NGCX 1 1

[VKurtB]

This was inevitable when a private equity firm took over. Too many MBA’s walking around with too little to keep them occupied. 
 

[Fenntucky Mike]

On 11/17/2022 at 11:35 AM, EagleRJO said:

For a while I assume they will just mark labels with both grading systems, or maybe that will just be an option.

NGCX and the 10 point grading scale look like they are going to be completely separate things from NGC and Sheldon for now. Possibly for the foreseeable future/forever. As Kurt said, this seems more targeted towards AE and bullion collectors, those who just want to dabble, and card/comic collectors, I doubt it will have much impact on collectors of classic coinage or people who like the way the system is now. I think everyone will be able to continue to collect and have coins graded as they have been traditionally, if they want, that's not going anywhere from what I've seen. 

[USAuPzlBxBob]

Doesn't matter to me, since my entire collection is already NGC graded and NGC encapsulated.

But it does seem to be somewhat inopportune for NGC to be rolling out this "X" logo right on the heels of another "X" headline… a complete failure "X" headline.

[EagleRJO]

Wow, you guys are fast. I realized "assuming" wasn't really the right way to put it as soon as I posted that, so changed it to a "maybe" immediately ... too late, already quoted in stone. 😜 

If it will just be a separate companion system more used for say bullion coins, without a push to switch to that, then really no big deal.

[Except maybe they will grade VKurtB's coins with the new system just to torture him, and charge extra to also add the 70 basis grade. That should go over well. ]

Edited November 17, 2022 by EagleRJO

[VKurtB]

On 11/17/2022 at 11:15 AM, EagleRJO said:

Wow, you guys are fast. I realized "assuming" wasn't really the right way to put it as soon as I posted that, so changed it to a "maybe" immediately ... too late, already quoted in stone. 😜 

If it will just be a separate companion system more used for say bullion coins, without a push to switch to that, then really no big deal.

[Except maybe they will grade VKurtB's coins with the new system just to torture him, and charge extra to also add the 70 basis grade. That should go over well. ]

There’s exactly ONE aspect of this new NGCX thingy that interests me - those new shorter red NGC slab boxes. Very attractive. 

[Redline68]

I can see how this might be popular with the younger crowd collecting modern superhero and other comic book or novelty foreign coins.  It doesn't impact me and what I collect so I'll just be watching the show from the sidelines.

Maybe we'll soon see NGC sponsoring the X Games.

[gmarguli]

On 11/17/2022 at 8:24 AM, Fenntucky Mike said:

It looks like CCG is putting together "packs" of coins to be sold starting in Jan 2023. I can't wait for the NGCX board game to come out, and then the TV series. 

I'm really at a loss for words on this. They're basically promoting gambling while harming their reputation as an independent entity. 

This is what happens when your company gets bought out by a Wall Street firm that can crunch numbers, but hasn't a clue about the actual business. 

[Redline68]

On 11/17/2022 at 11:24 AM, Fenntucky Mike said:

It looks like CCG is putting together "packs" of coins to be sold starting in Jan 2023. I can't wait for the NGCX board game to come out, and then the TV series. 

I guess I didn't fully understand.  They'll be selling boxes of random slabbed coins like baseball cards?  I can't imagine the price or how new collectors will sell their "doubles".

I bought my baseball cards at .25 a pack and that came with a stick of bubblegum.  Is there a slot for gum?

[GoldFinger1969]

On 11/17/2022 at 12:02 PM, Fenntucky Mike said:

NGCX and the 10 point grading scale look like they are going to be completely separate things from NGC and Sheldon for now. Possibly for the foreseeable future/forever. As Kurt said, this seems more targeted towards AE and bullion collectors, those who just want to dabble, and card/comic collectors, I doubt it will have much impact on collectors of classic coinage or people who like the way the system is now. I think everyone will be able to continue to collect and have coins graded as they have been traditionally, if they want, that's not going anywhere from what I've seen. 

