PCGS-mart?

joeykoins · December 1, 2019 12:27PM

This question might have been asked? It would be so awesome if PCGS opened a local store for grading. Or even selling some of their products? Wouldn't be nice for us collectors to have the privilege, just to walk or travel a short distance to have our coins graded by our Host? Think of how easy, quick and convenient this would be. Why do you suppose PCGS never had this take place? Is it because of not enough of traffic? Maybe, too much work? Who know's? Maybe, they just haven't thought of this sort of business move? Think of the possibilities? For us collector's, as well as, for PCGS. To build at least one per big city or town? Downtown Chicago was recently presented with a new concept for Starbucks! They gambled by building a 5 story Starbucks. Right in the heart of Michigan Ave. I think this was a great move and business transaction. Everyday that store is packed with customers. Maybe, PCGS can also gamble in this new direction. What do you guy's think. Thanks in Advance.

MasonG · December 1, 2019 12:30PM

I think if PCGS thought this would be a financially practical idea, they'd have already done it.

MFeld · December 1, 2019 12:34PM

I don’t think they would generate enough extra business to cover the added cost of additional graders, equipment, and other expenses. It would also be a challenge with with respect to grading consistency.

jt88 · December 1, 2019 12:39PM

I like the idea as collector

coinbuf · December 1, 2019 12:40PM

I'm guessing that you have never looked into the costs of operating a storefront in a major market.

joeykoins · December 1, 2019 12:49PM

@coinbuf said:
I'm guessing that you have never looked into the costs of operating a storefront in a major market.

Sure, I considered the overhead. I have a close Dealer friend that always mentions this. Even if they started with a small shop? I'm pretty certain our host has the revenue.

joeykoins · December 1, 2019 12:51PM

How 'bout opening a shop just for selling coins? Just for starters, to see if their customers ask about the grading aspect?
On our side, think of this. Say you go into their store at 9AM. Leave them a coin to grade. Then they say, " come back in 8 hrs. How great would this be? Even if PCGS would have to charge at a high premium. I for one, would gladly pay it.

coinbuf · December 1, 2019 12:55PM

its a very bad idea on many levels to be grading and selling your product, very bad. And considering it as opposed to actually going out and finding out just how much retail space costs per month, plus all the costs to operate that space are two very different things. And another thing you have left out is where are you going to get the hundreds of qualified graders for this?

Pedzola · December 1, 2019 12:56PM

Maybe a better idea would be for PCGS to have a "branch office" on the East Coast, to cut down shipping time/cost for half the country.

MFeld · December 1, 2019 12:58PM

@joeykoins said:
How 'bout opening a shop just for selling coins? Just for starters, to see if their customers ask about the grading aspect? On our side, think of this. Say you go into their store at 9AM. Leave them a coin to grade. Then they say, " come back in 8 hrs. How great would this be? Even if PCGS would have to charge at a high premium. I for one, would gladly pay it.

They aren’t in the business of buying and selling coins.

Would you gladly pay $200 per coin for grading?

johnny9434 · December 1, 2019 1:07PM

The Internet and sending it
In via snail mail is more plausible then the store jmo

MasonG · December 1, 2019 1:08PM

@Pedzola said:
Maybe a better idea would be for PCGS to have a "branch office" on the East Coast, to cut down shipping time/cost for half the country.

Opening another office would cost a lot of money. How would doing so enable PCGS to earn enough to make it practical?

jmlanzaf · December 1, 2019 1:09PM

@joeykoins said:
This question might have been asked? It would be so awesome if PCGS opened a local store for grading. Or even selling some of their products? Wouldn't be nice for us collectors to have the privilege, just to walk or travel a short distance to have our coins graded by our Host? Think of how easy, quick and convenient this would be. Why do you suppose PCGS never had this take place? Is it because of not enough of traffic? Maybe, too much work? Who know's? Maybe, they just haven't thought of this sort of business move? Think of the possibilities? For us collector's, as well as, for PCGS. To build at least one per big city or town? Downtown Chicago was recently presented with a new concept for Starbucks! They gambled by building a 5 story Starbucks. Right in the heart of Michigan Ave. I think this was a great move and business transaction. Everyday that store is packed with customers. Maybe, PCGS can also gamble in this new direction. What do you guy's think. Thanks in Advance.

