What is PCGS's announcement going to be on March 25?

[MarkW]

My assumption is that they will fully censor ALL forums and they will read as follows:

I a mo co do #$@^%%$#*

[bsshog40]

They will probably start segregating the members. You will have to take a test and provide legal documents for the new forums. The new forums will be listed: "Wealthy", "Knowledgeable", "PCGS Coin Owners", and "All Others".

 

The Wealthy Forum will be filled with PCGS advertisements, PCGS price guides, and of course a Support Ph.# for those inquirying on buying PCGS coins.

 

The Knowledgeable Forum will be for those than can actually provide useful Topics and posts to topics

 

The Coin Owners Forum will be for Registry Point Collectors and those that want to brag about thier Points.

 

The All Others will be for those that do not own PCGS coins, like to insult and degrade others and think they belong in the the other forums.

 

Who knows, I could be wrong!

[James_OldeTowne]

My guess is, PCGS is going to purchase the Federal mint, and from then on, all minted coins will be immediately slabbed and must be purchased by citizens at bluesheet prices from PCGS. "First Strike" coins will sell for a 25% premium.

 

Employees of the mint and of PCGS will, of course, be exempt.

 

 

[Coindude]

I will be at the Fort Worth show also.

PM me, I'll give you my info, maybe we can meet up and terrorize the floor!

[gbsten]

Breaking the news that they've merged with a chinese company and that an exciting new hoard has been found! Profits will be back up this year!

[MunkyMan95]

I got an email from Mark Salzberg of NGC yesterday, and many of the things guessed have already been implemented by NGC in the past year. So, I would imagine even if PCGS is planning on some of these, they are not "The Big One"

 

Ancient Coin Program

Scratch-Resistant EdgeView Holder

Online Verification tool with pictures of every coin

Opened a submission center in China

Details Grading

 

[Conder101]

1 - 100 grading scale

 

Major shake up of the market (All coins will have to be resubmitted, lots of money for PCGS)

 

Fits into their past history of suddenly doing a 180 and implementing something they said they would never do. (mid 80's "We will never slabbed dipped coins", and they started slabbing them. "We will never slabbed cleaned coins" and then they started slabbing cleaned older and high value coins. "We will NEVER put problem coins in a PCGS slab", say hello to the genuine slabs. "We see no reason to go to a 1- 100 grading scale". . . . . )

[MunkyMan95]

Conder, do you think that if they went to a 1-100 scale, it wouldn't be a flop? I'd guess that nearly all of the US collectors who learned to grade coins learned using the present 1-70 system. I'd just send all of my coins to NGC rather than learning to grade all over again.

[gmarguli]

1 - 100 grading scale

 

Major shake up of the market (All coins will have to be resubmitted, lots of money for PCGS)

 

Fits into their past history of suddenly doing a 180 and implementing something they said they would never do. (mid 80's "We will never slabbed dipped coins", and they started slabbing them. "We will never slabbed cleaned coins" and then they started slabbing cleaned older and high value coins. "We will NEVER put problem coins in a PCGS slab", say hello to the genuine slabs. "We see no reason to go to a 1- 100 grading scale". . . . . )

 

I don't recall PCGS ever stating that they would not slab dipped coins. That'd cut out 98% of the classic coin market. And I know that back in 1987 they were grading all my dipped coins I submitted.

 

As for the "never put problem coins in their slab". I do recall David Hall saying that multiple times, but the decision to holder problem coins was made by a different PCGS President many years after the statement - and quite likely around the time classic coins started to dry up for submissions. I also remember being told that they would never allow collectors to submit directly as they're too much of a PITA to deal with and they don't need their business.

 

Any TPG that went to a 100 point scale would quickly become irrelevant. CU has done a lot of moronic things (see: Diamond grading), but I cannot imagine that they would ever be so stupid to try and change the grading scale. Decimal grading (i.e. MS65.5), perhaps. Opening up the circulated grades (i.e. XF-48), unlikely, but perhaps. 100 points? Never.

 

I suspect this "major announcement" will turn out to be nothing but a meaningless piece of fluff. I think I'll vomit if it is about the Registry.

 

My guesses:

 

Changing the CAM/DCAM designation to a scale based on thickness of frost.

 

Changing the Morgan $1 PL/DPL designation to a scale based on level of reflectivity.

 

Listing the overall strike quality on the insert.

 

Designating PL/DPL on all coins, not just Morgans.

 

Learning to grade circulated coins.

[World Colonial]

I agree that an attempted changeover to a 100 point grading scale would bomb. There is nothing sacrosanct about the 70 point system, it just has the benefit of the status quo and that people are used to it.

 

Maybe outside the US but I do not see it here. A British grading service (CGS) uses a 100 point scale. I have no opinion on the quality of their grading but 20 points on the MS scale (80 to 100) is excessive. And I do not see that adding increments such as 65.5 would be much of a benefit either.

