Opinions on NGC's "We The People" slab — Welcome to the CAC Educational Forum

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Opinions on NGC's "We The People" slab

What's the deal with these? I've seen the multi-page ads for way overpriced Franklin proofs.

As I've mentioned before I like to buy high-end Franklin Proofs in NGC holders and then crack and submit to PCGS for often a higher grade.

So I won a "We The People" slab the other day, thinking, "Well this should certainly be just the kind of coin I am looking for to play my little crackout/submit ATS game."

I was very disappointed in the quality once I received the PF68CAM WTP coin: lots planchet irregularities and several areas on the bell with almost no frost. Certainly not the kind of coin I would be comfortable cracking out!

OK, so it's not really fair to form an opinion based on one coin, so I am curious about any other folk's opinions...

And who has access to the "WTP" slab option anyway? I very seldom submit anything to NGC but have never seen anywhere/anyway to request a WTP insert. Is Rick T the ONLY one who can submit for that option?? If so, isn't that a marketing monopoly that borders on ludicrous?

Comments

  • edited April 4
    I have a couple of them acquired recently (under $100 material) needing some slabs get to budget minimum slab level for shows. Like them, neat concept - ones I bought nice PQ material. Rob (friend) says they popular on the bourse.   I have no problem with the slab (neat idea) but probably paid a little too much.  It’s been really tough to buy anything right, it’s like they putting in nuclear bids.

    Everybody has their angle to work in the biz so no surprise new slab series / design.  Just part of the environment no big deal for me.  Hopefully positive Income from them.  I like NGC, they are a super grading company (about 50 pct my slabbed matl).   They have online free catalogs for world coins & currency too.  BTW I don’t waste my money playing the holder game.
  • edited August 30
    UPDATE

    I figured the coin in the OP to be an extreme long shot for a sticker but it DID earn a CAC green. S0metimes I love being wrong haha

    BTW, whoever maintains the NGC online price guide sure has a grand idea of the added value of the We The People slabs!

    Their guide has a Regular NGC slab 1958 MS65FBL Franklin at $120, whereas the WTP version is listed at $800 !

    Here is a pic of a WTP slab just in case anyone is wondering just what these look like:

  • The slab is way too busy and distracting for my taste. But a great way to market otherwise mundane coins on TV.
  • I personally dislike all of the custom stylized labels on all the services. Major negative for my taste. And, yes, I think this WTP is exclusive to him it seems. If enough money is involved I’m sure that these things can be done custom and exclusive for anyone. 
  • Don’t like it personally and I’ve moved away from NGC altogether.   Unless I buy one CACed that I think will crossover.  
  • Yet another gimmick to promote extremely common modern coins and encourage their submissions, from which NGC and PCGS are making most of their profits. Nonetheless, this holder is attractive and intriguing. And some buyers are more interested in the slabs than the actual coins contained therein.
  • edited October 14
    I DO like that there are no prongs. I wish that were an option on their standard holders.
  • These are great observations regarding the absence of prongs and the distracting busy-ness of the physical product.

    But what I was really hoping to generate from this thread was opinions on the appropriateness of the fact that only one man in the world can "make" WTP slabs. A man that makes a great deal of money selling overpriced products to the unwary and unknowledgeable, a practice that damages the hobby...
  • These are great observations regarding the absence of prongs and the distracting busy-ness of the physical product.

    But what I was really hoping to generate from this thread was opinions on the appropriateness of the fact that only one man in the world can "make" WTP slabs. A man that makes a great deal of money selling overpriced products to the unwary and unknowledgeable, a practice that damages the hobby...

    In a free market, you may charge what you please. Rick needs to add a premium in order to pay for his pricey TV ads. It is up to consumers to compare prices. All things considered, Rick's marketing may actually benefit the industry because any publicity is better than none.
  • The slab gives off a cheap gimmick vibe. Not something I’d want in my collection. The TV guy is definitely gives the hobby a black eye. 
  • The focus should always be on the coin. The simpler the insert, the better.
    Those are so busy I would actually pass on the coin because of it.
  • braddick said:

    The focus should always be on the coin. The simpler the insert, the better.
    Those are so busy I would actually pass on the coin because of it.

    Hear, hear!
  • edited October 27
    Seems like I see very few of these that are cameo, or deserve a * designation. Maybe there are some, but people don't sell them? Not sure, and not sure why? Maybe there are very few cameo? Has anybody seen a * 
  • edited October 27
    Edit: Accidental post.
  • edited October 27
     
  • What about the "PCI SIGNATURE SERIES" holder?

    Anybody know if they are generally considered more accurately graded than the standard PCI stuff?

    From the looks of this one I am guessing the sulphur insert toned the coins after a few years...

    It's on the way to me and am eager to see it in hand.


  • Rec'd. the above 1951 and not really surprised to find that it is not as labeled.

    Gradewise it looks to be 65+, maybe 66. The reverse has a solid cameo but the obverse has only a few scant cameo areas...most of the portrait and all of the lettering are brilliant/reflective.
  • We the people want our fatty back
  • What about the "PCI SIGNATURE SERIES" holder?

    Anybody know if they are generally considered more accurately graded than the standard PCI stuff?

    From the looks of this one I am guessing the sulphur insert toned the coins after a few years...

    It's on the way to me and am eager to see it in hand.


    Federal lawsuit against PCI results in $1.9 million judgement:

    https://www.coinweek.com/people-in-the-news/crime-and-fraud/coin-dealer-pci-hit-for-nearly-2-million-under-federal-racketeering-laws/
Sign In or Register to comment.