Aren't we Hurting ourselves?
marcmoish
Posts: 6,667 ✭✭✭✭✭
With the crack-out game still pretty strong are we not hurting ourselves by using this method that results in skewed POP reports. Rather than send in the current Slab evidently it seems you have a better chance or call it a gamble when the coin is cracked out, and that data is lost forever.
Besides the fact that I personally despise this game - ( I honestly never tried it...yet
. I prefer to know my coins are PQ for the grade or the upper tiers of the grade etc. I guess I would think differently perhaps if I was selling tommorow though.
Just some thoughts as my day in the office winds down, and reading Bear's misFORTUNES
Marc
Besides the fact that I personally despise this game - ( I honestly never tried it...yet
. I prefer to know my coins are PQ for the grade or the upper tiers of the grade etc. I guess I would think differently perhaps if I was selling tommorow though. Just some thoughts as my day in the office winds down, and reading Bear's misFORTUNES
Marc
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Comments
The data is not lost, but corrected if people return their old cert tags to the appropriate grading service.
The problem with this is PCGS, years ago, offered a "reward" for the return of broken out tags. It was like 50 cents or something, but it was meaningful and you realized that by throwing a tag away or not sending it in, you were throwing away money. They stopped this "reward" program years ago and it has hurt the pop figures badly. I made as big a stink as I could at the time, but everything fell on deaf ears. Now, there is no reason to send them in.......I know there is and you know there is....but many just don't care.
Marc, your right. Buy the coins that have been tried 3 or 4 times and not worked rather than the coins that have been tried to death and finally worked!!....
Mike Printz
Harlan J. Berk, Ltd.
https://hjbltd.com/#!/department/us-coins
If this has been reinstated I was NOT aware of this at all!! If so, I'm very happy. However, I have my doubts. I'll look into this first thing tomorrow with an email to those in the know.
Thanks!
Mike
Harlan J. Berk, Ltd.
https://hjbltd.com/#!/department/us-coins
Interesting I was not aware of that 50 cents - but franky I doubt that most dealers take advantage of that incentive to get back a couple of dollars - why they are busy dreaming of netting thousands (or losing thousands on the flip side !!!!)
Marc
Market demand dictates value and to a lesser degree it determines rarity. If there are few collectors for a certain coin, even though it may be tough to find, such as the 1859 $5 Liberty, is it really rare? And if it is rare, then why can such a coin be purchased in the $400-$500 range in EF45?
Experience the World through Numismatics...it's more than you can imagine.
I would imagine you could find a collector that would pay five or ten bucks for a key date lable.
David
No make it 5 bucks each toward a free submission, then you might get somewhere!
Ken, I too remember David saying that at the registry lunch, and was surprised because I thought it had been discontinued. I didn't think too much of it because the 50 cents per is not a big deal in view of other matters, although it agree it would provide more of an incentive for people to turn in the tags.
I turned in a per PCGS tags as well as a few tags across the street while in Baltimore, and got a thanks from each of tose two services.
pop will not ever be accurate. Better to just ignore the pops, they contain no useful information at this point.
Everything is linear if plotted log-log with a fat magic marker
Mike Printz
Harlan J. Berk, Ltd.
https://hjbltd.com/#!/department/us-coins
This "incentive" is so weak is it any wonder no one knows about it or cares? At the same time I think PCGS could care less about the skewing of the numbers. They should be thinking longer term about correcting the problem. They had a great concept and allowed it to unwork itself.