hearts and if we must we'll use our heads.
Think I said it too strongly. NGC will never gain the full respectabily of PCGS. PCGS will always be #1. But I think some (small part) of the price disparity, most genuine, will decrease because collector's are sending coins that should have been in PCGS holders are now in NGC holders. Same coins-same quality, now NGC coins. If this goes on for an elongated period, there must be an affect. Collector's will be buying same quality coins in NGC holders and paying less. The reference to PCI, NTC is ridicious.
<< <i>Here is another anology to think about. Just think how long it would take you to get the oil and filter changed in your car or truck if your garage started doing all of their work according to how much money they would make on each transaction. If a couple of people had engine or transmission repairs done, then you would be up the creek....Ken >>
I own my own auto repair shop and yes big money jobs and the big customers( car dealers+ fleets) get priority treatment because this is where the money is and I will delay oil changes if needed because oil changes don't really make me money. Maybe PCGS views economy service the same way I view an oil change?
ElectricEye, they work one shift and David Hall said a while ago that quality graders were hard to find and I believe they are scarce. mike
<< <i>Same coins-same quality, now NGC coins. If this goes on for an elongated period, there must be an affect. Collector's will be buying same quality coins in NGC holders and paying less. >>
SHHHHH! We certainly don't want to spread this around too much! After all, it would be a shame for people to discover they've been over-paying for PCGS plastic all this time, wouldn't it? What will happen when people start realizing that the plastic doesn't matter? That will be more of a blow to PCGS than anything else, and because of the things mentioned in this thread, and all of the other threads that addressed the same issues, it will come back and bite them is the a$$ eventually.
Andy
First POTD 9/19/05!!
Camelot