Today is the day......
JeffMTampa
Posts: 3,314 ✭✭✭✭✭
Today is the day that the PCGS Coins Certified count should reach 36 Million. They reached 35 Million on Jan. 23, 2017, so it took about 4 months to grade a million coins.
That's a lot.
I love them Barber Halves.....
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That sure is a lot
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I think I understand the wait times now.
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And it happened. This morning the ticker reads 36,002,119.
So 35 million took 30 years and they are on pace for over 2 million this year.... sounds like solid advances and I'm thinking I should toss some money into the stock
Successful trades.... MichaelDixon,
Think of how much space 36 million slabbed coins would occupy.
Does this mean there's 1.8 Million Blue Boxes floating around?
Something doesn't sound right.
1,000,000 coins in 4 months?
That's roughly 8300 coins a day (if they work 7 days a week.)
1,042 coins an hour (if they work 9-5)
17 coins per minute
If nobody has to use the bathroom...
How is this even possible? How many people do they have grading coins, and how much attention is paid to each one?
I always thought of my stuff going through a rigorous series of tests and spirited debate, only to be "finalized" by the guy with brass on his collar.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
I've tracking and recording the daily count for about a year now. PCGS is averaging about 60K per week, but have gone over 100K for a week. I'm sure bulk submissions have something to do with that.
They're actually on pace to grade about 3 million coins this year. It makes me realize how unimportant a customer I really am.....
Collector, occasional seller
Does this number now include Europe and Asia?
Wonder what the % is from this total that is representative of crack outs/resubs.
I imagine somewhere in the area of 93 to 94 percent....
As stated on a few occasions, according to their last annual report they have 35 coin graders on 3 continents. So grading occurs somewhere almost 24-7. Most of those 1M coins are bulk submissions of Eagles and other Modern stuff which can be graded in 3-5 seconds.
That is a rigorous pace. I spent many years in manufacturing (I realize coin grading is not manufacturing, however is IS a process - and as such, is comparable and measurable). The grading process is (AFAIK) strictly human... so, accounting for absences must be considered, but there is likely no mechanical breakdowns (barring power failures for lighting). The photo process, sniffer and slabber would be other potential bottlenecks, each of which could be subject to mechanical anomalies. So, overall, volume is likely the key ingredient in cycle time and output. That would only be rectified by adding resources - i.e. humans and equipment. Fairly simple when one analyzes it. Cheers, RickO