Have you guys read the coinage article about NGC making generic slabs?

TheLiberator

It said that on one of those coin shows there were NGC slabs with common uncirculated crap in them labled as "brilliant uncirculated." Have you guys heard of that? This allowed the price of these 30 dollar coins to go to 95 bucks. I think generic grading like that is a BAD idea. To me, the words BU were EXACTLY what we wee trying to get away from!

What do you think?

JrGMan2004

To me, BU implies MS65 or up...

coinguy89

You do make a point. I just stay away from them. I really don't care for those types and I haven't seen a problem with people selling them, cause most don't sell, except on Coin Vault.

Russ

NGC has been producing slabs labeled BU for Morgans for quite some time.



<< <i>To me, BU implies MS65 or up... >>



That would be "gem" BU. BU is anything from MS60 on up.

Russ, NCNE

FatMan

<< <i>To me, BU implies MS65 or up... >>

That would be Gem BU

Hadleydog

Have been for quite some time. Lot's of the Binion coins in BU slabs. I seem to recall seeing coins from the conservation group (NCS?) labeled simply as genuine.

coppercoins

BU - Brilliant Uncirculated: Any coin exhibiting original mint luster that has no wear.

Often divided into separate categories - this is the part where people differ, and that's okay. The terms I have often seen (only some of which I agree with) are as follows:

BU = MS60-61
Select BU = MS62-63
GEM BU = MS64-65
Superlative GEM BU = MS66-68

I don't know what the general term is for 69-70 coins.

Conder101

All or almost all of the adjective graded NGC slabs (both regular and Binion) were made for sale on the TV programs.

Cladiator

I have seen Coin Vault as recently as last night pushing these coins. They are not Binion coins (although they did the same thing with some of the Binion hoard). The NGC label is slightly different thant the normal label....they call it their proprietary label, whatever. They have coins slabbed up as non-number specific "Brilliant Uncirculated" and "About Uncirculated". They say they can sell them at a lower price because they negotiated a lower grading fee from NGC to do this. NGC supposedly grades them with 1 grader and 1 finalizer instead of the 4 graders as usual thus lowering Coin Vaults overhead. Which is curios because they are still amazingly overpriced. The whole the is high on the cheese-factor if you ask me.

Edited to add: IMO - This reflects badly on NGC

MORGANHUNTER2

At 2:00 a.m this morning Coin Vault had NGC slabbed coin set of morgans in Almost Uncirculated- the viewing was stupendous- and yes the holder did say Almost Uncirculated.

Russ

<< <i>I don't know what the general term is for 69-70 coins. >>



It's not a term, it's a symbol:

$

Russ, NCNE

solid

Here's my breakdown of BU terminology:

BU = MS60-62
Choice BU = MS63-64
Gem BU = MS65-66
Superb Gem BU = MS67+

Ken

SilverDollarMan

<< <i>I have seen Coin Vault as recently as last night pushing these coins. They are not Binion coins (although they did the same thing with some of the Binion hoard). The NGC label is slightly different thant the normal label....they call it their proprietary label, whatever. They have coins slabbed up as non-number specific "Brilliant Uncirculated" and "About Uncirculated". They say they can sell them at a lower price because they negotiated a lower grading fee from NGC to do this. NGC supposedly grades them with 1 grader and 1 finalizer instead of the 4 graders as usual thus lowering Coin Vaults overhead. Which is curios because they are still amazingly overpriced. The whole the is high on the cheese-factor if you ask me.

Edited to add: IMO - This reflects badly on NGC >>



Totally agree w/ this!
btw The Binion Silver has 3 Cowboys on the green NGC label.

IrishMike

Nothing new here the slabs have been around for awhile. NGC is company in business for a profit and hopefully some of us work for companies that seek to make a profit too. There is nothing high and mighty about any slabbing company, witness the slabbing of death coins, etc. Some of your high horses are figments of your imaginations.

ccex

<< <i>Here's my breakdown of BU terminology:

BU = MS60-62
Choice BU = MS63-64
Gem BU = MS65-66
Superb Gem BU = MS67+

Ken >>



I agree, Ken. This is what Coin World states advertisers should use as adjectives relating to uncirculated coins as well. They haven't changed this nomenclature since at least 1987.

I've also come across "select BU" on raw coins advertised in print, meaning AU 50 to 58. Usually, the more pages the advertiser buys in the publication, the lower the grade. If the same advertisers say "borderline uncirculated", you will be safe in assuming that what could be abbreviated "B.U." is a cleaned "select BU".

I haven't seen generic BU NGC slabs advertised in print yet.

michael

<< I don't know what the general term is for 69-70 coins. >>



It's not a term, it's a symbol:

$

Russ, NCNE
===================================================================


also to me BU just as a listed BU means to me beat up

michael

Conder101

<< <i>btw The Binion Silver has 3 Cowboys on the green NGC label. >>


So do the Nevada Silver Hoard coins. (These are not for the same hoard as the Binion coins but the use the sale label style. The only difference is the bottom line on the border of the label. The three possibilities are NevadaSilverCollection.com, Binion Silver Hoard, and BinionCollection.com.)