NGC Nukes the World Coin Registry

[JCM-Houston]

As for the recent announcement that NGC will no longer accept PCGS graded coins in the registry I would just like to say.

 

I think it is the worst idea ever. While I would understand saying that sets need to be 50-75% NGC, pulling all the PCGS coins is just bad news.

 

So PCGS takes all the best ideas that NGC comes up with (edgeview, oversea offices), and NGC in turn steals PCGS's bad idea, doesn't seem like a fair trade for NGC.

 

And guess what NGC, I will not send a single PCGS coin in for crossover, if you think the idea is to take more money from me by forcing all registry sets to be only NGC coins you are sadly mistaken, I simply won't put coins into registry sets any more. And the two submissions I just sent in, they will be my last. The other 14 coins I have waiting for grading will go somewhere else.

[TwoKopeiki]

I'm with you, JCM.

 

Half of the coins in my sets are PCGS. I will not spend hundreds of dollars crossing them over to NGC because most are solid graded and I will just be throwing money away to get into a different holder. Most likely going to abandon some of my sets as an outcome of this change.

 

The decision may benefit NGC in the long run, but the execution is very poor. You want to force people to convert? How about delivering great customer service and offering a free cross-over period? Otherwise you're just openly telling a portion of your loyal customer base to screw off.

 

Cheers,

 

Roman.

 

 

[coin928]

I think this is great! I used to have only one collection, but now I can have two. Two equally mediocre collections containing distinctly different coins. I can display my PCGS coins on the PCGS site and my NGC coins on the NGC site and never have to concern myself with trying to create an award winning set on either one. What a relief. I had been trying to create a great collection of the best coins I could afford. Now I know what's really important. All the value's in the holder, not the coin! I feel like such a fool. PCGS and NGC now agree on this, so it must be true.

 

[END SARCASM]

 

Seriously, if anyone is truly in favor of this change, I'd love to hear their point of view. This just seems like a great way to decimate the registry and alienate a lot of otherwise loyal collectors.

 

On the other hand, this could be a new business opportunity. If NGC goes through with this change, I hope that someone (who is independent of all grading services), has the wherewithal to create a new collector's site that will include both PCGS and NGC coins. Maybe they could even include ANACS and ICG while they're at it. Let me know when it's ready and I'll become a charter member.

[wybrit-migration]

Let me just say that the registry here was a bit more interesting because of the scoring concept. Because the NGC registry allowed coins from both major US TPGs, I renewed my membership last year after letting it lapse a few years. I also submitted a few extra coins for certification. In other words, the orginal policy brought some of my business over here.

 

In fact, I was on the verge of renewing my membership and looking to submit even more coins, in light of the recent major price increase levied by the distinguished competition for world coin submissions.

 

Not now.

 

NGC can certainly do what it wants - it is their site. I too can make a choice, and mine is to never submit another coin to NGC nor to renew my membership. Some time soon, I will pull all of my coins off this registry, including all of the NGC pieces.

 

Here's hoping you reverse your decision.

 

- wybrit

 

 

[physics-fan3.14]

Seriously, if anyone is truly in favor of this change, I'd love to hear their point of view. This just seems like a great way to decimate the registry and alienate a lot of otherwise loyal collectors.

 

The only people I've heard in favor of this change is the NGC marketing team. I don't know why, since we are telling them exactly the opposite of what they want to hear.

[brg5658]

Seriously, if anyone is truly in favor of this change, I'd love to hear their point of view. This just seems like a great way to decimate the registry and alienate a lot of otherwise loyal collectors.

 

The only people I've heard in favor of this change is the NGC marketing team. I don't know why, since we are telling them exactly the opposite of what they want to hear.

 

NGC has made their decision loud and clear. Their branding and plastic holder (i.e., money $$$$$$$) are more important than collectors, NGC members, the hobby, numismatics, etc.

 

PCGS has always had that mentality. Now NGC adopts a horribly flawed philosophy. This in no way benefits the hobby.

