Report that NGC registry is changing its policy for future sets?

[RichH]

Agree that its a reasonable position.

[TonerGuy]

Eventually, a company like Heritage will develop a registry and attract participants from here and ATS.

 

Or someone else... I never understood why this hasnt been done already allowing even ANACS and ICG coins in... they could be weighted differently though. You can also add in some additional points for CAC green and gold beans.

 

And instead of paper certificates real prizes can be given out for top awards and people's choice...

 

I think if we have to stare at ads for coin dealers maybe a they can throw in some gift certificates to the award winners...

 

Maybe free tixs to shows or a complete round trip prize to a show...

 

Just my .02

[joeyuk]

I have no stickered coins but a cac sticker could be a reasonable compromise. That says the coin is solid for the grade regardless of the whose holder it is in. So maybe both NGC and PCGS should allow the others stickered coins.

 

[FranklinHalfAddict]

I don't have a registry set so this won't really affect me. Though I will say I have seen some NGC registry sets that are made up 100% of pcgs coins. I think that is pretty dumb. I don't think requiring all coins to be NGC is the way to go, but rather make it required that at least 50% of coins in NGC registry sets be graded by NGC.

[JeffMTampa]

First and foremost before everyone is calling out the linchmob keep in mind that this policy is for future, lets say that again FUTURE sets.

 

Why does this make it a conciliatory approach? Maybe I do not clearly understand what you mean by saying "Future Sets".

 

If you are saying that it will only pertain to an existing competitive registry set that I create - after - this policy were to go into effect then it would still leave a collector in the position of only being able to search for a coin to fill a slot in their set to NGC, even though there maybe a much better (at the same grade) example available in a PCGS slab.

 

It would essentially force someone to buy the slab instead of possibly the best coin for the money, unless they are willing to routinely pay the fees to cross over a coin. I do not see how this is good at all.

 

 

Baised on what I have read about this (I was not at FUN so I am only making interpertations baised on what has been posted) this change will not affect any of the hundreds (thousands?) of sets that are currently in use. But rather will only pertain to newly defined sets, as an example; whatever the design for qtr's will be after the ATB series finishes would be a new registry and would then be under this new NGC only restriction. But because the Lincoln 1909 - 1958 registry is already availible any new set could be started without requiring NGC only coins.

 

So as I said I really only see this as impacting new designs and/or new speciality coins that would be released by the mint in the future and has no impact on any of the already defined sets in the registry. It would seem that many are thinking that if say next year that you decide to start a Washington qtr set (1932-1964) it would now have to be NGC only, and I am saying that I do not beleive this to be the way it will work. So before everyone breaks out their pitchforks I think it would smart to wait untill a full announcement is made that fully outlines how this new policy will affect the currently defined registry going forward.

 

Overall I prefer the current system where NGC gives awards baised on a combined set score and one baised on NGC coins only. This gives recognition to both. It's also important to keep in mind that it is the NGC registry not the backup PCGS registry, perhaps NGC feels that this move will strenghten their brand in the marketplace.

 

I was at the FUN Luncheon where this was discussed. It was not an "announcement" made by Mark, but rather a response to my question "Does NGC intend to change their policy on only allowing NGC coins in the circulated registry sets?"

 

Mark answered with a flat "no", that the circulated sets will not change to allow PCGS coins, and that any new set type created by NGC would only allow NGC coins. He stated all existing registry sets that allow PCGS coins will remain that way. He also commented that the decision on this matter was made by him alone.

 

I can understand why from a business standpoint. PCGS claims to be superior, and by allowing their coins into the NGC registry they appear to acknowledge it.

[CSdot]

 

I was at the FUN Luncheon where this was discussed. It was not an "announcement" made by Mark, but rather a response to my question "Does NGC intend to change their policy on only allowing NGC coins in the circulated registry sets?"

 

Mark answered with a flat "no", that the circulated sets will not change to allow PCGS coins, and that any new set type created by NGC would only allow NGC coins. He stated all existing registry sets that allow PCGS coins will remain that way. He also commented that the decision on this matter was made by him alone.

