NGC Details Grading to Begin September 1, 2009

[Scott_Schechter]

Today at the ANA Show, NGC is annoucing that we will begin NGC Details Grading on September 1, 2009. Automatically and at no additional charge, coins submitted for NGC grading that have detrimental surface conditions will be graded by NGC with a details grade and notation of their surface condition. For many submitters, this will mean the end of "body bags."

 

A comprehensive release is posted here: NGC Details Grading Announcement

 

A bit more information is also now available at www.ngccoin.com/details, which will be the future home of information about this service.

[DC Dawg]

Kudos to NGC for doing this. I think this is a better option than the old system or just marking the label as "Genuine," as your competitor does. It is more informative and gives the collector more information. (thumbs u

 

Scott

[physics-fan3.14]

I'll try and summarize the key points as I see them for those without the time or inclination to read the full article:

 

* The problem is clearly noted on the holder, as with previous NCS details slabs

 

* NCS will no longer encapsulate coins with details grades, these coins will now be in NGC Details graded slabs

 

* Coins can be crossed over from NCS details slabs to the new NGC slabs

 

* The NGC details slab will have a purple label and white prongs, as opposed to the former (and in the opinion of many, superior) clear prongs of the NCS slabs

 

* NGC details grade slabs will be admitted to the Registry at 50% of the point value of the problem-free coin.

[physics-fan3.14]

Questions:

* Will we be able to now include NCS problem coins in the Registry at the same 50% value, or will they need to be crossed to NGC to be included?

 

* Will PCGS Genuine coins be entered into the registry at the same 50% value?

[WoodenJefferson]

Very smart move on the part of NGC

[MunkyMan95]

Awesome. No more bodybags.

 

Thank you, NGC!

[coinman1794]

This will streamline the grading process at NGC. It never made sense for NCS to be slabbing coins and have thier own holder, since the same NGC graders were doing the grading, either way.

 

Elimination of the NCS holder would certainly free up the clear prong design for use at NGC in the furure. Hopefully that is planned down the road. If the clear-prongs are going away forever, then the only headline is: NGC Eliminates Their Most Popular Holder.

[leeg]

(thumbs u

[Dwaine]

I like the sound of this and think it is much better than just saying Genuine.

 

Thanks NGC.

[jonathanb-migration]

Hallelujah. I have a couple handfuls of pieces that I felt were borderline NGC or NCS previously, and I just couldn't bother dealing with the whole two-part submission process when I wasn't sure which was appropriate anyway. With this new policy, it's a no-brainer for me to add them to my next submission. Thanks for simplicity, NGC!

[James_OldeTowne]

No more bodybags? Good riddance!

[Scott_Schechter]

Questions:

* Will we be able to now include NCS problem coins in the Registry at the same 50% value, or will they need to be crossed to NGC to be included?

 

* Will PCGS Genuine coins be entered into the registry at the same 50% value?

 

Thanks, everyone, for the positive comments.

 

In answer to the above questions, yes, NCS details graded coins will be accepted at the same 50% point value as NGC Details Graded coins.

 

PCGS Genuine coins will be eligble for the Registry also. Coins that were called Genuine without grade by NCS and PCGS Genuine coins will be scored with the PR-AG (Poor to About Good) score, or the lowest score level since there is no grade from which to calculate their score. Note the NCS Genuine coins can be NGC Details Graded for $5 using the forthcoming NCS CrossOver service.

[Bugmann1974]

Sounds like a great deal all around (thumbs u

 

Now if we could only convice you guys to use the clear prongs...

Its unlikely, I know.

[RareSov]

Great stuff ! pity about no clear prongs though ?

 

The 50% seems okay too. Very hard to put one set figure so good place to start

 

Even though I rarely send coins that could bodybag, this is really great news thankyou NGC

[ant]

Awesome. No more bodybags.

 

Thank you, NGC!

