A list of questions from the Young Numismatist

daOnlyBG

Hello everyone,

It's been a several weeks now since I've joined the boards, and I've learned a lot. Thank you very much. There are some questions, I suppose, that I still have. I've listed them below.. feel free to answer any one you'd like. Or, if you don't want to answer them, that's cool too.

(1) NGC vs. PCGS vs. ANACS holders.
What's the deal? Some people have said that the PCGS ratings are the most trusted, other swear by NGC because it's the "official grading service for the ANA" and some bloggers liked ANACS because they're graded conservatively- or were, at some point? I have no idea. Does it really matter which holder your coin's in?

(2) "You Suck" award. lol...what's that about? It's not on these forums, as I understand, but the PCGS forums?

(3) You can subscribe to a TPG service and mail in a large quantity of coins for a flat fee, to be graded, or did I miss something? If so, how much would this fee be?

(4) What does "GTG" stand for?

(5) Those wildly toned coins- the ones that have a rainbow on them, essentially- are toned naturally? Do people intentionally tone them what way? Either way, how does this affect the value of the coin?

(6) I understand that some TPG services come to the large coin shows. Of those that do... do they grade coins on spot?

(7) There are these small holders I keep seeing online and at some small coin shows. They're smaller than the average coin holder and say "ANA" on them with a cool ANA/PNG hologram on the back. ANA used to do its own coin grading back in the day? Or are these early ANACS holders? Are they accurate?

I def have some more questions... I'll add them to the thread as time goes by. Thanks in advance to anyone who feels like answering!

Casman

Welcome..gtg is guess the grade..

AUandAG

PCGS, NGC and ANACS are all reputable firms. Some prefer one or the other for
a particular series of coins. Like buffalo nickel collectors seem to prefer NGC for
whatever reason.

GTG means Guess The Grade on a coin.

YOU SUCK awards are given by members to other members when they get a killer
deal on a coin. YOU CANNOT ask for a you suck award. It's just given when appropriate.

ANA did grade coins before they were sold off and became ANACS.

Small holders are just that, small. Some are accurately graded by today's standards and
some are not, you have to know your grading to make that determination.

that's some of them.

bob

tightbudget

1) Naturally, the answer will be a bit biased here since it is a PCGS forum but from what I've seen, PCGS coins tend to be the most conservatively graded overall and command the highest prices in the marketplace. NGC-graded coins are still fine too; many NGC coins command prices at or near PCGS-certified coins. Early ANACS coins (those in the small holders) tended to be graded more conservatively than they are now. They usually trade for prices less than PCGS and NGC coins but there are still some decent coins left in them. As far as detecting counterfeits is concerned, all three are excellent at it.

2) "You suck" when you buy something (usually a cherrypick) absurdly cheap. The old guidelines (as defined by some on this forum) used to be several thousand times under market value though I have seen it applied more liberally recently. It's just a term used around here to imply friendly jealousy.

3) Depends

4) Guess the grade

5) If it's naturally toned "NT" and looks nice, they can command huge premiums. The toning folks can explain this a lot better than I can

6) Yes. They usually offer fast turnarounds too (during show) but unless you have something really valuable (faster turnaround=higher slabbing fees), it's probably best to submit regularly (I think they might even accept coins for regular submissions to save you on shipping costs, someone clarify this?).

7) Those holders are old ANACS holders back when they were owned by the ANA. It was the ANA's own grading company which they then subsequently sold (I can't remember off the top of my head to whom).

daOnlyBG

So far, thank you to all of you who've responded. I'm still welcoming more answers, though I do have another question: when is a coin officially deemed "rare"? I mean, it's not like you're going to find a Liberty Head from the 1800s in a cash register.. but is there a mint production limit to what "rare" can be?

DaveG

There isn't any "official" way to deem a coin "rare."

"Rare" and "scarce" are adjectives that are applied depending on availability and demand, and pretty subjectively applied, too.

Now, obviously, if only four or five of something exist, then it's objectively rare, but if no one collects that something, does it really matter?

daOnlyBG

Thanks Dave. I might have misread some people's comments, but I got the impression "rare" was a specific status for certain coins. If that's not the case, cool. 8)

DaveG

There are various rating scales that have been created that apply adjectives to specific quantities, such as "500+ exist = common" or "100 exist = slightly rare".

None of these rating scales are "official"; but some of them are convenient to use.

DeliaBug

<< <i>So far, thank you to all of you who've responded. I'm still welcoming more answers, though I do have another question: when is a coin officially deemed "rare"? I mean, it's not like you're going to find a Liberty Head from the 1800s in a cash register.. but is there a mint production limit to what "rare" can be? >>



To give an example of what DaveG alluded to, there are some Hard Times Tokens and items in other areas of exonumia of which only one example is known. They are unique and as such they are the epitome of rare. Yet some can be had for less than $100 as the demand is not present. Rare does not always equal valuable.

I don't think there is another word more misused and abused in numismatics than 'rare'; or excessively rare, exceedingly rare, über rare, or whatever the spin is used to qualify something.

Swampboy

Rarity Sclae from the CoinFacts website

Good questions.