Interesting "PCGS Statistics"...

DoubleEagle59

First time I've seen this....

PCGSstats

Broken down for the month:

600 coins per hour is graded.

Either by the month or by the year, 4.5% of coins submitted are 'bodybagged', meaning on average, for a 22 coin submission, only 1 coin is bodybagged.

MICHAELDIXON

Very interesting.

Rampage

They paid out a healthy sum of cash over the past 30 days for the guarantee warranty claims averaging 2600 dollars per coin.

SanctionII

600 coins per hour being graded is 10 coins per minute, or one coin every six seconds.

I wonder if this 600 coin per hour figure represents the # of coins per hour graded every 24 hours, seven days per week, 52 weeks per year [does PCGS grading operations run 24/7, 52 weeks per year?].

Further I wonder how many graders are working during any given hour that 600 coins are graded? 1 grader would mean he/she is grading one coin every 6 seconds [that would burn you out quickly]. 10 graders wound mean they are grading one coin every minute [still very demanding and leading to burn out if kept up for a long time].

BryceM

I love coins, and seeing some interesting coins come through would be fun, but you couldn't pay me enough to sit there and grade an entire monster box of ASEs. I'd start flipping them and assigning 69 to the ones that came up heads, 70 to the ones that came up tails, and 65-68 to the ones I didn't catch.

The crossover rate isn't very good...... I wonder if that has anything to do with the $$ that are paid out for their guarantee.

BTW, anyone ever been contacted to report a coin that was dropped, dinged, scratched, or otherwise damaged during the grading process? I know they're good, but so are neurosurgeons and instruments get dropped in the OR all the time. It's got to happen......

CoinBuyer12

Someone told me that a grader has 10 seconds to grade a coin. That seems like a short time.

DIMEMAN

I can't see how you could possibly look all over a coin and determine a grade in 6 seconds.

Just can't see it.

MrEureka

I can't see how you could possibly look all over a coin and determine a grade in 6 seconds.

It's easy if you have a dozen or more graders to do the work for you.

copperhunter

Should use a metric along the lines of coins per man hour.

MrEureka

Someone told me that a grader has 10 seconds to grade a coin. That seems like a short time.

It is a short time. Then again, "someone" does not necessarily have his facts straight.

The truth is that an individual grader will spend anywhere from roughly 10 seconds to 2 minutes putting a grade on a coin. (For "classics", I'd guesstimate the average at 30 seconds. For "moderns" and "bullion", the average would be much faster.) Some things are simply easier to grade than other things. And large groups of very similar coins will go more quickly than a diverse run of coins.

pocketpiececommems

Are they saying the average crossover submission has a 33% success rate of getting a grade?

DoubleEagle59

<< <i>Are they saying the average submission has a 33% success rate of getting a grade other than a bb? >>



No, 33.3% refers to the cross-over success rate (has nothing to do with bodybags).

Rampage

<< <i>Are they saying the average crossover submission has a 33% success rate of getting a grade? >>



Absolutely not. They are telling you that of all the coins submitted for cross over in the last 30 days, roughly one-third had a success in crossing over. Next month, that success rate could be higher, or lower.

MikeInFL

I seem to recall this being posted before, but it has been a while.

I wonder how many of those coins were moderns (i.e. mint state and presumably high grade) and how many were classic coins, as my expectation is that statistics (including the aforementioned grading time) are quite different when filtered through this lens. Said a bit differently, it's much easier to sort coins into 5 buckets/grades than it is 50.

Thanks for posting this...Mike

p.s. on a related note, and speaking solely for myself as a lowly collector, I find that I'm actually a better grader (in that I can best predict a TPG grade) if I grade the coin quickly and without a loupe...as in 5 seconds quick.

SAM5969

<< <i>600 coins per hour is graded. Either by the month or by the year, 4.5% of coins submitted are 'bodybagged', meaning on average, for a 22 coin submission, only 1 coin is bodybagged. >>



My take on that is the vast majority of coins graded are moderns. There is no way classic pre '55 coins would have that success rate. Even occasional moderns are bagged with code 91 or 92 as everyone knows.

Even with the vast majority of submissions being moderns, that number still seems very high to me.

sniocsu

Very cool

WTCG

<< <i>I can't see how you could possibly look all over a coin and determine a grade in 6 seconds.

Just can't see it. >>



Professional graders and proficient graders can grade most coins in 6 seconds or less. Moderns and bullion coins much faster than that. Old copper takes longer. Walkers, Mercury Dimes and silver dollars mostly less than that.

People should also remember that of the total number of coins submitted the vast majority are moderns, bullion, Walkers, Merc Dimes and silver dollars. Seated and classic design coins make up a very, very small fraction of the submissions.