Genuine--PCGS?

DwaineO · September 1, 2008 9:52AM

What does Genuine mean on PCGS holders? I am browsing the Heritage lots and seeing quite a few slabs with this and no grade.

SilverEagles92 · September 1, 2008 9:52AM

Where have you been for the past month?

For $100, PCGS will slab problem coins with simply a "Genuine" designation, and no numeric grade.

DwaineO · September 1, 2008 9:54AM

Well I guess I missed that. Thanks for the info.

lordmarcovan · September 1, 2008 10:00AM

Don't feel bad, Dwaine. Apparently I too have been living under a rock.

It happens to me quite often.

So, I take this to mean no more bodybags? If you pay your money and send your coin in, you at least get a plastic holder with the "genuine" label?

Or is it a cheaper service tier where they only check for authenticity, and the coin comes back in that holder whether it has a problem or not?

If the former of the two, that is a big improvement. I have long thought that the top-tier TPG's ought to at the very least cough up a plastic slab for the money.

FilthyBroke · September 1, 2008 10:12AM

<< Don't feel bad, Dwaine. Apparently I too have been living under a rock.

It happens to me quite often.

So, I take this to mean no more bodybags? If you pay your money and send your coin in, you at least get a plastic holder with the "genuine" label?

Or is it a cheaper service tier where they only check for authenticity, and the coin comes back in that holder whether it has a problem or not?

If the former of the two, that is a big improvement. I have long thought that the top-tier TPG's ought to at the very least cough up a plastic slab for the money. >>

As I understand, it's neither. It's a seperate $100 service for non grading higher end coins.

smallchange · September 1, 2008 10:13AM

Not really cheaper Lord, it is a 100 bucks for this service. I think it is more for expensive, rare coins that might have a problem but at least you could be assured it is genuine. A 1916d dime is one example that I can think of where I would want a coin to be guaranteed genuine.

Smallchange

oxy8890 · September 1, 2008 10:26AM

<< Well I guess I missed that. Thanks for the info. >>

Don't feel bad, many of us have lives. I missed it also

tahoe98 · September 2, 2008 2:38AM

..................missed WHAT!!??

DennisH · September 2, 2008 2:48AM

Genuine service is apparently intended for very rare problem coins that folks want in PCGS holders. It is not replacing bodybags at all. In fact, it is a special grading service that costs $100 per coin. PCGS does not assign a grade; they merely put the word "genuine" on the holder.

If I had an uber-rarity that had been cleaned or holed or whatever, I'd be very inclined to send it in for this service.

lasvegasteddy · September 2, 2008 2:54AM

unless i read it wrong...these holdered coins can be included in set registry...great example is a questionable color 09 vdb matty can now be holdered and complete a set that us poor working class can now afford

anyone with a problem 09 vdb matty...my pm is on

UTTM07 · September 2, 2008 6:48AM

I wonder if they review coins sent in for a genuine slab to make sure they wouldn't grade? Would you get 70 dollars back if they did?

BECOKA · September 2, 2008 7:25AM

<< Don't feel bad, Dwaine. Apparently I too have been living under a rock.

It happens to me quite often.

So, I take this to mean no more bodybags? If you pay your money and send your coin in, you at least get a plastic holder with the "genuine" label?

Or is it a cheaper service tier where they only check for authenticity, and the coin comes back in that holder whether it has a problem or not?

If the former of the two, that is a big improvement. I have long thought that the top-tier TPG's ought to at the very least cough up a plastic slab for the money. >>

No, no, no, no and no.

Shoot, you have to pay the shipping and grading fee to find out your coin get's body bagged. Then send it back and pay an additional $100 to get it into a slab with no grade.

If you ask me it's kind of bogus and that since they have to grade it anyway at a fraction of the cost that a BB coin should get the Genuine slab automatically if requested.

leothelyon · September 2, 2008 9:13AM

<< 

<< Don't feel bad, Dwaine. Apparently I too have been living under a rock.

It happens to me quite often.

So, I take this to mean no more bodybags? If you pay your money and send your coin in, you at least get a plastic holder with the "genuine" label?

Or is it a cheaper service tier where they only check for authenticity, and the coin comes back in that holder whether it has a problem or not?

If the former of the two, that is a big improvement. I have long thought that the top-tier TPG's ought to at the very least cough up a plastic slab for the money. >>

No, no, no, no and no.

