If PCGS Offered "$1,000.00 Five Minute" Sprint-Thru Service...

braddick · July 30, 2004 5:22AM

It would seem, at some of the larger shows, PCGS could offer Five Minute Grading Service for those who simply can't or won't wait. The Graders would be hidding directly behind a curtain that is positioned close to the PCGS submission booth. They would secretly be handed your coin(s) through a slit installed in the curtain (so as not to give up the identy of the Graders). You would have your coin(s) back, within five minutes (if it goes to six minutes or longer you get one free economy grading coupon...) in fresh, PCGS plastic.

Would this work?

Dennis88 · July 30, 2004 5:30AM

Nice idea, but not at that price....

Dennis

goose3 · July 30, 2004 5:30AM

yes, there would be people that would use that. I'd just about bet on it.

airplanenut · July 30, 2004 5:32AM

I doubt they could get it done in 5 minutes... since they can't have the slabbing machine there, and they don't really have room for graders.

30 minutes might work.

Jeremy

braddick · July 30, 2004 5:35AM

<< I doubt they could get it done in 5 minutes... since they can't have the slabbing machine there, and they don't really have room for graders. 30 minutes might work. Jeremy >>

Jeremy, it's a large curtain, and a portable slabbing device is on hand.

PCGS could also discount a bit. Submit NINE coins and the TENTH is free*.

*The Guarantee is FIVE MINUTES PER COIN. So, a Ten Coin order would take 50 minutes. (Got to be fair about this.)

Placid · July 30, 2004 5:45AM

I would use it to get my 2004 keelboat nickel graded.

coppercoins · July 30, 2004 5:46AM

A thousand bucks is ludicrous for a plastic holder regardless of the amount of time it takes. I could see $100, maybe $150 working.

braddick · July 30, 2004 5:52AM

Ok, so far that's one vote "YES", and one vote, "NO".

BigE · July 30, 2004 6:04AM

It probably would work out, but PCGS better have an ambulance and the police standing by

-----------------BigE

RYK · July 30, 2004 6:10AM

How about $250 and 25 minutes?
$500 and 12.5 minutes?
$100 and same day?

majorbigtime · July 30, 2004 6:15AM

Shortly after PCGS was formed, they offered a free, one coin, walk-through service as a promotion at a Long Beach coin show. As I recall, the process took about 30 minutes.

mozeppa · July 30, 2004 6:41AM

heck yeah!

i got a whole roll of 64 lincoln cents that might all grade out at 63 or 64!......where do i sign up?

MrEureka · July 30, 2004 7:41AM

I know someone that might buy that coin. Mind if I show him? I'll be back in ten minutes.

ziggy29 · July 30, 2004 7:47AM

If you were at a major show, and you had a *very* expensive raw coin (think well into five figures), and you had a potential buyer for a coin who might be interested but who preferred the security of certified coins, I could easily see them willing to buy the coin if it slabbed at the stated grade (the buyer, of course, would pay the slabbing fees in this case). Probably not an extremely common occurrence, as I'd imagine most coins like that are slabbed by now unless they've been in closely held collections for decades, but it could happen. If I'm willing to pay $40,000 for a coin, for example, I'd pay a few hundred to have it PCGS graded as long as I could back out of the sale if it didn't make the grade.

airplanenut · July 30, 2004 9:58AM

<< Jeremy, it's a large curtain, and a portable slabbing device is on hand. >>

Pat--I don't think there's enough room behind the table... they're usually pretty cramped without a curtain...

LincolnCentMan · July 30, 2004 10:03AM

Four a thousand dollars, I'd want to pick the grade.... No wait... that's Another Coin Grader... and I think that out fit might be a little cheaper.

I dont have many $1000 coins... and who wouldnt be willing to wait five or six hours to save $900?

David

SPEEDracer · July 30, 2004 11:40AM

I'm just curious...and i'm not even close to understanding the entire grading process, but doesn't the coin get graded by three different graders to find the grade? And if so, would you want to pay $1000 to have each grader only spend 1 minute and 40 seconds looking your coin over? IMHO, I would rather wait the 30 minutes and get an accurate grading. I doubt that PCGS will give a high rating MS68-70 for a coin that they have only looked at for 5 minutes. You could be cheating yourself out of a higher grade just because you wanted to use the express lane.

Just my opinion...like I said...I don't know the grading process...so no butt chewings will commense after I post this. OK?

jdimmick · July 30, 2004 12:52PM

If I were at a show and I was looking to buy a high 5 figure or 6 figure coin that was raw, and the dealer was going to let me walk it thru under a 30 minute service to see if it would holder. 1k would be an insignificant amount to pay for peace of mind for that value of a coin, and I would be first in line!

jim

ms70 · July 30, 2004 1:03PM

No. Because I could never afford a coin of the value that would warrant that expenditure.

