PCGS Secure Plus no longer required for world coins?

OriginalDan · May 25, 2014 1:45PM

I've seen a number of world coins offered recently in NEW style PCGS regular holders (prongs with gradient blue labels). My understanding is that all world coins had to go Secure Plus. Did PCGS recently change it's policy?

Dennis88 · May 25, 2014 2:20PM

<< I've seen a number of world coins offered recently in NEW style PCGS regular holders (prongs with gradient blue labels). My understanding is that all world coins had to go Secure Plus. Did PCGS recently change it's policy? >>

I asked a similar question recently as I noticed the same. I'm looking forward to getting an accurate answer.

Dennis

OriginalDan · May 25, 2014 2:21PM

for example

MrEureka · May 25, 2014 5:26PM

That's good news.

SYRACUSIAN · May 25, 2014 7:21PM

I concur, but I enjoyed the Secure Plus images, even if they were intentionally inferior to TrueView. Maybe they thought that it's time to increase the demand for images.

coinkat · May 25, 2014 9:33PM

Looking at the number of coins listed and those in new holders, I wonder if a bulk submission makes any difference... just thinking whether that is even a possibility.

The seller's listing perhaps is helping the cause by illustrating that a market for 20th century world can be created.

TwoKopeiki · May 25, 2014 10:04PM

Probably would be easier to contact Greg to figure this out, but my assumption is that he's submitting through Paris.

dbcoin · May 25, 2014 10:08PM

It looks like from their fees page that Secure Plus can be added for some tiers for $5 and is mandatory for others. I know that NGC is cheaper and currently more popular for World Coins. It seems they lowered their fee to match NGC and made the Secure Plus optional

amwldcoin · May 25, 2014 11:49PM

I would wager they were from the pre secure Plus requirement and were reholdered in the new reholder special!

OriginalDan · May 26, 2014 12:55AM

Could be, although I've seen about a dozen or so across different auctions and dealers inventory. I'll see if I can find someone at PCGS who might know what's going on.

lordmarcovan · May 26, 2014 1:01AM

My present submission went in on a CC voucher. I only assume they will come back in Secure Plus holders.

1960NYGiants · May 26, 2014 1:10AM

The Secure Plus for World coins applies for coins dated prior to 1965 and any coin valued at $50,000 or more.

Lord M - my last CC voucher was for Greyside Victorian and were returned in Secure Plus holders (April 2014).

Original Dan - that holder pre-dates the Secure Plus requirement.

OriginalDan · May 26, 2014 1:16AM

<< The Secure Plus for World coins applies for coins dated prior to 1965 and any coin valued at $50,000 or more.

Lord M - my last CC voucher was for Greyside Victorian and were returned in Secure Plus holders (April 2014).

Original Dan - that holder pre-dates the Secure Plus requirement. >>

No, the linked coin above was holdered in 2014.

OriginalDan · May 26, 2014 1:22AM

Found this thread pointing out the slab type. That thread says that some world coins at the 2014 Long Beach show were holdered like this, although still no explanation as to why we are seeing Pre-1965 world coins outside of SP holders.

1960NYGiants · May 26, 2014 1:56AM

HMM - I wonder if they were using up old stock labels / holders?

I have some pieces in holders just like that from prior to the Secure Plus requirement.

Correction to 2nd line: those holders have moderns in them. No Secure Plus labels. We'll have to wait for the official PCGS response.

EVillageProwler · May 26, 2014 2:17AM

Dan - you should contact Greg about this. He and I chatted about this recently, but I don't remember what he exactly said but I believe our conclusion was that this was against the terms of the submission tier.

You may also want to contact PCGS so you can compare official and real world responses.

EVP

mudskippie · May 26, 2014 4:44AM

These were probably graded prior to secure plus requirement and were recently submitted for the special $5 reholder service?

SYRACUSIAN · May 26, 2014 5:52AM

<< Probably would be easier to contact Greg to figure this out, but my assumption is that he's submitting through Paris. >>

Roman, your assumption is wrong. He doesn't

- because it doesn't make sense for a CA resident to submit through Paris
- because Paris is 50% more expensive to Collector's Universe members due to their services in euros (even I don't submit to Paris)
- and because Paris is 80%-100% more expensive to Greg , who enjoys special prices with over 1000 submissions per month, without counting the shipping fees.

