What would it take for you to significantly increase your purchases of PCGS graded coins?
Longacre
Posts: 16,717 ✭✭✭
In another thread, an excessively prominent member of these boards asked what it would take for you to stop buying PCGS graded coins. Perhaps it is the giddy holiday mood that is overtaking Longacre, but I want to ask a similar question but with a more positive spin. 
What would it take for you to significantly increase your purchases of PCGS graded coins? Personally, I look at coin grading as a commodity, with not so much differentiation between NGC and PCGS (as the market leaders), and I tend to buy PCGS and NGC coins in equal amounts (after looking at the <gasp> coin and not the holder).
Is there anything that PCGS can do on the business side to make you significantly increase your PCGS purchases?
What would it take for you to significantly increase your purchases of PCGS graded coins? Personally, I look at coin grading as a commodity, with not so much differentiation between NGC and PCGS (as the market leaders), and I tend to buy PCGS and NGC coins in equal amounts (after looking at the <gasp> coin and not the holder).
Is there anything that PCGS can do on the business side to make you significantly increase your PCGS purchases?
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
<< <i>If I had A LOT more money I would buy PCGS graded coins
Ditto!!
I would also like to do a bulk deal of circ. widgets. PCGS will do that with Morgan VAMs, but me getting 100 of those together might as well be 1000.
<< <i>In another thread, an excessively prominent member of these boards asked what it would take for you to stop buying PCGS graded coins. Perhaps it is the giddy holiday mood that is overtaking Longacre, but I want to ask a similar question but with a more positive spin.
What would it take for you to significantly increase your purchases of PCGS graded coins? Personally, I look at coin grading as a commodity, with not so much differentiation between NGC and PCGS (as the market leaders), and I tend to buy PCGS and NGC coins in equal amounts (after looking at the <gasp> coin and not the holder).
Is there anything that PCGS can do on the business side to make you significantly increase your PCGS purchases? >>
Three things:
1) Implement a third party arbiter to handle evaluations of grade guarantees. Just like I get estimates on a car repair for insurance purposes from third parties, not the insurance company, the same should be said for the grading guarantee (a type of insurance). Said slightly differently, you don't let the wolf watch the henhouse.
2) Use a published standard as to the market value of a coin when deciding grading guarantee rebates. PCGS publishes the price guide, but when it comes time to pay out on a coin, they do not use this as the basis.
3) Reinstate the RB/RD guarantee for copper.
I fully recognize the challenges with the above suggestions, but they are the answers to the OP's question as I see it...Mike
The determining factor is the coin, of course. However, the holder is very much the frame of the coin. PCGS hasn't done much to make that frame attractive lately. The issue is primary with the label design, although the holder is overdue for a refresh. Placing current PCGS and NGC holders side-by-side, I believe NGC presents a much more professional and upscale look.
Also, the Genuine label needs to clearly state what the deficiency is, not bury (hide) the reason in a numeric value.
I never send coins to NGC (or anywhere else) to be graded, so my (miniscule) submissions are already 100% PCGS.
As a dealer of moderns, I have my little issues with PCGS but I take care of them directly rather than airing them out here. However, I would not buy moderns graded by any company other than PCGS with very few exceptions. No other company takes time to look at and critically grade moderns.
--jerry
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
#1. The tide is a bit low for me today. Most important, I would have to regain having a strong interest in numismatics.
#2. If an obscene amount of money rolled in I might buy more.
#3. I don't see any reason to buy additional NGC coins. I'm fine with the good people that work there but I despise their prong holders, find their white plastic boring, recognize PCGS as the unquestioned TPG market leader.
To increase me submitting coins, all what would be needed would be for them to drop slabs and numerical grading. And I don't mean as another option, I mean entirely.
Ed. S.
(EJS)
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
World Collection
British Collection
German States Collection
So, to answer RYK's question, if PCGS would bring a friendly dog to parade around their booth, that might get me to do more biz with them.
<< <i>If I had A LOT more money I would buy PCGS graded coins
My first thought, I don't have a problem with NGC, but prefer PCGS.
My answer as a dealer is different. If PCGS can do more to improve my bottom line - and I don't care how they do it - they'll get more of my business.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I happen to know a friendly dog that could use a well-paying job. Talk to me.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>If I had A LOT more money I would buy PCGS graded coins
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<< <i>
2) Use a published standard as to the market value of a coin when deciding grading guarantee rebates. PCGS publishes the price guide, but when it comes time to pay out on a coin, they do not use this as the basis.
>>
I think this is funny. Their price guide looks great for marketing their coins but that's about it.
I would use PCGS more if their eliminated the need for Collector Club memberships to submit coins. I could generate more cash flow and buy more PCGS. I've tried submitting my coins through others who have memberships or authorized dealers but its a hassle. The "authorized dealers" are the biggest hassle and are totally reluctant to submit coins, if at all.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
the grade I want, on
10 coin a year.
Camelot
Going forward, it's like Mr. Eureka said, the bottom line. However, the collector's, the bottom line is more oriented towards enjoying the hobby than $$$. So anything that PCGS can do to make the hobby more fun, more enjoyable for me, will make me tend to favor their coins more.
What kind of things? That is a bit tougher. For some collectors, Registry made the hobby more interesting and enjoyable (though not for me), and increased interest. Having pedigrees noted on the holder did do so in a tiny way, because like 0.05% of coins are in pedigreed holders. Across the street, things such as multi-coin-holders, grading of various tokens has brought them some business. PCGS would do well to think of similar kinds of things.
<< <i>I wonder if dogs could smell PVC? >>
Yes, they can. Hell, even humans can smell PVC at high enuff concentrations.
What do you suppose that "shower curtain" smell is when you walk into a coin show?
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website