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Genuine--PCGS?

DwaineODwaineO Posts: 1,701
in U.S. Coin Forum
What does Genuine mean on PCGS holders? I am browsing the Heritage lots and seeing quite a few slabs with this and no grade.

Comments

  • SilverEagles92SilverEagles92 Posts: 6,787 ✭
    Where have you been for the past month?

    For $100, PCGS will slab problem coins with simply a "Genuine" designation, and no numeric grade.
    image
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  • DwaineODwaineO Posts: 1,701
    Well I guess I missed that. Thanks for the info.
  • lordmarcovanlordmarcovan Posts: 43,673 ✭✭✭✭✭
    Don't feel bad, Dwaine. Apparently I too have been living under a rock.

    It happens to me quite often. image

    So, I take this to mean no more bodybags? If you pay your money and send your coin in, you at least get a plastic holder with the "genuine" label?

    Or is it a cheaper service tier where they only check for authenticity, and the coin comes back in that holder whether it has a problem or not?

    If the former of the two, that is a big improvement. I have long thought that the top-tier TPG's ought to at the very least cough up a plastic slab for the money.

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  • FilthyBrokeFilthyBroke Posts: 3,518 ✭


    << <i>Don't feel bad, Dwaine. Apparently I too have been living under a rock.

    It happens to me quite often. image

    So, I take this to mean no more bodybags? If you pay your money and send your coin in, you at least get a plastic holder with the "genuine" label?

    Or is it a cheaper service tier where they only check for authenticity, and the coin comes back in that holder whether it has a problem or not?

    If the former of the two, that is a big improvement. I have long thought that the top-tier TPG's ought to at the very least cough up a plastic slab for the money. >>




    As I understand, it's neither. It's a seperate $100 service for non grading higher end coins.
  • smallchangesmallchange Posts: 194 ✭✭✭
    Not really cheaper Lord, it is a 100 bucks for this service. I think it is more for expensive, rare coins that might have a problem but at least you could be assured it is genuine. A 1916d dime is one example that I can think of where I would want a coin to be guaranteed genuine.

    Smallchange
    Successful BST transactions with lkenefic, AnkurJ, ajia, stephunter, No lawyer
  • oxy8890oxy8890 Posts: 1,416 ✭


    << <i>Well I guess I missed that. Thanks for the info. >>



    Don't feel bad, many of us have lives. I missed it alsoimage
    Best Regards,

    Rob


    "Those guys weren't Fathers they were...Mothers."

    image
  • tahoe98tahoe98 Posts: 11,388 ✭✭✭


    ..................missed WHAT!!??image
    "government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
  • DennisHDennisH Posts: 14,003 ✭✭✭✭✭
    Genuine service is apparently intended for very rare problem coins that folks want in PCGS holders. It is not replacing bodybags at all. In fact, it is a special grading service that costs $100 per coin. PCGS does not assign a grade; they merely put the word "genuine" on the holder.

    If I had an uber-rarity that had been cleaned or holed or whatever, I'd be very inclined to send it in for this service.
    When in doubt, don't.
  • lasvegasteddylasvegasteddy Posts: 10,408 ✭✭✭
    unless i read it wrong...these holdered coins can be included in set registry...great example is a questionable color 09 vdb matty can now be holdered and complete a set that us poor working class can now afford

    anyone with a problem 09 vdb matty...my pm is onimage
    everything in life is but merely on loan to us by our appreciation....lose your appreciation and see


  • UTTM07UTTM07 Posts: 313 ✭✭
    I wonder if they review coins sent in for a genuine slab to make sure they wouldn't grade? Would you get 70 dollars back if they did?
  • BECOKABECOKA Posts: 16,961 ✭✭✭


    << <i>Don't feel bad, Dwaine. Apparently I too have been living under a rock.

    It happens to me quite often. image

    So, I take this to mean no more bodybags? If you pay your money and send your coin in, you at least get a plastic holder with the "genuine" label?

    Or is it a cheaper service tier where they only check for authenticity, and the coin comes back in that holder whether it has a problem or not?

    If the former of the two, that is a big improvement. I have long thought that the top-tier TPG's ought to at the very least cough up a plastic slab for the money. >>



    No, no, no, no and no.

    Shoot, you have to pay the shipping and grading fee to find out your coin get's body bagged. Then send it back and pay an additional $100 to get it into a slab with no grade.

    If you ask me it's kind of bogus and that since they have to grade it anyway at a fraction of the cost that a BB coin should get the Genuine slab automatically if requested.
  • leothelyonleothelyon Posts: 8,475 ✭✭✭✭✭


    << <i>

    << <i>Don't feel bad, Dwaine. Apparently I too have been living under a rock.

    It happens to me quite often. image

    So, I take this to mean no more bodybags? If you pay your money and send your coin in, you at least get a plastic holder with the "genuine" label?

    Or is it a cheaper service tier where they only check for authenticity, and the coin comes back in that holder whether it has a problem or not?