That would be a tremendous money loser. That's why. What do you think the volume would be for one retail establishment? Do you really think they would have graders at each site or just be a trans-shipping location? If they are just trans-shipping, what is the point? If they have graders, the cost would far exceed any revenue.

Starbucks? Really? That's your comparison. I drink coffee every day. Who submits coins every day?

coinbuf · December 1, 2019 1:11PM

@Pedzola said:
Maybe a better idea would be for PCGS to have a "branch office" on the East Coast, to cut down shipping time/cost for half the country.

Yes double costs for the same income, sounds like a solid business model.

jmlanzaf · December 1, 2019 1:12PM

@joeykoins said:
How 'bout opening a shop just for selling coins? Just for starters, to see if their customers ask about the grading aspect?
On our side, think of this. Say you go into their store at 9AM. Leave them a coin to grade. Then they say, " come back in 8 hrs. How great would this be? Even if PCGS would have to charge at a high premium. I for one, would gladly pay it.

Even worse idea. How objective is my grader if they are selling the result of the grading?

What makes you think PCGS knows anything about selling coins?

If you want to pay extra for 8 hour service, you can do it now. Buy a plane ticket to a big show and pay $150 for walk-through service.

joeykoins · December 1, 2019 1:16PM

@MFeld said:

@joeykoins said:
How 'bout opening a shop just for selling coins? Just for starters, to see if their customers ask about the grading aspect? On our side, think of this. Say you go into their store at 9AM. Leave them a coin to grade. Then they say, " come back in 8 hrs. How great would this be? Even if PCGS would have to charge at a high premium. I for one, would gladly pay it.

They aren’t in the business of buying and selling coins.

Would you gladly pay $200 per coin for grading?

Com'on, you know that figure you thrown out there would be ridiculous. Maybe, $100? Of course it all depends on your coin's value. If, maybe, my coin was worth, $2 or $3000? Then, maybe I'll pay the $200?

opportunity · December 1, 2019 1:18PM

@Pedzola said:
Maybe a better idea would be for PCGS to have a "branch office" on the East Coast, to cut down shipping time/cost for half the country.

Priority shipping is 2-3 days regardless of how far you're shipping.

joeykoins · December 1, 2019 1:25PM

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amwldcoin · December 1, 2019 1:32PM

I'm sure PCGS could find alternate locations from the expensive area they are in and operate 2 locations for the price they are paying where they are now! There is no reason for them to be in an expensive location...it would not effect their business even if they were located in the desert!

@MasonG said:

@Pedzola said:
Maybe a better idea would be for PCGS to have a "branch office" on the East Coast, to cut down shipping time/cost for half the country.

Opening another office would cost a lot of money. How would doing so enable PCGS to earn enough to make it practical?

MasonG · December 1, 2019 1:42PM

One poster wants a location on the east coast to cut down on shipping time/cost and another says it wouldn't affect their business even if they relocated to the desert. I'm sensing the lack of a coherent plan here.

MasonG · December 1, 2019 1:46PM

@amwldcoin said:
I'm sure PCGS could find alternate locations from the expensive area they are in and operate 2 locations for the price they are paying where they are now! There is no reason for them to be in an expensive location...it would not effect their business even if they were located in the desert!

Assuming this is so, PCGS would already be aware of this, would they not? The fact they are not making such a move would seem to indicate there is something posters advocating the move are not considering, that PCGS is.

amwldcoin · December 1, 2019 1:53PM

My point about the desert was an extreme example. My point is they could have 2 locations one on each side of the country for the cost of being where they are now. PCGS should look into state taxes, real estate costs, etc. Case and point...it came up in a discussion somewhere the new graders are now paid 60K per year...that's pretty close to poverty level where PCGS is located and would be 3 times it where I live.

@MasonG said:
One poster wants a location on the east coast to cut down on shipping time/cost and another says it wouldn't affect their business even if they relocated to the desert. I'm sensing the lack of a coherent plan here.