OriginalDan · May 28, 2014 2:15AM

Update, PCGS is looking into it. Doesn't sound like there's a policy change.

marcmoish · May 28, 2014 4:15AM

When our hosts will LOWER their fees to match you know who ..many will come back, including me - as much as I prefer our hosts holders, and all - it is totally insane to pay so much more. I share many others who tell me exactly the same. This comment probably belongs in the love affair thread..

coinkat · May 30, 2014 9:57AM

Given the number of World coins and collectors, one would think there is untapped market that seems poised for growth if a submission program were created for lower end 20th century valued coins.

SYRACUSIAN · May 30, 2014 5:13PM

Last night, I've received the following reply by Greg, who after reading this thread asked me to post it on his behalf:

"Four of my recent invoices (about 700 coins total) came back without the Secure Plus insert. They were submitted under the World Economy tier which must be Secure Plus and I paid the appropriate fees for this tier. From what I can tell, the coins were imaged fully on two of invoices, imaged partially on another invoice, and not imaged at all on one of the invoices. Three of my submissions show on the submission status service level as World-Circulated when they should have shown as World-Economy. They originally showed as Circulated when first showing up online. I've never heard of World-Circulated before. The fourth showed up as World-Economy (no images).

This isn't the first time I've had non-modern world coin invoices come back without the Secure Plus insert. I've also had non-Secure Plus modern submissions come back with the Secure Plus insert and they were imaged. Not sure why and I honestly don't care if they are Secure Plus or not.

Unfortunately, I believe that PCGS has no intention of removing the requirement that all non-modern world coins be submitted under the much more expensive Secure Plus tiers. PCGS has made dramatic strides in improving their world coin abilities, but the significantly higher cost of submitting to PCGS is only going to push more world coins toward NGC who are already by far the leader in world coin grading.

Greg "

Greig · May 30, 2014 10:21PM

I agree with Greg's comments about NGC beginning to develop a lead over PCGS with world coins. I have a group of uncirculated non-US coins I am going to sell after grading and, for the first time ever, I am going to send them to NGC. The price differential for grading is just too steep, especially for coins of moderate value ($75-$150). (I do still use PCGS for Registry sets.)

EVillageProwler · May 30, 2014 11:25PM

<< I agree with Greg's comments about NGC beginning to develop a lead over PCGS with world coins. >>

"beginning to develop"??? - I think that "beginning" began many years ago and the lead of NGC over PCGS in the world market is long developed. The increased price pressure here can only widen the market gap in favor of NGC.

EVP

SYRACUSIAN · June 1, 2014 1:36AM

I don't disagree, but I find it amusing that Greg posts something of the sort, with his silly ban still in place, and him submitting over 600-700+ coins to PCGS monthly.

dbcoin · June 5, 2014 1:15AM

<< I don't disagree, but I find it amusing that Greg posts something of the sort, with his silly ban still in place, and him submitting over 600-700+ coins to PCGS monthly.

>>

Who is Greg and what is banned? you can PM me if you don't want to post it here

EVillageProwler · June 5, 2014 7:45AM

<< Who is Greg and what is banned? you can PM me if you don't want to post it here >>

Hehe. Snicker, snicker. The story of his banishment is one for the ages, and is public (albeit ancient) knowledge. But, I think only old-time lite-siders know the story.

(Don't ask me to tell the story, because I only remember parts of it. Also, Greg remembers it differently than I do.)

EVP

dbcoin · June 12, 2014 3:42AM

<< I don't disagree, but I find it amusing that Greg posts something of the sort, with his silly ban still in place, and him submitting over 600-700+ coins to PCGS monthly.

>>

Greg just posted ATS that NGC wouldn't accept a show submission at Long Beach as he was "late". So he walked over to the PCGS table with his $2K worth of submission fees

PCGS Secure Plus no longer required for world coins?

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