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Awards and Time Off during the Holidays

Started by Zebo,

15 posts in this topic

Zebo

Zebo

Posted
Posted

This is the time of year that I enjoy because the NGC award annoucements prompt me to take a bit of time and examine all of the wonderful sets out there. It not only increases my interest in the hobby (and history), but it expands my knowledge and skill in picking quality coins.

 

Thank you NGC and thanks to all you collectors.

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physics-fan3.14

physics-fan3.14

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I used to enjoy the Registry awards.

 

In light of recent developments, this year's awards will be bittersweet - they will be the last awards of the open registry. They will be the last where quality coins are valued for what they are. After this year, the Registry is closing and becoming an NGC-only club.

 

The value and importance of the registry has been demolished with a single shortsighted opinion of a misguided leader, and the significance of the Registry will be diminished significantly. I hope Mr. Salzberg issues an apology and reverses his decision, but I strongly doubt that will happen.

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BillJones

BillJones

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I used to enjoy the Registry awards.

 

In light of recent developments, this year's awards will be bittersweet - they will be the last awards of the open registry. They will be the last where quality coins are valued for what they are. After this year, the Registry is closing and becoming an NGC-only club.

 

The value and importance of the registry has been demolished with a single shortsighted opinion of a misguided leader, and the significance of the Registry will be diminished significantly. I hope Mr. Salzberg issues an apology and reverses his decision, but I strongly doubt that will happen.

 

Mr. Salzberg is a very stubborn man who does not listen to those people who have supported and defended his product for many years. The fact that he has not responded to any of the posts about this issue in this forum speaks volumes. He either does not care about our opinions, or he does not have the courage to defend his position.

 

He took this action without consulting any of his stakeholders. His reason for excluding PCGS coins from the registry is bogus. The quality of PCGS grading has nothing to do with it. In truth both services have watered down their standards. I have been extremely disappointed with the lowering of grading standards by both PCGS and NGC over the last couple of years.

 

Mr. Salzberg thinks that he is going to make a lot of money by doing this and that collectors will flock to buy the NGC graded product as a result. In the short run he has made a lot of enemies. In the long run, who knows? Maybe NGC will become the #1 U.S. coin grader, but I doubt it.

 

NGC needs to tighten its grading standards, and it needs to get a good number of over graded and problem coins off the market. Only then will it have a chance to displace PCGS.

 

The "open" NGC registry kept me interested in defending the NGC product. Now the reason for my support is gone.

 

Mr. Salzberg could still get at least some of us back in the tent with a compromise. If he'd like to discuss the issue, I'm willing to listen. But if he continues in the silent mode, I'm done.

 

Smart business people listen to their customers. Stubborn business executives make arbitrary policy changes without getting any feedback from their core supporters.

 

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physics-fan3.14

physics-fan3.14

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I really want to go to the NGC luncheon this year, and see how the crowd responds. It will either be gentle and submissive, and Salzberg will have won, or it will be riotous and angry, and I want to hear his defense. Y'all will have to tell me how it goes.

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coinman_23885

coinman_23885

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I really want to go to the NGC luncheon this year, and see how the crowd responds. It will either be gentle and submissive, and Salzberg will have won, or it will be riotous and angry, and I want to hear his defense. Y'all will have to tell me how it goes.

 

I don't think he is going to try to defend anything. I think the PCGS-CAC only thing has annoyed him, and he was annoyed when people were encouraged to crossover pedigreed coins (e.g. Newman) to PCGS. He was apparently angry enough to purportedly boot a NGC authorized dealer (Legend) for encouraging this cross-over and PCGS only mentality.

 

My guess is that Salzberg is annoyed enough with the PCGS-only Kool Aid mentality, and (over)reacted accordingly. I'm sure he feels justified although he doesn't need a justification. I don't care for his decision, but I don't think he should be compelled to justify/defend anything as it relates to his company.

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BillJones

BillJones

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Some of the people who have not been drinking the PCGS-CAC only Kool Aid are the people he is hurting the most with his decision. As for the luncheon, he'll just ignore the people who bring up controversial questions I've seen him do it before. He also might exclude his critics from the invitation list if he can identify who they are.

 

I'm not sure if I will go or not if I am invited.

 

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coinman_23885

coinman_23885

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Some of the people who have not been drinking the PCGS-CAC only Kool Aid are the people he is hurting the most with his decision.

 

I know, but for whatever it is worth, I think they are collateral damage. I do hope he changes his mind though. If he wants to reward sets, he could add bonuses for sets that reach various percentage thresholds for containing NGC graded coins. He could also add additional points for star designated coins and give extra bonuses for NGC's more stringent strike designations. If grading is truly the issue, then it would seem this should help ameliorate his concerns.

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Zebo

Zebo

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I really want to go to the NGC luncheon this year, and see how the crowd responds. It will either be gentle and submissive, and Salzberg will have won, or it will be riotous and angry, and I want to hear his defense. Y'all will have to tell me how it goes.

 

I don't think he is going to try to defend anything. I think the PCGS-CAC only thing has annoyed him, and he was annoyed when people were encouraged to crossover pedigreed coins (e.g. Newman) to PCGS. He was apparently angry enough to purportedly boot a NGC authorized dealer (Legend) for encouraging this cross-over and PCGS only mentality.

 

My guess is that Salzberg is annoyed enough with the PCGS-only Kool Aid mentality, and (over)reacted accordingly. I'm sure he feels justified although he doesn't need a justification. I don't care for his decision, but I don't think he should be compelled to justify/defend anything as it relates to his company.

 

What is the PCGS - CAC only thing that you refer to in the above post?

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coinman_23885

coinman_23885

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I really want to go to the NGC luncheon this year, and see how the crowd responds. It will either be gentle and submissive, and Salzberg will have won, or it will be riotous and angry, and I want to hear his defense. Y'all will have to tell me how it goes.

 

I don't think he is going to try to defend anything. I think the PCGS-CAC only thing has annoyed him, and he was annoyed when people were encouraged to crossover pedigreed coins (e.g. Newman) to PCGS. He was apparently angry enough to purportedly boot a NGC authorized dealer (Legend) for encouraging this cross-over and PCGS only mentality.

 

My guess is that Salzberg is annoyed enough with the PCGS-only Kool Aid mentality, and (over)reacted accordingly. I'm sure he feels justified although he doesn't need a justification. I don't care for his decision, but I don't think he should be compelled to justify/defend anything as it relates to his company.

 

What is the PCGS - CAC only thing that you refer to in the above post?

 

The tendency of some collectors to only buy or sell PCGS graded coins with CAC stickers, and the tendency of some dealers to over promote PCGS coins (especially those with CAC stickers) over NGC coins. Basically, I think NGC resents the way that some collectors and dealers almost relegate NGC as being inferior to PCGS. For a small but growing segment of collectors, the pecking order is:

 

PCGS w/ CAC > PCGS > NGC w/CAC > NGC, etc.

 

Some dealers (e.g. Legend) encourage PCGS-CAC only collections. If one looks at grading trends as of late, this hierarchy is rubbish although admittedly both services have gone through periods where the standards were very loose.

 

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Afterword

Afterword

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It is hard to believe Mr. Salzberg is doing anything other than what he believes to be best for NGC. I strongly suspect there is much we do not know regarding the circumstances resulting in this decision.

 

Anger and disappointment can lead to one conclusion, when the reality is actually another one altogether.

 

 

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