I've noticed a trend that most collectors probably already know,But here goes.

[beck18-migration]

Since I am a newbie to collecting (only about 4yrs seriously) I've noticed that NGC grades all of the Modern U.S. Coins from the mint en masse. I have never seen so many MS69 or 70's so prevalent for uncirculated coins. Do they make deals with dealers on the amount of 69 or 70's they want. To me it seems that dealers can fill out an order sheet for what they want. When I collected certified coins I picked up NGC because of the price. And coins graded by PCGS were at least 25% more in price. Has this always been like this? The owners of NGC are really holding a gold mine.I am not taking a shot at NGC. It's just an observation. Thanks Beck

[Schatzy]

I have never seen so many MS69 or 70's so prevalent for uncirculated coins. Do they make deals with dealers on the amount of 69 or 70's they want.

 

On the modern commemoratives getting a coin graded MS69 or MS70 is pretty easy.

The mint is doing a better job at producing coins.

People that send in coins are also getting better at spotting a MS70 over the MS69.

NGC does not make deals with dealers.

 

I sent in 20 of the bald eagle commemorative and 8 were MS70-PF70 and the rest 69.

 

Hope this helps!!

[jackson64]

I believe the opposite to be the case. I believe the quality at the mint is so high that most coins are legitimate 69's and 70's. I believe it is PCGS who sets an unwritten and unspoken quota on the number of 70's they issue.

 

Why would they do this, you ask?

 

Although it ensures that NGC gets the lion's share of modern submissions, it also serves the purpose of generating the impression that PCGS is the stricter of the two top services (or that they have higher standards).

This ensures a large business for PCGS in older coins. If I had a very nice 1832 Half Dollar in MS63 quality..submitting to PCGS instead of NGC ensures that the same coin just got a 25-30% boost in value. If it comes back as a lower MS62, then I crack open the slab and send it to NGC and hope I get my 63 with them...

 

The intricacies can get even deeper than this, however this is what I've found to be the gist of how it CURRENTLY works...grading standards for both companies loosens and tightens through different periods...

[BillJones]

ON AVERAGE, NGC has been little easier on modern coins than PCGS, but don't get the idea that PCGS is doing that with the welfare of the collector in mind. PCGS controls the number of high grade modern coins they slab to keep the prices up. They want the registry lemmings to pay high prices to keep themselves on the top of the registry heap. That makes PCGS look good.

 

As for high grade modern coins, all you need do is buy mint sets. The quality of the coins in those sets has increaed markedly in recent years.

[gmarguli]

Modern coins are submitted to all the services the same way. Buy a boatload from the Mint and ship it off without looking at it under the bulk tier and specify a minimum grade (usually 69).

 

NGC gets a ton of these as they are faster with turnaround times and they give more 70s which increases the profit for the submitter. There isn't anything special about this process or the decision of the submitters.

[michael]

 

 

On the modern commemoratives getting a coin graded MS69 or MS70 is pretty easy.

The mint is doing a better job at producing coins.

People that send in coins are also getting better at spotting a MS70 over the MS69.

NGC does not make deals with dealers.

 

I sent in 20 of the bald eagle commemorative and 8 were MS70-PF70 and the rest 69.

 

Hope this helps!!

 

(thumbs u (thumbs u

[michael]

I believe the opposite to be the case. I believe the quality at the mint is so high that most coins are legitimate 69's and 70's. I believe it is PCGS who sets an unwritten and unspoken quota on the number of 70's they issue.

 

Why would they do this, you ask?

 

Although it ensures that NGC gets the lion's share of modern submissions, it also serves the purpose of generating the impression that PCGS is the stricter of the two top services (or that they have higher standards).

This ensures a large business for PCGS in older coins. If I had a very nice 1832 Half Dollar in MS63 quality..submitting to PCGS instead of NGC ensures that the same coin just got a 25-30% boost in value. If it comes back as a lower MS62, then I crack open the slab and send it to NGC and hope I get my 63 with them...

 

The intricacies can get even deeper than this, however this is what I've found to be the gist of how it CURRENTLY works...grading standards for both companies loosens and tightens through different periods...

 

(thumbs u

[michael]

ON AVERAGE, NGC has been little easier on modern coins than PCGS, but don't get the idea that PCGS is doing that with the welfare of the collector in mind. PCGS controls the number of high grade modern coins they slab to keep the prices up. They want the registry lemmings to pay high prices to keep themselves on the top of the registry heap. That makes PCGS look good.

 

As for high grade modern coins, all you need do is buy mint sets. The quality of the coins in those sets has increaed markedly in recent years.

 

(thumbs u

[RareSov]

Dealers can send 100 coins or more, and specify a min grade of 70

 

Coins that make the grade will cost around full price (what we pay using discount currently) and the rest cost 0 - but the dealer knows to sell them all in boxes.

 

If there is no min grade set or its 69, they get the 69's for a much cheaper price, half price or less. This works for the dealer too, because the price for encapsulation is barely more than reholder price

 

My advice of course is to NEVER buy boxed coin from a dealer.

 

I would assume it works for NGC because being all the same coin, one grader can be committed to the lot and charge through them all. QC still has to check them all, so that would be a second grader. I doubt they follow the same grading procedure for a bulk submission, it makes no sense to.