NGC No Longer Allows problem free PCGS/ NGC PO01 Coinage into Their Registries! UPDATE: It's NOT jus

braddick

Wow! I entered Greg's PO01 Columbian into my PCGS Commemorative Registry- no problem. I also attempted to enter it into my NGC Registry only to receive an email from Danielle Klingener (Customer Relations) stating, NGC no longer allows PO01 coins into the Registry.
I sincerely hope NGC reconsiders.
What they may not realize is the difficult task in aquiring these coins. As I wrote on a thread I started over there, these PO01 coins are tough. They must each be problem free. No rim bumps- gouges- scratches- tooling- old cleanings allowed (just like any other coin). Most of these didn't make it far in life without receiving one of these problems.
A PO01 coin MUST also have a readable date and a MintMark, (if one was given that year). Again, by the time a coin has been in circulation long enough to wear down to the point it's a "PO01" these necessary details are also missing.
Oh, too much detail and the coin will also bump up a grade or two.

Edited to include the latest update (also a few posts down...): Any coin from PO01 to VF35 is NOW NO Longer Considered a Registry coin.

I think NGC is in error NOT to allow these coins into their Registry- but regardless. Why do they care? What harm am I or others causing by entering these coins? If that owner of a type set only has a PO01 Chain Cent why would NGC not allow it in his Registry?

I sincerly hope NGC will reconsider their new position and change it back to how it was.
In the meantime, I wonder if the PO01 coins I do NOW have in my Commemorative NGC set will be removed?
Any suggestions?

keithdagen

Pat,

That stinks. It's taken me several months to wear down a Sac from MS-65 to XF-45. Now the long slow road to GD-04.

I agree that this is going to be a bad move. Several coins pre-1800 are purchased slabbed in grades of GD-04 or less, especially the Chain & Wreath cents and the 1792 Half Disme. If collectors can't use them, that's going to cause some backlash.

Keith

wondercoin

Pat: My guess is NGC does not have a value on your P-01 for use in the Registry, hence it can't be entered. A simple note to them along with a suggested relative weight of whatever is the lowest point possible might ensure your coins stay where they belong in the NGC registry Wondercoin.

BigE

Oh no! Those pooh coins won't be worth anything now, you should have sold them before you told anyone----------BigE

braddick

BigE: I've been collecting these coins off and on for 20+ years now- with or without a 'Registry'. Thanks for the grounded advice though.

pop1

Mitch is probably right, like the sample and 911 slabs at pcgs, they're just not in the data bank. In Pat's circumstance, however, determining a value for a PO-01, for example, requires little thought. I'm sure Pat would agree that the coin should have the smallest value obtainable, and be very happy.
Or assign a "zero" value, but, just don't blatently say they are "not worthy", which becomes the effect of their rule.

braddick

I agree. The lesser the 'value', the better. By the way- what has NGC been doing up to now? My PO01's have been entered and taken without a problem up to now.
Seriously, what I'd suggest NGC do is simply take half the value of a FA02? Would that work?

BigE

If they are harder to find than FA02's, shouldn't they be worth more?------------BigE

braddick

BigE: To me, yes. But I'm trying to give NGC and 'out' here.
UPDATE: I just received a friendly email from the folks at NGC essentially telling me that only coins XF40 and above may now be considered for the Registry.
This is worse than I thought! It's not just my lowly PO01 collection of misfit coins, but now anyone with a problem free VF35 (or lower) coin will be disallowed from the NGC Registry!
So, if you have a 1916-D Mercury in FN12 or an 1913-S Barber quarter in VG10, or any Drapped Bust, Flowing Hair material that is smooth, problem free, but resting in a PCGS or NGC slab under the grade of XF40- forget about entering it in any NGC Registry.
Is this really what NGC is going after!? I always considered NGC a "Collectors Society".

Spooly

Well Braddick it's their Registry not the collectors! You have to play by their rules. What are you saying... that the collectors should get together and ask for some common sense changes?

kieferscoins

That is wrong. VF and above for early half dollars are nice coinsa and many collectors would never be able to finish their sets. It sounds like after trying so hard to get collectors to come to their site and register they are putting up barriers to entry. PCGS does not even do this. NGC will learn, but only after loosing more potential customers.