GRANDAM · December 1, 2019 2:10PM

@MasonG said:
One poster wants a location on the east coast to cut down on shipping time/cost and another says it wouldn't affect their business even if they relocated to the desert. I'm sensing the lack of a coherent plan here.

PCGS viva Las Vegas baby, what grades in Vegas stays in Vegas,,,,,,,,

MFeld · December 1, 2019 2:13PM

@joeykoins said:

@MFeld said:

@joeykoins said:
How 'bout opening a shop just for selling coins? Just for starters, to see if their customers ask about the grading aspect? On our side, think of this. Say you go into their store at 9AM. Leave them a coin to grade. Then they say, " come back in 8 hrs. How great would this be? Even if PCGS would have to charge at a high premium. I for one, would gladly pay it.

They aren’t in the business of buying and selling coins.

Would you gladly pay $200 per coin for grading?

Com'on, you know that figure you thrown out there would be ridiculous. Maybe, $100? Of course it all depends on your coin's value. If, maybe, my coin was worth, $2 or $3000? Then, maybe I'll pay the $200?

If you submit fewer than 5 coins at a time for show grading, it costs $150/coin. And that service is typically slower than your suggested 8 hrs. So my $200 example wasn’t ridiculous, after all. Regardless, the one-sided nature of the feedback you’ve received thus far speaks for itself.

MasonG · December 1, 2019 2:19PM

@amwldcoin said:
PCGS should look into state taxes, real estate costs, etc.

Assessing expenses is a common thing for companies to do. Do you have reason to believe PCGS hasn't?

amwldcoin · December 1, 2019 2:48PM

What ever their reason for setting up business where they do is their business. I'm sure everyone with any financial where with all understands PCGS could save a ton of money if they set up shop somewhere else. Their location would have no bearing on their business what so ever in my opinion.

@MasonG said:

@amwldcoin said:
PCGS should look into state taxes, real estate costs, etc.

Assessing expenses is a common thing for companies to do. Do you have reason to believe PCGS hasn't?

Pedzola · December 1, 2019 2:53PM

I live in New England. I have always paid much more in shipping / insurance than grading fees when submitting to PCGS. I've also submitted to another grading service because of faster shipping times vs PCGS.

So from a customer perspective, PCGS services would be more attractive if they had an East Coast address.

Whether it makes business sense or not to open an office 2-3 thousand miles East... dunno, but would love to see it.

MasonG · December 1, 2019 2:55PM

@amwldcoin said:
What ever their reason for setting up business where they do is their business. I'm sure everyone with any financial where with all understands PCGS could save a ton of money if they set up shop somewhere else. Their location would have no bearing on their business what so ever in my opinion.

Either PCGS understands this yet remains where they are for reasons that make sense to them, or they do not. I think they know what they're doing- what do you think?

amwldcoin · December 1, 2019 2:59PM

Now that PCGS is being more influenced by corporate money crunchers it might just be they will realize how much they could save by relocating. Time will tell!

@MasonG said:

@amwldcoin said:
What ever their reason for setting up business where they do is their business. I'm sure everyone with any financial where with all understands PCGS could save a ton of money if they set up shop somewhere else. Their location would have no bearing on their business what so ever in my opinion.

Either PCGS understands this yet remains where they are for reasons that make sense to them, or they do not. I think they know what they're doing- what do you think?

jedm · December 1, 2019 3:16PM

Patience is a virtue Grasshopper.

NSP · December 1, 2019 4:07PM

The reason why this isn’t already the case is probably because of an economies of scale thing. Companies like Starbucks have figured out that many small locations are more efficient than one big location. The company that builds our Navy’s aircraft carriers has determined that one big location is more efficient than many small locations. Evidently PCGS believes that they are more efficient with one big location than multiple smaller locations.