[michael]

whatever it is i think in general it will be limiting pcgs liability and/or more revenue generation for pcgs

 

 

which is okie it is a private for profit company and they can do waht they want to do it is the individuals choice weather to do business with pchs or not and of course there is no grading standards as they are unregulated and all subjective so pcgs can change or do anything they want to for grades

 

like a bakery you can buy their cakes the way they make them or not you send them the ingredients( raw coins) and they give you back a finsihed product coins in plastic with a unregulated subjective grade on them

 

------------------------------------------------------------------------------------------------

 

i think a more tamper resistant holder chip implanted?? with photo imaging of coins over a certain value

 

possibly a colaberatuion with the usa federal mint to pcgs slab brand new minted coins and THEN sell them to the public

 

you want to buy a mint set in the mints holder direct fromn the mint greast!! this has been going on for decades

 

you want to buy a MINT set directly from the mint with coins already in pcgs holders with specific grades on them this is great also for more monry

 

or maybe with pcgs holders that just say gem unc choice unc etc

 

i guess time will tell

 

 

[coinman23885-migration]

1 - 100 grading scale

 

Major shake up of the market (All coins will have to be resubmitted, lots of money for PCGS

 

That's diabolical, but it would be interesting. Maybe if NGC, ICG, and ANACS joined, they could all conspire to force resubmission of certified coins.

 

A British grading service (CGS) uses a 100 point scale. I have no opinion on the quality of their grading but 20 points on the MS scale (80 to 100) is excessive. And I do not see that adding increments such as 65.5 would be much of a benefit either.

 

Would you really want to pass up the opportunity to own a MS65.5? Now the registry competition can be even more intense! (Obviously I'm being facetious here). Not only can a difference of 1 point make a difference in price, but then fractions of a point. It would play on people's ego and to a degree their greed. I bet submissions would quadruple as people were trying to beat their competition - who knows, that one-tenth of a point could mean the difference between #1 and #5? Can you imagine the market - MS65.4 - $1000 MS65.5 - $10,000? If this were the case, I'd love to see the new PCGS Price Guide. Too bad they would not actually guarantee those values.

 

They will probably start segregating the members. You will have to take a test and provide legal documents for the new forums. The new forums will be listed: "Wealthy", "Knowledgeable", "PCGS Coin Owners", and "All Others".

 

Haven't they informally started this with their new set of rules - remember Rule #1 - it is their forum and we [they] can basically kick you out if we don't like you. Okay, so I'm improvising (but only a little).

 

Have you all noticed that certain people ATS can get away with almost anything? I also find that some of the members are rather snobby - if you're not in their clique then they don't even bother responding to PMs. I recall one post that stated something along the lines of "PM for prices" and I did and never received a response. There were no updates and I still don't know whether or not the coins are available or whether they have been sold.

 

Oh, and whoever mentioned PCGS starting to sell PCGS coins, wouldn't this completely destroy trust in PCGS being a neutral third party?

[bartlesvilleok]

Maybe they will start grading the front and back both and list both on the slab.

 

[coinman23885-migration]

I wish they would list the grades for both sides.

[just-john]

I would hope that MR. Hall was turning the switch again only this time it was OFF.

But rest assured what he will be doing is the same thing he's always done thats taking money out of the hobby and the collectors pockets and finding new way to put it in HIS .

He's the pied piper and god only knows why so many follow

[RareSov]

Maybe its details PLUS numerical grade. A number with additional comments or notable info

 

Agreed, perhaps a MS65.6 etc.. but not way out of left field

 

Maybe they'll truview coins for free for their online lookup not likely

[BillJones]

Given the big build-up they have given it, I think that there is a reasonable chance that people will be disappointed.

[cpm9ball]

There is one other (ridiculous) possibility which no one has mentioned..............

 

PCGS has entered into a partnership with Jinghuashei in China and will begin grading and encapsulating counterfeits.

 

Chris

[James_OldeTowne]

The Big One is Coming March 25

 

At the PCGS Set Registry luncheon at the FUN show in January I made the following comment...

 

"There will be more announcements and new things coming out of PCGS in 2010 than there have been in the past 20 years combined."

 

PCGS, PCGS CoinFacts, and the Certified Coin Exchange (CCE) will be launching numerous new initiatives, products, and services this year. Some fairly significant things have already been done, such as the Million Dollar Coin Club and the new much faster and cheaper shipping deal. Some things, such as our research on the 1841 quarter eagle and imagining of every U.S. coin and variety on PCGS CoinFacts are ongoing.

 

But all the things we've done so far and all the other things we'll do this year pale in comparison to the announcement we'll be making March 26, 2010 at the Mid-Winter ANA convention. At 1:00 on March 26, 2010 in a gathering place to be determined we will unveil the "next step"...the "new way"..."the big one." If you are going to be at the ANA convention in Fort Worth, don't miss it. If you're not going to be at the ANA, check the pcgs.com home page at 2:00 CST for all the info. THE BIG ONE IS COMING!!!!!

 

PS...Guess all you like...you won't get it because a major part of what we'll be doing comes from way out in left field. But I promise you you'll love it! In February, 1986, we flicked a switch and changed the market...we're going to flick another switch on March 26...

 

HRH

 

EDITED TO ADD...

