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1 year later, and things are slower for getting grades back....
Bochiman
Posts: 25,790 ✭✭✭✭✭
I was just looking at my submissions page, as I wait for my grades, and, since I don't submit much, I only have a few on the screen to see.
Last year, I sent in 2 submissions, CC Voucher and Economy, that arrived on 9/16/2013. CC Voucher was finished on 10/3/2013 and Economy was done 10/17/2013.
This year, I sent in 2 submissions, CC Voucher and CC Quarterly Special (value of coins had me do it as a regular submission), that arrived on 9/19/2014.
So, 3 days later than last year. Both last year's and this year's all had Trueview requested. So, as much as could be done, they are apples to apples comparison on my part.
Still waiting for results.....
Not complaining as it even says that "regular" wait times are 15 working days (tomorrow is 15 of those), but did find it interesting that last year was quicker...just very noticeable.
Last year, I sent in 2 submissions, CC Voucher and Economy, that arrived on 9/16/2013. CC Voucher was finished on 10/3/2013 and Economy was done 10/17/2013.
This year, I sent in 2 submissions, CC Voucher and CC Quarterly Special (value of coins had me do it as a regular submission), that arrived on 9/19/2014.
So, 3 days later than last year. Both last year's and this year's all had Trueview requested. So, as much as could be done, they are apples to apples comparison on my part.
Still waiting for results.....
Not complaining as it even says that "regular" wait times are 15 working days (tomorrow is 15 of those), but did find it interesting that last year was quicker...just very noticeable.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
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Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
- Bob -
MPL's - Lincolns of Color
Central Valley Roosevelts
And, my CLCT has done well enough in the last 12 months not to whine about it.
Like I said, just found it interesting since I had 2 like submissions at almost the same time last year, so it is pretty comparative, timewise (most shows are same each year, etc, so no outside forces, other than speed of graders, when they grab to grade, and volume of coins getting submitted/trueviewed).
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I have thought for a while that PCGS would do better having the economy service really fast, like 5-10 days, and be sticklers about charging the extra amount when a coin grades higher than the $300 value.
If you have some coins that you think might grade OK, you are more likely to have them graded knowing you will have your answer in a week or so. The prospect of waiting 2 months from start to finish could cause many of us to just sell those coins raw, or throw them back in the album or drawer.
Also, if you buy a lot of coins frequently, it is tough to have all that money tied up for 2 months during the grading and shipping process.
Finally, the lower end coin market is dead and getting deader right now. This might breathe a little life into it.
yeah the time waiting for grading never really bugged me as much as...
how a hand full of coins can end up needing a handful of separate sub's and each with separate return shipping
those fees can kill a little guy like me in this hobby
with any luck piggybacking isn't out of fashion these days or frowned upon
<< <i>fingers crossed your wait is worth it's weight in gold my friend...goodluck on grades
yeah the time waiting for grading never really bugged me as much as...
how a hand full of coins can end up needing a handful of separate sub's and each with separate return shipping
those fees can kill a little guy like me in this hobby
with any luck piggybacking isn't out of fashion these days or frowned upon >>
BINGO!
<< <i>I have thought for a while that PCGS would do better having the economy service really fast, like 5-10 days, and be sticklers about charging the extra amount when a coin grades higher than the $300 value.
If you have some coins that you think might grade OK, you are more likely to have them graded knowing you will have your answer in a week or so. The prospect of waiting 2 months from start to finish could cause many of us to just sell those coins raw, or throw them back in the album or drawer.
Also, if you buy a lot of coins frequently, it is tough to have all that money tied up for 2 months during the grading and shipping process.
Finally, the lower end coin market is dead and getting deader right now. This might breathe a little life into it. >>
I like this line of thinking, regardless if they implement the ideas or not.
+ sometimes the longer the wait = the longer the Action...from a former sports gambler; regardless from the final grade of a wager (win/loss/push), the wait was always the best part of the Action
Erik
Best Regards,
George
<< <i>...since collectors like myself will always wait as long as it takes to get my coins back from PCGS...and although maybe a little frustrated sometimes...I'm always happy when they arrive, with full intentions of Always sending my coins to PCGS...I'll bet our Golden Shareholder loves when wait times are heavy, cause alls that means is Money in the bank baby
+ sometimes the longer the wait = the longer the Action...from a former sports gambler; regardless from the final grade of a wager (win/loss/push), the wait was always the best part of the Action
Erik >>
Do long wait times mean the company is being run well? Last year there was a grader crisis or something.
<< <i>
<< <i>...since collectors like myself will always wait as long as it takes to get my coins back from PCGS...and although maybe a little frustrated sometimes...I'm always happy when they arrive, with full intentions of Always sending my coins to PCGS...I'll bet our Golden Shareholder loves when wait times are heavy, cause alls that means is Money in the bank baby
+ sometimes the longer the wait = the longer the Action...from a former sports gambler; regardless from the final grade of a wager (win/loss/push), the wait was always the best part of the Action
Erik >>
Do long wait times mean the company is being run well? Last year there was a grader crisis or something. >>
They hired extra staff and are pushing through more coins this year than last year and still have longer wait times. Volumes are up considerably. the September quarter will be a record. Here is what I said on yahoo a few weeks back on Sep 21:
preliminary Q1 2015 #'s: GAAP 22c, rev $14.8M+, $200K+ cash added
using the 21st of Sept #'s as the cutoff (due to processing delay), I get 504K coins and 420K cards for this current qtr. Cards have been working 7 days/week recently to meet their numbers and move down their excessively long backlog.
