Secure + coins already on the bourse floor at Ft. Worth?

coingame2000 · March 27, 2010 9:14AM

I just received an email from an individual that I know to be extremely reliable and here's what he had to say...

Referring the Mid-Winter ANA Convention in Ft. Worth where PCGS announced Secure + grading; "Many dealers had pq (+) coins so they had a deal with PCGS well in advance of the announcement."

This inquiring mind wants to know:
#1 -- Is it true?
#2 -- How is it possible when the announcement was just made?

I'm not attempting to stir the pot, and I'm certainly not a trouble-maker -- I simply want an honest answer and would be interested in your thoughts and/or comments.

I'd be very interested to hear from Don Willis whom I really like (personally) and have the utmost respect for. By the way, Don's a fellow bass fisherman which is a really big PLUS in my book!

Thanks,

Mike De Falco

BigE · March 27, 2010 9:20AM

PCGS mentioned that 3000 coins were already graded at the time of announcement. I believe someone asked this question in the Q andA thread with Don Willis, might want to check--------BigE

Here it is
Justacommeman - we began selectively disclosing this project to certain customers in advance to solict their comments and advice. We slabbed app. 2000 coins in Secure Plus holders prior to the launch.

Justacommeman · March 27, 2010 9:31AM

Coingame

I also didn't want to stir the pot so I tempered my query in the following manner in the official DW thread

<Hi Don

How long exactly have you been slabbing Secure Plus coins? Who was eligible to participate in having their coins go through the new process if the announcement was only made yesterday and the coins were slabbed earlier?

I apologize if this has been addressed prior but there are too many like threads to read........Can't get to them all

Thanks, MJ >

And as BigE mentioned this was DW's reply

<Justacommeman - we began selectively disclosing this project to certain customers in advance to solict their comments and advice. We slabbed app. 2000 coins in Secure Plus holders prior to the launch.>

MJ

coingame2000 · March 27, 2010 9:56AM

Thanks guys, I appreciate your quick responses -- I guess I should have looked to the Q&A thread first. My bad for rarely visiting these message boards.

Mike

Justacommeman · March 27, 2010 10:05AM

Mikey

It doesn't mean that I didn't want to ask the obvious follow up questions

"selectively disclosing this project to certain customers in advance"

Who was deemed a certain customer? How in the heck did they all keep it a secret? Seems like there would be leaks with 2000 coins and stories.

I do understand PCGS wanting a control group and feedback............MJ

SDSportsFan · March 27, 2010 10:11AM

<< Mikey

It doesn't mean that I didn't want to ask the obvious follow up questions

"selectively disclosing this project to certain customers in advance"

Who was deemed a certain customer? How in the heck did they all keep it a secret? Seems like there would be leaks with 2000 coins and stories.

I do understand PCGS wanting a control group and feedback............MJ >>

Since many collectors (especially "high-end" ones) are by nature, discreet about their collecting, I'm sure PCGS had no problem with leaks. I remember Don Willis saying in one of his posts, that this was the best kept secret in the hobby, and that they've been working on it for a couple of years. PCGS I am also sure, knew who was most trustworthy.

Steve

JCMhouston · March 27, 2010 10:19AM

I thought they were not supposed to know who's coins they were grading?

Justacommeman · March 27, 2010 10:20AM

<< 

<< Mikey

It doesn't mean that I didn't want to ask the obvious follow up questions

"selectively disclosing this project to certain customers in advance"

Who was deemed a certain customer? How in the heck did they all keep it a secret? Seems like there would be leaks with 2000 coins and stories.

I do understand PCGS wanting a control group and feedback............MJ >>

Since many collectors (especially "high-end" ones) are by nature, discreet about their collecting, I'm sure PCGS had no problem with leaks. I remember Don Willis saying in one of his posts, that this was the best kept secret in the hobby, and that they've been working on it for a couple of years. PCGS I am also sure, knew who was most trustworthy.

Steve >>

I'm guessing way more dealers then collectors. JMO. MJ

BigE · March 27, 2010 10:23AM

<< Thanks guys, I appreciate your quick responses -- I guess I should have looked to the Q&A thread first. My bad for rarely visiting these message boards.

Mike >>

Sorry coingame, didn't mean to imply anything as you couldn't have known about the thread, thanks--------BigE

rld14 · March 27, 2010 10:44AM

I'm not at all surprised, in fact it would be bad business for PCGS NOT to let their big players in on this ahead of time, I'm sure their big customers had a sneak preview to submit stuff ahead of time.

19Lyds · March 27, 2010 10:49AM

<< I thought they were not supposed to know who's coins they were grading? >>

They don't!

Every submission sent to PCGS has a name on it but that doesn;t mean the graders know who the coins belong to! Well............other than the 1913 Liberties and certain other ultra rarities.

Nothing has changed or was "subverted" to test the product.

Secure + coins already on the bourse floor at Ft. Worth?

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