NGCX? Where are the coins? 1 1

[VKurtB]

On 12/19/2023 at 9:22 AM, zadok said:

...if so, the question will be..."will NGCX coins bring a premium in years to come?"....

They’ll quickly end up in 70 point scale holders. But… there are presently NO coins in NGCX holders that I care about, and yes, that includes Morgan and Peace dollars. 

[Henri Charriere]

On 12/19/2023 at 11:42 AM, VKurtB said:

They’ll quickly end up in 70 point scale holders. But… there are presently NO coins in NGCX holders that I care about, and yes, that includes Morgan and Peace dollars. 

I suspect the various collectibles adapt well to the scale -- Ancients appear to do well with dual 5-point scales -- but coins have managed just fine with 70, not all increments of which are used.

[bstrauss3]

On 12/17/2023 at 2:19 PM, VKurtB said:

Me neither, but if I ever found an NGCX holdered coin that I wanted (a lonnnnnnng shot, but possible) I wouldn’t hesitate to buy it, because I intuitively understand the equivalent grades. I might want to get the slab autographed by a clueless MBA from a private equity firm, though. 

Where are you going to find one of those :-)

[VKurtB]

On 12/22/2023 at 12:52 PM, bstrauss3 said:

Where are you going to find one of those :-)

Perhaps a “suit” at the NGC booth?

[bstrauss3]

On 12/23/2023 at 10:34 AM, VKurtB said:

Perhaps a “suit” at the NGC booth?

Point: Kurt

 

 

BUT I'm pretty sure that type doesn't do something so mundane as hanging around at the "factory" as it were.

[VKurtB]

On 12/30/2023 at 7:35 AM, bstrauss3 said:

Point: Kurt

 

 

BUT I'm pretty sure that type doesn't do something so mundane as hanging around at the "factory" as it were.

Normally, you’re right. But there are exceptions. January F.U.N. is the “home court” show that opens the year, and the August ANA tends to bring the “suits”. I’ve been making their show badges there for years. 

[Revenant]

Ultimately, if serves any purpose, I suspect the NGCX scale is only going to serve to create market confusion among casuals and newbies and I don't think it will bring new people in.

I honestly wonder if this hobby really has any legs left because most people my age and younger aren't into it and all I ever seem to see is people saying, "My grandpa died and gave me this. How much is it worth" (while looking to cash out on it probably.)

We need to bring in a newer generation, and I respect the attempt, but I don't think this is the way to do it.

[GoldFinger1969]

On 1/4/2024 at 7:02 PM, Revenant said:

We need to bring in a newer generation, and I respect the attempt, but I don't think this is the way to do it.

I thought about this while thinking about the cesspool that Harvard has become.  If we went back to talking about this country's great history....and maybe focused on the minutae, like the coins and currency....you stimulate interest and learn about America, too.

There is so much information contained in the history of our coinage and currency it's unreal.  Even me, a guy interested in finance and economics, had to stumble upon it by acccident.

Edited January 5 by GoldFinger1969

[Sandon]

  I finally saw a single coin in an NGCX holder at a local coin show last Sunday. It was a common date Morgan dollar (1887, I think) graded "9.3", which corresponds to MS 63, on the table of a young dealer with a limited inventory.  What is the point of this?

[Henri Charriere]

I would guess the point is doing something that, with the exception of the liquor industry, will enable a generation of [younger] collectors to acclimate themselves to a new scale in the whole panoply of collectibles they are already somewhat familiar with.

The reason why conversion to the metric scale failed in the United States, in my opinion, is they went about it the wrong way.  To introduce any new system, like metrics, and in liquids particularly, you emphasize liters and millileters and put gallons, quarts, and pints in parentheses.  Only the liquor industry, to their credit, succeeded in this regard.

NGCX chose to skip the equivalence factor.  A great many collectibles use different scales.  Ancients reduced their grades to a dual five-point scale. Paper currency, if I am not mistaken, uses acronyms like EPQ (Exceptional Paper Quality) and numerical grades spaced five-points apart.  This effort will open the collectible-loving public to a hobby they may not be acquainted with, with a condensed scale.  The market they have in mind is comprised of younger folks -- the wave of the future, and saviors of the hobby.  Coins graded abroad using their own grading standards, will remain unaffected.  I suspect the majority of coins already graded in the U.S. will remain in their holders.  The best way to regard this is as a trial run. Like using horse-drawn buggies and transitioning to horseless carriages. Either it will take, or it won't.

