Origins of Third Party Grading Services Question
anablep
Posts: 5,157 ✭✭✭✭✭
I was just reading this post authored by Tyrock and looking at the prices of a common date Morgan in 65 got me wondering. Did TPG services start slabbing coins because of the high "value" of coins (silver & gold really) to protect "investments" or did the grading companies begin due to other factors? Or a combination of many factors? Or was this process of slabbing bound to happen eventually even if the price of metal didn't rise to those levels?
Sorry if this is a common knowledge question, but I don't know the answer.
Sorry if this is a common knowledge question, but I don't know the answer.
Always looking for attractive rim toned Morgan and Peace dollars in PCGS or (older) ANA/ANACS holders!
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
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Comments
<< <i>At least part of the explanation was to keep the novice from being screwed by overgrading, cleaning, tooling, counterfeitting, or altered dates when buying raw coins. When certified and slabbed coins came on the scene at least one had the guarantee of the slabber [if the slabber had one] about authenticity and a professional estimate of grade on his side; in other words the slab offereed the buyer an added "measure of protection" against fraud. As we all know slabs can reduce your risk of getting took but they don't eliminate it. >>
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It worked, but maybe not like we thought it would: millions of dollars poured into the market, which in part made the market skyrocket. But it also created bottom feeding TGPs that helped fools and $$ part.
If you bought a ton of Atari stock back in the day, and held it, you'd probably be in a world of hurt today. Same with MS65 Morgans.
But maybe if you bought Microsoft, or a ton of PCGS rattler slab MS early copper or colonials, you'd be in great shape.
--Severian the Lame
<< <i> There are lots of factors. But one was the promise of a commodities-like trading, where coins, which had always been subjectively graded, could finally be traded across town or around the world on a sight-unseen basis like stocks and bonds. This was the era of Wall Street, where "Greed is Good". We wanted coins to be the next big thing. >>
Maybe at first we wanted coins to be the next big thing.
Perhaps what smoe really want today is the grader's opinion of our coins to be the next big thing. Witness those playing the crackout game today...
I don't know how the star designation on NGC holders protects anyone or ensures the proper grade. I know one should buy the coin and not the holder, but doesn't the slabbing industry negate that motto to some extent?
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
the slabbing services are basically investor pricing services
not good or bad just the way it is
the reason why there is such a grinding and nashing of teeth on here from submissions abd the im[atience of waiting is that the submitters are not happy with the way the services have priced their coins
most all already know the grades of their coins they send it and prep them for maximum exposure
they want them quickly priced and returned toot sweet
when the services do not price them the way the submitters wanted and then return them faster than a speeding bullet many are quite upset
hurts their bottom line selling to all the sheep
in price