Opening smaller PCGS locations would require slabbing equipment, grading equipment, security systems, reference libraries, more administrative personnel, etc. for them to be successful. I doubt they’d be able to make enough money to justify the cost of doing this.

ricko · December 1, 2019 4:36PM

Not only would a separate location (i.e. East coast) entail major costs in equipment and resources, consider the grading itself....right now, coins are processed through set operation, with people trained to the same rigors...an East Coast location would eventually become a separate grading system.... can you see the chatter here on the forum? Send it East, they grade more generously than the West...etc., etc......No, they have their business model and setting up one or more facilities would be a horrendous cost in addition to the other issues. Cheers, RickO

Justacommeman · December 1, 2019 5:59PM

@ricko said:
Not only would a separate location (i.e. East coast) entail major costs in equipment and resources, consider the grading itself....right now, coins are processed through set operation, with people trained to the same rigors...an East Coast location would eventually become a separate grading system.... can you see the chatter here on the forum? Send it East, they grade more generously than the West...etc., etc......No, they have their business model and setting up one or more facilities would be a horrendous cost in addition to the other issues. Cheers, RickO

I was just going to mention this. Also to talk to the OP’s original idea it takes several graders and a finalizer to grade one coin. That amount of annual salary might be 750K. Plus there is a finite amount of ace graders.

m

BryceM · December 1, 2019 6:29PM

They already do this. It's called show grading, and they do travel all over the country.

https://www.pcgs.com/shows

Coinstartled · December 1, 2019 8:49PM

@joeykoins said:
To build at least one per big city or town? Downtown Chicago was recently presented with a new concept for Starbucks! They gambled by building a 5 story Starbucks.

Star Bucks would be a good name for a grading franchise.

topstuf · December 1, 2019 8:58PM

They could staff a Grademobile and cruise the neighborhoods.

coinbuf · December 1, 2019 9:39PM

@topstuf said:
They could staff a Grademobile and cruise the neighborhoods.

Uber grades?

jmlanzaf · December 2, 2019 5:31AM

@MasonG said:

@amwldcoin said:
I'm sure PCGS could find alternate locations from the expensive area they are in and operate 2 locations for the price they are paying where they are now! There is no reason for them to be in an expensive location...it would not effect their business even if they were located in the desert!

Assuming this is so, PCGS would already be aware of this, would they not? The fact they are not making such a move would seem to indicate there is something posters advocating the move are not considering, that PCGS is.

America is a funny place these days. Americans seem to simultaneously believe that corporations are clever robber-barons who have stolen everyone's money and absolute morons incapable of running their businesses properly.

jmlanzaf · December 2, 2019 5:36AM

@amwldcoin said:
What ever their reason for setting up business where they do is their business. I'm sure everyone with any financial where with all understands PCGS could save a ton of money if they set up shop somewhere else. Their location would have no bearing on their business what so ever in my opinion.

@MasonG said:

@amwldcoin said:
PCGS should look into state taxes, real estate costs, etc.

Assessing expenses is a common thing for companies to do. Do you have reason to believe PCGS hasn't?

If that were true, there would be NO businesses in California other than local service industries.

1630Boston · December 2, 2019 6:04AM

@topstuf said They could staff a Grademobile and cruise the neighborhoods.

Similar to this ???

Borrowed this from @mkman123 's thread https://forums.collectors.com/discussion/1017927/coin-shop-truck

https://youtu.be/dO7fvea5xKk
https://youtu.be/OkTABoNJtsI

Broadstruck · December 2, 2019 11:45AM

There's still a lot of Fotomat booths they could lease for really cheap I bet

jmlanzaf · December 2, 2019 11:51AM

@Broadstruck said:
There's still a lot of Fotomat booths they could lease for really cheap I bet

Shouldn't they just buy Starbucks so there are grading services available on every street corner?

Or maybe they should buy FedEx, then they could save minutes in shipping time!

Given all the old folks in the hobby, maybe the best bet would be to actually do in-house slabbing. I mean, it's crazy in this day and age that I can't just go on the internet, select a tier of service and have them show up at my door the same day. The cable guy does, why can't the coin guy?

jmlanzaf · December 2, 2019 11:57AM

@Coinstartled said:

@joeykoins said:
To build at least one per big city or town? Downtown Chicago was recently presented with a new concept for Starbucks! They gambled by building a 5 story Starbucks.

Star Bucks would be a good name for a grading franchise.

Are you sure NGC hasn't trademarked the "Star"?

Broadstruck · December 2, 2019 12:09PM

@jmlanzaf said:

@Broadstruck said:
There's still a lot of Fotomat booths they could lease for really cheap I bet

Shouldn't they just buy Starbucks so there are grading services available on every street corner?

Or maybe they should buy FedEx, then they could save minutes in shipping time!

Given all the old folks in the hobby, maybe the best bet would be to actually do in-house slabbing. I mean, it's crazy in this day and age that I can't just go on the internet, select a tier of service and have them show up at my door the same day. The cable guy does, why can't the coin guy?

Old Folks... You're on to something maybe they should rent space in RiteAid or Walgreens?

You can get your coins graded while you wait for medicine prescription killing time playing with the free blood pressure machine

jmlanzaf · December 2, 2019 12:11PM

@Broadstruck said:

@jmlanzaf said:

@Broadstruck said:
There's still a lot of Fotomat booths they could lease for really cheap I bet

Shouldn't they just buy Starbucks so there are grading services available on every street corner?

Or maybe they should buy FedEx, then they could save minutes in shipping time!

Given all the old folks in the hobby, maybe the best bet would be to actually do in-house slabbing. I mean, it's crazy in this day and age that I can't just go on the internet, select a tier of service and have them show up at my door the same day. The cable guy does, why can't the coin guy?

Old Folks... You're on to something maybe they should rent space in RiteAid or Walgreens?

You can get your coins graded while you wait for medicine prescription killing time playing with the free blood pressure machine

I can't see any reason why a pharmacist tech couldn't be trained to be a grader and/or finalizer.

And think how much easier it would be to get your parking lot find slabbed if there was a grader in every parking lot.

joeykoins · December 2, 2019 1:28PM

@Broadstruck said:
There's still a lot of Fotomat booths they could lease for really cheap I bet

That's funny! I'm surprised Amazon hasn't jumped on buying all of these to further please their customer's even more. You have to admit, Amazon was truly the first in "Rapid Delivery". What a smart business gimmick! Though I personally, don't purchase something from them every day. I do notice the Amazon truck frequent my block at least twice a day.

Dave99B · December 2, 2019 2:21PM

Will never happen, for a variety of reasons. Plus, it would also lead to crazy questions like:

'Is it true Bakersfield PCGS grades tighter than Des Moines PCGS, but looser than Winnemucca PCGS?'

Dave

jmlanzaf · December 2, 2019 2:44PM

@Dave99B said:
Will never happen, for a variety of reasons. Plus, it would also lead to crazy questions like:

'Is it true Bakersfield PCGS grades tighter than Des Moines PCGS, but looser than Winnemucca PCGS?'

Dave

It would make this forum the busiest chat room on the internet. LOL.

Imagine the new numismatic fun someone could have playing the crackout game. You take your Bakersfield slab, crack it out and drive to Des Moines, then crack it out and drive to Chicago...

privatecoin · December 3, 2019 12:07PM

@jmlanzaf said:

@MasonG said:

@amwldcoin said:
I'm sure PCGS could find alternate locations from the expensive area they are in and operate 2 locations for the price they are paying where they are now! There is no reason for them to be in an expensive location...it would not effect their business even if they were located in the desert!

Assuming this is so, PCGS would already be aware of this, would they not? The fact they are not making such a move would seem to indicate there is something posters advocating the move are not considering, that PCGS is.

America is a funny place these days. Americans seem to simultaneously believe that corporations are clever robber-barons who have stolen everyone's money and absolute morons incapable of running their businesses properly.

You're too merciful...

Bullet01 · December 3, 2019 1:53PM

2 locations can be done and has been done in other hobby businesses. Case in point. I'm a sneaker nut and and use a company called GOAT that offers a platform to buy and sell sneaker collections. I list a pair of Jordans, someone buys them and I then send them into GOAT where they check and verify they are not fake sneakers before it gets shipped to the buyer. GOAT takes a fee and the transaction is complete.

When they started, they were based only in Los Angeles so shipping to them and then to the customer took forrrreeevverr when you're on the East Coast. Eventually, business boomed and they opened a 2nd headquarters in New Jersey where everything became much faster and easier no matter where you are located.

PCGS can adopt a similar business model but who knows.

PCGS-mart?

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