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Interesting point about "no full time graders deal in coins for their own account"
Longacre
Posts: 16,717 ✭✭✭
I read the letter of the editor that Keith Love (of ICG fame) wrote in a recent issue of CW. He had an interesting comment. He indicated that some of the other TPGs employ not only full time graders, but also part time ones. He made a point that the other TPBs tout that their full time graders are not allowed to trade in rare coins. However, he stated that the part time graders are free to deal in coins with no restrictions. I never knew this. Does anyone think that this causes a conflict of interest? What problems can arise from a part time grader dealing in coins? Although the grader does not know who is submitting the coins, what is the risk that he would try to undergrade some coins if he happens to hold the pop tops of a certain series? Does the three grader process prevent this?
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
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<< <i>I believe that graders, no matter how honest and well intentioned, should either be full time or "no-time". >>
I agree 100%. Demonstrating the integrity of the system would be a heck of a lot easier than demonstrating the integrity of every single part-time grader...and integrity in the system is what collectors/investors want and need.
Highly likely, IMO.
-Amanda
I'm a YN working on a type set!
My Buffalo Nickel Website Home of the Quirky Buffaloes Collection!
Proud member of the CUFYNA
<< <i>So people who are professional graders are not allowed to collect coins anymore?
-Amanda >>
They are not allowed to buy, sell, or trade in order to avoid a conflict of interest.
really so what a full time grader doesnt deal in coins....if he/she is not honest he can easily have someone else do his bidding....
I believe most of the hanky panky that people think exists ...exists only in their minds....
I am speaking only about the top grading services....not the no name / off brands that sell their souls for a buck
It does not help ICG's cause when they claim that their graders do not sell coins when they have more pressing issues to deal with. The disparity of liquidty between ICG graded coins and PCGS and NGC graded coins immediately comes to mind.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
<< <i>The disparity of liquidty between ICG graded coins and PCGS and NGC graded coins immediately comes to mind. >>
And quickly accelerating even in the NGC/PCGS comparison.
<< <i>Negative Fantasies Abound---Alice in Wonderland >>
Am I the Mad Hatter or Alice?
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>What problems can arise from a part time grader dealing in coins? Although the grader does not know who is submitting the coins, >>
If the part time grader did some submissions he might be in the position of knowingly certifying his own coins (because he recognises his submission) and might even be in a position to make sure his submissions get funnelled to himself. This could allow him to possible bump his coins a half point to a point.
<< <i>
<< <i>What problems can arise from a part time grader dealing in coins? Although the grader does not know who is submitting the coins, >>
If the part time grader did some submissions he might be in the position of knowingly certifying his own coins (because he recognises his submission) and might even be in a position to make sure his submissions get funnelled to himself. This could allow him to possible bump his coins a half point to a point. >>
I doubt that the top TPGs would allow this to happen. If word got out, it would really hurt their reputation.
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