It's official. ANACS no longer net grades.

[GoYankees]

http://forums.collectors.com/messageview.cfm?catid=26&threadid=434829

Boooo! Hisss!!!

[jtryka]

Wow! I blame NCS for this!!!

[midwest]

As long as they are descriptive it shall be fine. Now if they would just change those dinky holders

 

However I do think it is a tad early for some to allready say ANACS is going to go out of business. If this causes them to go under than good. If net grading was the only thing keeping them alive then something was wrong. Just like if NGG or PCGS went out due to lack of bulk submitters or modern coins.

[Hoot]

There's no way that a lack of net grading will be responsible for ANACS to go under. Their grading is still of superior quality, placing them in the "top three" grading services. Despite their recent changes and losses, they are still fully involved in top-tier attribution and attribute all U.S. coin series more diversely than any other service.

 

Net grading is an art, just as is grading in general, and I've heard many compliments and complaints about it over the years. How many grade levels should be deducted for a particular problem? ANACS has created their own definitions of this, to a large degree, and now it will be up to collectors to be savvy enough with the coins they collect to do this for themselves. Ultimately, this may impact market pricing, as it will add a bit of chaos to the system, but the factors that cause people to spend their money will still be firmly at work and the "net grade" will be expressed for any given problem coin at the time of purchase.

 

I truly think that the reason this scares/disturbs most people is that they have to assume the onus of responsibility for net grading for themselves. This is just not what most collectors are used to. Only the old-timers and a few well educated collectors of modern day are used to doing this.

 

As for ANACS, they will survive and likely continue to thrive with their new policy. Coins that they denote with problems will float right alongside NCS graded coins and the market will take care of the rest.

 

Hoot

[GoYankees]

I can live without the net grading as long as they don't change the size of their slabs.

[BankNote1]

I never cared for the ANACS "net" grading. I do like the size of the ANCS holder. I also like the clear plastic. I wish the other services holders were the same size as ANACS...

[midwest]

As for ANACS, they will survive and likely continue to thrive with their new policy. Coins that they denote with problems will float right alongside NCS graded coins and the market will take care of the rest.

 

Hoot

 

Where is the darn I agree emoticon when you need it

 

That sounds just about right and with new changes they will probably do better! It seems to me the people calling the demise are the same people who complain about USPS rate increases. So of course they go to UPS only to crawl back to the USPS once they find out how good the USPS is. ANACS is really the only way to go for problem coins except for NCS. Of course it seems ANACS has most of the problem coin market. Of course it will be quite nice to see the new holder. It will probably be big with no other option. Of course that will be good for small slab lovers because any they own will automatically become " small size ANACS conservative grading 3 point upgrade canidate!!!!!"

[jom]

I truly think that the reason this scares/disturbs most people is that they have to assume the onus of responsibility for net grading for themselves.

 

 

God forbid that the market decide what a coin is worth. Frankly, I think there really only should be 4 or 6 MS grades and let all the "in-between" grades and designation-type coins (FB, FBL etc etc) get priced in the market. Wouldn't that be interesting....?

 

jom

[James_OldeTowne]

I agree that the ultimate "net-grade" rests with the wise buyer. But I personally like ANACS "net-grades". Not only are you alerted of an existing problem, but the overall net grade gives some indication of it's serverity.

 

For example, a large-cent net-grade of "AU details, corroded, net XF-45" indicates a coin with minor porosity, or mildly troubled surfaces. But "AU details, corroded, net VF-20" indicates a "slice of pepperoni", as I used to say.

 

On the other hand, I know there's a widespread misconception that ANACS net-grades are covered under their grading guarantee - they aren't. Perhaps there's a liability issue there that ANACS wants to get away from?

 

Maybe there will be an option on whether to receive a net-grade or not?

 

James

[IGWT]

On the other hand, I know there's a widespread misconception that ANACS net-grades are covered under their grading guarantee - they aren't. Perhaps there's a liability issue there that ANACS wants to get away from?