    If the former of the two, that is a big improvement. I have long thought that the top-tier TPG's ought to at the very least cough up a plastic slab for the money. >>



    No, no, no, no and no.

    Shoot, you have to pay the shipping and grading fee to find out your coin get's body bagged. Then send it back and pay an additional $100 to get it into a slab with no grade.

    If you ask me it's kind of bogus and that since they have to grade it anyway at a fraction of the cost that a BB coin should get the Genuine slab automatically if requested. >>



    Especially for coins that are valued over $1000+.
    And add an extra checkbox; Would you like your coin holdered as Genuine if by chance we think it's a POS?


    Leo

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

  • LakesammmanLakesammman Posts: 17,438 ✭✭✭✭✭
    Effective immediately, the Professional Coin Grading Service (PCGS) will begin authenticating and encapsulating "problem" coins (altered surface, cleaned, environmental damage, etc.). Holders and inserts for the Genuine Service will be identical to the normal PCGS holder except the insert will read "GENUINE" in place of the usual grade. No grade will be assigned to these coins, but they will be eligible for inclusion in the PCGS Set RegistrySM with a grade value of 1. Genuine Service coins will be covered under the PCGS Guarantee of Authenticity but not under the PCGS Guarantee of Grade.

    PCGS reserves the right to reject any coins submitted under the Genuine Service, including coins that are excessively damaged, altered to such a degree that making a determination of authenticity is difficult or impossible, or have surface contaminants that may harm the coin in the future. In such cases, PCGS will refund the fee and related shipping charges for that coin. Customers should submit all coins for the Genuine Service on a regular PCGS submission form, marking "GENUINE SERVICE" in the "Other" box.
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
  • krankykranky Posts: 8,709 ✭✭✭
    I think PCGS would be happy if no one ever sent in a coin for a "Genuine" label. I suspect the price is high to discourage people from using it unless you have a rare coin that needs to be authenticated.

    Imagine if it cost $20 - what do you think your ebay searches would be like? A cheap service that has the PCGS aura would be mobbed by people wanting to sell junk on ebay and on TV. And I doubt that PCGS wants to see tons of crappy coins in their slabs even if it is only labeled "Genuine".

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • RYKRYK Posts: 35,799 ✭✭✭✭✭


    << <i>I think PCGS would be happy if no one ever sent in a coin for a "Genuine" label. I suspect the price is high to discourage people from using it unless you have a rare coin that needs to be authenticated.

    Imagine if it cost $20 - what do you think your ebay searches would be like? A cheap service that has the PCGS aura would be mobbed by people wanting to sell junk on ebay and on TV. And I doubt that PCGS wants to see tons of crappy coins in their slabs even if it is only labeled "Genuine". >>



    I agree with Kranky. My guess is that it was started for appeasement of customers who wanted such a service, rather than for revenue generation.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • BECOKABECOKA Posts: 16,961 ✭✭✭


    << <i>No grade will be assigned to these coins, but they will be eligible for inclusion in the PCGS Set RegistrySM with a grade value of 1.

    >>



    Shoot, this will give new meaning to the lowball registry folks that can't get that P02 down to P01. Marty this is just for you. image
  • MowgliMowgli Posts: 1,219 ✭
    Looking at Harry Laibstain's site shows some PCGS "Genuine" coins for sale. It doesn't look like they are selling for much less that regular PCGS coins of the same grades.
    In the land of the blind the one-eyed man is king.
  • DennisHDennisH Posts: 14,003 ✭✭✭✭✭


    << <i>Looking at Harry Laibstain's site shows some PCGS "Genuine" coins for sale. It doesn't look like they are selling for much less that regular PCGS coins of the same grades. >>




    Except PCGS doesn't put grades on "Genuine" coins.
    When in doubt, don't.
  • Dawg144Dawg144 Posts: 670 ✭✭✭


    << <i>

    << <i>No grade will be assigned to these coins, but they will be eligible for inclusion in the PCGS Set RegistrySM with a grade value of 1.

    >>



    Shoot, this will give new meaning to the lowball registry folks that can't get that P02 down to P01. Marty this is just for you. image >>



    That's an interesting point...

    Can lowballers just holder all their coins as "Genuine" to give all their coins 1 registry point? image
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  • DennisHDennisH Posts: 14,003 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>No grade will be assigned to these coins, but they will be eligible for inclusion in the PCGS Set RegistrySM with a grade value of 1.

    >>



    Can lowballers just holder all their coins as "Genuine" to give all their coins 1 registry point? image >>



    No. "Genuine" graded coins can' be used in lowball sets.
    When in doubt, don't.
  • BECOKABECOKA Posts: 16,961 ✭✭✭


    << <i>Looking at Harry Laibstain's site shows some PCGS "Genuine" coins for sale. It doesn't look like they are selling for much less that regular PCGS coins of the same grades. >>



    That's really not good if they are all selling for P01 prices. image

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