PCGS only coin dealers...why?

[JIM F.]

There is dealer in the Los Angeles area who refuses to buy/sell NGC graded coins. What is the motivation behind this? Seems bad business to me. What is the motivation for this?

 

 

[nwcs]

I don't think it's wise but I could see it if there are some business relationships at work. Not really different from DHRC (in practice, obviously the connection there is more obvious).

[Bugmann1974]

Perhaps he had a bad experience with NGC? Perhaps it is just the koolaid?

 

You could always ask.

[MarkFeld]

For whatever reason(s) and whether they are right or wrong, they must feel that it's in their best interests.

 

It could be political in nature, based on friendships, better liquidity, customer preferences, personal bias or any number of reasons.

[Walkerfan]

I just met a guy like that at a show a few weeks ago. He told me (although I find it hard to believe) that he can sell PCGS coins 3 times quicker than NGC coins. He said the only coins that has that are NGC (just a few) were on consignment. I'm glad that certain people feel this way because it leaves MANY MORE GREAT NGC coins for me and other Non-Kool Aid drinking folks.

[Brol]

I know one guy, who deals with Russian coins and he said that in Russia No.1 is NGC and Russian collectors choose NGC VS PCGS. I don't know why, but that's what I'm been told by that European dealer.

 

For whatever reason(s) and whether they are right or wrong, they must feel that it's in their best interests.

 

It could be political in nature, based on friendships, better liquidity, customer preferences, personal bias or any number of reasons.

[MarkFeld]

I just met a guy like that at a show a few weeks ago. He told me (although I find it hard to believe) that he can sell PCGS coins 3 times quicker than NGC coins. He said the only coins that has that are NGC (just a few) were on consignment. I'm glad that certain people feel this way because it leaves MANY MORE GREAT NGC coins for me and other Non-Kool Aid drinking folks.

 

What motivation would he have in lying to you?

[Walkerfan]

I just met a guy like that at a show a few weeks ago. He told me (although I find it hard to believe) that he can sell PCGS coins 3 times quicker than NGC coins. He said the only coins that has that are NGC (just a few) were on consignment. I'm glad that certain people feel this way because it leaves MANY MORE GREAT NGC coins for me and other Non-Kool Aid drinking folks.

 

What motivation would he have in lying to you?

 

Who said he's lying?

 

I'm just saying that I see NGC coins selling, all the time, for just as much as PCGS coins.

 

Maybe PCGS works better FOR HIM and FOR HIS customers but on a grander scale, I just don't see it.

 

Hertitage sells MANY,MANY NGC coins for every bit as much as their PCGS counterpart from my research and from what I've seen over the last 10 years.

 

This is a dealer who I know and like, BTW.

[MarkFeld]

I just met a guy like that at a show a few weeks ago. He told me (although I find it hard to believe) that he can sell PCGS coins 3 times quicker than NGC coins. He said the only coins that has that are NGC (just a few) were on consignment. I'm glad that certain people feel this way because it leaves MANY MORE GREAT NGC coins for me and other Non-Kool Aid drinking folks.

 

What motivation would he have in lying to you?

 

Who said he's lying?

 

To me, you sounded as if you doubted his word, when you wrote:

He told me (although I find it hard to believe) that he can sell PCGS coins 3 times quicker than NGC coins

 

[Walkerfan]

I just met a guy like that at a show a few weeks ago. He told me (although I find it hard to believe) that he can sell PCGS coins 3 times quicker than NGC coins. He said the only coins that has that are NGC (just a few) were on consignment. I'm glad that certain people feel this way because it leaves MANY MORE GREAT NGC coins for me and other Non-Kool Aid drinking folks.

 

What motivation would he have in lying to you?

 

Who said he's lying?

 

To me, you sounded as if you doubted his word, when you wrote:

He told me (although I find it hard to believe) that he can sell PCGS coins 3 times quicker than NGC coins

 

I doubt it based on MY own personal experience but I DO believe that it must, somehow, work better for HIM or else why would he do it? So......to each his own.

