Full Torch

[RMontgomery]

Hello All,

 

I wanted to create this post in order to define our standards as to how NGC will be determining the new designation, Full Torch (FT). To keep the designation consistent for collectors of Roosevelt Dimes, we will use the term FT. In addition to being unique to the Roosevelt series, this designation will also distinguish itself from the FB designation currently used for Mercury Dimes.

 

Keep in mind that this designation will go into effect on Monday, April 14. For previously certified Roosevelt Dimes, NGC will inspect those coins under the Designation Review program.

 

With that, please view the following image. Note the upper and lower set of horizontal bands that are required to be split without major interruptions. Notice also the vertical lines on the torch are also defined without major interruptions.

 

For reference purposes, please refer to our press release here- Full Torch Press Release

 

 

[LucyBop]

Be Bop A Lula!!!

[PQSeated]

The NGC standards are already tighter then PCGS on full step nickels. Now FTs. Watch out, PCGS! I'm thinking about sending some of them in to try and get the FS designation.

[Tradedollarnut]

Rick: While I'm not a Roosy collector, it does seem to me that the verticle torch lines in that picture are kindof weak. If they are necessary to be distinct, shouldn't they be stronger or is the picture the absolute minimum required?

[TomB]

Hi Rick. This question might seem obtuse, but, do the vertical bands have to have integrity throughout their length or only between the two major horizontal pairs? Thanks.

[gmarguli]

I didn't realize that the vertical lines also had to be defined. That's going to be tough.

[RMontgomery]

NGC will be looking for the vertical lines to be defined with no major interruptions. The image shows at a minimum what one should expect. The lines are there, but not necessarily grooved to perfection. We will also look for the vertical lines to be defined the length of the torch. During our consultations and study of this designation, we had found that in most cases, as long as the horizontal bands were split, the vertical lines would likewise be defined. Obviously, contact can cause a major disruption on the bands or vertical lines, thus eliminating the coin from being eligible for the designation.

 

Thanks to everyone who has been helpful in defining this designation. Your comments and questions are genuinely appreciated.

 

Rick

[jtryka]

I just got an e-mail from PCGS, and they are offering $5 reviews until the end of April, and a free review for those who have a Roosevelt set in their registry. Will NGC do something similar?

[TomB]

I think a nice touch by NGC would be to give these coins a Designation Review for free. Don't laugh just yet. I write this because people submitted these coins for NGC's professional opinion as to their grade and now NGC has added a designation to that grade that did not exist when these dimes were previously slabbed. Not only will this designation end up likely boosting the value of many of the coins that earn it, but, it will most likely be incorporated into the NGC Registry. Therefore, I don't think it would be a poor idea for NGC to offer to give a free Designation Review for something like one Roosevelt dime for every raw coin submitted by someone. In this way the coins are not being regraded, just being reviewed, and the coins would be shipped back with the newly graded shipment.

 

It might (read: will) add some effort on the part of NGC but it would also earn exceptional goodwill and good PR. Heck, I also think it's the right thing to do. This could be done while recording the certification number for each Roosevelt that undergoes the process so that a record of these coins could be used by NGC for any statistical or research purpose they might desire.

 

Also, I think the addition of this designation is clearly different than the addition of the * designation in that there will, no doubt, be a column for FT coins in price guides in the near future where I doubt that this will occur in the case of * coins as the * attribute is so subjective.

[gmarguli]

While free would be nice, I don't think it is realistic. The cost for both the slabs and graders time would be quite large.

 

However, I see no reason why NGC can't offer some sort of deep discount. Perhaps a 50% off offer ($5) for the first 3/6/? months after the designation is offered.

 

Also might be a good way to get people to register their sets at NGC is they offered free reviews for the current registry set holders and anyone who registers a set within the next 1/3/6/? months that is at least 50% complete and 33% full of NGC coins.

[TomB]

I agree with you Greg, it would not be trivial. However, the collateral benefits to NGC might be huge and you touched upon some of them. Sometimes, I believe that doing the best thing for the client, even if it hurts in the short term, serves to help a good business in the long term.