 

+1

[stinkycheese1]

Also, if I read it correctly, it seems if you have had a coin that had been BB"d in the past, you can send it into NGC now and get it in a Geniune details holder. Pretty nifty.

[jackson64]

prongs, prongs, prongs..the clear prongs aren't really "opaque" or "transparent"..they still cover a small % of the rim..let's just give them a day or two of thanks for this major change for the better before we start complaining about how else they should change their company to suit us...it gets old, sheesh

 

I love coins, thanks for giving me a cheaper and more hassle-free way of getting coins that I like encapsulated and either certified & graded or at least authenticated...

[rrantique]

Awesome. No more bodybags.

 

Thank you, NGC!

 

[coinman1794]

prongs, prongs, prongs..the clear prongs aren't really "opaque" or "transparent"..they still cover a small % of the rim..let's just give them a day or two of thanks for this major change for the better before we start complaining about how else they should change their company to suit us...it gets old, sheesh

 

I love coins, thanks for giving me a cheaper and more hassle-free way of getting coins that I like encapsulated and either certified & graded or at least authenticated...

 

Actually, they magnify the part of the rim that the white prongs completely hide.

[rons]

That is terrific news. Thanks for listening to the complaints and acting in a positive manner to rectify the problem. Just another collector friendly decision made by the TPG that listens to their clients

[MarkW]

Excellent move!

[coinsbygary]

Here's my take on it:

September 1, 2009 NGC, will details grade all problem coins and allow 50% points in the registry. This news comes to me with mixed emotions. If my registry goal is to compete, then having problem coins in my set is not for me. However, if my goal is to complete my set, the picture changes dramatically for me.

 

Now for the first time, all the expensive problem gold coins I own in ANACS holders will cross into NGC registry sets. For instance, I have an 1846 Dahlonega half eagle details grade fine that is plugged, tooled, and whizzed. Now I know this coin is a fright, but Dahlonega mint non-problem coins are very expensive. This opportunity allows me to NGC encapsulate my coin and include it in the registry for my mintmark type collection. Another benefit of this is to catalog my problem coins in my Collector’s Society coin list.

 

Then again, another part of me is of the purist mindset that this represents a slippery slope to shoddy registry sets. Regardless of my opinion, this is the direction the industry is moving, recently evidenced by PCGS going with genuine holders.

 

I think in the end I will cross over all my problem coins and insist on buying non-problem coins in the future. This announcement must make all the E-Bay sellers of problem raw coins jump for joy. Now my fear is that the market place will be flooded with these coins, but then again I’m all for encapsulating coins to protect the coins from further damage and their owners from fakes.

 

I’m interested in the Societies take on this; let me know what you think. Here is the link to the announcement:

http://www.ngccoin.com/news/viewarticle.aspx?IDArticle=1288

 

[coinman1794]

Here's my take on it:

September 1, 2009 NGC, will details grade all problem coins and allow 50% points in the registry. This news comes to me with mixed emotions. If my registry goal is to compete, then having problem coins in my set is not for me. However, if my goal is to complete my set, the picture changes dramatically for me.

 

Now for the first time, all the expensive problem gold coins I own in ANACS holders will cross into NGC registry sets. For instance, I have an 1846 Dahlonega half eagle details grade fine that is plugged, tooled, and whizzed. Now I know this coin is a fright, but Dahlonega mint non-problem coins are very expensive. This opportunity allows me to NGC encapsulate my coin and include it in the registry for my mintmark type collection. Another benefit of this is to catalog my problem coins in my Collector’s Society coin list.

 

Then again, another part of me is of the purist mindset that this represents a slippery slope to shoddy registry sets. Regardless of my opinion, this is the direction the industry is moving, recently evidenced by PCGS going with genuine holders.

 

I think in the end I will cross over all my problem coins and insist on buying non-problem coins in the future. This announcement must make all the E-Bay sellers of problem raw coins jump for joy. Now my fear is that the market place will be flooded with these coins, but then again I’m all for encapsulating coins to protect the coins from further damage and their owners from fakes.