 

I don't think that he was trying to deliberately deceive me, if that's what you mean.

 

It was interesting to hear him say that, b/c he had never really talked about this to me before or had he said that specifically to me before.

 

He also may have some other vested business interest in PCGS that I don't know of; I didn't ask about that. So, I'm not sure.

 

 

[e1cnr]

there are millions of coins to handle, maybe they have the most confiedence with PCGS

 

 

are they one of the foundIng dealers who helped become market makers for PCGS slabs?

[Walkerfan]

there are millions of coins to handle, maybe they have the most confiedence with PCGS

 

 

are they one of the foundIng dealers who helped become market makers for PCGS slabs?

 

No, I can say with certainty that the guy that I spoke with was not.

 

He was a much smaller fish.

[Keigwin]

I know at least a few dealers who feel this way, well respected ones. They are blunt about their reasons. I listen politely and then I buy the coin I like.

 

If it's in NGC plastic and I need it for a PCGS registry I factor-in the cost to cross it. Otherwise NGC plastic is just fine.

Lance.

[Walkerfan]

I know at least a few dealers who feel this way, well respected ones. They are blunt about their reasons. I listen politely and then I buy the coin I like.

 

If it's in NGC plastic and I need it for a PCGS registry I factor-in the cost to cross it. Otherwise NGC plastic is just fine.

Lance.

 

I feel the same way for sure.

 

I just don't play the crossover game, b/c It is costly, time consuming and, from what I hear, unsuccessful many times.

 

For that reason I will, most likely, never have a PCGS registered set.

[BruceTucson]

Well PCGS is located in California and the dealer is also. This alone could open up a variety of reasons.

[JIM F.]

Well PCGS is located in California and the dealer is also. This alone could open up a variety of reasons.

 

I'm not quite following the logic here. Wouldn't that be like saying the Sacramento mint is in CA so a CA dealer would only buy and sell S-mint coins?

 

 

[dimefreak]

In my recent experiences NGC is tighter albeit they are both tight right now. Sent a coin to NGC and it came back MS64. Same coin went MS65FB two months later ATS. Hard for me to send coins to NGC knowing they are tighter and demand less money. I sure wish and hope NGC can do something to up their demand. Im not a kool aid drinker but like most I like money

[jesbroken]

I met a west coast dealer at the Baltimore show a couple of years ago, and if I remember correctly, he told me that he used pcgs because he was close enough to hand carry his coins in to be graded. At the time, I thought that odd because I knew that NGC did not allow coins to enter their system other than through the postal system, no drop offs, but did not know about pcgs. If this is true, I can see how much money would be saved from the shipping and insuring fees alone.

Jim

[MarkFeld]

I met a west coast dealer at the Baltimore show a couple of years ago, and if I remember correctly, he told me that he used pcgs because he was close enough to hand carry his coins in to be graded. At the time, I thought that odd because I knew that NGC did not allow coins to enter their system other than through the postal system, no drop offs, but did not know about pcgs. If this is true, I can see how much money would be saved from the shipping and insuring fees alone.

Jim

 

Even if that is accurate, it shouldn't have anything to do with refusing to buy and deal in NGC coins.

[Keigwin]

It has nothing to do with saving a few dollars on submissions or convenience. It has to do with a perception, from years ago, that PCGS was tighter.

 

I think NGC saw this and reacted. Maybe CAC drove home the point. Today the two are on a par and ignoring NGC-coins is a dumb business decision IMO.

Lance.

[relicsncoins]

Well PCGS is located in California and the dealer is also. This alone could open up a variety of reasons.

 

That's what I was thinking. Maybe he drops off all of his coins to be graded in person. Maybe he meant he only sends coins to PCGS because of this reason, but would by and sell a NGC coin from a customer.

[Kurtdog]

There is dealer in the Los Angeles area who refuses to buy/sell NGC graded coins. What is the motivation behind this? Seems bad business to me. What is the motivation for this?

