Got my seated dime back from NGC

[RGT]

I posted about this coin back in February.

 

Seated Dime post

 

I dropped it off at the dealer in late February to send to NGC. I finally got it back today, only three months later. I admit, it probably spent a week with the dealer on either end.

 

NGC decided that the coin was improperly cleaned. There were a couple who thought the coin had been bleached but most thought it was acceptable. The dealer said he had seen plenty that looked just like that in NGC holders. He was also chatting with another wholesale dealer who had stopped at the shop to pick up several shipments from NGC that he had sent in. He had some others that NGC bagged for no apparent reason. They also commented about the grades getting tighter and they weren't going to send in any more common stuff for a while.

 

I don't send in many coins but my last one was the A&R seated quarter that I got burned on and now this. I'm sure NGC won't miss my submissions but I won't be sending in anything for quite a while. NGC seems to want to grade like PCGS now but doesn't get the premium that PCGS coins get. I guess now you can get the worst of both worlds, undergraded and low sales price.

 

I've picked up some good deals in ANACS slabs lately. I think I'll start looking at them more seriously.

[Hoot]

"NGC seems to want to grade like PCGS now"

 

This would truly be a shame. Increased unpredictability coupled with arbitrary tightening and loosening of grading standards has never done much for me or the hobby. But NGC does seem to have followed PCGS a bit on the current "we gotta lower the scale" trend. Simply not good for consistency in the hobby. I reckon we'll live through it. Still, I don't think that NGC shows the extraordinary lack of predictability that PCGS does. Just my opinion.

 

Hoot

[toyonakataro]

Too bad about your submission result.....I feel your pain.

I can't judge if NGC has tightened up their standard, though.

[cpm9ball]

"NGC seems to want to grade like PCGS now"

 

This would truly be a shame. Increased unpredictability coupled with arbitrary tightening and loosening of grading standards has never done much for me or the hobby. But NGC does seem to have followed PCGS a bit on the current "we gotta lower the scale" trend. Simply not good for consistency in the hobby. I reckon we'll live through it. Still, I don't think that NGC shows the extraordinary lack of predictability that PCGS does. Just my opinion.

 

Hoot

 

In my opinion, NGC should ignore the rantings of the blowhard across the street, resist the temptation of trying to keep up with the Joneses, and stick to their ethical standards and consistency. NGC built their reputation on this, and it is what has earned them the respect of the coin-collecting community.

 

Chris

[rexcat]

RGT,

 

Last month I received back 4 BBs out of five submissions for the same reasons, I had a feeling about one of them when I sent it, but two of the others really have my head shaking. One of the coins is a Bust Half Cent I bought at a show this spring, the dealer was so sure that it would slab in a NGC holder he said that he would buy it back if not. (I have known this dealer for over ten years so I don’t think there will be a problem when I see him at the Mid America show later this month.) And other dealers that I know and who looked at the half cent saw no problem it. All though these are all coins that I bought years ago, knowing less about coins and slabbing coins, some finger crossing was in order, but four out of five….

 

When I saw my grades posted I felt like a real insufficiently_thoughtful_person, I had to remind myself that this wasn’t the first time I ever submitted coins. I’ve submitted about two dozen coins to PGCS over the last five years with one coming back in a bag.

 

So I think I know how you’re feeling. I have a few other coins that I wanted to get into my type set but now I’m going to wait. I would like my entire type set slabbed and I’m thinking of selling off the raw pieces that I have left and replacing them with coins that are already in slabs rather than paying grading fees and being no farther at completing my goal.

[RGT]

Certainly my last two coins are not enough to say that NGC has gone too far to the conservative side. But that and all the other reports I hear and read lead me to believe they have. I saw those two dealers open up boxes of dozens of coins including rolls of BTW and Washington Carver commems, franklin halves WL halves and Morgans. Sure there were a few higher grades but many were MS64 that I know they weren't expecting.

 

I have always felt that NGC was the most consistent of the respectable grading services. PCGS seems to get the better prices but they go through so many tight-loose cycles that you never know what you are going to get in one of their holders. I think many have shifted to using NGC lately due to the recent tightning at PCGS (hence the longer submission times at NGC and shorter times at PCGS) but now that NGC seems to be going the way of PCGS they are going to loose some of that business.

 

I feel the same way as you, rexcat. I've had the coin a few years and just wanted to get the coin into a slab for my type set. I may start looking for a slabbed one and then just sell off this one raw. Maybe I can find a nice undergraded replacement that someone else got screwed on.

 

NGC was kind enough to put a sticker on it letting me know that NCS could slab it for me. Thanks, but no thanks.

[AlixTCat]

That is really sad. I hope the coins I am going to submit in a few weeks don't get BB'd as well. I bought them from reputable dealer, ANA member and all. He purports that one will be a MS65 and the other MS64. He didn't offer to take them back if they are not though. (What dealer would?) I guess you always take a chance when you buy raw coins. I feel your pain. I hope that NGC is NOT getting too much tighter. But I guess they want to keep up with PCGS?

 

Good luck with your next submission.

[HaydenTubbs]

I feel your pain,I just got burned by NGC last week on an earlybird submission.I had sent in some toned MS seated and bust type that I was hoping to get stars on.Imagine my suprise when they all came back in BBs for "improper cleaning" .I don't think I'll be sending anything into NGC for a while after this experience.Maybe I ought to take out a $100 million loan and start my own action house,then I no that I'd be able to get the grades I want.Hey I could even get PCGS's $9 submission rate

At least in my case,I had showed them around to several dealer friends in my area who commented on the beautiful toning and originality so I may be able to break even.Although I'm still ticked at losing several hundred in exchange for a few plastic flips

-Hayden

PS I'd be willing to send pics and more info for those interested.