Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

When Coins Arrive At A TPG -- Inside The Heads Of TPG Screeners/Graders

First page | Last 15 Replies
 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 22 / Views: 647Next Topic
Page: of 2
Pillar of the Community
United States
1562 Posts
 Posted 02/23/2021  12:40 am  Show Profile   Bookmark this reply Add jmkendall to your friends list Get a Link to this Reply
No, obviously they do not grade 3000 coins an hour!

On the one hand they have to pull it out of it's recepticle, look at it, record the grade, put it back and send it down the line. With practice about one a minute; 60 an hour. Which sounds very reasonable. Some of course may take a closer look, particularly if the are asking to certify a variety. Though I have heard stories about that.

While we all wish they would get out the loop and look at our coins for a minute or two; the truth is that they are a production facility that makes more money by getting their "Product" through the process as fast as they can.

I hear the burn out rate is pretty high. I also hear that they sign nda's; which is why I never mention my partners name.
Valued Member
Learn More...
United States
392 Posts
 Posted 02/23/2021  1:05 pm  Show Profile   Check Lancek's eBay Listings Bookmark this reply Add Lancek to your friends list Get a Link to this Reply
I am not a good graded, and I'll bet neither are most of my customers on ebay. At least they probably aren't as good as they think they are. And I can't even list a coin there with a number grade, unless it's TPG graded.

I can tell a 61, 62, 63 Morgan, Peace. The difference between a 64, 65, 66? Not so much. Bought raw '27 Peace for $35 at a local auction. Figured it was in the 62-63 range. Like to have those for my collection. And I like slabbed ones for storage, display and protection. $25 for grading. Came back a 64. Huge value difference between a 63 and 64. Listed it on ebay for $250. No bites. Sent it to Great Collections (which only sells slabbed coins) Netted out $215 after fees. Spent $50 to get a slabbed 63 '27 Peace. Which is what I was after in the first place. After subtracting out price of the first coin, price of the second, and grading cost, I still had $105 in my pocket. And felt like I got a free Peace dollar.

Reputable TPGs serve a purpose.

Pillar of the Community
Australia
756 Posts
 Posted 02/25/2021  08:11 am  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
If they are spending 10-15 seconds on the coin then that initial "gut" reaction might be right most of the time, but if I'm paying what takes me an hour to earn ($25) I do expect better than "most" of the time. I spend hours (days even) working out what coins I'm sending and if the submission (like my last one) includes 50+ examples of the same date and denomination I know which ones are better than the other (careful study of 2 coins side by side). So when the coin that is inferior to the better example gets a higher grade then that "most" of the time result has failed. Especially galling when at the "top of the pops" level the value difference can be 10X to 20X for a single grade point.
New Member
United States
33 Posts
 Posted 03/01/2021  01:00 am  Show Profile   Bookmark this reply Add TinyRetreat to your friends list Get a Link to this Reply
In addition, not just "what" they are thinking, I would want to know "who" is doing the thinking. Who are these people and what are their experiences/qualifications !?!? Do different types of coins go to different experiences levels of graders ... etc.
Pillar of the Community
United States
1562 Posts
 Posted 03/02/2021  09:08 am  Show Profile   Bookmark this reply Add jmkendall to your friends list Get a Link to this Reply
nealefendi, I once had, in my shop, a display of six 1884P Morgans all graded by NGC. All were MS 64. We used them as a teaching aid.

We would tape over the grades and then have the customers arrange them by quality finally having them grade the coins. On a very consistant basis the coins were graded from 63 to 65 by our customers. Many of whom are Morgan afficianodos. One coin was always graded MS 63 and another always graded as a 65. Of the four remaining coins; one was more often than not graded as a 63 and another as a 64+/65. The visual differences between them were very obvious. Yet, in the end, they all had received the same grade from NGC: MS 64.

We had those coins on display at a regional show we were attending. We had a gentleman come over and play our game. He was actually quite shocked at the grades...oh and these had sequential serial numbers. Soon he came back with another gentleman who "played the game" with the same results. Both had graded the coins that consistantly received 63 and 65 grades as 63 and 65. It turned out that one of them was rather high up in the NGC organization and paid a considerable premium to purchase our display. Mostly because we did not want to sell.

NGC is the largest company in terms of graders. They have about 30 graders. What happens, do you think, when they have 5000 "first strike" ASEs come in, as well as another couple thousand in "bulk submissions" from commerical accounts, and a couple of thousand more in regular folk? What happens when they have 6000 submissions for 30 graders....and that is "just Monday"?

They grade over 2 MILLION coins a year. Divided by 30 graders, that means each grader averages 670,000 coins a year. Or; about 13,000 a week or; 1900 a day. Finally that averages ~ 250 an hour. That number is probably low. It does not include turnover, holidays, vacations, training days, meetings and breaks during the day.....you get the picture.

The truth is, they literally do not have the time to do more than look at your coin for a few seconds and then pass it to the other grader for their grade. And...like anything your coin will get more attention at 8am Monday than 4:45 Friday.
Edited by jmkendall
03/02/2021 09:11 am
Bedrock of the Community
Learn More...
United States
55730 Posts
 Posted 03/02/2021  09:58 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Great information here, thanks!
Pillar of the Community
Australia
756 Posts
 Posted 03/03/2021  05:14 am  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
Hi jmkendall, (rhetorical question) why on earth would those NGC bigwigs want to pay a premium for your teaching aid collection? Unless they wanted to take it back to the graders as a teaching aid to admonish them to do better in future then the only other reason is to avoid the public seeing your display. From experience I know that PCGS is even worse in their tactics to hide their failures.
Your maths is off, with 2 million coins and 30 graders that is 67,000 per grader, not 670,000; still a hefty number as that really means 200,000 grades per grader if 3 graders grade each coin. So is it better to get a coin graded when they are super busy or super tired in the hope that they give a higher grade than the coin deserves? Perhaps someone who plays the crackout game might have some experience of this?
Page: of 2 Previous TopicReplies: 22 / Views: 647Next Topic  
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2021 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2021 Coin Community Forums
It took 0.47 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05