Regarding the Coin World grading test

[Julian]

It would be interesting if the major services all contributed $5000/year to an independent and the results published. That would really put something behind their proclamations of superiority. My guess is that PCGS, NGC, ANACS, and ICG would participate.

 

[keithdagen]

Interesting idea, but I could already see smaller services claiming bias because they couldn't afford to offer a contribution.

 

I like the idea of an organization doing something like this on a regular basis, but I would prefer to see someone like the ANA do it.

[gmarguli]

It would be interesting if the major services all contributed $5000/year to an independent and the results published. That would really put something behind their proclamations of superiority. My guess is that PCGS, NGC, ANACS, and ICG would participate.

 

I bet they wouldn't. PCGS works on trying to convince everyone that they are tighter than the other services and their coins sell for more. NGC tries to promote consistency. ANACS points to variety attribution as their strong point. ICG stresses blind submissions and eBay users loving them.

 

I'm PCGS, give me one reason why I should participate in this? If the grades that I give the coins are the same as the other services, then I've just paid $5,000 to help destroy my reputation as a tight grader. It does nothing to promote the idea that my coins sell for more.

 

I'm NGC, give me one reason why I should participate in this? If I grade the coins higher than PCGS, I just paid to promote PCGS.

 

ANACS doesn't promote itself based on its grades, so this isn't a good test for them.

 

ICG would be murdered in this test. If someone compared the NGC/PCGS grades to the ones ICG gives, they'd be paying to tell the public that they are as bad as ACG.

 

 

Also, who would conduct this test? The ANA? Aren't they in the pocket of NGC? Wouldn't that be the perception if NGC came out on top?

 

Then there is the perception of a BS test where the grading service is tipped off. Kind of like the Coin World test. Who thinks it was a real test? ACG bodybagging coins. Come on. I have to wonder if the person submitting the coins had them returned directly to the Coin World offices. Seemed like a scam test to me.

[Julian]

I don't think that it was a scam test, Greg.

 

I do see your points, however. You are probably correct that it will never come to pass, but in a more perfect world.......

[GDJMSP]

I don't think it was a scam test either - but everyone is entitled to their own opinions.

 

While I doubt that the grading companies would ever agree to put up cash to fund such testing - I rather think collectors might. Should not be too hard for Coin World or any other organization to establish a fund for this purpose. Then interested collectors could make contributions to pay for the grading fees incurred during the testing.

 

Even small contributions would quickly add up and this would allow the testing to be done on a continuous basis. Before long enough data could be compiled to provide fairly accurate results. Something like that might just prove interesting & worthwhile.

[Leothelion]

It would be interesting if the major services all contributed $5000/year to an independent (grading service with published results) and the results published.

 

If this is the question, the use of one perfect slab with a inscribable label would be needed. After a company inscribes it's grade on this slab, it is then sent to the next grading company for another grade and so on until that coin builds multiple grades. What the independent people can do is add them all up and divide to give us an average grade?

 

If any of the above fails to reason then what will the purpose of this independent company serve?

 

Leo

[Beijim]

After a company inscribes it's grade on this slab, it is then sent to the next grading company for another grade and so on until that coin builds multiple grades.

 

I'd want each company to grade the coin in the blind. That is, I'd advocate having each company simply report its grade independently to the sponsor. Slabbing the coin first as a protective measure to ensure each company grades the coin in exactly the same condition seems a reasonable approach.

 

Beijim

 

[Todd-migration]

In a perfect world grading would be an exact science that something other than an unperfect human who is prone to error would grade coins and there would be no need for such tests. But we dont live in this fantasy world. There are ways around the system no matter what you do. Somehow someone who does not like the rules and is motivated by money will always find a way for it to benefit them. I will always look at the coin and give some consideration to numbers before I make my final decision to buy wether they paid money or not to say I am better than them just look at the report. It is such and imperfect system and coins will be undergraded and overgraded. I just hope I find the undergraded ones.