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Why I took a break from PCGS grading.
I have always loved their consistency over the years. Even have a couple of friends there. That said, this last year has been questionable, when choosing a kinder word. Even tough I could pick from several or more examples, I chose the following.
I bought this coin on eBay, earlier in the year, if memory serves.
That is a CAC GOLD sticker on a FATTY! I cracked it out and sent it in.
Here is what it came back as. On submission one. (Copied right from my order)
What a good grade. I still felt it was better, so I cracked and sent again. Here is the cut/paste from the next submission.
Are you kidding me? What a joke! So I crack and send again!!!!!!!!
And the grade comes back........
A total JOKE my friends. Thus, I will not send ANY coins in for grading. CHEERS!
I bought this coin on eBay, earlier in the year, if memory serves.
That is a CAC GOLD sticker on a FATTY! I cracked it out and sent it in.
Here is what it came back as. On submission one. (Copied right from my order)
What a good grade. I still felt it was better, so I cracked and sent again. Here is the cut/paste from the next submission.
Are you kidding me? What a joke! So I crack and send again!!!!!!!!
And the grade comes back........
A total JOKE my friends. Thus, I will not send ANY coins in for grading. CHEERS!
This discussion has been closed.
Comments
And another reason why I chose to collect NGC fatties beaned for a sweet smallish collection.
And yes I fully understand that the market doesn't value beaned NGC coins as high as beaned PCGS coins, but then I have never followed the masses and if I lose monies someday in the future so be it. I am not in this hobby for the money although I have a good amount invested.
A lot of money to get back to the original 65 grade. Looks like NGC nailed it the first time.
I would guess that as a 65 with a gold sticker on an old fatty the coin would sell for more than in a new PCGS 66+ holder with no sticker.
The price for this coin only goes up dramatically at 68. Did you really think cracking out the 66+ that it would come back as a 68?
Send the coin back to CAC now in the PCGS 65 for a re-sticker as gold and lesson learned.
Let's not kick someone while they're down but I would never crack a gold bean either.
It would have fit perfectly into my collection as is, 30 + year old holder where said coin remained unmessed with and conservatively graded by NGC and then basically regraded ie stickered by our Hosts and given the highest honor, who could ask for more.
I also realize that almost every dealer I know does this on a daily basis because they understand the market and want to achieve the highest dollar amount out of the market because they know that once in a PCGS holder vs NGC they will achieve the highest selling price (because collectors want their stuff in PCGS holders).
IMO this whole philosophy is ridiculous and unnecessary but it is what it is. Wouldn't it be great if CAC got into the slabbing business and solved the problem once and for all, one can only wish.
BTW beautiful comm either way!
Frankly, the standards for BOTH PCGS and NGC seem to be a moving target. Keep in mind, diff graders might have looked at the coins each time
The point of the discussion is the complete inconsistency lately. Numerous graders and a finalizer saw it as a 66+, and a month later as "CLEANED"? When I send it back to CAC with all the proof, I am confident I will again get the Gold bean, as I have in the past.
How can a slabbing company legitimately call a coin that they graded multiple times 66+, cleaned, 65? I thought there is a science, a method, and an a learned opinion that distinguishes cleaned from uncleaned especially when in the upper grades, and when grading on a 70 point scale which is being promoted by the grading companies ignorer to do a more professional job for its clients that there is a measurable difference between 65 & 66 let along the advent of the most important plus designation.
I personally am unable to distinguish between 1 point let along a plus, but the grading companies are selling us its relevance, and now you are saying that how can one expect a human eye/opinion be expected to grade such close differences? You cannot have it both ways. Either the grading companies grade accurately between such close points or we go back to bu, choice bu where there is a grey area between 1 point differences.
And then how can you justify the huge price jumps between 65 & 66 in many a series if a grading company is going to fail when the same coin is submitted 3 times.
To me its a travesty of the grading system or the grading company where the collector always loses when the music stops.