The PURGE!! posted by jayh749

[CSJournals-migration]

I survived The great PCGS purge, by NGC, of 2012

 

It's been awhile since I have written. BUT, "I"M BACK"!

I was very sad last year when NGC decided to remove all my pcgs coins from my sets. In some ways, insulting. I know it's their right, but I had worked so hard on my sets, especially my number 1 sets. Some coins, PCGS graded, cost me thousands of dollars. I had always looked at the NGC registry as the one proper registry, because a true number 1 set could be created using both top rated companies. I spent hours and years over my sets, statigizing, ( Is that how its spelt? ) as to how to beat out the guys with the PCGS top sets. Then finally, I beat those guys using some of their own coins. Then, bamm, just like that, I was starting again. Mostly. A couple of my #1 sets, Canada PL 25 and 10 cents, stayed up there, but now, my biggest competition was gone. Now for the biggest bug. I have to cross over some really high valued coins to NGC. Not that I mind, but what a hastle, and the fear of them not crossing at least equal. That is my bigest fear. Well, I'm giving it my first shot. I got brave, and submitted my first 5 to crossover. I did place a min. grade, but still, here I sit waiting to see my "babies" pull through. I had almost forgotten about the grading, wait game. I hope I win this lottery.

 

See more journals by jayh749

[coinsbygary]

All the best to you, I recently did a five foreign cross-over and four of those coins went down one grade and one stayed even. For various reasons I decided to take what ever grade I was going to get by selecting "any" on the submission form. Let us know how it works out for you.

Gary

[jayman1970]

Good luck,hopefully things work out for the best!

 

 

 

Jason

[greysoldier]

Welcome Back! I hope that your submissions all "make" the equivelent NGC grade. My latest result with PCGS cross-overs has been very similar to Gary.

I had 1 mint state that crossed at equal and 2 proofs that did not. My previous experience is also tends to confirm that NGC is more conservative than PCGS in grading of foreign. Perhaps yours will be the exception and all come back at one grade higher! Please post your results 'for the rest of us'.

Benny

[Six Mile Rick]

Welcome Back and good luck on that submission. We lost plenty of knowledgeable members when CS pulled the rug on foreign PCGS coins. Hope to hear from you often!!

 

Rick

[physics-fan3.14]

I thought this was a poor decision by NGC, and I refuse to kowtow to them. I am not crossing my foreign coins. That just means that I won't be participating in the foreign registry competition.

[TD Henson]

I've sort of been waiting on the hammer to fall on US coins too, but perhaps it won't happen for another year. I've been contemplating crossing my last few PCGS dimes, but unfortunately I think NGC is also more conservative on Roosevelt dimes too, so I'm afraid I'll lose too much if I do. Perhaps I'll wait at least another year.

 

Welcome back!

 

Todd

[Mr Bo Jingles]

When NGC first announced the purge of PCGS coins from the registry I was upset, but then figured why not have them all graded from the same company so I sent in my coins for crossover.

 

I stated I only wanted them crossed at the same grade and 50% of my PCGS coins came back in their PCGS holders with the description "marks" as the reason for not crossing over the same grade. I simply sold them as the grade PCGS gave them and purchased new ones.

 

I have come to believe through my experience and the experiences shared by other collectors that have gone this route that a fair percentage of PCGS coins are over graded. It is for that reason I won't buy a PCGS graded coin in the future.

 

This is completely my own opinion, but I am much more satisfied and comfortable that my NGC graded coin is a solid grade and I when dealing with higher end coins, I don't need the hassle of worrying about whether or not my coin is going to be looked upon as overvalued by the purchasing public.

 

[RichH]

Good luck on this submission. I can't comment to the strength of NGC vs PCGS on World coins, but from an overall perspective I always use the CDN Index and the % ratio for certified sight unseen to sight seen coins. Right now NGC is at 82.89% vs 82.72 PCGS so I interpret as an overall market "wash" with both holders viewed about the same by the market. So from this basis alone I would not have crossed over . I had great success a few years back on crossing over an ANACS MS64 1857 1C Flying Eagle DDO to NGC and could not have been happier.This was clear cut to me, and the reason it was in an ANACS holder in the 1st place ( my guess) was that back in the early 1990's NGC was not doing variery attribution to the extent ANACS was. I'm rooting that you get a win on this !!!! How does everybody else view the CDN index's to compare market strength of the certified holders?

RichH

[coin928]

Good luck on this submission.

 

Coin collecting is more than just a hobby for me. It's also part of my investment strategy, so crossing over a PCGS coin to NGC at the same or lower grade is really not an option. Even if the coin crosses at the same grade, it's still a net financial loss. It's not just the cost of grading either, PCGS coins still often command a premium over identically graded NGC coins, so it's a double hit with no financial gain. I agree with all of the other respondents that NGC seems to be the more conservative grader, but that fact hasn't yet influenced the market at large.

 

I don't plan to cross any of the PCGS coins that were purged from my sets last year. I may replace them with NGC graded coins as long as I can find one that is equivalent or better than the PCGS coin it is replacing. I've only replaced one so far though.

 

When this purge took place, we were promised a "better experience" in the world coin registry. There is now a connection to world coin values from individual coins in a set, but I can't think of anything else that's changed in the last eleven months. Does anyone think the PCGS purge has contributed to a substantially "better experience?"

 

Good luck to all in the new year!

[physics-fan3.14]

PCGS coins still often command a premium over identically graded NGC coins

 

While that may be true for US coins, it is definitely not true for foreign material.

[mkman123]

I think NGC should have made the rule at least 51% NGC coins and 49 % PCGS. I get tired of hearing the kool aid talk and then those same people have registry sets on NGC with all PCGS coins......how disrespectful!