Newbie? question about coin graders
Bochiman
Posts: 25,535 ✭✭✭✭✭
Hope folks don't mind if I ask this...
I've seen references to the opinions of graders and catching them at the right full moon for the best grade
.
I am wondering, in general, if anyone knows what kind of pay the graders (at the top 2-3 services) get?
Also, I have heard the process of the coins in for grading goes something like:
Coin arrives, is marked and put in vault until ready
Coin is looked at for ~10 seconds and graded
Maybe another grader or two looks at it and consensus is reached
Coin results are uploaded and coin is returned
Is that about right?
Do the services generally have specialists or are the graders "Jacks of all trades"?
I ask this question because I have read how, at times, one service or another is harder on a certain series. So, I wonder if that is because they have a specialist (on Franklins for instance) and that person feels a need to be extra critical?
Thanks!
Ron
I've seen references to the opinions of graders and catching them at the right full moon for the best grade
.I am wondering, in general, if anyone knows what kind of pay the graders (at the top 2-3 services) get?
Also, I have heard the process of the coins in for grading goes something like:
Coin arrives, is marked and put in vault until ready
Coin is looked at for ~10 seconds and graded
Maybe another grader or two looks at it and consensus is reached
Coin results are uploaded and coin is returned
Is that about right?
Do the services generally have specialists or are the graders "Jacks of all trades"?
I ask this question because I have read how, at times, one service or another is harder on a certain series. So, I wonder if that is because they have a specialist (on Franklins for instance) and that person feels a need to be extra critical?
Thanks!
Ron
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
1
Comments
Your process is generally right. 3 graders look at it and then a finalizer/verifier. They look at the coin as long as they need to. maybe 10 seconds, maybe several minutes.
They do have a few specialists, but most are well versed in all areas of grading.
David Hall has publicly stated that graders make up to $240,000 per year. That's a big chunk of change to most of us but, frankly, I don't think that even if I had the skill I'd want the job. Can you imagine sitting there day after day for hours at a stretch looking at one coin after another? It would drive me to insanity (yeah, I know, I already am).
Russ, NCNE
Somebody else pointed out that it is California, and cost of living is expensive, but I think anyone should be able to eek out a decent living at a quarter million per year.
...David
Russ,
You're probably right, but I'd sure be willing to give it a shot for a couple of months.
Cha ching!!
Russ, I went back a bit in the threads, but there are soooo many
I had thought it would be $100,000-$150,000. I didn't think it would be as much as $240,000.
But, I am glad they do make a bunch.....I, as others and yourself have said, would not be able to do that type of job minute after minute each day.
I would crazy then bug-eyed (well, some say just bug-eyed as they already consider me crazy
I think part of the point, that I didn't mention, to why I asked was answered as well....basically, I was also wondering why PCGS hadn't hired more graders since they are so far behind and they do have a lot of business.
I believe that has been answered in that he has tried but couldn't find someone qualified AND willing to do it.
Also, it wouldn't be easy finding someone worth $240,000 since he would be putting the company's rep on the line with each grader he has.
wow!
I wonder if those graders continue to have their own collections or, after going home for the night, they don't want to see any more coins?
(I work in the computer field and while I still play with my 6-8 computers at home (games, work, building them, video stuff, etc), I know many of my colleagues refuse to do anything with a PC after work if they can help it)
Ron
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
Please keep in mind, that things might be very different at NGC, than they were, when I was there. And, they are probably quite different at PCGS, as well. Finally, different people, no doubt, have different responsibilities. But, hopefully, this will provide you with at least a glimpse into what it's like. Please feel free to let me know if you have additional, specific questions.
PS - some graders make considerably less, and, others make considerably more, than the $240,000 figure mentioned in this and other threads.
OLD POST:
I haven't worked as a grader for five years, now, but, this is what is was like when I graded at NGC:
I am a morning person, so I usually arrived at the office by 6:30. Occasionally I was there earlier, but got fussed at for that! Often being the first person there, I got the day's allotment of coins to be graded (which had been placed on a cart, the previous afternoon), out of the safe and wheeled the cart into the grading room.
