Dominion Grading question

[DirtyGoldMan]

Not sure that matters, he buys PCGS coins and he is President. I can't imagine that when he submits very very rare gold coins, which he has done and then sold recently, that given the rarity and uniqueness of each specimen, that the graders do not know who submitted them.......

 

Er, ah, why weren't these submitted to NGC instead, just a wonderin'

 

David Hall sells Liberty Collection.....

David Hall has said, on numerous occasions, that neither he nor DHRC submitted coins for grading. They bought and sold PCGS coins on the open market.

[coinman_23885]

Not sure that matters, he buys PCGS coins and he is President. I can't imagine that when he submits very very rare gold coins, which he has done and then sold recently, that given the rarity and uniqueness of each specimen, that the graders do not know who submitted them.......

 

Er, ah, why weren't these submitted to NGC instead, just a wonderin'

 

David Hall sells Liberty Collection.....

David Hall has said, on numerous occasions, that neither he nor DHRC submitted coins for grading. They bought and sold PCGS coins on the open market.

 

And I don't see a problem with this. Also, with regards to Dominion Grading Service, the owners were clear to denote the coins they submitted with a "D" in the serial number so at least there was some transparency. I do not see a problem in either case.

[Hard Times]

Not sure that matters, he buys PCGS coins and he is President. I can't imagine that when he submits very very rare gold coins, which he has done and then sold recently, that given the rarity and uniqueness of each specimen, that the graders do not know who submitted them.......

 

Er, ah, why weren't these submitted to NGC instead, just a wonderin'

 

David Hall sells Liberty Collection.....

David Hall has said, on numerous occasions, that neither he nor DHRC submitted coins for grading. They bought and sold PCGS coins on the open market.

 

These were PCGS-slabbed gold coins from his personal collection, many of which have the highest grades for their date/variety, and he has never cracked them out or resubmitted for attempting a higher grade? I am unaware of too many dealers/collectors that can say that they have never, ever, submitted coins for grading..........

 

Again, even if David Hall never has submitted coins to PCGS, there are serious conflicts of interest. He surely must have inside information on how the graders grade which we who don't work for PCGS don't have, which means he will always have an edge on anyone else when considering PCGS coins. The only way I could see no conflict of interest is if David Hall only sold non-PCGS-slabbed coins. JMHO

 

 

 

[Kurtdog]

All I know is if I were in the business of grading and selling coins I wouldn't give the coins I'm selling any grading preferences because that would be unethical.

[AegisIII]

David Hall has said, on numerous occasions, that neither he nor DHRC submitted coins for grading. They bought and sold PCGS coins on the open market.

 

Hmm...

[dimefreak]

To be completley honest I see no problems what-so-ever with David Hall selling PCGS graded coins. If I owned Nike I sure wouldnt be wearing Reebok clothes. If I owned Ford I wouldnt be driving a Chevorlet. I do however have problems with certain Dealers submitting coins to PCGS. Im talking about employees's of PCGS both Males and Females

 

[lehigh96]

DGS IS a garage grader in terms of quality from what I've seen. The plastic isn't worth anything.

 

DGS was owned by David Lawrence Rare Coins. While selling and grading coins at the same time presents a credibility problem, calling DGS a garage/basement slabber is way off base IMO. I haven't seen too many DGS coins, but I never saw one that I thought was grossly overgraded.

 

PS. I didn't like the holder when PCI used it and I didn't like it any better under DGS.

 

Not trying to start a fire here, but think about what you just said. You have inferred that any big name dealer could start their own grading company and it wouldn't be a garage grader? The reason that PCGS and NGC work is that they don't actively buy and sell their own slabs. When someone is actively buying and selling coins they've assigned grades to, they have to be taken with a grain of salt.

 

IMO, the term garage/basement grader is reserved for people without the actual ability to grade coins.

[PerryHall]

Not every coin is worth the expense and trouble to be submitted to NGC or PCGS. DLRC decided to put their raw coins in a tamper-proof plastic slab rather than a 2X2 cardboard holder. In either case the dealer needs to show a grade for their raw merchandise. Since it's in a tamper-proof slab it's easier to sell a coin back to DLRC. From what I've read their grading was fairly conservative and realistic and if you didn't want the slab, you can always crack it out.

[BillJones]

Id be willing to bet that coin would grade at both NGC and PCGS.

 

I wouldn't put money on it.

 

I agree. I think that neither PCGS nor NGC would grade that coin.

[Kurtdog]

Not every coin is worth the expense and trouble to be submitted to NGC or PCGS. DLRC decided to put their raw coins in a tamper-proof plastic slab rather than a 2X2 cardboard holder. In either case the dealer needs to show a grade for their raw merchandise. Since it's in a tamper-proof slab it's easier to sell a coin back to DLRC. From what I've read their grading was fairly conservative and realistic and if you didn't want the slab, you can always crack it out.

How did dealers show grades for their raw merchandise before the TPGs? They can do it the same way, today. The only reason they may be reluctant to today is they're well-aware they're dealing with an unknowledgeable customer-base that's been influenced to delegate the activity of grading to third and fourth-parties and at the same time rationalize they're engaging in a "hobby." Imagine that, how far we've come...