NGC Certifies their 10 millionth coin.

[dakra]

I wasn't sure what to make of the following article:NGC Certifies it's 10 Millionth Coin

 

Congrats! Their 10 Millionth coin just happens to be a rare 1913 Liberty Head Nickel (The one that appeared on Hawaii Five-0). I noticed a similar thread over on the PCGS board in regards to the coincidence of what coins have appeared as their 7, 8 and 9 Millionth coin, but I don't want to make a big deal about the coincidences, I'm more concerned with the percieved politics.

 

*PCGS Grades it's 9 Millionth coin.

*David Hall makes a stink because he lost out on the PNG Bidding.

*David Hall takes out a full page ad in Coin World regarding "Respect is earned" (How did this make the April issue is anyone's guess...STOP THE PRESSES!)

*NGC reports it graded it's 10 millionth coin.

 

I'm not sure if NGC's latest article is some how in retaliation to PCGS's war of words but if this becomes an ongoing trend, in my opinion, it is going to be bad for the hobby.

 

In retrospect, the statement by David Hall "Respect Is Earned" is quite an oxymoron. What has David Hall done in the past year or two to earn respect in the coin hobby? I think he has lost some people's respect by his own actions and words. Customer Service at PCGS has left much to be desired and nothing has been done in respect to their turn around times. I lost repect for PCGS due to the Quality Control issues and the "it's not our fault, it's your fault and the US Mint's fault" policy. I have not had any issues with NGC, their customer service has been top notch and they even saved me money on my submissions/S&H... I don't think you will see that with PCGS. David Hall is right, respect is earned and NGC has earned my respect.

 

What is happening behind the scene's at PCGS? Is the war of words a sign that they are losing market share? Is it a panic situation? I thought they were concentrating on their core business model? Is their core business model considered spouting off when they don't get their own way? Is it making themselves look better by pointing out that the ANA and PNG sponsorships are "paid" for? PCGS bid for the same paid sponsorships, if they are not important, then why did they bid on them? but of course when they bid too low and lose...

 

I'm hoping NGC's 10 Millionth Coin isn't in retaliation to PCGS's recent outburst. I'd hate to see them get in the middle of something that I consider PCGS's inner demon. NGC should just stand it's ground and do the things they do best such as Excellent Customer Service and Excellent Grading. Respect will be earned!

 

Just my 2 cents.

 

Dave

[gmarguli]

I'm not sure this article has anything to do with PCGS. For as long as I can remember PCGS used to announce their millionth coins. I'm sure NGC has done the same over the past 17 years. Looks like a professional news release to me.

 

I wonder how the people across the street will take the reality check that NGC has certified more coins than PCGS?

[registrynut-migration]

Does anybody really believe that Steve Contursi's MS 66 Type two dollar was truely the 9 millionth coin to be graded at PCGS ?? What are the odds of a rare, low pop, coin being the exact 9 millionth coin as compared to the thousands of "average" coins being graded at PCGS daily ??

 

Now NGC has an even more rare coin, being the exact 10 millionth coin graded.

What are the chances of that

 

I have totally lost respect for David Hall. His mouth and ego, in my opinion, are doing serious harm to PCGS.

 

Anybody want to make a bet that the 10 millinth coin graded by PCGS will be an 1804 silver dollar ?? { The exact 10 millionth coin }, and guess who will submit it I feel like a pawn in a large, ongoing, GAME !

[Russ-migration]

HMM...A thread with a title that is ostensibly touting an excellent achievement by NGC, yet is in reality a PCGS bashing rant. Why not just congratulate NGC, and leave it at that?

 

SSDD.

 

Russ, NCNE

[Count_Erfit]

Congratulations to NGC for its selection as "Official" grading service for PNG. Some are saying that it was all financial tomfoolery (and it was admittedly a 'bid' process for selection. But, I am glad to see it for one reason. GRADING SHOULD BE UNIFORM AND CONSISTENT WITH STANDARDS. I find NGC to meet that criterion.

 

Some say that they want PCGS because the coins are "better." That may be, but that also is a very misleading reason. IF....if....the coins in the PCGS holders are indeed ...."better"..... then, as much as nicer coins are to be desired, it is NOT what grading coins should be all about. It is called UNDERGRADING. I admit that if I am buying an equivalent grade, I also want it in a PCGS holder if it is possible. Why? Because I know that in MANY cases it is graded lower than even THEIR printed standards state. Why heck! Sure! Gimme the coin that is REALLY XF in a VF holder with a VF price. Who WOULDN'T want that?

 

But, in my opinion it is just as detrimental to the essence of "independent" grading to have one service requiring higher standards than any other in the same manner that it's detrimental to the grading industry for a service to grade too HIGH!

 

As a former dealer and a current collector, I want an XF coin to be XF in ALL slabs. Same wear and appearance.

 

As far as I am concerned, NGC offers a great product. I agree with their grades on what I have submitted in almost all cases.

 

I'll admit to scanning for the other service to find a HIGHER GRADE coin in a lower grade slab.

 

Great fun, but not what independent consistent grading is SUPPOSED to be.

[jtryka]

Well Congrats to NGC on the achievement! But just to put some things in perspective, how many do you suppose each service would have graded if you exclude crack outs? And although 10 million is significant, remember it only represents about 1 day's mintage in State quarters!

[jom]

But, in my opinion it is just as detrimental to the essence of "independent" grading to have one service requiring higher standards than any other in the same manner that it's detrimental to the grading industry for a service to grade too HIGH!

 

That's right. Because many seem to forget that CONSISTANCY is what matters and not how STRICT you are.

 

Undergrading is just as bad as overgrading, IMO.

 

Russ: I would say it is more Hall Bashing rather than PCGS Bashing.

 

To NGC: Congrads on your achievement. Keep up the good work. More importantly, keep up the good customer service. Something that, IMO, could very well as important as your grading.

 

jom

[dakra]

Russ,

Welcome to 'Sleepy Hollow'. Sorry you didn't like my message, I believe it had some valid points about a current situation in the hobby. The message did go beyond the point you brought up, sorry I didn't make it clear enough for you.

 

Thanks,

Dave

[jtryka]

Dave, I wouldn't bother. You see here, we have the opportunity to speak our minds without being bashed or called names. Personally, I don't care about PCGS or its message boards, since everytime I go over there I feel the need to take a shower. If anyone bothered to look, the ratio of NGC/other grading company bashing that goes on over there vs. here, I think you'd find it to be comfortably in the double digits. Here, we care about coins, and we care about our hobby, while there they seem to care about square slabs of plastic, but only if the letters PCGS appear on it somewhere. But that's fine over there, they can talk about what they want, and believe what they want, but it's Russ and people like him that are the reason I have not posted over there since 2002.

[dakra]

jtryka,

Just wanted to be politically correct. Like when he said SSDD, I wanted to reply SSDF (DF=Different Fly) but yes, I stand behind what I said, we don't get censored like they do across the street.

 

Thanks,

Dave