Does it strike you as odd that NGC and PCGS both issued "coin doctoring" statements today?

MrEureka · January 28, 2008 8:10AM

Were they acting in concert, or did PCGS just decide to jump on the bandwagon?

ziggy29 · January 28, 2008 8:11AM

Either they were coordinating this or both were preparing their own version of it already, and NGC's announcement gave PCGS all the reason they needed to follow suit.

The statement PCGS put together about it probably doesn't come together in a couple hours.

gecko109 · January 28, 2008 8:13AM

God!!!....and my blood pressure just returned to normal!

ziggy29 · January 28, 2008 8:13AM

<< God!!!....and my blood pressure just returned to normal! >>

Since you've only been here since October, let me let you in on a little secret. When some "big news" hits the numismatic wire -- especially when it involves something like the Mint, the ANA, CAC or the TPGs -- it gets beaten to death. Most of us are used to it.

So if this boils your blood every time you see this, my advice -- seriously -- is to take a few days off.

bluelobster · January 28, 2008 8:19AM

My hunch is that it was done in concert, based on an accumulation of doctored coins sent in for grading, but my guess is it was triggered by some specific high value coins from one or a few specific dealers. If it was Just PCGS jumping on the bandwagon I doubt they'd be so obvious as to do it the same day.

IGWT · January 28, 2008 8:29AM

I prefer to think of it as a conspiracy.

ricko · January 28, 2008 8:34AM

Collaboration... it may be denied, but there is no doubt. Realistically, why should they not collaborate on an issue like this... it is to improve the health of the industry - they should work together. Cheers, RickO

charley · January 28, 2008 8:42AM

Respectfully, the timing of this announcement would be, in my opinion, a good business practice, if indeed it was done in consort. The "enemy" is not always the competition. Consider that human error occurs. This would seem like a prudent move to start reducing risk, respond to the market in a positive vein, and present a firm stance. Then again, there could be one whopper of a lawsuit coming that we are not privy to. Regards and Respectfully, John Curlis

tradedollarnut · January 28, 2008 8:44AM

To get halfsense involved takes time - so it wasn't a kneejerk response to NGC's email. It had to be coordinated. I believe that this coordination shows how serious the issue is and how serious they are about fighting it.

JRocco · January 28, 2008 9:04AM

<< To get halfsense involved takes time - so it wasn't a kneejerk response to NGC's email. It had to be coordinated. I believe that this coordination shows how serious the issue is and how serious they are about fighting it.

>>

I agree with TDN 100%

This was well coordinated.

leothelyon · January 28, 2008 9:39AM

I have looked at hundreds if not a thousand of toned coins and have bought raw coins with the same identical toning coins as certified coins only to have them BB. Not long ago, I've cracked out a toned PCGS graded coin to only have NGC BB it. And as I continue my search for those toned beauties only to see them in display cases with the same exact toning my coins were BB. Had another coin tone from sitting in a 2x2 cardboard holder and box for 7-8 yeras. It was a proof Franklin half that toned to a vibrant orange-red only to BB at NGC, one does start to loose faith in the system.

Leo

BECOKA · January 28, 2008 9:43AM

So when will the 2nd and 3rd world companies make this announcement.

dbldie55 · January 28, 2008 9:43AM

<< God!!!....and my blood pressure just returned to normal! >>

That was funny. Must be tough being so clueless about what is going on.

bidask · January 28, 2008 9:52AM

Link to the statement?

tmcsr69 · January 28, 2008 9:55AM

It doesn't strike me as odd at all. Many CEO's of competiting companies are on a first name basis and speak with each other regularly. To me, both companies made a good company decision and went about it in the right way. I do find it interesting who received the letters/emails and who didn't. I applaud their efforts in taking steps in the right direction. I would rather have both companies recognize and address the problem rather than pretend it doesn't exist.

rgl1345 · January 28, 2008 9:55AM

<< 

<< God!!!....and my blood pressure just returned to normal! >>

That was funny. Must be tough being so clueless about what is going on. >>

1080 post about nothing

pharmer · January 28, 2008 10:05AM

Means they were working in concert, and are serious about it.

DJCoinz · January 28, 2008 10:14AM

<< Means they were working in concert, and are serious about it. >>

Yep. It's very good to see them working together to present a united front against the problem, as ricko said in an earlier thread.

291fifth · January 28, 2008 10:33AM

My guess is that some very skillfully done doctoring involving very expensive coins has been appearing recently and that it is being traced back to very specific submitters. I'll bet it wasn't a coincidence that both firms issued statements on the same day.

tradedollarnut · January 28, 2008 10:42AM

HRH: So we're agreed - the announcements go out simultaneously at 9am Pacific Time.

MS: Absolutely. We'll show those guys we mean biz this time by doing it together.

HRH: Ok then. Glad we can cooperate on this. Goodbye. [click]

MS: [click] Dena - get me Eichenbaum. Steve? Dave & I have agreed to the news release ... at 9am tomorrow... yes, Eastern time. Bwahahahahaha!

seateddime · January 28, 2008 10:50AM

what about all the crap already in holders?

Barry · January 28, 2008 10:58AM

One or both of them got hit with some big coins they had to buy back. That's what got the ball rolling.

GoldenEyeNumismatics · January 28, 2008 11:01AM

<< what about all the crap already in holders? >>

holders <---> tombs

truthteller · January 28, 2008 11:27AM

I received information from a very credible source that one of the TPGs told the other that there was going to be an "anouncement" of this new policy and gave them a "heads up" that this was coming. It is my understanding that it wasn't done in concert, but more like one followed the other.

TRUTH

pharmer · January 28, 2008 12:01PM

aka doing it in concert

JUSTICE

Whitby · January 28, 2008 12:08PM

Good for the TPGs in this instance.

Trime · January 28, 2008 12:32PM

If the goal is saintly forgive prior infidelities

yellowjacket · January 28, 2008 12:43PM

What about that PCGS20 graded 1936-D 3 1/2 leg Buffalo in the Heritage Auction. It has a small "pin scratch." Well that same coin was in an ANACS holder a few months ago in another auction (David Lawrence, I believe), and the scratch was more pronounced and went completely across the reverse. You don't see this "problem" as severe now. What happened to this coin?

Is it subject to the new rules enforcement or can they follow up? Or does anyone realy care.

Garrow

Editted to amend: I've done my own research and found the second coin having been offered at Heritage as well. They are not the same coin although they look very similar. My bad.

Coxe · January 28, 2008 12:47PM

There might be corporate competition but this is a small community. All the active players know each other well. I am sure this was coordinated. It helps too, as the early posts today demonstrated. It shows there is some unity in the cause and not NGC bailing out on their customers or anything. They are doing what appears to be the responsible thing they can, from their position in the game, to shut down the aggressiveness of some of these rackets and the potential dealer collusion. Now if people would just stop buying all that sh1t that is obvious just that, it might go a little faster.

Does it strike you as odd that NGC and PCGS both issued "coin doctoring" statements today?

Comments

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

Leave a Comment

Does it strike you as odd that NGC and PCGS both issued &quot;coin doctoring&quot; statements today?

Comments

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

Leave a Comment

Does it strike you as odd that NGC and PCGS both issued "coin doctoring" statements today?