The PCGS Blue Bean?

RYK

I borrowed this term from another thread. Wouldn't it totally crush NGC if PCGS offered a Blue Bean sticker service, for the same price as the CAC service, to grade approve NGC coins that met PCGS standards. These coins would be eligible for reholdering at the appropriate grading tier price. That way, PCGS gets their label on NGC coins, but NGC still had the grade guarantee.

It needs some refinement, but it could be a little Big One.

ziggy29

I doubt it would happen from a business standpoint as it would effectively be a service that "legitimizes" the competition.

PerryHall

<< <i>I borrowed this term from another thread. Wouldn't it totally crush NGC if PCGS offered a Blue Bean sticker service, for the same price as the CAC service, to grade approve NGC coins that met PCGS standards. These coins would be eligible for reholdering at the appropriate grading tier price. That way, PCGS gets their label on NGC coins, but NGC still had the grade guarantee.

It needs some refinement, but it could be a little Big One. >>



what would prevent NGC from offering the same service to evaluate and approve PCGS coins?

Sonorandesertrat

<< <i>I borrowed this term from another thread. Wouldn't it totally crush NGC if PCGS offered a Blue Bean sticker service, for the same price as the CAC service, to grade approve NGC coins that met PCGS standards. These coins would be eligible for reholdering at the appropriate grading tier price. That way, PCGS gets their label on NGC coins, but NGC still had the grade guarantee.

It needs some refinement, but it could be a little Big One. >>



What evil thoughts you have. Sign me up.

BigE

RYK is trying to start "Bean Wars"----------BigE

ricko

"Bean Wars"....MAO... good one Big E.... Cheers, RickO

rld14

<< <i>I borrowed this term from another thread. Wouldn't it totally crush NGC if PCGS offered a Blue Bean sticker service, for the same price as the CAC service, to grade approve NGC coins that met PCGS standards. These coins would be eligible for reholdering at the appropriate grading tier price. That way, PCGS gets their label on NGC coins, but NGC still had the grade guarantee.

It needs some refinement, but it could be a little Big One. >>



I especially like this idea. Let's add ANACS coins as well.

FWIW, of the Barbers I have cracked out of ANACS slabs, they have all upgraded at PCGS.

ocon4008

Sorry sir, back to the drawing board Blue Bean is already taken.



How about "The Bean Blue"? Too close to trademark?

JRocco

While no one is looking at all this Third Party grading of Third Part graded coins someone
could probably slip the coin out of the holder without anyone noticing....

Might be months before some "collectors" noticed their coin wasn't there.

Might not even matter then to some........

BigE

Yes, insurance would be cheaper too. You just keep your beans at home and store the coin somewhere else------------BigE

lkeigwin

I like it. I'm sure NGC wouldn't, and maybe it's better not to rouse the sleeping giant. But let's play with the idea...Can blue-beaned NGC coins be used in the PCGS registry?
Lance.

ziggy29

<< <i>Can blue-beaned NGC coins be used in the PCGS registry? >>

IMO, this is about the only reason why the "market" would find such a service valuable. Then again, if it's not much cheaper than a crossover, you might as well do the crossover if you want the PCGS grade opinion and the PCGS registry.

BAJJERFAN

I wonder if Paul Beanyan would be inclined to submit coins under these circumstances.

BigE

You could have a bean COA with a number on it that looks like a mini Taco Bell napkin-----------BigE

RYK

<< <i>I like it. I'm sure NGC wouldn't, and maybe it's better not to rouse the sleeping giant. But let's play with the idea...Can blue-beaned NGC coins be used in the PCGS registry?
Lance. >>


What I would do is allow the usage of the Blue Bean coins in the Registry but with a "minus" modifier and appropriate point deduction. That would give tacit encouragement to pay the grading fee, so you could compete.

The Blue Bean would not only provide direct competition to the Green Bean (on NGC coins), but it would also take a shot at NGC.

BAJJERFAN

How about a rainbow bean for NT coins and an upside down or broken rainbow bean for AT coins?

coinkat

Interesting concept- expand it to allow those coins that have been Blue Beaned into the PCGS Registry and you may have something... just a thought... But if one is going to the trouble of getting a sticker, why not just cross it over or just buy a PCGS graded coin?