 

"MY PERSONAL CHECK FOR $1000 TO THE FIRST PERSON WITH THE CLOSEST GUESS...as of my post Saturday 2-6 at 7:00 Pacific time no one was close."

 

IMPORTANT NOTE...Due to scheduling of rooms, etc. we have moved the announcement of "the Big One" to Thursday from Friday. New time is 10:30 Thursday, March 25 at the Ft. Worth Mid-Winter ANA.

 

[gmarguli]

"MY PERSONAL CHECK FOR $1000 TO THE FIRST PERSON WITH THE CLOSEST GUESS...as of my post Saturday 2-6 at 7:00 Pacific time no one was close."

 

I wonder if he understands that "closest" doesn't have to be "close". Will he be giving that money away or just weaseling out of his offer and saying no one was close?

[RareSov]

Weaseling..

[James_OldeTowne]

More possiblities....

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[WinstonWare]

PCGS on steroids Oh I hope not!

[just-john]

It's to inform all PCGS members that all of Pcgs information on coins-values of- SLABED-REGISTERY SETS ECT and members who own them have been sent to the IRS and your tax bills will be arriving in the mail .

[coinman23885-migration]

It's to inform all PCGS members that all of Pcgs information on coins-values of- SLABED-REGISTERY SETS ECT and members who own them have been sent to the IRS and your tax bills will be arriving in the mail .

 

As an aside, I certainly hope not. Can you imagine the market crash and/or slow-down that would result if the registry phenomenon ended? The coin market is thinly capitalized, and if you start targeting the investment banker types (or those more fortunate collectors who have thousands to spend), then chaos will ensue.

 

[coinman23885-migration]

I have two more ideas that no one has mentioned - maybe PCGS will start a visual population report much like the new found Dominion Coin Grading Service (DCGS) does. The coins that just "make" registry caliber can be differentiated in terms of eye appeal from those that are truly registry caliber. A side by side comparison would probably fuel the registry rage. If I were David Hall and/or Don Willis, I would consider this.

 

Also, does anyone think that PCGS will copy NGC's multi-coin holder?

 

Some other interesting, but less likely ideas include:

- Increasing security by allowing the optional GPS chips that can be tracked with special software, much like the software that currently exists for laptops.

 

- PCGS slabs that some how reduce the number of break-outs (i.e. the coins can only be removed by PCGS).

 

- holders that help neutralize the ambient air - perhaps like intercept shield;

 

- UV and other light resistance to keep from damage from sunlight

 

- Specialized labels, perhaps with individual pedigree or personal inventory number as assigned by the submitter, allowing for custom bar-codes that can be used by collectors with sufficient programming experience to create their own inventory software (using Visual Basic, C++, or the like) - seriously - ANACS did publish the Visual Basic code required to read ANACS slabs at one point.

 

- Pre-screen options for everyone and not just dealers;

 

- new fees schedules, allowing for bulk submission;

 

- attribution of all varieties, including VAM, OMMS, RPMs,Blender, Overton, and other attributions

 

- New "star" designation or other analogous knock-off of NGC's interesting idea

 

- coin collecting software or web app tantamount or analogous to Heritage's "My Collecton"

 

- A registry that actually allows NGC coins (yeah right)

 

- PCGS/CAC or PCGS/NGC merger? (not likely, but it would be an interesting idea although it would defeat the purpose of fourth party grading - at least with regards to the CAC merger)

 

- A conservation service like NCS

 

- Full hand designation for Liberty Walking Half Dollars (I'm not kidding)

 

- Fixing the FBL designation so that it is actually meaningful (i.e. using all 6 bell lines instead of only using the bottom three)

 

- Replacing FS, FT, FBL, FSB/FB, FH, or other strike designation with a ubiquitous full detail "FD" designation and applying it to all sharply struck coins, regardless of the series

 

- denoting the amount of reflectivity (as per the number of inches of reflection using newspaper type) on PL and DMPL/DPL designations

 

- Copying NGC's concept (at least with regards to ancient coins) of assigning, in addition to the Sheldon number, a score for strike, luster, contact marks, etc., on a 1-5 sub-scale

 

- denoting both the technical grade and the market grade of a coin

 

- Any of the other ideas that I made in my last four posts

 

The ideas are limitless... Maybe David Hall or Don Willis should read our forum once in a while; I bet that our solutions are probably more innovative than anything they will announce...

 

If they are reading, I am familiar with Visual Basic, C++, and a lot of other useful technologies - you're welcome to consult with me

[coinman23885-migration]

Oh, and I forgot to mention:

 

- issuing a certificate of authenticity with a verbal and photo-description;

 

- certifying proof, mint, and GSA sets in their original holders;

 

- revival of the "rattler" holder;

 

[WoodenJefferson]

I heard even Martha is bringing out the "15 Footer!"

 

[rrantique]

Switch will break March 24th and will have to use a really big button instead.

 

P.s. It will be right next to the other Button marked "Panic"

 

[Conder101]

Also, does anyone think that PCGS will copy NGC's multi-coin holder?

They copied it years ago, they just never bothered to market it effectively.