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GET REAY FOR THE MARKET TO BE AWASH IN NGC COINS!

PCGS has finally derailed. They have pissed of too many people-especially dealers. So guess what happened at Baltimore? NGC got 10,000 submissions (that is what I heard) and had to close up early as they could not handle it all.

I go thru the bigger dealers boxes now and its 70% NGC.

Will more dealers submitting to NGC help its market? Will the public spend the big bucks on NGC CAC coins?

I am staying PCGS CAC. But will you change? And don't think PCGS is crossing all CAC coins-HECK NO!!!! I have a pile-and last I knew I was pretty at grading.

FYI: All the crackout genuises are pretty much shut down at PCGS. That is why a few did not attend Baltimore.
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Comments

  • Legend said:

    Will the public spend the big bucks on NGC CAC coins?

    Seems like a smart move for John Q. to focus on NGC CAC coins, (many of which are still being discounted relative to PCGS!).

    If I had discretionary $$ I would load up on these. And, thankfully, I am not a John. So many Johns

  • Hi Laura - I assume you will also be doing CAC-graded coins when they start doing that? Or at that point, are you still sticking to PCGS/CAC?
  • Re: Baltimore - the other reason why NGC got flooded with coins is that PCGS wasn't grading at the show.

  • Legend said:

    Will the public spend the big bucks on NGC CAC coins?

    Seems like a smart move for John Q. to focus on NGC CAC coins, (many of which are still being discounted relative to PCGS!).

    If I had discretionary $$ I would load up on these. And, thankfully, I am not a John. So many Johns

    Completely agree!

    - Ian
  • I place my faith in CAC first and my eyeballs second. The name on the slab is of little importance to me.
  • Ian my dear, of course I will be doing CAC coins.

    The fact PCGS was not grading at Baltimore was NOT the reason NGC got overloaded. EVERY major submitter is pissed off at PCGS. Look at their boxes-they are now 70% NGC. THIS IS FACT. There is a grading problem that needs to be addressed.

    Again, don't think an NGC CAC will cross easily....
  • Legend said:


    Again, don't think an NGC CAC will cross easily....

    I could be wrong. After all I am old. But I am pretty confident that JA has stated that ALL NGC/CAC are basically guaranteed to cross at same grade or better if submitted to CACG.

  • This one had better. Although I'll probably keep it as is. :)
    I see far worse graded higher. By photos anyhow.


  • Pyrite said:

    This one had better. Although I'll probably keep it as is. :)
    I see far worse graded higher. By photos anyhow.


    MS65 by "third world" slab standards, after the usual whizzing of course.
  • I'm sorry, I meant NGC cross to PCGS. Not happening much today.
  • Other dealers have told me that PCGS makes most of its revenue from certifying modern coins, so the vintage stuff is apparently not even much of an issue to them.
  • Legend said:

    I'm sorry, I meant NGC cross to PCGS. Not happening much today.

    Oh! Yes! That door has been slammed shut.
  • CAC fan is correct. The sad part is, PCGS has a tremendous effect on the wholesale market. Liquidity at the Baltimore show was weak due to the major buyers NOT attending. And when I talk major buyers, I'm talking the people who will spend $1 million per show.

    Its time for PCGS to start waking up. CAC will do moderns. Everyone will go where they get the best value.

    In all my years, I have never seen PCGS so tight as to the number of no grades/no crosses/down grades. It's been ever since CAC announced they were becoming a grading service. One thing I'll say, save for the Bass coins (I think less then 10% CAC'd), PCGS has been lock tight across the board.

    I am a huge PCGS CAC fan. So don't think I am spatting on PCGS. I am pointing out a problem. I do not want to buy NGC coins.
  • @Legend , why not buy “nice” NCG CAC coins, especially since they often discount to PCGS/CAC pricing? As @Bushmaster correctly pointed out, they’ll automatically cross at grade to CACG with the “L” cert suffix! And with your eye, NGC/CAC “A” coins should cross at a plus grade, again with the “L” cert suffix!

    Steve
  • I did not renew my pcgs membership.
  • edited March 2023
    Legend said:

    CAC fan is correct. The sad part is, PCGS has a tremendous effect on the wholesale market. Liquidity at the Baltimore show was weak due to the major buyers NOT attending. And when I talk major buyers, I'm talking the people who will spend $1 million per show.

    Its time for PCGS to start waking up. CAC will do moderns. Everyone will go where they get the best value.

    In all my years, I have never seen PCGS so tight as to the number of no grades/no crosses/down grades. It's been ever since CAC announced they were becoming a grading service. One thing I'll say, save for the Bass coins (I think less then 10% CAC'd), PCGS has been lock tight across the board.

    I am a huge PCGS CAC fan. So don't think I am spatting on PCGS. I am pointing out a problem. I do not want to buy NGC coins.

    Laura Legend:

    I am confused as to why PCGS is so backed up. What is your opinion as to what is causing their problem? Perhaps it is time for your new updated web site hot topic which I enjoy reading?

  • I never said PCGS was backed up-NGC was at the show. They stopped accepting coins when they hit 10,000. Crazy.

    Wine Steve, NGC CAC A coins are NOT crossing. I have a pile as does everyone else.

    I guess the old saying goes, if you can't beat them join them? I won't for NGC -they are too commercial for me.
  • edited March 2023
    Legend said:

    I never said PCGS was backed up-NGC was at the show. They stopped accepting coins when they hit 10,000. Crazy.

    Wine Steve, NGC CAC A coins are NOT crossing. I have a pile as does everyone else.

    I guess the old saying goes, if you can't beat them join them? I won't for NGC -they are too commercial for me.

    Laura- You misunderstood my comment. NGC CAC coins WILL indeed cross to CACG!!!! And if they're "A" coins, which you have the talent to determine, CACG should then cross those at a plus for that grade! So why not buy those attractive NGC/CAC coins at nice pricing, cross them to CACG once they start operations, and then sell them, either via Legend N or Legend A?

    Steve
  • Legend said:

    I'm sorry, I meant NGC cross to PCGS. Not happening much today.

    If PCGS not crossing NGC slabs then less work for PCGS so PCGS should be less backed up?
  • oreville said:

    Legend said:

    I'm sorry, I meant NGC cross to PCGS. Not happening much today.

    If PCGS not crossing NGC slabs then less work for PCGS so PCGS should be less backed up?
    I believe Laura meant that those coins are not successfully crossing at PCGS, not that PCGS is not accepting the crossover subs.

    Steve
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