R&I Franklin Add

[Weidel Legacy Collection]

I just received the May issue of Coinage and saw a very interesting add from R&I Coins. The first page of the ad lists proof Franklin half dollars for every year in Cameo Proof 65 - with a different menu for NGC slabbed vs. PCGS slabbed coins. The second page lists MS65 FBL Franklin half dollars for every year and mintmark - once again with a different menu for NGC slabbed vs. PCGS slabbed coins.

 

What caught my eye, and the reason for this post, was the stark difference in 'market' value between the differently slabbed coins. Here are some examples:

 

The entire range of PF65 CAM Frankies in NGC slabs: $4,914

The entire range of PF65 CAM Frankies in PCGS slabs: $8,399

Selected Dates:

1950 - NGC: $2,300 - PCGS: $4,500

1951 - NGC: $950 - PCGS: $1,500

 

The entire range of MS65 FBL Frankies in NGC slabs: $41,565

The entire range of MS65 FBL Frankies in PCGS slabs: $35,075

Selected Dates:

1951-S - NGC: $1,250 - PCGS: $750

1953-S - NGC: $19,000 - PCGS: $15,500

 

Is the grading that much different? I know that NGC is tougher on the FBL designation - does that make PCGS more lenient, and which one is 'right'? Does the name on the slab matter that much?

 

Food for thought and comments.

[Hoot]

Great observations, RWW. Sorry I can't really comment, but I gathered this sort of differential on the FBL Frankies from some earlier posts. I would not expect the non-FBLs to be so skewed the other way around.

 

Hoot

[Dermott]

One would think that the more strict grading company would warrant the better prices, not the opposite.

 

Shame the items don't easily lend themselves to the "buy one of each slab of a certain date/grade and compare" to see which one is actually the better quality and if the pricing is reflecting better quality or the "right letters on the holder".

 

Seeing this among many other things leads me to believe that this is a rather "interesting" time in the coin "business/hobby/realm/market/whathaveyou".

[DonHeath]

RWW,

 

PCGS is believed tougher on the cam designation, and NGC IS tougher on the FBL designation. In that light, the pricing makes perfect sense.

[keithdagen]

One would think that the more strict grading company would warrant the better prices, not the opposite

 

PCGS requires only the lower bell lines be full. NGC requires upper and lower, meaning that NGC designated FBL coins are harder to obtain.

[coinman1794]

To follow up on Keithdagen,

 

Because NGC requires all 7 lines to be full and unobstructed by marks, all NGC FBLS are solid and that means the coins is generally nicely struck. On the other hand, PCGS only requires the bottom rows to be complete (and they will even allow severe breaks because of marks), and so, although it's possible to have all 7 rowes, it is not necessary, so you aren't guaranteed as good a strike. I have seen R&I mention the difference between the two standards in adds, so I know that's why they are asking the premium for NGC FBL's.

[Hoot]

Another reason the strike designations need to be more specific, like the step formulas for Jeff nickels. It improves the information for the collector while in keeping with the desirability of the series for many.

 

Hoot

[gmarguli]

PCGS requires only the lower bell lines be full. NGC requires upper and lower, meaning that NGC designated FBL coins are harder to obtain.

 

I really wish that NGC would promote this. Now with the designation of the FT would be a perfect time to start promoting their stricter standards.

 

I'd be running ads in the coin rags pointing out the differences with pictures. It'd be a great way to hit at the competition. While PCG$ is spending money promoting the FT designation, NGC could capitalize on this by showing how much tougher they are. Let PCG$ spend the money to promote the FT designation to the marketplace, but let NGC spend their money showing why the PCG$ 'standard' is second rate to the true market leader.

[Weidel Legacy Collection]

One of the reasons I started this post is that I got to thinking how confusing R&I's advertisement must be to the new collector.

 

What is my Franklin worth? It appears to be a very nicely struck MS65 coin with full bell lines. There's the gray sheet ask price - now, that ought to be a reasonable guideline. Oh - here's what it goes for if my half is in a PCGS slab with that grade. But wait, here's what it goes for with that grade if NGC has slabbed my half. Is it the name on the slab that's causing the difference or is one service's grade not necessarily the same as another service's grade - within reason.

 

It really is too bad that there isn't ONE set of rules the slabbing companies play by because of the FUD that now results when buying a coin sight unseen.

 

I know - I am an eternal optimist...and am just venting about how things are - it was just the black and white starkness of R&I's price differential that set me off. Indeed, coin collecting is no place for a blind person.

 

[coinman1794]

Well, I don't know how much enjoyment a blind person can get out of coin collecting anyway ?

[BankNote1]

I know about being blind! I can't even see the date on a dime, let alone a FT!!!!

[Weidel Legacy Collection]

Yeah, I have that problem too. My arms just aren't long enough.

[LucyBop]

I DIG THEM FRANKIE THREADS!