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GSA Graded Morgan Dollars. Will PCGS ever compete with NGC?
Jinx86
Posts: 3,710 ✭✭✭✭✭
Just before I left for my yearly National Guard AT, I sent off a large lot of choice GSA's and Redfields that are quite substantial. They arrived back it to my shock many had graded 1-2.5 grades higher than we would have ever expected. Yes great pay out, yet when compared side by side with PCGS graded coins for the same date/mm some are sub par. One that me and another had pegged at 64+, 65 on a good day, came back as a sorry 66+ GSA. All I could do was shake my head.
Does NGC have copyright over banding holders? If so how can PCGS compete with their monstrously oversized holders.
NGC graded pieces are bringing a substantial premium to PCGS graded pieces. Holder had everything to do with it?
Beer fueled, post AT rant
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I send Redfield's in all the time and NGC has not been giving the store away at all. What was the highest graded Redfield and do you have an image?
NGC also uses bag holders in addition to band holders. This is one of R.E. Cox Jr's personal holders encapsulated by NGC, currently being offered by Julian. Will PCGS encapsulate a holder like this?
I see this pieces as quite a bit more of a rarity than a GSA's or Redfield Morgan. I doubt PCGS would holder it as they don't have a holder in place for such a thing nor would they as they wouldn't have the cost/benefit to. No doubt NGC did their due diligence to be certain the original holder was free of any chemicals that would affect the coins long term storage or they would have placed it in a holder, this I do believe.
So, if NGC thought the coin was stable, they would have taken it out of the Cox holder and put it into a standard slab?
Like the Redfield coins, NGC disclaims any warranty on this.
For the higher end, 4-figure+ GSA coins I much prefer the protection of PCGS's scuba slab even if it won't fit back in the box. For the lesser ones the NGC / ANACS ribbon is more convenient.
Personally, I keep my GSA coins in their original holders. I have several (CC's) that I got in unopened boxes... and though I opened them, I want to keep them 'as is'...not concerned about slabbing. Cheers, RickO
Agree. The original holders are both attractive and part of their historical appeal. Why add more layers between you and the coin?
Although I agree with the statement PCGS made about putting them in plastic I do not like them and will not submit any GSA or Redfield coins to PCGS. A high majority want the GSA holders to be in the original boxes and with the coffin holder that is used it is not possible to keep them that way.
Really? Are u kidding?
PCGS is kicking NGC's rear in all areas.
Looking at sales of GSA Morgans I would have to argue that. In this one aspect I do believe NGC has the upper hand.
While this is a legitimate concern, the market's rejection of that concern will put pressure on PCGS to become not so concerned.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
NGC was doing it with the band for so many years before the PCGS coffin came out that PCGS will never catch up. Collectors of graded GSA's have long understood that NGC is the only real game in town. I doubt very much that that will change by any substantial degree.
I won't buy one in a coffin (well I will, but it will be immediately cracked out).
bob
I bought some when Nixon was selling. Started collecting many years later and joined PCGS and had 8 of them graded under the 8 "free" program. They cracked them out and noted on the label that they were GSA. I got disgusted and broke them out and put them in a Nevada shaped holder for CC dollars.
It was a downhill experience that I was not aware of. Oh Well!!
What did they grade at and what dates?
All my GSA's are NGC graded. Pcgs graded seem to bring less money and most that I look at seem to me, to be graded more loosely than my NGC ones. I think this is why they bring less money. I have owned two PCGS graded GSA's and have cracked both that crossed at grade. I looked them over very carefully before purchase to see if I agreed with the grade. I have passed on many because they were not up to snuff with my grading standard of GSA's. My offers on the PCGS graded coins in this series reflect my opinion of grade. This will usually be met with a "but that is XX graded money".
Rainbow Stars
@Zoins THAT IS SWEET! I wish PCGS would slab their David Hall numismatic investment group flips in a flip like that.
So where did you send the coins to be graded? That is unclear to me.
NGC, not because they are conservative in terms of grading, but for the reason of resale. NGC graded GSA's are what the public wants.
I would like that, particularly if PCGS assigned a grade. But I don't see it happening.
Few of R. E. Cox's custom-holdered coins survived. I've seen three now. My 1807 O.114 large stars is one. A lovely toned, but lightly wiped rarity still in its holder 60 years later. Cox's ledger shows the cost, $50 plus $4.75 for the Art Craft holder. Cox purchased this coin from B. Max Mehl January 2, 1958.
In a recent auction Sheridan Downey wrote:
"Robert Earl Cox was the preeminent collector of United States Half-Dollars in the years preceding Stack’s sale of his collection in April 1962. (Metro. NY Numis. Conv. Sale, April 26-28, 1962.) His virtually complete collection encompassed the gamut of 50¢ pieces. It commenced with a VF specimen in copper of Peter Getz’ 1792 depiction of George Washington and ended with a date set of uncirculated and proof Franklin half-dollars. It included patterns, errors, die and hub trials, fantasy pieces, commemoratives halves and the territorial issues of Hawaii."
Lance.