Each submission order (no matter how small) was kept in a separate box. I would remove box after box from the cart, examine the coins and enter my grading opinions on my computer. Sometimes I would write notes to let other graders know that I had a question or commnt about something, etc. When I was finished with a box, I would initial it and set it aside for another grader. That was a large part of what I did.
The other major responsibility I had, was quality control. After the coins received their "final" grades and were sealed, they were brought back into the grading room, where I or another grader inspected them again. We checked the grading labels to verify that the date, denomination and mintmark were correct, looked for lint in the holder, checked to make sure the coins sat in the core correctly, made sure the holders were clean and sealed!, etc. I also checked each coin against the grade on the grading label and often suggested to other graders that the grade be raised or lowered. At that point, we might have a discussion (or argument) and the grades might or might not be changed.
I took about a two minute break every 45 minutes or so, to freshen up.
I had lunch at the office most days but occasionally went out, with or without other graders. I usually went home at about 5:00, sometimes earlier and sometimes later, depending upon how busy we were.
I'm probably leaving some things out, which I haven't thought about for a long time. So, if you have specific questions, I'd be happy to try to answer them
<< <i>We checked the grading labels to verify that the date, denomination and mintmark were correct >>
Mark,
Obviously, you left before this one was graded.
Russ, NCNE
Newer label - you can't blame that one on me - whew!
How many coins did you grade in a day? How long did you do it in a stretch w/o taking a break?
I took a very brief (a few minutes) break, every 45 minutes or so.
My hats off to the graders!
Dave
Imagine that one would burn out after a year or two of that.
Pretty cool thread to resurrect, I wonder if it's any different 16 years later.
Are PCGS graders sworn to secrecy? It would be interesting to hear from any former graders as a comparison to the above.
Collector, occasional seller
Thank you Chris. Sometimes old threads are met with mixed response.
I was surprised that the range for graders reached a quarter million..especially a decade and a half ago. But then, we are talking a high rent district in Newport Beach.
Interesting old thread.... Russ was a great contributor and a good friend....Cheers, RickO
Seeing @Bochiman describe himself in the thread title as a newbie at first did not compute, but now seeing a 16 year old resurrected thread allows the calculation to complete.
As for resurrecting old threads, I'm old fashioned in that I like to see someone who does so add something more than "imagine this" or raise a related question. Just seems to be good board etiquette (along with noting it's an old thread) but not everyone respects that concept.
"Got a flaming heart, can't get my fill"
Maybe if Brett gets to 276 on his unwritten rules, that will be covered.
No numbers to post but from what I heard, at the beginning (1980's) the money was really flowing and graders were paid by the piece. Those guys were the top numismatists in the industry and I believe they only worked a few weeks at a time as many were dealers. Buy the late 1990's, I know that some of the long-term guys were still receiving large quarterly bonus checks in addition to $XXX,XXX/year.
However, I find it very hard to believe $20,000 a month in recent times. I only clear $17,300 a month after taxes and I've been doing this for almost fifty years! LOL. It's a joke.
CA is expensive. When NGC moved from a high tax state to FL it was a huge raise in take home pay for everyone.
As for the job. There are very few things I would rather do. It's NOT A JOB when you get paid to play at your hobby all day with a challenge thrown in (all the crooks are trying to get something past you) to keep it interesting along with research.
Who is Mark, the banned former grader in the thread?
Mark Feld. He enjoys an exemplary resume and is now a member of Heritage.
He left NGC just before I started. How come he has the Ban symbol? I've been posting with him today.
He was banned and then allowed to rejoin again just not under the old name.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
A seance of sorts occurs this time each year.
Weird.
When I first started posting here I " resurrected" some old threads. Didn't think anything about it. But oh boy was I taken to the woodshed by some oldtimers. Accused of wanting to up my post count, etc. I didn't even know what that meant. Those guys were so wrong. They're gone now. Hey, old threads can be good threads. Anything that educates us is good.
As they say, if your hobby becomes your job, be careful, because it could become work.
They also say some folks enjoy their "work."
YEP!
Old post and thread I know, but I imagine that there's more than an eek let out at smoe a the stuff that comes in the door. AND NO, I'm not going to read the whole thread to see if someone else caught it too.