That translates to over $13.9M in revenue, add in a little extra for non-card or coin revenue (Expo's, CCE network, digital properties, etc) and I get over $14.8M on revenue.
figure 22c in GAAP earnings and $200K+ in cash added. Q1 warranty costs are down but they typically have capital expenses in this quarter. Hard to predict Tax rate is it varies wildly. Hopefully China losses will narrow. HOF coins and the Kennedy coins were wildly popular and will add to avg ticket price. The card division has its annual big show during this quarter. Card division also did not run its low cost promos this quarter which will add to card avg ticket price.
Last year $14.1M, 20c GAAP, 447K coins and 431K cards, cash BURN of $1.2M. China started up last year in July and that was a big reason for the burn as well as cap ex. Even if cash flow this quarter is break even, that is a huge turn from last years big burn.
I think my estimates have been consistently under estimating their performance.
It would be $500K cash added but they used $300K to buy back 13,600 shares for vesting of exec stock.
Bottom line is, the priority is for the coins that maximize revenue and the rest are done when possible - similar to business models all over the world, whether it's concrete or software.
<< <i>Seems like a long wait, doesn't it??
Bottom line is, the priority is for the coins that maximize revenue and the rest are done when possible - similar to business models all over the world, whether it's concrete or software. >>
Generally, I would agree with you, from the business side of looking at things.
However, when I see something like the below, unless someone actually used express grading on them (and then, I would question THEIR sanity!), I don't see that happening here....
Line # Item # Cert # PCGS No. CoinDate Denomination Variety Country Grade
1 1 30853473 7418 1976 $1 Type 1 USA MS64
2 1 30853474 97437 1977-S $1 USA PR69DC
3 1 30853475 97438 1978-S $1 USA PR69DC
Total Items: 3
Date Received: 10/6/2014
Date Shipped: 10/10/2014
Order Status: Shipped
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Appears to be a dark side coin.
My Washington Type B/C Set
<< <i>
<< <i>Seems like a long wait, doesn't it??
Bottom line is, the priority is for the coins that maximize revenue and the rest are done when possible - similar to business models all over the world, whether it's concrete or software. >>
Generally, I would agree with you, from the business side of looking at things.
However, when I see something like the below, unless someone actually used express grading on them (and then, I would question THEIR sanity!), I don't see that happening here....
Line # Item # Cert # PCGS No. CoinDate Denomination Variety Country Grade
1 1 30853473 7418 1976 $1 Type 1 USA MS64
2 1 30853474 97437 1977-S $1 USA PR69DC
3 1 30853475 97438 1978-S $1 USA PR69DC
Total Items: 3
Date Received: 10/6/2014
Date Shipped: 10/10/2014
Order Status: Shipped >>
Those could have been sent in for TrueView service.
- Bob -
MPL's - Lincolns of Color
Central Valley Roosevelts
<< <i>
<< <i>
<< <i>Seems like a long wait, doesn't it??
Bottom line is, the priority is for the coins that maximize revenue and the rest are done when possible - similar to business models all over the world, whether it's concrete or software. >>
Generally, I would agree with you, from the business side of looking at things.
However, when I see something like the below, unless someone actually used express grading on them (and then, I would question THEIR sanity!), I don't see that happening here....
Line # Item # Cert # PCGS No. CoinDate Denomination Variety Country Grade
1 1 30853473 7418 1976 $1 Type 1 USA MS64
2 1 30853474 97437 1977-S $1 USA PR69DC
3 1 30853475 97438 1978-S $1 USA PR69DC
Total Items: 3
Date Received: 10/6/2014
Date Shipped: 10/10/2014
Order Status: Shipped >>
Those could have been sent in for TrueView service. >>
True. Hadn't thought of that. Thanks for the reality check, Bob.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
And
I am a admitted grades refresher
But
Right and slow is better than fast and wrong
Hopefully they have enough continued business to hire more people.
Happy with about 75% of them. A couple have me shaking my head....quite a bit.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>Done yesterday. Shipped today.
Happy with about 75% of them. A couple have me shaking my head....quite a bit. >>
Well, share the happy thought ones!
My quarterly ones aren't done yet.
<< <i>
<< <i>Done yesterday. Shipped today.
Happy with about 75% of them. A couple have me shaking my head....quite a bit. >>
Well, share the happy thought ones!
My quarterly ones aren't done yet.
Hope yours get done soon!
I've shared the 1910 MPL and the 1953-s Wash Qtr in separate threads already. There are some very common other coins that I just wanted to get graded...I will share them in a bit.
I will add the proof IHCs as well. Just been super busy with the VA and some doctors' appts from it and other things, so doing little by little.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>It bugs me to no end that Economy submissions of collector coins (Morgans, Buffalo Nickels, Mercury Dimes, etc) which are the lifeblood of the TPG's don't carry any more weight time wise than coins minted last year. >>
who says those are their lifeblood? That is incorrect. 1/2 their revenue is coins minted last year.