"It's More Than Just A Piece Of Plastic"
foodude
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FYI, just in case you missed this recent posted on the PCGS home page.link
Here's the text:
It's More Than Just a Piece of Plastic
Ron Guth - December 21, 2004
One of the many innovations that the Professional Coin Grading Service (PCGS) brought to third-party certification back in 1986 was the use of a hard-plastic case to encapsulate individual coins. This "slab" (as it became known) is made of a specially-formed, hard acrylic plastic that resists breakage and protects the coin within. In a sense, the slab is a visible, tangible force field that keeps both the coin and the customer safe and secure. But, as you'll soon find out, it's more than just a piece of plastic.
Now that PCGS has been serving the numismatic community for almost two decades, it's easy to forget the Wild West mentality of previous years, when grading was extremely subjective and inconsistent, and the favorite catchphrase was "caveat emptor" ("buyer beware"). Coin grading has been an important part of American collecting since the hobby first began in the early 1800's. However, grading standards were loosely defined and loosely applied. Even when two people could agree on a grade, there was no way to transfer it to a third party without starting the whole process over. In other words, no one would believe the grade of a coin until they verified it for themselves.
The plastic slab was an elegant step in the evolution of grading, offering the following benefits:
Permanence: the plastic slab, essentially inert and basically indestructible, offers a near-perfect solution for long-term storage. Assuming the slab is never opened, the grade and the coin are forever linked together.
Safety: high-grade coins (especially Proof coins) are vulnerable to damage from handling and from the environment. Slabs keep out the vast majority of harmful chemicals and moisture. The coins can be displayed and handled easily, with none of the risks associated with the handling of "raw" coins.
Protection: not just for the coin, but for the consumer, as well. If you've ever tried to crack open a PCGS slab, you know how difficult it can be. The sturdiness of the plastic slab means that the coin is protected well and that any tampering efforts will be thwarted or become immediately apparent.
Security: each coin certified by PCGS receives a unique identifying number shown on the insert that accompanies each coin in the slab. This number can (and has been) used to protect the integrity of the PCGS system. Anti-counterfeiting measures built into the plastic slab ensure that the grade and the coin are properly matched and preserved.
Functionality: the special, interlocking design of the plastic PCGS slab allows for stable stacking. Despite its thickness and strength, the clean plastic of the holder offers a clear view of the coin within. A number of different storage solutions exist to satisfy the needs of most collectors.
Credibility: the world-class graders at PCGS determine and assign a grade that enjoys wide acceptance within the collecting community. Potential buyers familiar with PCGS grading standards have a "minds-eye" view of what a coin should look like at a particular grade level. Because of the high level of acceptance, the grade becomes truly portable from one party of a transaction to another.
Confidence: combined together, the factors listed above, plus others, result in a high level of confidence between buyers and sellers. Confidence leads to increased demand and faster sales at higher prices.
All of this is possible thanks to the innovation of the plastic slab. Which is why we like to say, "It's more than just a piece of plastic."
Ron Guth is the Director of Numismatic Research for the Professional Coin Grading Service (PCGS). He has been active as a coin collector, dealer, writer and auctioneer since his introduction to numismatics in 1964
Here's the text:
It's More Than Just a Piece of Plastic
Ron Guth - December 21, 2004
One of the many innovations that the Professional Coin Grading Service (PCGS) brought to third-party certification back in 1986 was the use of a hard-plastic case to encapsulate individual coins. This "slab" (as it became known) is made of a specially-formed, hard acrylic plastic that resists breakage and protects the coin within. In a sense, the slab is a visible, tangible force field that keeps both the coin and the customer safe and secure. But, as you'll soon find out, it's more than just a piece of plastic.
Now that PCGS has been serving the numismatic community for almost two decades, it's easy to forget the Wild West mentality of previous years, when grading was extremely subjective and inconsistent, and the favorite catchphrase was "caveat emptor" ("buyer beware"). Coin grading has been an important part of American collecting since the hobby first began in the early 1800's. However, grading standards were loosely defined and loosely applied. Even when two people could agree on a grade, there was no way to transfer it to a third party without starting the whole process over. In other words, no one would believe the grade of a coin until they verified it for themselves.
The plastic slab was an elegant step in the evolution of grading, offering the following benefits:
Permanence: the plastic slab, essentially inert and basically indestructible, offers a near-perfect solution for long-term storage. Assuming the slab is never opened, the grade and the coin are forever linked together.
Safety: high-grade coins (especially Proof coins) are vulnerable to damage from handling and from the environment. Slabs keep out the vast majority of harmful chemicals and moisture. The coins can be displayed and handled easily, with none of the risks associated with the handling of "raw" coins.
Protection: not just for the coin, but for the consumer, as well. If you've ever tried to crack open a PCGS slab, you know how difficult it can be. The sturdiness of the plastic slab means that the coin is protected well and that any tampering efforts will be thwarted or become immediately apparent.
Security: each coin certified by PCGS receives a unique identifying number shown on the insert that accompanies each coin in the slab. This number can (and has been) used to protect the integrity of the PCGS system. Anti-counterfeiting measures built into the plastic slab ensure that the grade and the coin are properly matched and preserved.
Functionality: the special, interlocking design of the plastic PCGS slab allows for stable stacking. Despite its thickness and strength, the clean plastic of the holder offers a clear view of the coin within. A number of different storage solutions exist to satisfy the needs of most collectors.
Credibility: the world-class graders at PCGS determine and assign a grade that enjoys wide acceptance within the collecting community. Potential buyers familiar with PCGS grading standards have a "minds-eye" view of what a coin should look like at a particular grade level. Because of the high level of acceptance, the grade becomes truly portable from one party of a transaction to another.
Confidence: combined together, the factors listed above, plus others, result in a high level of confidence between buyers and sellers. Confidence leads to increased demand and faster sales at higher prices.
All of this is possible thanks to the innovation of the plastic slab. Which is why we like to say, "It's more than just a piece of plastic."
Ron Guth is the Director of Numismatic Research for the Professional Coin Grading Service (PCGS). He has been active as a coin collector, dealer, writer and auctioneer since his introduction to numismatics in 1964
Greg Allen Coins, LLC Show Schedule: https://forums.collectors.com/discussion/573044/our-show-schedule-updated-10-2-16 Authorized dealer for NGC, PCGS, CAC, and QA. Member of PNG, RTT (Founding Platinum Member), FUN, MSNS, and NCBA (formerly ICTA); Life Member of ANA and CSNS. NCBA Board member. "GA3" on CCE.
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