It's a marketing thing.  If it grabs some people into our neck of the woods, good !!  

If 300,000 people buy these NGCX lottery tickets....and 10,000 become full-time collectors....and 3-5 become regular posters here at the NGC Forums....not bad, IMO.

[GoldFinger1969]

On 11/17/2022 at 1:05 PM, gmarguli said:

This is what happens when your company gets bought out by a Wall Street firm that can crunch numbers, but hasn't a clue about the actual business. 

I thought CU/PCGS got bought out by private equity.  Did NGC change ownership recently ?

[EagleRJO]

On 11/17/2022 at 11:24 AM, Fenntucky Mike said:

It looks like CCG is putting together "packs" of coins to be sold starting in Jan 2023. I can't wait for the NGCX board game to come out, and then the TV series. 

Randomized coin packs?  That sounds like a really horrible idea! Plus those slabs remind me of the really ugly original SS Republic shipwrecked coin holders.

Except the board game part sounds cool. 😜 

Edited November 18, 2022 by EagleRJO

[gmarguli]

On 11/17/2022 at 10:35 AM, GoldFinger1969 said:

I thought CU/PCGS got bought out by private equity.  Did NGC change ownership recently ?

Yes, CCG was purchased by Blackstone. 

[GoldFinger1969]

On 11/17/2022 at 1:49 PM, gmarguli said:

Yes, CCG was purchased by Blackstone. 

I'm surprised.....BX has hundreds of billions in assets, mostly alternative assets.  CCG/NGC isn't going to move the needle for them.

I wonder if this was a to-be-regretted NFT move.

[GoldFinger1969]

On 11/17/2022 at 1:44 PM, EagleRJO said:

Randomized coins?  That sounds like a really horrible idea! Plus those slabs remind me of the really ugly original SS Republic shipwrecked coin holders.  Except the board game part sounds cool.

I like this !!  Now I can get that 1933 Saint, UHR, and High Relief I always wanted.

Can add it to that Decoder Ring I finally got in 1973 after buying 300 boxes of Cap'N Crunch (w/ Crunch Berries ).

[GoldFinger1969]

You know, I've never seen that SS Republic label from NGC (or one from PCGS, either).  Maybe it was featured in forums in the early-2000's but I wasn't on them or reading them at that time.  Ditto any SSCA labels.

Looks pretty good....I like blue and has a picture of the ship.  Wonder if SSCA had a special one.

 

[VKurtB]

On 11/17/2022 at 12:34 PM, GoldFinger1969 said:

It's a marketing thing.  If it grabs some people into our neck of the woods, good !!  

If 300,000 people buy these NGCX lottery tickets....and 10,000 become full-time collectors....and 3-5 become regular posters here at the NGC Forums....not bad, IMO.

Oh goodie, goodie!!! [sarcasm] More ignoramuses for us to re-educate after their miseducation by NGCX participation. 

[Fenntucky Mike]

On 11/17/2022 at 1:34 PM, GoldFinger1969 said:

It's a marketing thing.  If it grabs some people into our neck of the woods, good !!  

If 300,000 people buy these NGCX lottery tickets....and 10,000 become full-time collectors....and 3-5 become regular posters here at the NGC Forums....not bad, IMO.

Bringing new people in is not a bad thing but I doubt many will cross over into more traditional collecting, 3% sounds about right. 

This could turn out to be a good business decision for BX, short term money maker then flip CCG. 

[GoldFinger1969]

On 11/17/2022 at 2:03 PM, VKurtB said:

Oh goodie, goodie!!! [sarcasm] More ignoramuses for us to re-educate after their miseducation by NGCX participation. 

They could be up-to-speed pretty soon.  I knew nothing of this hobby for the most part but was drawn in by the 2009 UHR Saint.

[GoldFinger1969]

On 11/17/2022 at 2:03 PM, Fenntucky Mike said:

This could turn out to be a good business decision for BX, short term money maker then flip CCG. 

