Posted 01/19/2007 8:14 pm
It's going to be a real chore to read the whole auction.
Someone has got to tell him that paragraphs of all caps are hard to read. And underlining all caps just exacerbates the problem.
Well, I applaud him for the time and effort he took to write his treatise. The only thing I learned was the bit at the end about the first burnished eagles going to ICG and then the next 50k going to NGC. But I understand that there is a need to get the word out.
A couple of things he claimed did disturb me a tad:
* He said that anyone who bought a PCGS slab with first strike will be able to get his grading fees back. I think it's premature to make that claim. And if that is the resolution of the class-action suits, I find it kind of chilling. How much did PCGS charge to grade a coin first strike? How much did they charge to grade a coin without that label? How many more coins were graded than otherwise would have been because of the first strike label? In short, how much did PCGS profit over and above what they were going to make had they never labeled a coin first strike? And who was the damaged party? Was it the consumer or was it another grading company whose business suffered as a result of PCGS's practices? Everyone's a lawyer these days and every wrong needs to be settled in the court of public opinion, apparently.
* Second, he mentioned that he reports NPBs to all three credit reporting agencies. I rather doubt that bit of bluster. I always figured you had to be a creditor or utility or some such to make such a report. Who vests those reports? If I list a coin on ebay, can I ruin someone's credit? Great, now every Skip in America is changing some other Skip's credit score. Again, a chilling thought.
Someone has got to tell him that paragraphs of all caps are hard to read. And underlining all caps just exacerbates the problem.
Well, I applaud him for the time and effort he took to write his treatise. The only thing I learned was the bit at the end about the first burnished eagles going to ICG and then the next 50k going to NGC. But I understand that there is a need to get the word out.
A couple of things he claimed did disturb me a tad:
* He said that anyone who bought a PCGS slab with first strike will be able to get his grading fees back. I think it's premature to make that claim. And if that is the resolution of the class-action suits, I find it kind of chilling. How much did PCGS charge to grade a coin first strike? How much did they charge to grade a coin without that label? How many more coins were graded than otherwise would have been because of the first strike label? In short, how much did PCGS profit over and above what they were going to make had they never labeled a coin first strike? And who was the damaged party? Was it the consumer or was it another grading company whose business suffered as a result of PCGS's practices? Everyone's a lawyer these days and every wrong needs to be settled in the court of public opinion, apparently.
* Second, he mentioned that he reports NPBs to all three credit reporting agencies. I rather doubt that bit of bluster. I always figured you had to be a creditor or utility or some such to make such a report. Who vests those reports? If I list a coin on ebay, can I ruin someone's credit? Great, now every Skip in America is changing some other Skip's credit score. Again, a chilling thought.
Edited by texasmick
01/19/2007 9:20 pm
01/19/2007 9:20 pm