BigE

<< <i>Interesting concept- expand it to allow those coins that have been Blue Beaned into the PCGS Registry and you may have something... just a thought... But if one is going to the trouble of getting a sticker, why not just cross it over or just buy a PCGS graded coin? >>




Because it is more enviornmentally friendly than a crossover--------------BigE

RYK

<< <i>Interesting concept- expand it to allow those coins that have been Blue Beaned into the PCGS Registry and you may have something... just a thought... But if one is going to the trouble of getting a sticker, why not just cross it over or just buy a PCGS graded coin? >>


For a lower fee, the submitted would get the "approval" that the coin would cross and limited registry participation. Many would go on to get their coins crossed, and PCGS would get two fees.

Edit: Why not buy PCGS coins in the first place? I generally do, but sometimes that limits one's opportunity to obtain a nice coin. I would not consider an NGC generic Saint but would not pass up a dirty $5 in an NGC holder.

lkeigwin

Also, some folks prefer the new NGC edge-view holders or the old fatties. Others don't want their slabbed coins re-exposed to the environment, handled, etc.

Edited to add: The fee for the sticker service might be credited to a normal crossover later on.

Good idea, RYK!
Lance.

Bear

I believe that the Big News was only the initial development.

Much like an iceberg, much of what is to come, still remains

hidden behind the couch and will be rolled out in due course.

CaptHenway

<< <i>I borrowed this term from another thread. Wouldn't it totally crush NGC if PCGS offered a Blue Bean sticker service, for the same price as the CAC service, to grade approve NGC coins that met PCGS standards. These coins would be eligible for reholdering at the appropriate grading tier price. That way, PCGS gets their label on NGC coins, but NGC still had the grade guarantee.

It needs some refinement, but it could be a little Big One. >>



You talkin' 'bout my "Blue Balls" thread?????

CaptHenway

How about a "Blue Fish?"

ms70

Yeah. We could all use a little blue fish right about now.



http://tinyurl.com/pggxr4a

Weiss

I actually like the idea. Reminds me of this:



Just remember what these coins are nicknamed...

jcping

The first victim might not be NGC. It could be CAC. Who is going to get green/gold beans for his/her NGC coins if this service starts

AMRC

Very interesting but I can think of a couple of entanglements that would be beneficial to only the lawyers.

tradedollarnut

<< <i>I borrowed this term from another thread. Wouldn't it totally crush NGC if PCGS offered a Blue Bean sticker service, for the same price as the CAC service, to grade approve NGC coins that met PCGS standards. These coins would be eligible for reholdering at the appropriate grading tier price. That way, PCGS gets their label on NGC coins, but NGC still had the grade guarantee.

It needs some refinement, but it could be a little Big One. >>



I suggested a Registry Grade sticker over ten years ago. PCGS would put their grade on top of the NGC grade and it could be entered into the Set Registry as such.

BAJJERFAN

<< <i>The first victim might not be NGC. It could be CAC. Who is going to get green/gold beans for his/her NGC coins if this service starts >>



Since people submit both NGC AND PCGS graded coins to CAC, it's sorta obvious whose opinion they value more even tho a green on a NGC slab is no guarantee that the coin inside will cross at grade or better. Similarly a blue bean on a NGC holder would be no guarantee that the coin inside will cross at grade or higher, since once out of the holder ALL BETS ARE OFF!

ahopewell55

Nice innovative idea, RYK. I agree with Ikeigwin as well. The Crossover fees can run high on some coins and this would be a great alternative to many collectors. It would also be safer than cracking coins out.

MGLICKER

<< <i>

<< <i>I like it. I'm sure NGC wouldn't, and maybe it's better not to rouse the sleeping giant. But let's play with the idea...Can blue-beaned NGC coins be used in the PCGS registry?
Lance. >>


What I would do is allow the usage of the Blue Bean coins in the Registry but with a "minus" modifier and appropriate point deduction. That would give tacit encouragement to pay the grading fee, so you could compete.

The Blue Bean would not only provide direct competition to the Green Bean (on NGC coins), but it would also take a shot at NGC. >>





Edit: Yikes, stung by a four year old thread!

Type2

Would that make them beaners...... That is how i was traned by The Goodyear tire and Rubber Co. Was to take the wheel postion or sell them the tire at a discount and when some one want's or needs to order new tires they look at what they have on there car or truck and will order the same tire so we bought the wheel postion to keep selling them later it works well.

LanceNewmanOCC

<< <i>I doubt it would happen from a business standpoint as it would effectively be a service that "legitimizes" the competition. >>



i guess they are competitors. see whom can put the worst coins in the highest graded holders? how would that work with the blue beans?
.