My thoughts on the grading services and Lincoln cents...[edited]

coppercoins

I thought I would share all I can come up with off the top of my head regarding the Lincoln cent and third party grading. This synopsis comes from years of experience examining graded Lincoln cents. This thread is intended to give people a chance to hear what I have to say about the TPGs and Lincolns once and for all. It is not intended as a flame thread in any way, just my 100% accurately honest opinion.

The areas I break down into for ranking the services:

There are six areas that I think are important in looking at TPGs for your specific needs. I have come up with pretty accurate definitions of different areas people might want to consider when picking a TPG for their needs, then I have ranked them in order of completeness, accuracy, or ease of use according to how I see them with regard to Lincoln cents ONLY.

1. Customer Service: How does the company rate in helping their customers, to include timeliness of service, willingness to work with the customer to give them (within reason) what they want, and the expense of their service compared to the quality received for that expense.

2. Grading circ coins: How accurate and consistent is their grading of circulated coins? I believe in this area accuracy is an absolute must, consistency follows suit but isn't quite as important here.

3. Grading BU coins: Again, how accurate and consistent are they, with consistency being far more important here.

4. Grading proof coins: Again, accuracy and consistency, this time both being equal. Proof coins are rather simple to grade, there shouldn't be any problems here.

5. Variety attribution: How well does the company work with the customer in attributing errors and varieties?

6. Counterfeit detection: How often would a fake get by the company? How well do they work with customers when fakes are discovered in their holders?

Now for my rankings - again, based on personal experience and opinion. Each area listed above is listed again, with the services listed thereafter from best to worst with a grade and matching narrative:

1. Customer Service: ANACS(a), ICG(a), NGC(c), PCGS(f) - ANACS leads the pack with customer service. Their inexpensive submission fees, friendly phone staff, and fast results (usually under a month) are the best in the industry. ICG is rather comparable from what I have heard, but I have never submitted to them, so I have to take other people's word for it. NGC has had problems in the past with timeliness, so I put them at a close third to the first two, which are basically neck and neck. PCGS gets a far worse mark because of their consistently inconsistent timeliness, extremely questionable rules for timeliness, and overall horrid customer relations when there are problems (which isn't all that common, but when they happen they are usually unresolved for quite a while).

2. Grading circ coins: PCGS(a), ANACS(a), ICG(b), NGC(b) - VERY rarely have I ever seen a misgraded circ coin in a PCGS holder. ANACS is second because I really like their policy for slabbing anything sent in, but net grading problem coins. I really dislike the policy of not slabbing anything with a problem. Any or all coins deserve homes to those willing to pay for it. ICG and NGC are even par with circ Lincolns...some are questionable, some are right on.

3. Grading BU coins: PCGS(a), ANACS(c), ICG(c), NGC(d) - Although all of the grading services have dispayed problems in this area, PCGS is generally the most consistent for grading BU cents. ANACS has always had trouble with higher grades, but they are generally right on with the color of the coin. ICG is actually quite good at lower end BU coins, but has trouble with high grade specimens. NGC is rather consistent in lower grades, but almost always overgrades higher end coins. Suffice to say, almost any coin graded by any of these services from 60-65 is rather accurate, and all of them have trouble above 65 with PCGS being the least problematic.

4. Grading proof coins: PCGS(a), NGC(a), ANACS(c), ICG(c) - All of the services tend to do well with proof coins, and all of them have the same problems in this area to differing degrees. None of them are consistent with each other regarding terminology or consistency regarding what is a CAM, DCAM (or heavy, or UCAM) coin, and what doesn't have cameo. PCGS is too picky, NGC and ICG are too loose. ANACS sways one way or the other from coin to coin and are inconsistent.

5. Variety attribution: ANACS(a), ICG(b), NGC(c), PCGS(d) - ANACS by very far has the best attribution service, followed by ICG. NGC tries, but has gotten a number of minor die varieties wrong in the past, as evidenced by the number of coins I have seen with incorrect die attribution on them. PCGS is way behind the rest of the pack with die varieties.

6. Counterfeit Detection: PCGS(a), ANACS(b), ICG(b), NGC(b) - None of the companies listed have much of a probelm with counterfeit detection, however PCGS has the best overall rating and guarantee. I split this area from attribution because they are both important areas that should be graded separately.

As the rankings work out, with each service receiving GPA points for each area (4 for a, 3 for b, 2 for c, 1 for d, and 0 for f), it turns out that my selection of services in order are: ANACS (21 points), PCGS (18 points), ICG (17 points), NGC (13 points). While PCGS may have the best market acceptance, I still see ANACS as the best for the money and service...by far I select ANACS for all coins because of their merits with regard to my taste and specialty.

coinbuf

Interesting, although I could not recomend ICG for cents. I bought a group to evaluate them myself and about six months later thay all developed spots.

Chris

DMWJR

Thanks for the insight.

I also think PCGS's color guarantee is important as well.

On the varieties issue, it's a tough one, with competing designations by different experts, and even then I have seen them change numbers on certain varieties. But I do agree with you that ANACS has the most experience and does the best job with them.

pharmer

Thanks for your observations, CD. I might note that on the accuracy of attribution issue, you can use the CONECA/ICG program which uses a special form, and the order goes first to a CONECA attributor, and then to ICG, which grades the coin and slabs it with a label which states the attributor's ID. I agree that ANACS is accurate in this regard.

coppercoins

I ended up splitting variety attribution and counterfeit detection since these areas are both of equal importance and are very different from one another.

Pharmer - that's nice if someone wants CONECA die numbers on their coins. ANACS works with all recognized systems and tries harder to give the collectors what they want. I spoke to the chief graders of both companies and was well accepted by ANACS (as was Billy Crawford and John Wexler), but ICG tends to stick with CONECA as "the leader" even though they are slipping in the rankings as having a good foothold on publishing their information.

coppercoins

TTT - just in case someone might have missed it and could benefit from the opinion.

kramer

<< <i>Interesting, although I could not recomend ICG for cents. I bought a group to evaluate them myself and about six months later thay all developed spots.

Chris >>



I thought with copper anything can happen quickly therefor I would recomend ICG.Of course I like all in the big four.

Coppernicus

<< <i>NGC is rather consistent in lower grades, but almost always overgrades higher end coins. >>



Chuck - this is SO TRUE!! Maybe 1 in 10 of their MS66RD Lincoln wheats are solid 66's. Mostly, they are solid 65's and do not cross at PCGS.

Mike

eagle7

Thank you for the info!

merz2

Chuck
As usual,I agree whole heartily with your take on the TPG's.Most of us copper collectors have seen this way to often.

LittleBitOEverything

Very interesting insight,and well thought out...good job!

JrGMan2004