PCGS only coin dealers...why?

[MJ]

"PCGS only" dealers go after a niche market. I think it's as simple as that. MJ

[James_OldeTowne]

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?

As someone else stated, it's pursuit of a silly niche market.

 

This is no joke: I will not even bother to look at a dealer's coins if I have the perception that he's a "PCGS only" guy. That's enough to tell me he's oblivious to reality in the coin market. And if someone were a "NGC only", or "ANACS only", or whatever other silly game there to play, I just pass. I don't care if it means I might miss out on a few coins, either.

 

There's a certain well known and obnoxious dealer in mostly Morgan dollars. In years past, if you showed him ANYthing in plastic other than NGC, he'd just reply in this really condescending, annoying accent: "it's in da wrong hold-uh". But I noticed after a few years that he suddenly realized he was missing out on 2/3 of the market, and to his credit, he now stocks coins of all brands of plastic -- and I'm pretty sure he's mostly NGC now!!

[Kurtdog]

As someone else stated, it's pursuit of a silly niche market.

Or an insane asylum. Never forget, all you need to start an asylum is an empty room and the right kind of people.

[gmarguli]

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?

 

When did Sacramento get a mint?

[e1cnr]

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?

 

When did Sacramento get a mint?

 

 

clearly, you have missed the logic and comparison

[Mr.Mcknowitall]

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?

 

 

It may be that the Dealer is availing him/herself of that wonderful U.S. institution known as Freedom of choice.

 

Respectfully,

John Curlis

[James_OldeTowne]

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?

It may be that the Dealer is availing him/herself of that wonderful U.S. institution known as Freedom of choice.

I'm sure we all realize he's entitled to, and is making a "choice". I believe the OP wonder's why any dealer would actually make such a choice....

[JIM F.]

In all fairness, this dealer offers excellent services in terms of buying and selling bullion. Seems odd to me that they do not offer to buy or sell graded coins other than PCGS. This is not a small time dealer, so they have resources and appear to know what they are doing. They have significant amounts of PCGS graded material available.

 

So I use other channels when buying/selling NGC graded coins.

 

My original post is to try to see if any posters here have insight as to why any dealer would limit their graded coin dealings to PCGS only.

 

Thank You

 

 

[Mr.Mcknowitall]

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?

It may be that the Dealer is availing him/herself of that wonderful U.S. institution known as Freedom of choice.

I'm sure we all realize he's entitled to, and is making a "choice". I believe the OP wonder's why any dealer would actually make such a choice....

 

Again, Freedom of choice can be why.

Chevy/Ford kind of thing.

 

Respectfully,

John Curlis

[physics-fan3.14]

Again, Freedom of choice can be why.

Chevy/Ford kind of thing.

 

Respectfully,

John Curlis

 

Not the same at all. There is a clear quality and technical difference between those 2 products, whereas there is more a perception of a difference between NGC and PCGS.

[Kenneth 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?

 

When did Sacramento get a mint?

 

[Kenneth F]

Hey, I ONLY buy mint chocolate chip.. so dont bring your Rocky Road to me... sucka!!

 

[Mr.Mcknowitall]

Again, Freedom of choice can be why.

Chevy/Ford kind of thing.

 

Respectfully,

John Curlis

 

Not the same at all. There is a clear quality and technical difference between those 2 products, whereas there is more a perception of a difference between NGC and PCGS.

 

My Goodness!!

I did not make the point sufficiently scientifically clear.

I received a failing grade.

I am going to go say the Rosary now, and try to face the Humiliation this has caused me, and make amends to my fellow Forum Members.

I pray I will be accepted back into the Class.

 

Respectfully, (but shamefully),

John Curlis

[Kurtdog]

Again, Freedom of choice can be why.

Chevy/Ford kind of thing.

 

Respectfully,

John Curlis

 

Not the same at all. There is a clear quality and technical difference between those 2 products, whereas there is more a perception of a difference between NGC and PCGS.

 

My Goodness!!

I did not make the point sufficiently scientifically clear.

I received a failing grade.

I am going to go say the Rosary now, and try to face the Humiliation this has caused me, and make amends to my fellow Forum Members.

I pray I will be accepted back into the Class.

 

Respectfully, (but shamefully),

John Curlis

Chevy dealerships deal in Chevys because...drumroll...they're supported by Chevy.

[coinman_23885]

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.