 

I’m interested in the Societies take on this; let me know what you think. Here is the link to the announcement:

http://www.ngccoin.com/news/viewarticle.aspx?IDArticle=1288

 

Even problem coins are in need of authentication, especially today. Holdering them will also prevent future owners from sending them in, and more importantly, from buying them as problem free in the first place.

[physics-fan3.14]

Then again, another part of me is of the purist mindset that this represents a slippery slope to shoddy registry sets. Regardless of my opinion, this is the direction the industry is moving, recently evidenced by PCGS going with genuine holders.

 

 

I actually think quite the opposite. I think this is a great thing for registry sets. I believe we will see a lot more hard to find coins now - coins that are rare, but are usually found with problems. Sets with problem coins will never reach the top because they are limited to 50% values, but I think we will see a lot more completed sets.

[coinsbygary]

Shoddy registry sets is perhaps a strong word. In the past I have been burned by "no grade" coins and I may be over reacting to a negative experience. Regardless, I have been more conscience in buying non-problem coins and the effect on my collection to make it so much better. You are correct in that bringing a high cost problem coin into the mix that normally would not be there is a good thing. I will still purchase these coins as my budget dictates, but very sparingly.

[coinsbygary]

Another point I had not thought of is this makes good business sense for NGC. Why would anyone submit their coins to PCGS for a genuine label, when they can get a details grade with NGC. Sooner or later PCGS will come around to details grading now that everyone else in the industry does it. It really makes good sense for NGC to be first. Kudos to NGC on their cutting edge inovation.

[AYA3]

Overall I think this is a good move for NGC.

Here is my question. If I understand this correctly, to have the BBs for improperly cleaned Walkers net graded and put into NGC holders I will need to re-submit them. However, if I am going to pay the grading fees again - should I submit them raw. Or should I resubmit and include the paperwork from previous submission?

 

The Walkers in question are several early key dates, all nicely toned AUs that I still have a hard time detecting the cleanings.

 

Thanks NGC!

Andy

 

[jtryka]

So finally the top graders are doing what ANACS did 20 years ago! Better late than never, and a win for collectors overall. Congrats!

[MorganMan]

It is about time. I was just going to do a basic membership next year because of bodybagging. I was tired of paying good money for grading, and getting nothing back for a bad coin.

 

Face it, most of us can not afford that MS-65 1899-CC, but we maybe can afford a lightly cleaned AU58 one. I recently bought a 1904-S Morgan that had a few hairlines, but was otherwise MS62. It would not grade, but looks wonderful in my album.

 

Another thing. If a coin has only 5000 minted, a cleaned one is just as rare in my opinion as a non cleaned one. It is still 99.999 % of the same metal from the same dies. To me, the fact that someone years ago (when it was accepted), dipped the coin does not make it any less of a coin. I do admit however, there is a fine line between light cleaning, and totally destroying a piece.

 

 

Ok purists....Fire away!

 

 

MM

 

PS: One thing does suck. I just sent 5 coins off to grading (coupons expired 8-20-09. A couple are probably BB's. I sure wish I could have waited a couple of weeks.

 

[World Colonial]

I considered it ridiculous that these coins were bodybagged in the first place. It is about time though it is good it is finally happening.

 

It's not clear to me though whether coins will be submitted the same way for conservation to NCS still.

 

On the registry sets, I am not interested in them but adding problem coins is a benefit because I consider a more complete population report valuable information to the collector. It will give everyone a better indication of absolute and relative scarcity. I doubt it will matter much for my series but it will for US coin collectors.

 

I have no evidence to support this comment, but I suspect that this change will also improve the marketability of problem coins or at least some of them. For the coins I collect anyway, the discount between NGC and NCS coins is huge. I would say about 75% on average which in many instances I consider excessive.