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Will CAC Accept NGCX?

NGCX will grade uncirculated coins, dated from 1982 to present, on a 1 to 10 scale -- versus NGC's usual 60 to 70. CAC accepts a few of these newer issues, so will they accept NGCX and thus use the 1 to 10 scale? Is NGCX going to expand to pre-1982 issues?


Comments

  • This is an excellent question! I think @JACAC is the best person to answer this one.
  • This impacts what? 1983, 1984, and 1995 double die cents only? Unless Im missing something.
  • jerseyben said:

    This impacts what? 1983, 1984, and 1995 double die cents only? Unless Im missing something.

    You may be right but NGCX might include pre-1982 issues and/or CAC might add more post-1981 issues. I have never understood why CAC does not approve the No S proofs and 1982 No P dime, as they are rare as per their mint-documented mintages (2,200 or fewer for the proofs).
  • CACfan said:

    jerseyben said:

    This impacts what? 1983, 1984, and 1995 double die cents only? Unless Im missing something.

    You may be right but NGCX might include pre-1982 issues and/or CAC might add more post-1981 issues. I have never understood why CAC does not approve the No S proofs and 1982 No P dime, as they are rare as per their mint-documented mintages (2,200 or fewer for the proofs).
    Do you concur that a 10 point scale is no different from a 70 point scale?

    What would a MS69 be on a 10 point scale? Would it be 10 divided by 70 X 69?

    That =9.8571399. Now what? Will it get a green or possibly gold designation? Is it a B coin or an A coin?
  • edited November 17
    There wasn't a lot of info on how grades translate in the NGCX article, but it did say an ms69 was going to be a 9.9. So that's really a 100 point scale and not a simple 10 point scale. Kind of false advertising. So is ms60 an 8.0 or a 9.0? I actually think a simple 10 point scale for MS coins would work well as long as an ms6x translated to just x and not 9.x.

    Edit: It looks like over on the pcgs forum there's a post with more specifics on how grades translate, 8 is AU, 9 in ms60 etc...
  • I think across all series for modern regular issues, only 3 grades are needed. "Rare", "Scarce", "Common". These days almost every date and mint mark has a low pop top pop which sells for big bucks, and then the next grade down is what most (serious and/or registry) collectors need to settle for, and then anything lower than that is either barely worth more than the slabbing fee or sometimes not even that.

    There are of course some problems with a 3 grade scale, as some rare varieties legitimately need more grades, and also we'd now have inconsistencies as to what the coins look like across series, for example a "rare" 69-p quarter would still have some marks/issues (ie like a high end ms66 or ms67) yet a nearly perfect 96-p may only be graded "scarce". This may make it tough for newer collectors to learn.
  • There wasn't a lot of info on how grades translate in the NGCX article, but it did say an ms69 was going to be a 9.9. So that's really a 100 point scale and not a simple 10 point scale. Kind of false advertising. So is ms60 an 8.0 or a 9.0? I actually think a simple 10 point scale for MS coins would work well as long as an ms6x translated to just x and not 9.x.

    Edit: It looks like over on the pcgs forum there's a post with more specifics on how grades translate, 8 is AU, 9 in ms60 etc...

    Exactly. Math is hard.

    As to a simple 10 point scale, if comic grading and the blahblah that occurs over that is an indication of what will occur with grading coins, it is going to be fun. I look forward to GREYSHEET publications.
  • Did NGC say whether NGC coins will automatically cross to certain grades at NGCX? For example will an ms66 automatically cross to 9.6 (or count the same as such in a registry?). If the answer is no I wonder if NGCX standards will be much tighter. I wonder if the 100 (er I mean 10) point scale is a way for them to try to leapfrog pcgs (or even cacg) into the toughest standards and the highest prices realized.
  • edited November 17
    It has one possible benefit...enticing comic and card collectors to consider entering the coin hobby, by making the 10 point grading method easier for such persons to understand, since it is used in comics and cards.

    I welcome any new members to the hobby of coin collecting, but the learning curve is not going to be that simple, I think, and may produce disillusionment with the coin hobby.

    I don't know. I am old, and can't find my Snoopy slippers, again.

    Truth in Editing: changed the last word in the first paragraph to "cards" instead of "collectors".
  • It’s really a 100 point scale as someone posted on a different forum.
  • Of course. Comic collectors can't count that high, though.
  • I've looked over what they are attempting to do. It's a convoluted way of transitioning the current 70 point scale which technically has 30 set grading points to around 29 grading points. They are setting an 11 point scale between 9.0 and 10 for Uncirculated coins (9.0, 9.1, 9.2, 9.3, 9.4, 9.5, 9.6, 9.7, 9.8, 9.9 and 10.0), a 4 point scale for AU (8.0, 8.3, 8.5, 8.8) and each number below 8 will be divided into half points (7.5, 7.0, 6.5, etc), so a 1.0 is the equivalent of PR1 currently. Regular submitters will not be able to submit coins to be graded on this scale, only select retailers that NGC is working with.

    I feel like they are trying to make it look more like the current Sports Card and Comic Book grading scale. The problem is that 10 point system for those collectibles are only divided into half point increments. Personally I don't think this will catch on very well and will be around for maybe 6 - 12 months.
  • Even if the cons outweigh the pros, this is a clever marketing idea. Any publicity is better than none.
  • Most folks dislike change.

    Perhaps this will benefit the TV hucksters the most. A lot easier to tout a PERFECT TEN.
  • While this may not matter to many NGC says in it's announcement that these new NGCX holders are not eligible for the NGC registry. That sounds like a trainwreck waiting to happen.
  • There will be a separate Registry created.
  • john said:

    There will be a separate Registry created.

    Good...them them figure it out...try selling them later on GC. Just my 2 cents...
  • My bewildered opinion: new way to fleece the public. It does not sound like this makes any better for them. Someone wake me up when NGC creates a real secondary market for the stuff other than auctions. Beware of MODERNS!
  • Legend said:
    My bewildered opinion: new way to fleece the public. It does not sound like this makes any better for them. Someone wake me up when NGC creates a real secondary market for the stuff other than auctions. Beware of MODERNS!
    Not that I’m a big fan of modern bullion issues, but two things. First, it’s not NGC’s job to create a secondary market. And second, in terms of liquidity and values, what would the market for rare coins look like if there were no auctions?
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