 

NGC has had so many positives lately, including but not limited to the NGC Coin Explorer and the NGC World Coin Price Guide and partnership with Krause. Now they take a HUGE step backwards based on obviously flawed logic and the assumption that their members are so dense as to not see the dollar signs in their eyes. I don't believe one iota of the listed reasons of this being a "feasibility" issue or that it in some way benefits World collectors. It is backwards and flawed, and NGC still has the chance to remove their foots from their mouths, and STOP this horrible idea from going forward.

[Taler Universe]

It's a real shame. I put much work into my Taler set which now will need to dilute.

 

While this may not kill the grading business of both firms, it will kill the registry concept which was a key marketing engine. I dont think that collectors will forget this move.

[JCM-Houston]

Well I got all twenty something of my sets deleted from the registry.

 

The good news is that 9 new people will now have number one sets in the registry.

 

The bad news is I won't be able to share the images of my sets with people here, everything is still on my webpages however. It was a pleasure having ben able to share here, unfortunately I feel like NGC has taken my money under false pretenses (I renewed in December), and I am willing to pay more money at PCGS now for all my future grading. Of course if I later feel like I get cheated by PCGS that will just mean no more grading at all, I'll let my heirs worry about it.

 

Since I refuse to be a collector of plastic, for some strange reason I still want to collect actual coins, I won't be playing in any of the registry's.

 

British Collection

World Collection

[physics-fan3.14]

Raw coins are still very common in the foreign stuff. I feel like the only real reason to have foreign coins slabbed is to play in the Registry. Take that away, and now I will not be slabbing any more foreign stuff.

 

Good news is, I don't have to put up with the 3 month wait time anymore.

[CoinPictures-migration]

As I mentioned ATS, it's not a surprising move. If PCGS can maintain exclusivity, why shouldn't NGC? It's certainly their right to dictate their own rules.

 

However, that said, I just deleted my 5 registry sets here (3 world and 2 U.S.). All of my sets were mixed NGC and PCGS, and I'm not about to play the crossover game in either direction.

 

The registry game just isn't worth the hassle now. Screw it.

[enc]

MAYBE THE GRADING IN WORLD COINS BY PCGS IS NOT UP TO PAR?

I DONT KNOW ANYTHING ABOUT WORLD COINS,BUT MAYBE THERES MORE TO IT THAN MONEY.

[Spencer Collection]

In my opinion, based on ten years of buying and collecting both NGC and PCGS world coins, I generally prefer PCGS slabbed coins, and I believe in auctions, the PCGS coins generally do better....ie. realize higher prices. Someone should do a price comparison, it would make interesting reading.

[gpnyc]

In my opinion, based on ten years of buying and collecting both NGC and PCGS world coins, I generally prefer PCGS slabbed coins, and I believe in auctions, the PCGS coins generally do better....ie. realize higher prices. Someone should do a price comparison, it would make interesting reading.

 

If this were true then NGC would not get the vast majority of business from word coin dealers. Which they do. Apparently the PCGS Kool Aid is not so prevalent in the dark side.

[Schatzy]

In my opinion, based on ten years of buying and collecting both NGC and PCGS world coins, I generally prefer PCGS slabbed coins, and I believe in auctions, the PCGS coins generally do better....ie. realize higher prices. Someone should do a price comparison, it would make interesting reading.

 

If this were true then NGC would not get the vast majority of business from word coin dealers. Which they do. Apparently the PCGS Kool Aid is not so prevalent in the dark side.

 

But then he says he prefers PCGS because they sell for more!!

[Kenneth F]

So its not about collecting, its about investing.

[noow]

It's about the $ which is a load of B$.

[Spencer Collection]

You guys don't like to be disagreed with, do you.

I feel sorry for your wives, if you are still married.....

Bet you are not.

[Schatzy]

You guys don't like to be disagreed with, do you.

I feel sorry for your wives, if you are still married.....

Bet you are not.

 

 

Happily Married!!

[Kenneth F]

Happily Married as well. Once again, he posts some off the wall insults.. I starting to see a pattern here.

[gpnyc]

Pot... kettle... black.

[Kenneth F]

At who?

[gpnyc]

At who?