 

After reading James's post, I went to the ANACS website to read the guarantee and found the following exclusion:

 

"This Guarantee shall apply only to gold and silver coins and shall not apply to the following: any coin submitted for re-examination in a damaged, unsealed, or altered coin holder; clerical error as to the description or grade of the coin which would be readily noticed on inspection; and "problem coins" that carry a "detail" grade and a "net" grade as these are guaranteed for authenticity only."

 

Here's a link to the webpage: ANACS Guarantee. I'm very surprised to see that the guarantee applies only to gold and silver coins. I read the exception to mean that copper and base metal alloys fall outside the guarantee altogether -- no assurance of either authenticity or grade. Am I the only numbskull who didn't realize this? Now, of course, I'm afraid to read other TPG "guarantees."

[jtryka]

Didn't NGC change their guarantee on copper coins a year or two ago? I thought there used to be not guarantee, but now they guarantee them for a certain time limit, but not like the silver or gold coins. I haven't looked at it in a while though.

[gmarguli]

NGC guarantees the copper for 10 years from the date of slabbing for all newly slabbed coins.

[Bruceswar]

just got a batch back from ANACS.. and one of the coins have the new system on them... I find it rather nice.... They marked my odd nickel like this...

UNC Details

Broadstuck Straight Clip??

Glue Residue Damanged

 

On a side note they did forget to note an overdate.. so I will have to call them up and they will fix it I am sure

[gmarguli]

Posted ACS: according to James Taylor (ANACS president) in the latest JR newsletter:

 

ANACS has changed its policy regarding net grade. In the past, ANACS would list on the holder a “detail grade”, the problem or problems the coin had and then a “net grade.” Henceforth our policy is to simply provide the “detail grade” and the coin’s single most significant problem. However, for those who request it, we will also provide a “net grade.”

 

Since becoming president of ANACS, I have been in a listening mode. My decision—and it is my decision and no one else’s--is based upon three factors. Having two grades on the label often complicated the transaction. Do you buy (or sell) the coin at the detail grade, the net grade or somewhere in the middle? Secondly, there are no accepted nor published standards for net grading, which makes net grades far more subjective than they should be, especially if they are factored into the coin’s price. Finally, since we discontinued net grading coins, I have been told by our graders that they can grade problem coins three to four times faster. This is important as we try to return coins to our customers as quickly as possible.

[Abrams-migration]

Did ANACS hire X PCGS ecpert Miles Standish??

[gmarguli]

Did ANACS hire X PCGS ecpert Miles Standish??

 

Yes. At least it looks that way.

 

All the talk is of him going there. He was listed as an ANACS Grader on the ANA web site where they were talking about the people teaching the classes. However, as last I heard, he has not made an official announcement and neither has ANACS.

[midwest]

"since we discontinued net grading coins, I have been told by our graders that they can grade problem coins three to four times faster."

 

 

Right there is the reason they should end it.

[midwest]

"Henceforth our policy is to simply provide the “detail grade” and the coin’s single most significant problem. However, for those who request it, we will also provide a “net grade.”

 

Wait now something does not add up Why continue netgrading if in his words "they can grade problem coins three to four times faster" without it? Is it because net grading isn't the problem ? Just saying notice how they will only list one problem now.

 

Also isn't it possible this might decrease peoples trust in ANACS problem coins now that they only list one problem

[gmarguli]

They'll continue to offer it as a service only because there is a small percentage of the people out there that want it. They'd hate to give it up and have another company come along and start to offer it and take away all that segment. However, I doubt there are many people who still want it.

 

I wondered about the same thing about only listing the major problem. Which is the major problem, a coin that is holed and bent?

[JamminJ]

I wondered about the same thing about only listing the major problem. Which is the major problem, a coin that is holed and bent?

 

They'll just call those "Braddick Specials".

[Count_Erfit]

I had a net hi relief that they ran out of space for. Man, did they enumerate! Yes, it was ex-jewelry, but if I had just scraped off the WHITE teensy spot of solder at least THAT deficiency would have been eliminated. Besides "POLISHED, SCRATCHED, EX-JEWELRY, CLEANED" it was a nice coin.