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The Big One = more business for PCGS?

mattnissmattniss Posts: 774 ✭✭✭✭✭
I think that one obvious aspect of The Big One was to entice current and future coin owners to resubmit (for regrade or crackout), crossover, and submit new submissions to PCGS due to the new Secure Plus system and/or Grade "+" grading. Do you feel like this will drum up more business for PCGS in the short term? Long term?

Comments

  • Less business....you can't resubmit because they'll have scanned it and you won't get a higher grade.
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  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>Less business....you can't resubmit because they'll have scanned it and you won't get a higher grade. >>

    Except for those coins which were graded before this service went into effect, yes?
  • mattnissmattniss Posts: 774 ✭✭✭✭✭
    It will be interesting to see how/if the market share of graded coins by company shifts as a result of this.
  • Wolf359Wolf359 Posts: 7,663 ✭✭✭


    << <i>Less business....you can't resubmit because they'll have scanned it and you won't get a higher grade. >>



    Oh you can re-submit and they can eat your grading fee just to print back what's in the database already. I hope that isn't true, but this does seem very much a concern.
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Coins not in the database can certainly be resubmitted for Secure Plus. Recognize this though, if submitted, and the grade drops a level, it will be that grade forever. Any further submissions will be recognized upon scanning and the grade once again assigned.
    As to the OP question.... of course it should mean more business for PCGS. It would be a foolish venture if that were not one of the objectives.
    The one question I have not seen asked to date, is "What does this mean for the human graders?" Will they be affected?
    Cheers, RickO
  • 291fifth291fifth Posts: 24,694 ✭✭✭✭✭
    It may actually cause some collectors of US coins to leave the field altogether if coins in non-Secure Plus holders decline in value as a result.
    All glory is fleeting.
  • I received this email:

    Dear PCGS Set Registry Member,

    As part of the new PCGS Secure Plus service PCGS is now designated plus grades for coins that are in the high end of their grade. Plus grades will be designated for grades EF45 thru MS/PR68, with the exception of MS/PR60 and 61. We estimate that about 15 to 20% of the coins in a particular grade will be plus grade coins.

    The new PCGS Secure Plus service also features laser coin identification. Complete details of the PCGS Secure Plus service are now posted on the PCGS home page www.pcgs.com.

    The additional plus grade designation will change a lot of things. The PCGS Price Guide is now listing prices for the plus grade coins. The PCGS Population report will report Plus grade populations. As for the PCGS Set Registry, plus grades will now be accepted and recognized as “in-between” grades in terms of weighting. Coins receiving a plus grade will be calculated .5 points higher. In other words, if your coin grades 65+, it will calculate as 65.5 in the Registry.

    In the words of PCGS founder David Hall, “It’s a marketplace reality that there are high end examples of various grades. Sophisticated collectors and dealers have recognized this for decades and high end coins have almost always traded at premium prices. Plus grading of high end coins mere formalizes this marketplace reality. For the Set Registry plus grading recognizes and rewards the nicest coins.”
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  • PlacidPlacid Posts: 11,299 ✭✭✭
    nm
  • mattnissmattniss Posts: 774 ✭✭✭✭✭


    << <i>As to the OP question.... of course it should mean more business for PCGS. It would be a foolish venture if that were not one of the objectives. >>



    I was really trying to get at what this would mean for PCGS' business short term vs. long term. I agree that short term it should provide a boost on people wanting their coins to reap the benefits of The Big One, but long term it seems more grey.
  • TBO The Bing One is nothing more than a stolen idea from NGC
  • truthtellertruthteller Posts: 1,240 ✭✭


    << <i>Less business....you can't resubmit because they'll have scanned it and you won't get a higher grade. >>




    How much business income is derived by crackout coin coin dealers? I would say a large percentage of higher end coins submitted at any coin show is from crackout dealers. If a crackout dealer or collector sees a coin with the new Secure insert, he/she is much, much less likely to buy the coin for resubmission with the knowledge that the coin is now in the database. Even if the software is proven to be fallible, the chances of a crackout dealer spending tens of thousands of dollars of upgrades is substantially reduced.

    In addtion, often times a crackout dealer will spend multiples of the coin's grade value for the opportunity to upgrade. With the new insert, the crackout dealers will not pay premiums, thus reducing the coin's potential value at auction or at sale.

    While the service has good intentions for some coin owners, the consequences of having the new insert may actually lower the values of those coins for future owners.


    TRUTH
  • coinguy1coinguy1 Posts: 13,484 ✭✭✭


    << <i>TBO The Bing One is nothing more than a stolen idea from NGC >>

    How so? NGC hasn't previously used a PQ designation. And please don't tell me the star is a PQ designation, as it pertains to exceptional eye-appeal, not coins that are close to the next grade up. Nor have they used a laser scanner in order to fingerprint coins.
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    I think something along the lines of a Big One would affect nearly all coins, not just the more valuable ones. This new system only seems to affect a small percentage of coins and is optional, not mandatory.

    Since coins slabbed by PCGS are already protected by the PCGS guarantee, what new does this bring?

    The plus added to grading is also confusing. Is it the same as a CAC sticker, is it for appearance? Most people here may know but will average collectors know?

    Just my two cents.....

  • 2bucks2bucks Posts: 636 ✭✭✭


    << <i>It may actually cause some collectors of US coins to leave the field altogether if coins in non-Secure Plus holders decline in value as a result. >>



    This is an excellent point. How are they determining the value of the + designations anyway? Total BS and not that my opinion really matters to them, but I don't like it at all.

    Just another way to increase revenue from all the resubs... lame!
  • atarianatarian Posts: 3,116
    Hmm does this mean that once scanned and graded we arent buying opinions anymore? Sounds like they are selling facts to us if coins can not be resubmitted for a higher grade. IE if a coin is a 63/64 and comes back a 63. would that still be their opinion since it sounds to me like they are not going to allow to resubmit maybe getting the 64. I dont know, Ill still buy the coin not the plastic but it does raise issues with me if I think a coin should be a 64 you can crack till your blue in the face i worry that they will just spit out like earlier posted the grade in the computer. Does this just mean if you want the higher grade, you now need to send the coin in for the regrade service?
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