 

My understanding is that NGC was actually perceived as the stricter of the two in the beginning (at least for the first two years of its operation). I recall reading Scott Travers's Coin Collector's Survival Manual several years ago, and there was a strong NGC premium in the beginning based on historic prices (i.e. Greysheet bid). Does anyone know what caused the change in perception? Is it marketing? Do you think that PCGS promoting market makers and sight unseen bids (things rejected by NGC) led to this change in perception?

 

[MarkFeld]

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.

 

My understanding is that NGC was actually perceived as the stricter of the two in the beginning (at least for the first two years of its operation). I recall reading Scott Travers's Coin Collector's Survival Manual several years ago, and there was a strong NGC premium in the beginning based on historic prices (i.e. Greysheet bid). Does anyone know what caused the change in perception? Is it marketing? Do you think that PCGS promoting market makers and sight unseen bids (things rejected by NGC) led to this change in perception?

 

I am not aware that there ever was such a perception. I was actively buying and selling NGC and PCGS coins at that time, and do not believe that in general, NGC coins traded at a premium to PCGS coins.

[Kurtdog]

Does anyone know what caused the change in perception? Is it marketing? Do you think that PCGS promoting market makers and sight unseen bids (things rejected by NGC) led to this change in perception?

Let me put it this way. If Pavlov can physiologically-condition a group of caged dogs to salivate at the ringing of a bell, ...

[e1cnr]

I think it has to do with personal preference

 

 

I do have a strong opinion on which company does more self-promotion

[James_OldeTowne]

I'll throw out the unwritten statement that I suspect many would like to make.

 

If PCGS were to offer me "favors" in grading the coins I sent in for certification, I might gladly agree to deal only in PCGS plastic.

 

Fortunately, we all know that PCGS would never do such a thing .

[mkman123]

I like both companies and buy the coin not the holder.

[e1cnr]

I'll throw out the unwritten statement that I suspect many would like to make.

 

If PCGS were to offer me "favors" in grading the coins I sent in for certification, I might gladly agree to deal only in PCGS plastic.

 

Fortunately, we all know that PCGS would never do such a thing .

 

 

would 'favors' come as a result of bulk submissions, where the submission fees go up with increasing grades?

[Keigwin]

James, can you elaborate? What is it that PCGS does and NGC does not, and how is it known?

Lance.

[MarkFeld]

I'll throw out the unwritten statement that I suspect many would like to make.

 

If PCGS were to offer me "favors" in grading the coins I sent in for certification, I might gladly agree to deal only in PCGS plastic.

 

Fortunately, we all know that PCGS would never do such a thing .

 

I don't believe that. Even among large dealers who appear to have plenty of liberally graded PCGS coins, they don't deal in PCGS coins exclusively. In fact, many of them deal in NGC coins as much as or more than PCGS coins.

[DirtyGoldMan]

I buy both coins but prefer the coins to reside in the PCGS holder. Often I will cross coins from NGC to PCGS, but never the other way. Some coins, like 20th century gold, I only buy in PCGS holders.

[PerryHall]

I like both companies and buy the coin not the holder.

 

Totally agree!!!!!!!!!!!!!!!

[tejas1836]

I buy both coins but prefer the coins to reside in the PCGS holder. Often I will cross coins from NGC to PCGS, but never the other way. Some coins, like 20th century gold, I only buy in PCGS holders.

 

I respect anyone's preference for a particular TPG and your collection speaks for itself.

 

I am curious though why you buy only 20th century gold in PCGS holders.

[JIM F.]

"Most investors know that all investment coins must be PCGS (The Professional Coin Grading Service) certified because this greatly enhances worldwide liquidity."

 

This is stated on the dealer's website. Again, I have nothing against anyone's preferences and the dealer has always dealt fairly with me.

 

Yet I still have not heard any theories as to why any dealer will not buy or sell NGC graded coins. That's all.

 

 

[Kurtdog]

"Most investors know that all investment coins must be PCGS (The Professional Coin Grading Service) certified because this greatly enhances worldwide liquidity."

 

This is stated on the dealer's website. Again, I have nothing against anyone's preferences and the dealer has always dealt fairly with me.

 

Yet I still have not heard any theories as to why any dealer will not buy or sell NGC graded coins. That's all.

Hey, don't include me in that bunch, I told you what I thought. Sure, it may have been a little on the discrete side, but, heck, don't blame my mother for having taught me good manners. That'd really honk me off!