 

Sorry.... was aimed at this comment. Obviously he's the one who can't handle being disagreed with....

 

You guys don't like to be disagreed with, do you.

[Lablover]

In my opinion, based on ten years of buying and collecting both NGC and PCGS world coins, I generally prefer PCGS slabbed coins

 

Really?

 

If you visited my home as guest and told me you prefered anothers home, I'd tell you to take a hike!

 

Get the hint?

 

 

[Kenneth F]

At who?

 

Sorry.... was aimed at this comment. Obviously he's the one who can't handle being disagreed with....

 

You guys don't like to be disagreed with, do you.

 

ok, got ya.. tracking now.

[World Colonial]

Raw coins are still very common in the foreign stuff. I feel like the only real reason to have foreign coins slabbed is to play in the Registry. Take that away, and now I will not be slabbing any more foreign stuff.

 

Good news is, I don't have to put up with the 3 month wait time anymore.

 

Like US coins, some world coins are worth grading to authenticate.

 

The other primary reason would be due to the price difference between raw and graded coins. South Africa coins graded by NGC and PCGS in higher grades (mint state mostly) can sell for large premiums to raw coins.

 

Most better world coins generally though are not graded (which can easily be verified by checking the pitifully low census pops for most of them) and even of those that are, for the series I collect, are not included in the registry anyway.

[Oldtrader3]

Kenneth, Do you collect world coins? You surely have a lot to say about other people who are affected and are venting as a result of this decision. I just wondered if it affected you or are you just asserting your opinion into something that you have no interest or stake in? You sure have a lot to say about something that you do not participate in and not much of it is constructive.

[Kenneth F]

Yes, I do collect world coins and currency. Thanks for asking.

[princeofwaldo-migration]

As for the recent announcement that NGC will no longer accept PCGS graded coins in the registry I would just like to say.

 

I think it is the worst idea ever. While I would understand saying that sets need to be 50-75% NGC, pulling all the PCGS coins is just bad news.

 

So PCGS takes all the best ideas that NGC comes up with (edgeview, oversea offices), and NGC in turn steals PCGS's bad idea, doesn't seem like a fair trade for NGC.

 

And guess what NGC, I will not send a single PCGS coin in for crossover, if you think the idea is to take more money from me by forcing all registry sets to be only NGC coins you are sadly mistaken, I simply won't put coins into registry sets any more. And the two submissions I just sent in, they will be my last. The other 14 coins I have waiting for grading will go somewhere else.

Not sure what all the fuss is about, since anyone can still create a custom set using any criteria they want, seems to me the policy change shouldn't make that much difference. Unless, knowing that your set is "better" than everyone else's is important to you. Aside from that, the change isn't that significant. Meanwhile, can't really blame NGC for doing what the competition is already doing. Since the registry system is free anyway, hard for me to understand why anyone would expect NGC to subsidize a system that doesn't drive revenue for them. Might have been interesting if NGC had allowed PCGS coins to be used, but at a discount. Something like a point subtracted from the grade if it was in a PCGS holder to reflect "the more reliable and conservative grade of NGC coins" or something like that.... Which, incidentally, is true with world coins, NGC really is more conservative with the grade they assign.

[TwoKopeiki]

I agree with everything you said, princeofwaldo, except for this:

 

Which, incidentally, is true with world coins, NGC really is more conservative with the grade they assign.

 

This is not the case with spanish colonial 8 Reales series. Perhaps it's different with the series you collect.

[princeofwaldo-migration]

I agree with everything you said, princeofwaldo, except for this:

 

Which, incidentally, is true with world coins, NGC really is more conservative with the grade they assign.

 

This is not the case with spanish colonial 8 Reales series. Perhaps it's different with the series you collect.

To be honest, it's not even so much that they are more conservative, but rather that they are more consistent. Which is problematic under the very best of circumstances with 8 Reale coins (regardless of which service is used) since there is so much variation in the quality of the coin when it was originally struck. Or at least that's my take on it. Most of the coins in my collection were struck in Rome or St. Petersburg, mints with fairly consistent quality at any given point in history.