Why the difference in values in high MS Lincolns between NGC and PCGS?

dsessom

Just an observation here, but is PCGS more stringent on grading Lincolns (and possibly other donominations) than NGC in higher MS ranges, say 65 and above?
Up until MS64, the values are about the same on most dates, but there are HUGE differences in values in MS66 and higher. For example, a 1946 NGC 66RD is worth about $85 where a 1946 PCGS 66RD is worth more than $500. Am I in the ballpark on this? Is PCGS more strict in grading at that level?

JCMhouston

You need to look at actual auction prices, not the price guides everyone throughs around. Then you will know if there is an actual difference. People that collect PCGS only slabs will usually pay more for them, so I think that they will run a little higher, probably not 5-6x higher though.

LeeG

Look at the coins that are of the same grade. There in lies the answer.

Treeman

The PCGS Registry only allows PCGS coins...

OneCent

NGC, on average, is about 1 point more liberal than PCGS with their grading of MS Lincolns.

smokincoin

<< <i>Look at the coins that are of the same grade. There in lies the answer. >>


Nice!

MidLifeCrisis

<< <i>You need to look at actual auction prices, not the price guides... >>




Still, there does exist a general perception in the marketplace that PCGS grades coins more consistently and accurately...and this is not new.

lusterlover

Look at the population reports as well. PCGS is stingier at the higher grades.

notwilight

<< <i>The PCGS Registry only allows PCGS coins... >>



A fact but not the answer. The difference is in how the two TPGs grade, especially moderns. --Jerry

lkeigwin

Having built an NGC registry set of early Lincolns (#4), and having decided to abandon NGC and move everything over to PCGS (now #24), I can tell you that PCGS grading at the high end is much more stringent. I think this is true of copper in particular but I've seen it to a lesser extent with Peace dollars as well.

I like to think I have a good eye and reasonable knowledge about these coins. Some downgrades were expected. Roughly 70% of the NGC wheaties were downgraded one to two points or downgraded for color (RD to RB, e.g.).

I am not unhappy with the results but it was very telling. What I don't know is whether NGC would have downgraded many too, if circumstances could have been reversed somehow. Word is that NGC has tightened up their grading too.

EagleEye

Interesting two lots from the B&M auction:

Lot 115 1907 PR-66RD Indian Cent PCGS sold for $5,290
Lot 116 1907 PR-66RD Indian Cent NGC did not sell (High bid was $1,500)

The difference was lot 116 was actually RB not RD. You have to buy the coin, not the holder. If the coins were reversed, perhaps the results would have been different - the RB coin, now in a PCGS holder might have sold for more.

dsessom

Interesting stuff! That does speak volumes about the integrity of PCGS as a grading service. Although the standards are pretty close in lower MS grades and below, I'd be willing to bet that overall, coins in PCGS holders retain their value better over time and are undoubtedly viewed as better investment material compared to other grading services.

tradedollarnut

The ultimate answer is indeed that the PCGS Registry only accepts PCGS coins.

The top collectors in the Lincoln Cent series will essentially only buy PCGS [tho I'm sure they'd step up for a no brainer NGC - but how many of them are offered that aren't crossed!]. Because the top players buy PCGS only, the price for PCGS graded top pop Lincolns skyrockets and NGC dips. Because of this, all NGC Lincolns are tried for crossover ad nauseum.

If you have any doubts about this, focus on the price realized for the same coin in different plastic at the same grade.

sinin1

I disagree with TDN (one of my first times)

I feel on the average in grades MS66-68, NGC coins are graded between 0.4-0.6 points higher (at least in stuff minted in last 100 yrs)

which in many cases dumps the NGC to a 1 grade lower score if cracked and sent to PCGS


if they were the same across the board, all NGCs would be cracked until the prices became equalized (and many are, but few make it I suspect)



it still comes down to knowing your series of interest, and buying the coin while using the slabbed grade as a close estimation