Every now and then I hear that the services "have tightned up"..........

SethChandler

Why does this occur? I can't imagine David Hall running into the grading room, ringing a bell, and screaming, hey boys lets tighten up for a little while.

airplanenut

<< <i>I can't imagine David Hall running into the grading room, ringing a bell, and screaming, hey boys lets tighten up for a little while. >>

He denies doing that in the Q&A forum... but I must say, I can imagine that... and it's pretty funny

Myqqy

This would also suggest that there are times when the command is given to "loosen things up"........

Elcontador

I don't know whether this is true. I believe that people who submit quite a bit at shows for quick turnaround speak with each other. When they say that the services have "tightened up," to me, that means more submitters than usual didn't receive the grades that they hoped to get.

OTOH, when more submitters do get the hoped-for grades, they say that the services have "loosened up."

To me, it could be the particular graders on a given day, or more likely it's the particular coins that are submitted.
I can't believe David Hall goes into the grading room and tells the graders, "guys, today, all submitters are S.O.L."

I often wonder how many PQ / liner coins are submitted, versus coins where someone prays to Allah or St. Jude for an upgrade and then submits them.

Coppernicus

One of the most perceptive comments made by Mr. Hall was in the Q&A Forum: "Ownership is worth a point." In other words, he who owns the coin thinks, on average, that it is one grade higher than it really is.

Also, at least in my specialty (Lincoln wheats), I think the grading guarantee gives PCGS some incentive to be very conservative on copper. Highly reactive/unstable metal that can turn in the holder, even when properly stored. The "67s" I submit invariably come back as "66s" - though there's that ownership factor...

Mike

Dismeguy

Has it ever been considered that the rotation of a new grader or finalizer employee might affect the grading for a period of time. We all assume that PCGS follows a consistent standard, but humans do work with a certain amount of variance and a new grader might be more conservative than one who has been at it for several years. Take the case of coins coming back in body bags. I would suspect a new employee to be more conservative with respect to AT.

Just my 10 cents...

Dismeguy

Conder101

<< <i>One of the most perceptive comments made by Mr. Hall was in the Q&A Forum: "Ownership is worth a point." In other words, he who owns the coin thinks, on average, that it is one grade higher than it really is. >>


Of course the other side of that is that not owning it is worth a 1 point deduction, and since PCGS doesn't own any coins. . . .

Russ

<< <i>We all assume that PCGS follows a consistent standard >>



Who's we?

Russ, NCNE

100proof1957

"Tightener up Boys "

I have no doubt !

Myqqy

We all assume that PCGS follows a consistent standard

Who's we?

Exactly.....

Barry

<< <i> I can't imagine David Hall running into the grading room, ringing a bell, and screaming, hey boys lets tighten up for a little while. >>


Why not? What better way to guarantee another round of submissions and grading fees. Grading fees - that's what feeds the bottom line and the shareholders' desires.

Don't forget, there are a finite number of gradeable coins (not counting moderns, but that's another discussion) and most of them have already been graded.

majorbigtime

<< <i>

<< <i> I can't imagine David Hall running into the grading room, ringing a bell, and screaming, hey boys lets tighten up for a little while. >>


Why not? What better way to guarantee another round of submissions and grading fees. Grading fees - that's what feeds the bottom line and the shareholders' desires.

Don't forget, there are a finite number of gradeable coins (not counting moderns, but that's another discussion) and most of them have already been graded. >>



The finite number has merit, but what happens to the regrade flow when most coins have maxed-out?
Like Sgnt. Schultz, "I regrade nothing". Many of my coins repose in 1st generation holders and might upgrade, but "they are what they are".

BillJones

Historically the services have "tightened up" with a bull market started to go south. The theory among some dealers was that it was a way to cut down the supply when prices were falling to prevent them from falling faster.

I have noticed that certification grading has tended to get lose during boom periods, and tighten up when the slow downs came. Weather or not the "supply theory" is valid is subject to speculation.

greghansen

Historically the services have "tightened up" when a bull market started to go south. The theory among some dealers was that it was a way to cut down the supply when prices were falling to prevent them from falling faster.

I had not heard that one. It is certainly interesting conjecture. Sure to be a favorite amongst the conspiratorial circles. At least it has a modicum of rationality to justify its premise.

BAJJERFAN

<<"Has it ever been considered that the rotation of a new grader or finalizer employee might affect the grading for a period of time. We all assume that PCGS follows a consistent standard, but humans do work with a certain amount of variance and a new grader might be more conservative than one who has been at it for several years. Take the case of coins coming back in body bags. I would suspect a new employee to be more conservative with respect to AT.">>

Based on the old saw "eat chit, a million flies can't be wrong" I believe that PCGS employs at least 3 graders plus a finalizer for most coins so its hard to believe one new grader can skew the results THAT much. I would agree that its more likely the stuff that is being submitted. Now you have more collectors submitting on their own instead of going thru dealers and the perception/reality that PCGS is the king of the hill means that more and more collectors are submitting on their own; many hoping for a good grade or an upgrade. Would be interesting to see how many submitters PCGS had 5 years ago vs today.