How many KEY DATE PCGS inserts do you have in your possesion?
saintguru
Posts: 7,724 ✭✭✭
SEND THEM IN...HUH?
The POP reports are starting to become crapola and that's a shame. They had the potential of being the ONLY objective tool in the coin universe.
Seriously...I wish the crack-out guys who we know have thousands of them would just send them in. THOUSANDS...think about that...KEY DATES...in KEY GRADES.
The POP reports are starting to become crapola and that's a shame. They had the potential of being the ONLY objective tool in the coin universe.
Seriously...I wish the crack-out guys who we know have thousands of them would just send them in. THOUSANDS...think about that...KEY DATES...in KEY GRADES.
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Ironic, huh?
EDITED to add: plus, they pay you 50¢ each for the inserts
Go BIG or GO HOME. ©Bill
<< <i>The POP reports are starting to become crapola >>
They have been crapoa for a long time and sending inserts in now ain't gonna fix them.
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
<< <i>
<< <i>The POP reports are starting to become crapola >>
They have been crapoa for a long time and sending inserts in now ain't gonna fix them. >>
Though not scientific by any stretch, a far better determination of relative rarity in my universe is the number of appearances of the issue in a Heritage auction when compared to other similar issues. This will get distorted when you compare different issues in different series (ie. it might make it look like 1927-D $20's are about as rare as 1850-D $5's), but within a series, it certainly gives you ballpark rarity (ie. comparing 50-D $5 with 61-D $5).
The name is LEE!
I recently bought a high grade coin that Heritage had only sold THREE (including mine!) since they started the archives 12 years ago!. Yet the POP says 16. I'd bet there are 6-8 coins.
<< <i>Too bad PCGS does not offer as reward to keep the integrity of the Pop Report. Say 10 or 20 inserts for a free grading?? >>
They did something similar a few months ago. They ( PCGS ) offered something like 50 cents an insert. If I remeber right, it was something like that. Don`t know if the offer is still active.
The hoarding of inserts is manipulative and has really soured me on the hobby as it relates to rare coins. What is really disgusting is how a handful of dealers and the crackout people [i wont call them 'artists' because there is no art involved] who are well known have dominated this activity. They have no interest in furthering the hobby, they would just as soon see it die IF they could make a big killing and move onto something else.
I will not name names but a major wholesaler who has been mentioned here in the past once showed me plastic shopping bag filled with bundles of inserts. He was trying to convince me of the rarity of a FE cent in 65 whose pop # had doubled, yes doubled, in just 18 months. I told him maybe someone had a hoard and was slowly releasing them onto the market and I would not pay a premium. That's when he pulled out his plastic bag.
He fished around the bundles and pulled out a wad thicker than a deck of cards. They were all NGC/PCGS inserts for that one year of FE's. There must have been over 70-80 inserts. I was stunned. He seemed very proud of his business of cracking out slabs for upgrades.
There is NO reason to hoard inserts other than to manipulate the market.
I am disappointed PCGS has not made any efforts to rectify the situation. They will be the ones hurt in the end as no one relies on their figures. We already know the guides are useless as well.
The only way that I can see around this is to start id'ing individual coins somehow, either by an inscription on the edge, photo matching, or ?? and then making this data available to all TPG's so that coins of value can be crossed checked.
Just some thoughts!
K