But I don't think it moves the needle for them.  I think CU/PCGS was bought for about $750 MM and the buyers were much smaller than BX.  

OTOH....it clearly is in the realm of "alternative assets" so in that sense it is up their ally and there aren't many TPGs to purchase.

[VKurtB]

On 11/17/2022 at 1:11 PM, GoldFinger1969 said:

They could be up-to-speed pretty soon.  I knew nothing of this hobby for the most part but was drawn in by the 2009 UHR Saint.

Really? That was the thing, huh? Okay. Not terribly typical though. You are quite the unicorn. 

[GoldFinger1969]

On 11/17/2022 at 2:29 PM, VKurtB said:

Really? That was the thing, huh? Okay. Not terribly typical though. You are quite the unicorn. 

It's funny...when I had the $$$ to pursue this hobby, I didn't have the time....when I had the time, I didn't have the $$$ !! 

[VKurtB]

On 11/17/2022 at 1:32 PM, GoldFinger1969 said:

It's funny...when I had the $$$ to pursue this hobby, I didn't have the time....when I had the time, I didn't have the $$$ !! 

An age old story. I still wouldn’t have the $$$ to do this hobby “right”, nor have I ever. What I lack in funds, I make up for MOSTLY in study and staying involved. That, and heapin’ handfuls of sheer orneriness. That’s what got me through my health crises, too. I don’t ever give up or give in. I fight like a wounded animal. 

[zadok]

...so both pcgs n ngc were purchased by consortiums/corporations, so cacg will be privately owned...wonder which will be able to swivel the fastest to accommodate an ever changing hobby?....

[VKurtB]

On 11/17/2022 at 1:37 PM, zadok said:

...so both pcgs n ngc were purchased by consortiums/corporations, so cacg will be privately owned...wonder which will be able to swivel the fastest to accommodate an ever changing hobby?....

Excuse me. AFK. My cat just CACked on the rug. 

[GoldFinger1969]

On 11/17/2022 at 2:29 PM, VKurtB said:

Really? That was the thing, huh? Okay. Not terribly typical though. You are quite the unicorn. 

A few of my investment contacts and circle bought the 2009 UHR direct from the Mint....their posts were on our emails and forum posts....I checked it out....led me to learning about the Original Saint-Gaudens Saints and UHR/HR's.

[GoldFinger1969]

On 11/17/2022 at 2:37 PM, VKurtB said:

What I lack in funds, I make up for MOSTLY in study and staying involved. 

Ditto.....it'd be great to buy more stuff regularly, but reading up about it...keeping notes and files (i.e., Hoards, Highest Prices and Coin Descriptions, etc.) is somewhat satisfying.

[gmarguli]

On 11/17/2022 at 11:13 AM, GoldFinger1969 said:

But I don't think it moves the needle for them.  I think CU/PCGS was bought for about $750 MM and the buyers were much smaller than BX.  

And they did second round financing a little while later valuing the company at $5+ billion.

[VKurtB]

On 11/17/2022 at 1:40 PM, GoldFinger1969 said:

A few of my investment contacts and circle bought the 2009 UHR direct from the Mint....their posts were on our emails and forum posts....I checked it out....led me to learning about the Original Saint-Gaudens Saints and UHR/HR's.

Well, congratulations on that. You’re a United States Mint Numismatic Division success story. That was the idea behind doing the 09 UHR. “So YOU’RE the one?” /kidding

[Henri Charriere]

On 11/17/2022 at 2:11 PM, GoldFinger1969 said:

They could be up-to-speed pretty soon.  I knew nothing of this hobby for the most part but was drawn in by the 2009 UHR Saint.

The 2009 UHR caught my eye... until I considered the specs and quickly realized due to the design enhancement it would differ from the traditional Saint.

[Henri Charriere]

Re NGCX... no one aged 65 or older need be concerned. This is something the younger generations coming up are going to have to wrestle with.  Besides, the older ladies and gents in this hobby hold all the cards.  Change, as always, comes slowly.