......Isn't a 66+ coin better than a 66, which is better than a 65+, which is better than a 65, which is better than a 64+, which is better than a 64.............?
...whats the big deal about the "+" , except that its just another adjective to describe the number of steps on a line of the continuum of possible grades?
I remember saying this would happen, explaining the economics behind it.. (please look up my old post to see my analysis and subsequent other forum critiques).
I was told I did not know what I was talking about
<< <i>I read a letter to the editor in the Numismatic News where they pointed out that non-plus graded coins in PCGS holders, fell in value. If that's correct, then his frustration and irritation is completely understood. All (or nearly all) of my coins were bought before CAC stickers and (of course) the Plus system. Does this mean that anytime I go to sell any one of my slabbed coins that someone will go...hey this doesn't have a Plus on it (or the lovely looking green bean)...guess I'll have to offer you less. Well, that just sucks and it's unfair. >>
It sucks but I wouldn't call it unfair. Markets are always changing, and if someone opts not to stay current with recent developments, that's not the market's fault. >>
I debated whether to use the term "unfair" or not. I see what you're saying. I think that term will come up in the minds of many a collector if they feel they're getting the bad end of a deal when they have a coin that's not in a + holder for whatever the reason.
<< <i>Has PCGS inadvertently created a product that is defined by the market as "not so nice for the grade" with the Secure Plus non + designation?
Will unscrupulous dealers use this angle to beat down the price for non-savvy sellers? >>
I don't think this is necessarily true as it is different does not always mean negative. While yes a 64+ should be better than a 64, a 64 is still nicer then a 63+. I think people are too caught up in the + or - side of it but what it really is a .5 with no - grade implied.
The plus business is destructive to the industry for the many thousands (or tens of thousands) that have been faithful supporters of PCGS....especially for those that have been collecting for many years and have a substantial investment in their collection. For those that have 150+ coins in a collection the cost is insurmountable to resubmit coins for a + rating...strongly reeks of a PCGS marketing strategy to greedily expand the market for more profit...at the expense of numismatists...and true purveyors of coins and the coin industry. I'm sure that I have many coins that would meet the + rating...but why should I expend additional resources to meet this grading? Obviously to protect my collection...and that's what PCGS is preying on. It's another PCGS marketing gimmick to s*rew the collector. But, PCGS could offer a compromise by offering PCGS graded coins the opportunity to be upgraded to the +rating by offering free services to upgrade. Likely? Probably not...but like many others we'll probably sit and wait and conform...patiently paying out our money to achieve that + rating for our coins. Oh what a depressed and conformist society we are!
So much nonsense and a game I don't really want to play. (which plastic, +, no plus, CAC green/yellow) I can see myself being persuaded to go play in the bullion only sandbox
Nine. How the heck can nine coins graded + tilt the market for the other 16,182 coins in this series?
The same way that the first green bean issued immediately dropped the value on millions of NGC and PCGS coins (the NGC coins dropped much more than the PCGS) even if most didn't know it. Tens if not Hundreds of $Millions of dollars in coin values were lost that day though most didn't know it. In essence those that thought all PCGS coins (or any slabbed coins for that matter) were equivalent learned that there is a low end side even if they couldn't personally define it.
The lack of a plus sign on a PCGS coin doesn't prevent the coin from going to NGC for an upgrade (or a *) or to CAC for a green bean. I would supsect many (if not most) solid for the grade Secure Plus+ rejects will still get CAC beans. All the more reason to just leave your coins alone if they are in old holders. Let the PTB fight it out at auction.
I am having fun so far submitting my coins for the +. While the + has been very tough in the silver Washington quarter series thus far, I have little doubt many of the + Washington quarters will command STRONG premiums (way above what the coins would normally command without the +) when they go on the auction block over the next year or two. Ditto for many other 20th century coin series such as MS Franklins. I also believe the + coins "added value" will far outweigh whatever might be lost by nice non+ coins being sold with only CAC stickers down the road. If the coin was not all that nice for the grade and neither has a CAC sticker or a + when it is eventually sold, perhaps it will sell for a lower price. That may or may not have been the case if the coin sold without a CAC sticker down the road (and there never was a secure plus). BUT, keep in mind that coins DO go up a full point on these secure plus regrades. I have already had a rare 19th century coin go up a full point for a good customer of mine and that point translated to about $25,000+ of added value to the customer. You can buy a lot of "secure plus" grading with a $25,000 "bank roll"! Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
I think the new plus grade will greatly improve the integrity of the registry and PCGS. If you have coins that you feel are overgraded, simply send them in for review.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
Comments
<< <i>I might be forced to actualy look at the coin myself >>
......Isn't a 66+ coin better than a 66, which is better than a 65+, which is better than a 65, which is better than a 64+, which is better than a 64.............?
...whats the big deal about the "+" , except that its just another adjective to describe the number of steps on a line of the continuum of possible grades?
......I collect old stuff......
I remember saying this would happen, explaining the economics behind it.. (please look up my old post to see my analysis and subsequent other forum critiques).
I was told I did not know what I was talking about
<< <i>
<< <i>I read a letter to the editor in the Numismatic News where they pointed out that non-plus graded coins in PCGS holders, fell in value. If that's correct, then his frustration and irritation is completely understood. All (or nearly all) of my coins were bought before CAC stickers and (of course) the Plus system. Does this mean that anytime I go to sell any one of my slabbed coins that someone will go...hey this doesn't have a Plus on it (or the lovely looking green bean)...guess I'll have to offer you less. Well, that just sucks and it's unfair.
>>
It sucks but I wouldn't call it unfair. Markets are always changing, and if someone opts not to stay current with recent developments, that's not the market's fault. >>
I debated whether to use the term "unfair" or not. I see what you're saying. I think that term will come up in the minds of many a collector if they feel they're getting the bad end of a deal when they have a coin that's not in a + holder for whatever the reason.
<< <i>Has PCGS inadvertently created a product that is defined by the market as "not so nice for the grade" with the Secure Plus non + designation?
Will unscrupulous dealers use this angle to beat down the price for non-savvy sellers? >>
I don't think this is necessarily true as it is different does not always mean negative. While yes a 64+ should be better than a 64, a 64 is still nicer then a 63+. I think people are too caught up in the + or - side of it but what it really is a .5 with no - grade implied.
The same way that the first green bean issued immediately dropped the value on millions of NGC and PCGS coins (the NGC coins dropped much more than the PCGS) even if most didn't know it. Tens if not Hundreds of $Millions of dollars in coin values were lost that day though most didn't know it. In essence those that thought all PCGS coins (or any slabbed coins for that matter) were equivalent learned that there is a low end side even if they couldn't personally define it.
Dreck = (not secure+) + (non-CAC) + (non star).
Guilty by disassociation.
The lack of a plus sign on a PCGS coin doesn't prevent the coin from going to NGC for an upgrade (or a *) or to CAC for a green bean. I would supsect many (if not most) solid for the grade Secure Plus+ rejects will still get CAC beans. All the more reason to just leave your coins alone if they are in old holders. Let the PTB fight it out at auction.
roadrunner
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection