Changes Coming to PCGS - New Membership Tiers, New Holder
ProofCollection
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According to this video interview with Stephanie Sabin:
PCGS is implementing several innovations and policy changes to make the grading and submission process more accessible and efficient for collectors:
Membership Requirements: PCGS is moving away from the requirement that users must be an authorized dealer or collector member to submit coins. New submission tiers are being introduced specifically for non-members (2:16-2:24).
Submission Platforms: The company is focusing on making online submissions more frictionless and plans to improve the experience for show floor and online services (1:18-1:34).
Local Drop-Offs: To reduce the risks and stress associated with shipping high-value collectibles, PCGS is launching local drop-off events in collaboration with auction houses and dealers (1:48-2:00).
Authentication Partnership: A new program with eBay now ensures that qualifying raw US coins or slabbed US/world coins valued at $500 or more are sent directly to PCGS for authentication before reaching the buyer (2:57-3:07, 3:45-3:54).
Expanding Services: PCGS is expanding its expertise into banknote authentication and grading (1:34-1:37).
Security: A new coin holder with advanced security features is scheduled for release later this year (3:21-3:31, 3:47-3:49).
https://youtu.be/YbeHM6DEIGo?si=41RUEUl7dUz0_x-r
Comments
Interesting news!
We'll see how smooth these transitions will be.
This one is very interesting:
_Membership Requirements: PCGS is moving away from the requirement that users must be an authorized dealer or collector member to submit coins. New submission tiers are being introduced specifically for non-members (2:16-2:24)._
I think this paves the way for allowing Raw coins sold on eBay (that go through Authenticity Guarantee) to also add PCGS Grading to the order. They have this feature with cards (via PSA Grading). And the convenient thing with grading cards -- no paperwork just check the box to add it to the order.
I like the local drop offs. Preparing and mailing submissions gets old fast.
These are good changes IMO.
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I remember watching this a couple days ago, I wonder what the new holder will look like
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I like the present holder, not so much the three prong gasket insert.
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Online submissions are already extremely easy, at least to me. Interested to see what they change in the process.
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I don't care much for the 3-prong gasket either, but I'm not sure if there's a better solution. Some coins have writing on their edges, which you couldn't see in some of the older style holders.
Online submission should allow user to apply coupons first. It should also allow use to put in other to indicate it is return for free submission.
There are plenty of issues with the online submission. First and foremost would be enabling it to do restoration submissions. But there are other frictions as well and lots of room for improvement. But given their reticence to conduct user testing and really understand how we use it, I'm not expecting much.
I wonder if this has anything to do with this error while trying to renew a membership.
No, that's been an issue for a while. I ran into that and found a workaround. Sorry, I don't remember what the workaround was.
The membership thing shoulda ended awhile ago. PSA which is part of the company pcgs is owned by does not require memberships to submit cards. When I first submitted collectible cards I was shocked by the stark contrast.
This ought to really improve turnaround times.
I like a lot of the changes. I do wonder whether allowing submissions without a collectors club membership will hurt revenues though.
I don't mind the membership thing. A platinum level membership costs $249 and you get 8 regular submissions, which is about $10 each off the $42 submission price.
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Isa (she/her)
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There were a couple of years in the past where I was a member and didn't submit any coins. I like the idea of not having to be a (paid) member to send coins in.
Like a collector noted above, I suppose this might increase submissions and subsequently slow-down turn-around times.
My membership is about to auto renew. I probably ought to cancel it.
Done. No more auto renew.
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Any mention on speeding up grading/adding more graders at all by pcgs anywhere?
Thx for posting this. This is yet another example of why PCGS is the gold standard when it comes to coin authentication and grading. Well done!
Dave
I can't see myself getting coins graded directly from eBay without seeing them in hand first. I've had enough experiences where sellers' photos obscured hairlines that warranted a return or missed PVC residue that I had to conserve before I could submit the coins for grading.
I am particularly interested in what the new holders will look like, as I wasn't aware that there was room for improvement on the current holders.
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My guess would be that membership tiers may offer new benefits, such as faster order processing, special labels, or other benefits.
News of the new holder means I need to get my reholders in soon as the goal was to have identical holders for my set. I'm happy to have this warning!
I don't understand, won't more submissions slow down the grading process? I'd submit coins as a non member. I'm sure many others will as well.
Unless maybe adding 10 graders would keep turnaround times as they are?
I have no clue what PCGS has in mind, but I think there is a lot of opportunity to further ensure the authenticity of slabs and the coins they contain. Some of this might come from physical attributes (eg, enhanced use of holograms and micro-engraving). But perhaps the big win (and yes, some will hate this) would be the implementation of blockchain technology to create an anonymous registered chain of custody for all slabbed coins. In fact, I’m kind of surprised this hasn’t happened yet.
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I hope they get rid of the useless and annoying stacking tabs.
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The label really needs a big makeover. Using a high stroke contrast font reduces legibility (compare with CACG, ANACS), forcing a larger font to be used than necessary. The big gold shield crowds text a lot. The serial number and barcode take up 1/4 of the label. Multiple lines of text are often misaligned. A smaller, sans-serif, low stroke contrast font and better alignment would make more room for more descriptive text, such as unabbreviated error descriptions and world coin denominations (Goldgulden instead of "G.Guld", 4 Groot instead of "4Gt", Escudo instead of "Esc"), more complete world coin descriptions that include at least the monarch/boss under which a coin was struck.
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With the long wait times I'm surprised they are looking for even more submissions. Probably the majority of the coins submitted now are moderns and foreign. A local guy was able to reach customer service for his submission of the new gold coin and they were quite adament that they must come in flips, no tape, staples, etc.. Clearly they would prefer professional submitters to potentially problem ones with delays due to errors or problems.
Just saw this. This holder change has been in the works for maybe a couple years now. From my FUN 2025 thread:
"Also with today's technologies it apparently gives the opportunity to do things for security on the slabs that were not practical before. So sometime this year there could be a new pcgs slab coming out with more and improved features to help prevent counterfeit slabs."
https://forums.collectors.com/discussion/1110538/fun-show-2025-not-really-a-show-report
I don't recall all the things mentioned but do remember something about a new PCGS owned font (not publicly available) to make copying the font more difficult. Advancments in printing used to make duplication of the label more difficult. Also something about being able to engrave the cert number into the plastic (maybe along the edge but this was not discussed I am guessing). Will be interesting to finally see what they come up with.
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This makes a lot of sense, as long as it isn't hideous or clumsy looking. Needs to have native Greek and Cyrillic characters, too so they can be properly represented on the labels as they can be with the current font. (I laugh and cringe with I see an NGC label of a Russian coin from the "CNB" mint.)
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The problem with a blockchain record is that rare coins are bearer instruments and there's a lot of legitimate situations where ownership transfer records or NFTs would get lost or become available. I'm not sure we want the hassle of the widow trying to sell her dead husband's coins when she has no clue how to access or transfer the blockchain title/NFT, and that we want a big administrative process to restore that title/NFT to make it possible to re-sell. Especially for common widgets.