H.E.L.P.- From the Registry Community posted by Darryl F. Jones

[CSJournals-migration]

Advance grading

 

I religiously, (without purchasing) watch that coin show that airs on TV. What puzzles me is the mint will release the Walking Liberty Half Dollar 2016 Centennial Gold Coin on November 17, 2017. The official mintage will be 70,000 with a household order limit of 3. I realize that these large companies cosign multiple people to order coins for them which accounts for them having so many coins immediately upon the release.

 

My problem is how can this dealer air on November 13 that they will have 178 First Day of Issue (FDOI) coins in 70 Grade before the coins are released to the public. Many dealers pre offer graded coins before they receive them I understand that.

 

Question -- How does this dealer know in advance that they will have 178 coins in 70 grade? What does this say about grading if you can guarantee a grade before the coin is released.

 

I know NGC and PCGS will label coins First Day of Issue based on the date received but I don't think either one of them will guarantee how many will be 70 grade.

 

See more journals by Darryl F. Jones

[Conder101]

By looking at what percentage of the gold dimes and quarters graded as 70 they can get a pretty good feel for how many will grade 70 if they submit X number of coins.

[numisport]

It is also possible that many if not most of these would grade MS 70. Keep in mind that they don't have to be perfect to get that grade. Most 2015 and 2016 Silver Eagles I've seen would go 70 if they didn't have too much roll friction.

[brg5658]

I presume you mean November 17, 2016.

[RWB]

Statistical analysis.

 

"...companies cosign multiple..." Do you mean "assign"?

[namvette68]

If there is onsite grading for FDOI slabs, I would assume anyone can buy them, and in any amount.

It's a shame that dealers control the hobby, and the Registry sets.

[jackson64]

Now that the grammar cops are done--your question is valid. How do TV sellers and large dealers continue to skirt the intent of the government mint rules so blatantly?

The dealers arranging to have groups of different people or employees with varying accounts all get their limit and then adding them to the larger corporate/company sales inventory seems to be the most likely answer. It would not surprise me however, if their are some "exemptions" given by the mint. The coin industry is rife with special colluding between entities--whether it is auction house special arrangements with TPG services, TPG's giving different prices to larger submitters ( the old "you rub my back, I'll rub yours" or if it is something more nefarious like cronyism--it is what it is.

[JoeF]

if people wouldn't buy from TV sellers and dealers then they would be out of business. just sayin'.