PCGS graded 3,177,833 coins in the last 12 months........
Goldbully
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Goldbully
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Is there a year by year graph?
Pretty surprising how few coins are details in my opinion. Little over 1% received "cleaned". I would have imagined it to be a much larger portion.
Well, that's an average of 362.76 coins per hour, 24/7. I'm not say that that's unreasonably high or unreasonably low. I have no idea how many person-hours PCGS logs per year in grading coins, or the average time it takes to grade a coin.
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so if we call it a 300 day work year, weekends/holidays excluded, they graded 10.5k coins a day.
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Yep, no doubt about it. So much for coins being rare.
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
Findley Ridge Collection
About Findley Ridge
Wow. I wonder how many people do they have grading on any given day.
Interesting that counterfeits were higher than questionable color.
Pre-1965, especially classic coins are becoming a smaller and smaller part of the coins submitted.
I know that when I submit, I receive over 1% cleaned or such
How long does it take to grade 1000s of this:
http://m.ebay.com/itm/232062268902
Why bother grading this? And who buys these graded coins BTW, do they understand grading?
$199, its a deal,buy it before someone does...
with ~3.2 million coins graded
only on ~250 "business days"
by 2 independent graders (ignoring any additional tie breaking grader) per coin
A minimum average of ~25,000 grading opinions are made per day.
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It was to my understanding that each grader grades a coin every six seconds.
Being a math major i had to do my own back of the envelope calculations (SORRY! could not resist)
3,177,833 in 12 months
so that's 265,000 on average per month
There is an average of 22 business days in each month
So that's about 12,000 coins graded per business day
There are 8 hours in each business day
So that's 1,500 coins graded per hour
60 minutes in each hour
So that's 25 coins graded per minute
Let's say PCGS has 4 grading teams (not exactly sure of that exact number)
So that's 6 coins graded per minute for each grading team.
So each grading team grades 1 coin every 10 seconds
If each grading team has 3 people on it (which I believe is correct)
Each person on that team has 3 seconds to look at each coin
That's with no breaks and not including time out for vacation or shows
Kind of amazing numbers
I think I would need more than 3 seconds to grade a coin.
But then again I might be considered slow by industry standards!
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Seriously, is that breakdown made public? My question is how much is bullion and NCLT mint releases? I know my comment above was somewhat facetious but It is my belief that publishing these monster numbers (and don't forget they do quite a bit ATS) hurts perception of rarity and the hobby in general.
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
Findley Ridge Collection
About Findley Ridge
PCGS says: "Plus Grades" exhibit exceptional eye appeal for the grade and constitute the top 30% of the coins in the grade.
And yet only one out of every 60 gets it. Factor out those ineligible and it's is still remarkably low.
Lance.
FYI - they have graders in China now so you have to start thinking 24/7. Approx 400K Chinese Modern coins were graded in the December quarter alone by those graders with the start up of the China Mint relationship. They can probably grade those in seconds. Modern coins can be graded in a fraction of the time that Vintage coins can be graded in. I believe last annual report said they have 35 graders worldwide.
Very impressive.... that is an incredible amount of coins being slabbed.... I wonder how long the quantity of coins worth grading (not counting moderns) will last... and not counting re-submissions... How deep is the well?
Cheers, RickO
Seems very deep........
Subtract out all of the brand new bullion coins they grade each year... None of those should ever be "cleaned" as they arrive still in the Mint packaging. Then you might get a more meaningful percentage.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
I would guess the percentage of never-before-graded classic US coinage is minuscule. I'd guess 80% of the coins graded got either a 69 or 70 grade. A large part of what's left is regrades & crackouts.
Interesting to consider the experience of a professional grader..... At a big show I look at plenty of coins and formulate my own grading opinions. In reality, I probably look at a few hundred and carefully at only a few dozen. I do this a handful of times per year. A pro grader would see my yearly quota before lunch.
So that's why it takes 1-2 months to get a couple of coins graded.