"Official Grading Service of the PNG"

[James_OldeTowne]

It seems like I remember some hullaballoo about NGC becoming the PNG's official grading service. Was there ever any fallout from this issue, other than a lot of whining and complaining in a full-page spread advertisement in Coin World?

 

James

[gmarguli]

Other than the tantrum thrown by David Hall, none that I can recall. At least none that lasted long enough for anyone to care.

[truthteller]

David Hall's tantrum made me investigate how the PNG endorsement occurs. I assumed that NGC merely pays them for the "honor". However, I came to realize that NGC also allocates to PNG members a number of "free" submissions, based on membership to PNG, as part of the "endorsement package", thereby adding incentive for PNG members to promote NGC. This also was the "package" with PCGS beforehand. Something I had never realized before.

 

 

 

 

TRUTH

[gmarguli]

I came to realize that NGC also allocates to PNG members a number of "free" submissions, based on membership to PNG, as part of the "endorsement package", thereby adding incentive for PNG members to promote NGC. This also was the "package" with PCGS beforehand.

 

PCGS was paying $40K cash per year before. It was the new contract that NGC won that called for gradings and cash. PCGS made the same type offer, but was the underbidder (by design???).