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Coin Grader Salary

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coins92
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Posted 02/08/2010  6:14 pm  Show Profile Bookmark this topic Add coins92 to your friends list  Get a Link to this Message


How much does a grader earn? There aren't that many graders for PCGS and they sure grade a lot of coins. What kind of degree is required?

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BadThad
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Posted 02/08/2010  7:08 pm  Show Profile Bookmark this reply Add BadThad to your friends list  Get a Link to this Reply

Good question, I would guess $200k+ per year.


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coins92
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Posted 02/08/2010  7:13 pm  Show Profile Bookmark this reply Add coins92 to your friends list  Get a Link to this Reply

Honestly???! If so that's amazing.

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vermontensium
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Posted 02/08/2010  7:22 pm  Show Profile  Check vermontensium's eBay Listings Bookmark this reply Add vermontensium to your friends list  Get a Link to this Reply

I've heard ranges of 175K-300K for the senior graders. Extensive Numismatic knowledge as well as giving up any and all outside activity in the coin market.


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BadThad
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Posted 02/08/2010  7:26 pm  Show Profile Bookmark this reply Add BadThad to your friends list  Get a Link to this Reply


Quote:
Honestly???! If so that's amazing.


Not really, it takes a lot of knowledge and experience to be a grader. It's a tough job! I know I couldn't sit there for 8 hours a day grading.


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coins92
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Posted 02/08/2010  7:30 pm  Show Profile Bookmark this reply Add coins92 to your friends list  Get a Link to this Reply

I don't understand Vermontesium?

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biokemist6
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Posted 02/08/2010  8:50 pm  Show Profile  Check biokemist6's eBay Listings Bookmark this reply Add biokemist6 to your friends list  Get a Link to this Reply

If a dealer becomes a coin grader for one of the top firms, he has to give up coin dealing activity because it is seen as a conflict of interest. High end dealers make good money so you have to compensate accordingly to offset income lost from giving up the sales side.


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vermontensium
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Posted 02/08/2010  9:00 pm  Show Profile  Check vermontensium's eBay Listings Bookmark this reply Add vermontensium to your friends list  Get a Link to this Reply

Well said biokemist! College degree? I honestly don't know. Why one would be required is beyond me. A B.S. in Psychology should improve your grading skills :-)


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scubu
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Posted 02/08/2010  9:01 pm  Show Profile Bookmark this reply Add scubu to your friends list  Get a Link to this Reply


Quote:
If a dealer becomes a coin grader for one of the top firms, he has to give up coin dealing activity because it is seen as a conflict of interest.


I beg to differ. Fred Weinberg works for PCGS and he's a very active dealer here and here.

He's the one that rejected the infamous 72 silver quarter as "undetermined" which is just not right. What if whoever smuggled that in and did it made 2 of them and FW has the other one? "undetermined" then preserves value on his. I'm certainly not accusing, but it sure is a conflict of interest if you ask me.



Edited by scubu - 02/08/2010 9:02 pm
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vermontensium
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Posted 02/08/2010  9:02 pm  Show Profile  Check vermontensium's eBay Listings Bookmark this reply Add vermontensium to your friends list  Get a Link to this Reply

scubu, I don't believe Fred Weinberg is a grader. He helps authenticate and attribute errors and varieties. I can see where you are coming from with the issue of conflict of interest though.


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Edited by vermontensium - 02/08/2010 9:03 pm
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scubu
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Posted 02/08/2010  9:17 pm  Show Profile Bookmark this reply Add scubu to your friends list  Get a Link to this Reply


Quote:
scubu, I don't believe Fred Weinberg is a grader. He helps authenticate and attribute errors and varieties.


Well you can split hairs if you want, but the fact of the matter is he's likely the world's premier error dealer and can reject any error coin that comes through PCGS's doors if he wants to. If the guy that decides whether or not they even see a grader can reject them, might as well let the graders be dealers.



Edited by scubu - 02/08/2010 9:19 pm
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coins92
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Posted 02/08/2010  9:17 pm  Show Profile Bookmark this reply Add coins92 to your friends list  Get a Link to this Reply


You can still own a very expensive collection though right? I guess that's a stupid question.

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just carl
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Posted 02/09/2010  11:01 am  Show Profile Bookmark this reply Add just carl to your friends list  Get a Link to this Reply


Quote:

scubu, I don't believe Fred Weinberg is a grader. He helps authenticate and attribute errors and varieties. I can see where you are coming from with the issue of conflict of interest though.


As noted this appears to be one of those sort of, maybe, could, should type items. I wonder if there is a way of finding out the rules of TPGS employees? I know their salaries are possibly none of anyone buisness though, but I wonder about the rules of the trade.
We could probably just contact PCGS for this info, but does that mean that all of the TPGS's are bound by the same rules, regulations, procedures? I doubt that. Can they be a dealer? Can they have their own personal collections? If they are salaried by a TPGS, are they bound by some rules that if they produce a book, the proceeds go to the TPGS?


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scubu
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Posted 02/09/2010  11:07 am  Show Profile Bookmark this reply Add scubu to your friends list  Get a Link to this Reply


Quote:
I know their salaries are possibly none of anyone business though


They are a publicly traded company, you can find out if you really want to.


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coins92
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Posted 02/09/2010  2:59 pm  Show Profile Bookmark this reply Add coins92 to your friends list  Get a Link to this Reply


I'm gonna ask them tonight!

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vermontensium
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Posted 02/09/2010  5:50 pm  Show Profile  Check vermontensium's eBay Listings Bookmark this reply Add vermontensium to your friends list  Get a Link to this Reply

I'm sure there is a way of finding out. If you are ever at one of the larger shows such as Long Beach or FUN for example, I'm sure you can ask one of the graders. I don't think they would have a reason not to let you know. I've spoken to many PCGS graders and they seem fairly cordial.


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