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What if PCGS/NGC went out of business next month?

TarmacTarmac Posts: 394 ✭
in U.S. Coin Forum
What would happen to "rarities" like the 2006 First strike Buffalo PR70?

Or other similar plastic holdered 'rare' coins where hundreds if not thousands exist in high grade?

Would people rush out to cross their PCGS/NGC slabs to the new grader? Would the new grader be as accepted? Or would PCGS slabs become rarer given the fact they were not going to be made anymore?

Any thoughts?

Comments

  • PerryHallPerryHall Posts: 46,612 ✭✭✭✭✭
    About as likely as the earth getting hit by an asteroid and blowing up.image

    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

  • TootawlTootawl Posts: 5,877 ✭✭✭
    What if PCGS/NGC went out of business next month?
    I would be praying that they send me the coins I just submitted to them.
    PCGS Currency: HOF 2013, Best Low Ball Set 2009-2014, 2016, 2018. Appreciation Award 2015, Best Showcase 2018, Numerous others.
  • TarmacTarmac Posts: 394 ✭
    About as likely as the earth getting hit by an asteroid and blowing up.

    The asteroid or the earth?

    Is it that far fetched? If resubmissions ever dropped substantially and people finally recognized they don't need a 2005 PCGS MS68 Quarter to be slabbed we could be looking at end game.

    Every idea from laser marking coins to computer grading them would be a threat to the current PCGS business model. Let's face it, the crackouts for higher grades and parade of freshly minted coins sent in for slabbing is what keeps them going.
  • BearBear Posts: 18,953 ✭✭✭
    If there is a need, then someone will

    eventually fill that need.
    There once was a place called
    Camelotimage
  • seateddimeseateddime Posts: 6,180 ✭✭✭
    anacs would be top dog
    I seldom check PM's but do check emails often jason@seated.org

    Buying top quality Seated Dimes in Gem BU and Proof.

    Buying great coins - monster eye appeal only.
  • JRoccoJRocco Posts: 14,277 ✭✭✭✭✭
    There would be an explosion of Rolaids and Tums sales, panic in the streets and that sinking feeling of---"I'm going to have to get a life" from a few errrr... collectors...
    Some coins are just plain "Interesting"
  • onlyroosiesonlyroosies Posts: 3,307 ✭✭✭✭
    The pops wouldn't go up any more.
  • BAJJERFANBAJJERFAN Posts: 31,207 ✭✭✭✭✭
    Well I expect they would still be the top dogs for some time to come as long as the coins were left in the holders. Maybe one of the lowers would take over. Or if a new company started it would depend on the reputation of the folks startin it.
    theknowitalltroll;
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,472 ✭✭✭✭✭
    the US MINT would start housing newly minted coins in GSA holders as MS70 and sell them at a premium to unsuspecting collectors who believe everything they read.
  • LincolnCentManLincolnCentMan Posts: 5,347 ✭✭✭✭
    ANACS would have a lot of business.

    David
    Lincolncentman Toned Lincolns
  • airplanenutairplanenut Posts: 22,335 ✭✭✭✭✭


    << <i>What if PCGS/NGC went out of business next month?
    I would be praying that they send me the coins I just submitted to them. >>

    Just what I was thinking
    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • michaelmichael Posts: 9,524 ✭✭✭
    you would have coins in flips and cointains and airtights cardboard two by twos capital plastic holders those amos press slab holders sold by coin world

    i like the coin world slab holders and also the airtights
  • ABC123ABC123 Posts: 2,627
    Don't kid yourself---there is alway someone ready, willing and able to pick-up-the-slack ! ----Spectrum
  • darktonedarktone Posts: 8,437 ✭✭✭
    Who knows ten years from now slabbed coins may be a thing of the past. All you really need is a few scandals and for the bottom to drop out of the market and for the people that are paying big $$'s for certified pocket change to give up.
  • Conder101Conder101 Posts: 10,536 ✭


    << <i>About as likely as the earth getting hit by an asteroid and blowing up. >>


    Are you so sure? Take a look at the stocks that make up the Dow index. These are "blue chip" stocks of important powerful well managed companies. Companiesthat are SOLID and should be around forever. How many of the original Dow Index companies were still in business a little over 100 years later? One. This country has been around for over two hundred and twenty years. Most businesses out there have been around less than sixty years. PCGS has only been around for twenty.
  • PerryHallPerryHall Posts: 46,612 ✭✭✭✭✭
    Conder---read the question. He said "next month". Very, very, very unlikely.

    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

  • Conder101Conder101 Posts: 10,536 ✭
    Your right, next month IS very unlikely. I did miss that part of the question. But chances are very good that they WILL go out of business eventually.
  • DHeathDHeath Posts: 8,472 ✭✭✭
    I think a more pertinant question is what happens if the TPG's DON'T go out of business.
    Developing theory is what we are meant to do as academic researchers
    and it sets us apart from practitioners and consultants. Gregor
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    About as likely as the earth getting hit by an asteroid and blowing up.

    as in that other thread last week, it's not surprising that many think such a thing won't happen, what's surprising is that so many assume it can't happen.
  • PerryHallPerryHall Posts: 46,612 ✭✭✭✭✭


    << <i>Your right, next month IS very unlikely. I did miss that part of the question. But chances are very good that they WILL go out of business eventually. >>



    If they go out of business, it will most likely be because someone came along with a better product such as computer grading which actually works and which gives repeatable results.




    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

  • sweetwillietsweetwilliet Posts: 2,315 ✭✭✭
    Heh, heh, my "prediction" from that other thread is brought back to life. There are always those that will panic at the slightest thing. IF the earth ever gets hit by a huge asteroid and blows up, who cares?? We won't be here to see it happen.
    Listen. Strange women lying in ponds distributing swords is no basis for a system of government. Supreme executive power derives from a mandate from the masses, not from some farcical aquatic ceremony.
    Will’sProoflikes

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