There is no other logical reason I can think of to fix, what isn't broken.  

[Henri Charriere]

Only time, and a traditionally fickle market, younger or older, will determine whether this initiative, still in its infancy, has produced a Ford Mustang -- or a Ford Edsel.

Viewer Discretion Is Advised...

A vulgar street expression commonly heard in marginal neighborhoods, is applicable here:  "Good dope sells itself." You do not have to push it. A notably seedy cohort actively seeks it out.

I don't sense that with X.  No buzz. No chatter. No sustained publicity. A paucity in promotion for a brand-new product.  Was this by design or neglect?  Time will tell.

[VKurtB]

On 2/10/2024 at 4:35 AM, Henri Charriere said:

Only time, and a traditionally fickle market, younger or older, will determine whether this initiative, still in its infancy, has produced a Ford Mustang -- or a Ford Edsel.

Viewer Discretion Is Advised...

A vulgar street expression commonly heard in marginal neighborhoods, is applicable here:  "Good dope sells itself." You do not have to push it. A notably seedy cohort actively seeks it out.

I don't sense that with X.  No buzz. No chatter. No sustained publicity. A paucity in promotion for a brand-new product.  Was this by design or neglect?  Time will tell.

I’m going to suggest that the suits who own NGC have stumbled into the realization that NGCX was a dreadful error and are now seeking to extricate themselves from one of the most horrific errors in the history of numismatics, with the minimum possible amount of egg on their ignorant little faces. When you find yourself in a hole, the first thing is to stop digging. 

Edited February 10 by VKurtB

[numisport]

On 10/1/2023 at 9:05 PM, RWB said:

Thank you. So that's really 100 points vs 70 points, omitting the +  -  *  !!!!!!!! and LQQK stuff. The definitions are all guesses, with almost no empirical content.

Holy smokes looks like well struck coins start at 64. Now were gonna have to redefine WELL struck for all the thousands of Morgan and Peace dollars already graded in the past 35 years.......

Oh wait they wont cross ? Boy gemmy Buffalos are gonna look funny in 62 holders ! Sorry 9.2 holders ?

[Henri Charriere]

Who's to say how this ambitious effort will progress.  I have an idea what N G C stands for.  Maybe the X stands for Xperimental.  And if the initiative does not pan out as expected, maybe those holders will attain an exalted status amongst collectors of uncommon holders:  "Behold, my friends... a genuine, Generation X holder! The rarest and most sought after series of limited holders of all time!"  (Drum roll)  "An even one thousand, from the gentleman in the grey flannel suit.  Do I hear eleven hundred?..."   

 

[GoldFinger1969]

On 2/10/2024 at 5:13 PM, VKurtB said:

I’m going to suggest that the suits who own NGC have stumbled into the realization that NGCX was a dreadful error and are now seeking to extricate themselves from one of the most horrific errors in the history of numismatics, with the minimum possible amount of egg on their ignorant little faces. When you find yourself in a hole, the first thing is to stop digging. 

It might not be a markteting success, but I don't think it's "one of the most horrific errors in the history of numismatics."   Not by a longshot. 

Didn't NGC have a Green Label program for some other submissions a few years ago ?

[Henri Charriere]

On 3/28/2024 at 9:52 PM, GoldFinger1969 said:

It might not be a markteting success, but I don't think it's "one of the most horrific errors in the history of numismatics."   Not by a longshot. 

Didn't NGC have a Green Label program for some other submissions a few years ago ?

It is not a debacle by any means.  Incrementalization, I feel, was a mistake and the fact that TPG hasn't caught on in Europe decades after its introduction, is telling. The 10-point scale appeals to my esthetic sense, but how I feel is not important.  It's the up-and-coming generation and certifications of other collectibles that use the scale, that really matters. I am guessing this is being marketed with those younger collectors in mind. It will have no effect on dinosaurs like me. Everything that is already certified will remain entombed in their respective sarcophagi.