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NGC Service Changes for 2011

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Just read this and I am a little frustrated about the crossover service, especially since I just bought an old ANACS holdered coin and planned to cross it. I have a return option if it doesnt cross, but not if its cracked out. I guess I better hurry up and get it in or send it to someone else!

 

NGC 2011 Service Changes

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This is so stupid. Why would anyone want to cross a PCGS coin to NGC? I don't mean this sarcastically but a NGC to PCGS or PCGS to NGC cross seems like a waste of money in most instances. Once you've gotten your coin into a slab of the "Big 2" then why would you want to cross-it over, especially given that you cannot specify a higher maximum grade than what already exists on the holder? I have about 50 conservatively graded old ANACS holders that I wanted to cross; however, I'm not going into debt to send them all in now. NGC is hurting its business, and unless PCGS develops a similar policy, then there will be a lot of lost business going across the street. I could justify them banning coins from third tier grading services, but cross-overs from ICG and ANACS? Come on.

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My speculation is NGC is set to cross another service's coin when it notes a rim bump (as an example) that was not seen while the coin was in the slab. Now NGC is a bit stuck.

With PCGS they're taking less of a chance of such a scenario.

 

Did anyone notice they're charging less for their new reholdering service? Down from $10. to $5. and that includes their new anti-scratch plastic.

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I like the ideas of the new scratch resistance slab

 

. I have a submission in at the moment , I wonder if this will have it done hm

 

Martin

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My speculation is NGC is set to cross another service's coin when it notes a rim bump (as an example) that was not seen while the coin was in the slab. Now NGC is a bit stuck.

With PCGS they're taking less of a chance of such a scenario.

 

 

I thought that at first too, but both ICG and the newer ANACS slabs are clear enough to tell if there are hidden issues. I could understand blocking generic slabs like NNC,etc. but I find it odd that they're excluding ICG & ANACS as well. It seems like this would have a negative effect on the amount of submissions.

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I have an ANACS S VDB cent tha tI want in a NGC slab and I didn't think there was a rush to do it so I'd wait until afer the 1st of the year. It now looks like if I want to have it done I need to overnight it via USPS for it to arrive prior to the 1st of the year. Doesn't make sense for NGC to do this, it will cost them money.

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Just crack it out. They are probably just distancing themselves from some shady grading companies. ANACS is probably not too bad, but companies like ACG, Dominion Grading Co., ICG, etc etc ... they fluff their grades way up, and people get mad at NGC when they return it as is and still charge them a fee for it.

 

Augustus

 

Then why not single out those companies?

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I am surprised by the exception for PCGS. Much as I like the boys ATS a rim ding can be just as concealed in their holders as with ANACS, ICG, PCI, etc.

 

You might argue that PCGS would have considered the ding in their grade assessment. But they too can be caught in the crossover crossfire when they agree to cross from a holder and discover hidden damage after the crack (and follow-through with the slabbing/grading because they are committed at that point).

 

I don't think this is an unwise step for NGC and I think PCGS will do the same.

 

I looked at NGC's authorization-to-crack consent form. The below clause surprised me because cracking by a professional outfit like NGC should be 100% harmless.

Lance.

 

"I understand that NGC will use due care in removing the coin(s) from the holder(s), but agree that NGC will not have any liability for damage to the coin(s) in connection with this removal."

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I had a St Gaudens that was at least a MS62 that PCGS graded as genuine due to a rim ding. Kinda bothersome to have a coin that expensive turned down.
I know how it feels. It's happened to most everyone.

 

Sadly, your rim-dinged double eagle is considered a "problem" coin. The really annoying thing is that many older coins with rim dings are graded and market-acceptable. Large cents, made of pure, soft copper, are often forgiven for dings and scratches that BB newer issues.

 

Here are other reasons, and codes used.

 

* 91 Artificially Colored

* 92 Cleaned

* 93 Planchet (Coin Blank) Flaw

* 94 Altered Surface

* 95 Scratched or Rim Dented

* 97 Environmentally Damaged

* 98 Other Damage

 

Lance.

 

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NGC is free to do what they want. I have and still enjoy buying nice coins from ICG and ANACS at a discount that I think will cross to NGC and PCGS. I guess, for me, I will have only one option in 2011.

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My guess is that the quality of grade produced by some of the third-world companies has degraded so much in recent years that the risk of discovering flaws after NGC cracks the coin is simply too great to be ignored, any longer.

 

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I sold a colorful proof PCGS Roosevelt dime for $100

 

I saw it a few months later in an NGC PR69* for $1500

 

Did he actually get $1500 or anywhere near that price for it? I'm not being sarcastic, but just because someone asks for a price doesn't mean that it is worth that much. Look at eBay and the "Buy-It-Now" offers. Some of them are ridiculous. Those coins will never fetch those prices, not even in a 100 years.

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Well, NGC must have all the work and profit they need or they wouldn't have changed

to not regrading a slab unless it was a PCGS slab. I'll crak one out if it looks to be a higher grade or one from a less-recognised grading company. For the life of me, ANACS is supposed to be one of the oldest grading companies in the US but they are not respected much by some people.

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Has anyone considered the possibility that maybe, just maybe, NGC is getting a little tired of having to spend an inordinate amount of time with irate customers who submit their crossovers only to have them graded lower or rejected at the same grade? It is fairly common knowledge that the "old" ANACS slabs that had been conservatively graded are pretty much gone, but I would hasten a guess that a lot of people still think they have a gem in one of the old slabs. You can't even say that for some of the other grading services.

 

It's kind of like the old farmer who takes his 17 year-old car that has 270,000 miles on it in for repairs, and hits the ceiling when the mechanic gives him an estimate of $3,000. No amount of reasoning will make him understand.

 

Chris

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