Cameron Kiefer

andy007

There still mad at you for raising hell on their new boards Pat, didn't you know that's why they didn't kick you off the boards there, they had other things in mind the whole time

shirohniichan

Ay caramba! Only XF and above?! I guess that boils down to the collector of modest means not being able to register his scarce type coins when NGC finally adds a type set to its registry. How am I going to be able to afford a chain cent in EF-40 or higher? I'm having problems right now finding a VF coin that jumps over 2 times in price for an XF. Does that mean I now have to pony up over twice the cash in case I want to add it to a registry? If that's the case, I've found yet another reason to avoid buying entombed coins.

lordmarcovan

Too bad about the PO01 thing on the Registries. Sounds like snobbery to me. Keithdagen had a good point about Chain cents and 1792 half dismes. BTW, I haven't picked up that AG Huguenot half for you yet, but there is a Peace Dollar I've been saving for you. I would call it a problem-free PO01. The only lettering that even partially shows are two letters in LIBERTY. The downside is that the date is gone. Still, a ghost of the last digit is faintly visible- it looks like the top of a 3 or maybe an 8. I would bet it's a 1923. Yours if you PM me your address.

I'll save all my "slick smoothies" for you if you save all your pre-1900 "holeys" for me. I still need a few large cents for the date set on the back of my Holey Coin Vest...

pop1

This is a quantum leap from worrying about a pop1 coin.
This decision disallows many, many coins, from the opposite end of the scale, THOSE COLLECTED BY THE MASSES.

TO THOSE WHO AGREE WITH THIS DECISION:

NOW, WE'RE TRYING TO GET RID OF THE "TOP" COINS,
AND WE ARE NOW GOING TO GET RID OF THE "BOTTOM" COINS,
WHY DON'T WE JUST FIND OUT THE GRADES OF YOUR COINS,
AND JUST ALLOW ONLY THOSE IN THE REGISTRY?

BigE

All kidding aside, I believe that people should be allowed to enter a set in whatever grade they like. Otherwise NGC should not charge 30.00 to grade these coins and put them in their holders, it's the same thing!------------BigE

Spooly

Steve I think you missed the deeper sarcasm of my post!

CarlWohlforth

Consider what happens if NGC realizes their mistake. If NGC weighs by market value braddick's job will now be very, very hard. Not only will it be so very hard to find those problem free P01 coins, but he can't even pay extra for them!!!!!! If he starts bidding up those coins his set will start climbing up in rank But maybe there is a silver lining. They will need an expert on pricing for P01 coins as they are not readily traded or found in various price guides. Perhaps he can supply them with "realistic" pricing; you know, what they really should be worth

pop1

I didn't miss your humor, spooly. That' why I directed it to you. I knew (thought) the tenure would be well-received, consistant, and continued. I knew that we "agreed".
Darn it, I guess I shoulda, NO, I shoulda used a smiley. No biggie, and no offense.

pop1

Silver lining, Carl, and quite a twist.
That's the beauty of this set, and it's value, being registered.
Once those coins are realized as "extremely rare", as they are, they/the set will "move up in ranks".
When the relative rarity and prices paid are truely realized, there will be no arguement that Braddick's set, with the addition of a few more coins, should be #1!
We're behind you Pat!

khayse

I was thinking of having my grandfather's 1921-S Walker slabbed.
If I'm lucky it would make FN12.

I'll be very disappointed that I can't add my collection to
NGC's registry (Now there's some heavy sarcasm).

-Keith H

braddick

Thanks guys. I've worded a very relaxed, informative email to NGC. I'm in no way all angry, or anything- I get the big picture in life- these are just coins.
I hope NGC will reconsider though. I enjoy the Registries and don't want to just watch NGC's from the sideline.
I'll keep this forum posted as to any new replies I'm hoping to receive from them.

BigE

I think that is a good approach and I hope they listen to you-----------------------BigE

K6AZ

You've got to be kidding me- XF and above only? There are a couple dates in the Morgan Series I will never be able to attain in those grades unless I hit the lottery, such as the 89-CC and 93-S. What are they thinking over there?