 

I can understand why from a business standpoint. PCGS claims to be superior, and by allowing their coins into the NGC registry they appear to acknowledge it.

 

When you asked the question, were you hoping that Mark would confirm (1) that NGC IS changing their policy on only allowing NGC coins in the circulated registry sets, or (2) that NGC IS NOT changing their policy on only allowing NGC coins in the circulated registry sets?

 

In other words, were you disappointed or please by the answer?

[Max Spiegel]

Thanks for all of the feedback. I wanted to clarify Mark's comments at the Collectors Society luncheon. There will be no changes to NGC's current policy to allow both NGC and PCGS coins in US Registry sets. Both existing and future US competitive sets will continue to allow both NGC and PCGS coins.

 

Mark's comments were specific to new NGC Registry concepts, such as the recently released "Circulated Coins Only" category, which accepts NGC coins only.

[Coinbuf]

Thanks for all of the feedback. I wanted to clarify Mark's comments at the Collectors Society luncheon. There will be no changes to NGC's current policy to allow both NGC and PCGS coins in US Registry sets. Both existing and future US competitive sets will continue to allow both NGC and PCGS coins.

 

Mark's comments were specific to new NGC Registry concepts, such as the recently released "Circulated Coins Only" category, which accepts NGC coins only.

 

Thanks for the clarification Max, I figured that this was misunderstood by many posters.

[CSdot]

Agreed. Thanks for the clarification.

[wdrob]

 

Thank you coinbuf, Jeff, and Max for clearing this up for all to understand.

 

I stand by my position that I believe it to be a reasonable decision. I was very surprised to learn that collectors with an all PCGS collection can win any award. Hell I would have never even thought for a moment that some folks would have a 100% PCGS registry set on the NGC registry.

 

I think mkman123's analogy to Burger King and Mc Donalds was spot on.

 

My

 

 

[physics-fan3.14]

Eventually, a company like Heritage will develop a registry and attract participants from here and ATS.

 

Honestly, I think this is a fantastic idea. The idea of an independent registry removes the inherent bias towards one grading company or another. It would benefit the hobby greatly - allowing participants to choose the best coin, not their preferred plastic.

 

I don't think it should be Heritage that does it, however. The best case scenario would be a completely independent (new) company. I would do it, but I'm not programming-savvy enough to build a website like this.

[wdrob]

I will donate a domain name. Only have two that are appropriate though.

 

 

• slabslots.com
  
• numismaticregistry.net
  

 

 

[A.Phillips]

Thanks for all of the feedback. I wanted to clarify Mark's comments at the Collectors Society luncheon. There will be no changes to NGC's current policy to allow both NGC and PCGS coins in US Registry sets. Both existing and future US competitive sets will continue to allow both NGC and PCGS coins.

 

Mark's comments were specific to new NGC Registry concepts, such as the recently released "Circulated Coins Only" category, which accepts NGC coins only.

 

Thank you for the clarification!

[messydesk]

Eventually, a company like Heritage will develop a registry and attract participants from here and ATS.

 

Honestly, I think this is a fantastic idea. The idea of an independent registry removes the inherent bias towards one grading company or another. It would benefit the hobby greatly - allowing participants to choose the best coin, not their preferred plastic.

 

I don't think it should be Heritage that does it, however. The best case scenario would be a completely independent (new) company. I would do it, but I'm not programming-savvy enough to build a website like this.

The Society of Silver Dollar Collectors already has a set registry where members can build competitive VAM sets and keep track of their inventory, including pictures. We gave out awards for some of the best sets in various categories at the FUN show. We did this so that people could participate in online set building without the constraints the TPGs put on permitted varieties.

 

As for another Heritage doing set registries, they already have the means for you to manage your collection. Sharing it and competing against others in an organized fashion wouldn't be far behind.

 

If the market wants an independent set registry, it will happen.