Shoot, you have to pay the shipping and grading fee to find out your coin get's body bagged. Then send it back and pay an additional $100 to get it into a slab with no grade.

If you ask me it's kind of bogus and that since they have to grade it anyway at a fraction of the cost that a BB coin should get the Genuine slab automatically if requested. >>

Especially for coins that are valued over $1000+.
And add an extra checkbox; Would you like your coin holdered as Genuine if by chance we think it's a POS?

Leo

Lakesammman · September 2, 2008 9:31AM

Effective immediately, the Professional Coin Grading Service (PCGS) will begin authenticating and encapsulating "problem" coins (altered surface, cleaned, environmental damage, etc.). Holders and inserts for the Genuine Service will be identical to the normal PCGS holder except the insert will read "GENUINE" in place of the usual grade. No grade will be assigned to these coins, but they will be eligible for inclusion in the PCGS Set RegistrySM with a grade value of 1. Genuine Service coins will be covered under the PCGS Guarantee of Authenticity but not under the PCGS Guarantee of Grade.

PCGS reserves the right to reject any coins submitted under the Genuine Service, including coins that are excessively damaged, altered to such a degree that making a determination of authenticity is difficult or impossible, or have surface contaminants that may harm the coin in the future. In such cases, PCGS will refund the fee and related shipping charges for that coin. Customers should submit all coins for the Genuine Service on a regular PCGS submission form, marking "GENUINE SERVICE" in the "Other" box.

kranky · September 3, 2008 2:14AM

I think PCGS would be happy if no one ever sent in a coin for a "Genuine" label. I suspect the price is high to discourage people from using it unless you have a rare coin that needs to be authenticated.

Imagine if it cost $20 - what do you think your ebay searches would be like? A cheap service that has the PCGS aura would be mobbed by people wanting to sell junk on ebay and on TV. And I doubt that PCGS wants to see tons of crappy coins in their slabs even if it is only labeled "Genuine".

RYK · September 3, 2008 2:23AM

<< I think PCGS would be happy if no one ever sent in a coin for a "Genuine" label. I suspect the price is high to discourage people from using it unless you have a rare coin that needs to be authenticated.

Imagine if it cost $20 - what do you think your ebay searches would be like? A cheap service that has the PCGS aura would be mobbed by people wanting to sell junk on ebay and on TV. And I doubt that PCGS wants to see tons of crappy coins in their slabs even if it is only labeled "Genuine". >>

I agree with Kranky. My guess is that it was started for appeasement of customers who wanted such a service, rather than for revenue generation.

BECOKA · September 3, 2008 3:01AM

<< No grade will be assigned to these coins, but they will be eligible for inclusion in the PCGS Set RegistrySM with a grade value of 1.

>>

Shoot, this will give new meaning to the lowball registry folks that can't get that P02 down to P01. Marty this is just for you.

Mowgli · September 3, 2008 6:01AM

Looking at Harry Laibstain's site shows some PCGS "Genuine" coins for sale. It doesn't look like they are selling for much less that regular PCGS coins of the same grades.

DennisH · September 3, 2008 8:36AM

<< Looking at Harry Laibstain's site shows some PCGS "Genuine" coins for sale. It doesn't look like they are selling for much less that regular PCGS coins of the same grades. >>

Except PCGS doesn't put grades on "Genuine" coins.

Dawg144 · September 3, 2008 8:42AM

<< 

<< No grade will be assigned to these coins, but they will be eligible for inclusion in the PCGS Set RegistrySM with a grade value of 1.

>>

Shoot, this will give new meaning to the lowball registry folks that can't get that P02 down to P01. Marty this is just for you.

>>

That's an interesting point...

Can lowballers just holder all their coins as "Genuine" to give all their coins 1 registry point?

DennisH · September 4, 2008 4:31AM

<< 

<< 

<< No grade will be assigned to these coins, but they will be eligible for inclusion in the PCGS Set RegistrySM with a grade value of 1.

>>

Can lowballers just holder all their coins as "Genuine" to give all their coins 1 registry point?

>>

No. "Genuine" graded coins can' be used in lowball sets.

BECOKA · September 4, 2008 4:38AM

<< Looking at Harry Laibstain's site shows some PCGS "Genuine" coins for sale. It doesn't look like they are selling for much less that regular PCGS coins of the same grades. >>

That's really not good if they are all selling for P01 prices.

Genuine--PCGS?

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