I think it's now time for PCGS to come out with a PQ rating

braddick · November 9, 2004 4:35AM

PCGS has put it off long enough. With the success of NGC's STAR rating for exceptionally eye appealing coins, and the market's acceptability of them (at mostly substantial price increases over the same grade, non-STAR coins-), PCGS needs to step up and design their own PQ (Premium Quality rating.

Just my opinion, and I'd love to read yours, but PCGS is leaving money on the table by not offering this winning Service.
It's a definite profit maker for PCGS. It's good for the Dealers and, eventually, it'll be good for the Collector.

Bear · November 9, 2004 4:39AM

I brought the issue up to David several times, but he seems to have a strong disinclination

to give consideration to the idea. Perhaps when submissions slow down a bit and the back log is

eliminated, will be the right time to implement.

braddick · November 9, 2004 4:43AM

There's really no reason why David Hall couldn't impliment the PQ rating right away (IMHO). The Graders have the skills and the support staff is already in place.
Here's an example of a coin PCGS would honor with the new PQ Rating.

prooflike · November 9, 2004 4:51AM

I think they should use an exclamation point system, like " MS68! "

Actually, I think the buyers should decide what looks good and what doesn't...

Should a star on a piece of paper decide for me??

Sometimes I don't even agree with the grades assigned by the so-called pros

it is all a matter of opinion...

Hadleydog · November 9, 2004 4:52AM

I think it's now time for PCGS to come out with a PQ rating
I agree. For the first time I saw an auction on ebay for a pcgs coin that the seller hyped as would cross to an ngc star if resubmitted. It's a good idea, and gives nice coins a bump without raising the grade.

TUMUSS · November 9, 2004 4:54AM

SO FUNNY YOU SAID THIS!!!

I was thinking about this very subject in the shower this morning.....I think they should come out with a "Gold Tinted" holder....still transparent....but slightly gold.

Edited to add: I think that you will NEVER see it because they do not want to be seen as following NGC's lead....EVER!

Theop · November 9, 2004 5:11AM

How about a toned holder?

They could hire artists to hand paint toning patterns on the inside of the slab.
For $5 you specify the toning pattern: end roll, bag, textile, album.

MONSTER TONING!!!! $2 extra.

Bear · November 9, 2004 5:45AM

If PCGS should decide to go this way, they must decide

if the PQ refers to coins with merely outstanding appearence,

coins in the upper half of the grade , or both considerations.

I rather think that they would be overwhelmed by the submission

of coins for the possibility of the new designation. The increase in coin

value could be as high as 20 - 40%.

clackamas · November 9, 2004 6:00AM

They would not have to do much, IMO. Since the graders grade on a concensus basis, any coin that has the verifier knock it down would be PQ, any coin that had at least 1 grader grade it higher than the others could automatically get it.

solid · November 9, 2004 6:11AM

They could take it one step further and use a plus/minus (+/-) after the grade - a
just made it coin gets the minus, while one that is just short of the next grade
gets the plus.

dorkkarl · November 9, 2004 6:11AM

that would be stupid since we all know that every coin in a pcgs holder is PQ.

K S

shylock · November 9, 2004 7:28AM

Would they change their Registry point system as a result? That consideration has more impact than most of us realize. How can they add extra value for PQ coins when so many "finest known" sets have already been sold? The Registry is a house of cards that locks PCGS into a set system of grading.

Personally I'd like to see them upgrade their variety attribution before they try to figure out how to split grades.

MrEureka · November 9, 2004 7:47AM

The increase in coin value could be as high as 20 - 40%.

Bear - Aren't unlabeled PQ coins already bringing premiums? If so, would a PQ label really increase the value of the coin? For that matter, do you think that NGC stars really add value?

BowTieCoins · November 9, 2004 7:50AM

I think it would be neat if they did something for eye appeal, too.

Katrina

kyleknap · November 9, 2004 7:52AM

Let's not confuse "PQ" with outstanding eye-appeal. They are not the same thing.

And most importantly, both PQ pieces and pieces with exceptional eye-appeal bring premiums whether they have a designation or not. I have not seen any significant premiums paid for NGC star coins (at least with respect to toned dollars) that were not already being paid.

Kyle

coynclecter · November 9, 2004 7:53AM

They can't even be consistant with the current 10 Mint States grades and you want them to double it.

I'm sure it will happen when they upgrade phase runs totally out of steam.

dpoole · November 9, 2004 7:54AM

This abandons utterly ever the pretense of objectivity and standards in grading--which is precious thin even now. The PQ designation, the star the exclamation point, the whatever, is presumably a reflection of the visceral impulse of the particular grader, outside the (presumed) bounds of grading according to standards. That visceral impulse is rightfully the purview of the collector and the buyer.

Yeah, I know, grading is subjective. All this move does, though, is add another layer to the grading process and adds new volume and roles to the grading companies, all for a designation that requires no particular training or expertise. One has to have experience and training to be a good grader. Anybody can look at a coin, though, and judge "eye appeal." If anything ever is, "eye appeal" is in the eye of the beholder.

Outhaul · November 9, 2004 8:20AM

PQ = HYPE...pure and simple.

Just my opinion. It's a term I detest and is nothing short of overused, abused, and total hype.

Cheers,

Bob

Dave99B · November 9, 2004 8:31AM

A classic case of "Not invented here".

Dave

Myqqy · November 9, 2004 8:44AM

I think they should use an exclamation point system, like " MS68! "

That's pretty funny.....

I think the ngc star designation is ridiculous, and a pcgs designation would be equally as irritating. Buyers can decide for themselves if a coin is worth a premium, and dealers don't need another built in reason to add premiums......

haletj · November 9, 2004 11:37AM

PQ or grades like ms66.5 are severly needed! Grade inflation has caused a huge range of quality to be squeezed into a single grade. For red Lincolns for example, ms63 is practically not even used anymore, everything gets at least an ms64. Then on the other hand, pop top S's in ms65 are so expensive the coin has to be ridiculously nice to get the grade. That leaves ms64 being from lousy should be ms63 coins to really nice just miss ms65 coins! Look at the auction results for 27-s say. Half are $800, half are $2000! There is obviously a need for a grade to denote the $2000 ones as better. And even more importantly, moderns, where the price differences can be 100x for ms66 and ms67. ms66's are so cheap, no one buys ms65's, so grade inflation has caused any old run of the mill coin to be ms66. An ms66 could range from an avg common coin worth a few dollars, or an indeed rare just miss ms67 where an ms67 is worth $1000's.

Coinhusker1 · November 9, 2004 10:58PM

<< <i>I think they should use an exclamation point system, like " MS68! "

That's pretty funny.....

I think the ngc star designation is ridiculous, and a pcgs designation would be equally as irritating. Buyers can decide for themselves if a coin is worth a premium, and dealers don't need another built in reason to add premiums...... >>

Overall, I like NGC, but do not like the "star" gimmick and some others (like their dealings with Coin Vault).

PCGS would be foolish the follow NGC on many of these gimmicks, which would imply to the market that they are no longer the industry leader. Their first priority is to improve customer turn-around time, which appears headed in the right direction.

I think it's now time for PCGS to come out with a PQ rating

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