What do you think about the TPGS practice of charging a price based on the assigned grade?
Insider2
Posts: 14,452 ✭✭✭✭✭
I've learned that for some bulk lots, the submitter pays different prices based on the grade the coin receives.
What do you think about the TPGS practice of charging a price based on the assigned grade?
This is a private poll: no-one will see what you voted for.
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short on cash, don't wear glasses
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Bronze Associate member
Isn't that SGS???
Do not use it.
However, if the additional fees include certain guarantees normally not included and are over and above regular grading, it is probably ok. One would have to be very cautious agreeing to such fees and read the tiny small print before agreeing.
I think they would counter that they are charging based on the VALUE of the coins graded. Which sounds a little better, since it's in keeping with the rest of their tiered system.....but of course, it's nearly the same thing.
I would not trust grades from a TPG that get paid more for grading a coin higher....might be a bit of a conflict of interest
Just sayin'
Objectivity requires there be no quid pro quo.
But they all do it. Don't you think they can still be objective? If not, it might hurt their reputation.
I've never used the option, but don't mind it at all.
This may or may not be one of the programs you are referring to, if I understand the process correctly, one may ask for a minimum grade on bulk lots below which a coin will not be encapsulated and the two pools of coins are charged different amounts. In other words, $X for each coin below the threshold and $X+Y for all coins at or above the threshold that are encapsulated. In this scenario the graders do not know the threshold or even the fact that this option is in effect.
In honor of the memory of Cpl. Michael E. Thompson
Authentication and "grading" must be objective. It must not be tainted by money, influence, or presumed "value" or presumed "grade."
yeah, what the poster said.
They should get together with CAC and add beans for an extra charge.
Well, that means that you two don't trust the grades assigned by the four major grading services. Do you ever have your coins graded?
I've never liked the practice. The stamp expertizers have been doing it this way since the beginning: minimum fee or 2% of catalogue value. This has become a huge issue as the catalogue value is grossly inflated. For example, a U.S. number 1 still has a $500 catalogue value but they sell for $75-$100. When the retail value is actually around 15% of catalogue, 2% of catalogue is 15% of the sale price!
It provides incentive for higher grades, which affects the accuracy. Thus, I do not like it nor use it.
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CCAC Representative of the General Public
2021 Young Numismatist of the Year
Wow, such negativity towards our hosts.
TomB has it right.
.> @dbldie55 said:
The OP didn’t specify a specific service.
I guess I'm too innocent. I don't think the graders would be influenced. I've heard tales of dealers squawking when they don't get the grades they think they deserve. In fact - except in cases of inattention or error - I'll bet if any professional grader were to grade a coin differently than it actually was - they were aware they did it! Now, how long will a person like that be able to hide what he does?
.> @Insider2 said:
You innocent?
I think that this applies to modern error coins, but i do not know that for a fact. On coins over 75-100 years old it may take 10-20 submissions to attain grades of 67-68. And then they are overgraded........ Problem is that we do not know the date of grading nor do we know how many times the coin has been submitted.
OINK
so, if it is a 65 I pay more than a 63?
Why would they ever grade it lower?
Pass, stupid idea.
BHNC #203
I believe TomB is correct....If it were a case of profit before integrity, would not we, as collectors, be complaining En Masse about thousands and thousands of over graded coins? Sure, as a submitter, one may be pleased at results... but buyers of slabbed coins would be screaming. Cheers, RickO
all i meant was is do not give them a reason to go playing with the grades money wise. no harm was meant