I think the bigger issue with the slabbing machine is noise. I think I remember hearing that those things are really loud?

airplanenut · July 30, 2004 1:17PM

<< I'm just curious...and i'm not even close to understanding the entire grading process, but doesn't the coin get graded by three different graders to find the grade? And if so, would you want to pay $1000 to have each grader only spend 1 minute and 40 seconds looking your coin over? IMHO, I would rather wait the 30 minutes and get an accurate grading. I doubt that PCGS will give a high rating MS68-70 for a coin that they have only looked at for 5 minutes >>

FYI, graders look at the average coin for probably around 10-20 seconds... 20 for the hard ones.

SPEEDracer · July 30, 2004 2:56PM

<< 

<< I'm just curious...and i'm not even close to understanding the entire grading process, but doesn't the coin get graded by three different graders to find the grade? And if so, would you want to pay $1000 to have each grader only spend 1 minute and 40 seconds looking your coin over? IMHO, I would rather wait the 30 minutes and get an accurate grading. I doubt that PCGS will give a high rating MS68-70 for a coin that they have only looked at for 5 minutes

>>

FYI, graders look at the average coin for probably around 10-20 seconds... 20 for the hard ones. >>

Holy crap! That is fast. Is this why smoe people send their coins back to be regraded? I would think that it would take longer, but I guess if you grade coins for years, then it should be pretty easy...huh?

airplanenut · July 30, 2004 3:07PM

<< Holy crap! That is fast. Is this why smoe people send their coins back to be regraded? I would think that it would take longer, but I guess if you grade coins for years, then it should be pretty easy...huh? >>

When you've seen tons of coins, it's a quick process... by the end of my grading class earlier this month, I was within 1 point or right on about 85% of the time--half the coins only got a few seconds per side... a few coins got up to 30 seconds per side.

Jeremy

RegistryCoin · July 30, 2004 3:20PM

In the large scheme of things, I assume that one point up or down is no biggie. That's why I collect 70s now. At least I am not at risk for half of the "give and take".

SPEEDracer · July 31, 2004 1:21AM

Thanks for your input!

majorbigtime · July 31, 2004 1:31AM

<< 

<< Jeremy, it's a large curtain, and a portable slabbing device is on hand. >>

Pat--I don't think there's enough room behind the table... they're usually pretty cramped without a curtain... >>

It's a misnomer to thinK that large, expensive equipment is required to "sonically seal" a slab. I've seen the process, and it's low tech and does not involve large or expensive equipment.

ARCO · July 31, 2004 3:18AM

Sure it would work. the price point would be the big question. Getting an extra point on certain coins can be worth thousands more and being able to find an undergraded coin, submit it, get it slabbed and flip it for big profit right at a big coin show would definitely be of interest to customers of PCGS or NGC.

Say $150-$300.00 might be reasonable. One caveat might be a discount down to $75 if the coin won't holder or if the submitter elects to only have the coin holdered if it qualifies for a certain grade.

It sure would make the slabbing "game" a bit more lucrative.

Tyler

majorbigtime · July 31, 2004 8:43AM

I believe PCGS just started offering a "show special" 1 hour slabbing for $200.

As for me, I'm not in a rush and prefer economy "slow boat" service.

airplanenut · July 31, 2004 8:53AM

<< As for me, I'm not in a rush and prefer economy "slow boat" service. >>

And a slow boat it is!

kyleknap · July 31, 2004 10:10AM

<< I know someone that might buy that coin. Mind if I show him? I'll be back in ten minutes. >>

Exactly.

I think a "5 minute" service is a little over the top, but ya never know! An upgraded show service would be nice though, if they could promise the coins would be done in an hour or so.

Kyle

jdimmick · July 31, 2004 11:00AM

Slow is not the word for the economy service, I have one group in now, and will never do it again. Takes to long for re-sale purposes. Hel* by the time they come back, Ill have forgotten what they were to start with.

jim

airplanenut · July 31, 2004 11:14AM

<< Slow is not the word for the economy service, I have one group in now, and will never do it again. Takes to long for re-sale purposes. Hel* by the time they come back, Ill have forgotten what they were to start with. >>

Or the coin market will have crashed

If PCGS Offered "$1,000.00 Five Minute" Sprint-Thru Service...

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If PCGS Offered &quot;$1,000.00 Five Minute&quot; Sprint-Thru Service...

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If PCGS Offered "$1,000.00 Five Minute" Sprint-Thru Service...