NGC slow to update census posted by walnutto

[CSJournals-migration]

Is it because of major dealers?

 

Anyone else notice that NGC is slow to update the census after any major dealer has had a many submission. I know that NGC had the results before end of day on Friday because the dealer was making many of the coins for sale on Ebay starting around mid-week last week. The census is a very valuable tool for all of us coin collector to know just how many are graded. Seems to me NGC waits to keep the numbers low to please the major dealers. For examaple, If I was interested in a certain coin and the census shows there are only three, I would either see if I could buy one or search for that one to submit myself. The when the census is finally updated weeks later... that coin does not have a low census any longer...wasting my time and money.

 

Anyone else suspect this?

 

See more journals by walnutto

[brg5658]

I agree that they are slow to update the censuses at a very important time in the year. For example, I know that a certain seller has 25 Sacagawea 2012-D NGC MS69 dollars available in his stock, but the census was not yet available until 2 weeks ago. They are being posted for > $500 each on eBay, one at a time...and they are selling. Why? Because people think they will be rare -- and they are NOT!

 

I don't think that "collusion" or "playing favorites" can be proven to be taking place, but knowledge is certainly power -- and early on in the game these top pop coins can sell for crazy money! I see no reason why the populations can't be updated realtime....the coins are in their system once they are shipped back to the submitter. At that time, they could be updated nightly from their database. It's not a complicated information technology (IT) issue ... so the slowness certainly does seem suspect at times.

[SPHansen]

I was thinking the same thing... why isn't the population generated / updated as each coin is entered into the system?

 

I don't tend to see conspiracies everywhere, so I don't believe there is one here. More likely a lack of planning and sloppy implementation of the relational database system being used.... seen that too many times to count.

[Architecht]

 

There is often an intentional delay on modern just-issued coins on census updates. The reason for this is to avoid creating an impression of scarcity in certain grades simply because an insufficient quantity of coins have been graded to establish a good average for how many will ultimately grade 70, 69, etc..

[RWB]

Are we impatient...? So what if it take six months....the only ones "damaged" might be speculators...?

[Architecht]

People who get sold to under the guise of an artificial and temporary rarity could be affected and end up paying too much on the strength of a reference to the population report.