You entitled this thread, "PCGS only coin dealers...why?" If this dealer is dealing in PCGS slabs, only, he's stooging for PCGS. That's how I'd see that, which is beyond just a preference or a bias or an inclination to deal in PCGS slabs. There are a number of such collectors out there like that, too, who categorically require everything in PCGS slabs. Find them, of course, as well as this dealer, I'm sure, ATS.

[ldhair]

Sounds like the dealer has set limits on his business.

NGC must have ticked him off over something.

[cpm9ball]

I met a west coast dealer at the Baltimore show a couple of years ago, and if I remember correctly, he told me that he used pcgs because he was close enough to hand carry his coins in to be graded. At the time, I thought that odd because I knew that NGC did not allow coins to enter their system other than through the postal system, no drop offs, but did not know about pcgs. If this is true, I can see how much money would be saved from the shipping and insuring fees alone.

Jim

 

Unless NGC has changed their rules again, I believe you're mistaken. Until 2005, any NGC member could make an appointment to hand-deliver their submissions to NGC. I used to do this since I'm only an hour away, and I'm not a dealer. This was changed in 2005 to allow only dealers to make appointments. I don't recall ever reading that this rule has been changed since then, so I can only assume that dealers are still allowed to hand-deliver submissions.

 

Chris

[jesbroken]

Thanks, Chris, for straightening me out. I must have ASSumed that as individuals couldn't hand deliver their coins, that neither could anyone, my bad. I think anyone should be able to deliver their coins by appointment only, of course.

Jim

[BillJones]

Surveying the posts ATS I’ve noticed that the Kool Aid is flowing in bountiful quantities over there. There are regular posting of NGC graded coins that are perfectly okay in their current holders that these guys are fretting about crossing over to PCGS. Part of it is the perception that PCGS coins sell faster at higher prices. Like it or not more collectors have that perception than the other way around.

 

When I was a dealer I used see both brands sell with equal speed although I have to admit that I handed more PCGS coins because the dealers who supplied me had more PCGS coins. As for myself I can remember the grades of the coins I have, and I have pictures of my coins in my mind; but I often can't remember if the coin is in a PCGS or NGC holder.

[Kurtdog]

There are regular posting of NGC graded coins that are perfectly okay in their current holders that these guys are fretting about crossing over to PCGS. Part of it is the perception that PCGS coins sell faster at higher prices. Like it or not more collectors have that perception than the other way around.

Bill, don't they need to have their coins in PCGS plastic to play their registry sets game over there, as well? I don't know, exactly, but I think I've heard rumors to that effect.

[cpm9ball]

Thanks, Chris, for straightening me out. I must have ASSumed that as individuals couldn't hand deliver their coins, that neither could anyone, my bad. I think anyone should be able to deliver their coins by appointment only, of course.

Jim

 

I can understand their reasoning for allowing only dealers. For the price of membership, anyone with criminal intentions might be able to gain access to the work areas where coins of untold value are processed and stored.

 

Chris

[BillJones]

There are regular posting of NGC graded coins that are perfectly okay in their current holders that these guys are fretting about crossing over to PCGS. Part of it is the perception that PCGS coins sell faster at higher prices. Like it or not more collectors have that perception than the other way around.

Bill, don't they need to have their coins in PCGS plastic to play their registry sets game over there, as well? I don't know, exactly, but I think I've heard rumors to that effect.

 

Yes, they do, and that is precisely why I won't participate in their registry.

[jom]

The reasons I can think for an experience dealer NOT to deal in NGC graded coins:

 

1) Political and/or personal reasons or...rather some sort of business relationship.

 

2) They do "deal" in NGC graded coins but end up cracking and crossing over to PCGS

 

3) They really aren't experienced dealers and they have no clue how to look and evaluate a coin. They need the "slab protection" of PCGS.

 

As to #3 I just don't see any reason a good experienced dealer NOT to look at ALL coins regardless of the holder that it is in.

 

As to PCGS's location in CA...that is reasonable because it's a quicker turn around if you leave here...I suppose...especially where I'm at...I can practically walk to PCGS (and Bowers/Stacks for that matter).

 

jom