NGC Introduces Evaluation Tier For Show Submissions

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Author	Replies: 8 / Views: 3,024
CCFPress Press Manager United States 1420 Posts	Posted 03/13/2015 11:43 am The following is a press release from NGC NGC's new Evaluation Tier is available for all US coins submitted at select NGC on-site grading events. NGC's Evaluation tier combines and expands the services currently provided under NGC's popular CrossOver, ReGrade and Designation Review tiers, giving submitters significantly greater flexibility. Under the new Evaluation tier, coins certified by NGC and PCGS will be kept in their original holders unless the coin meets one of several specifications provided by the submitter. The Evaluation tier allows submitters to request one or more of the options below: Remove the coin only if it merits the NGC Plus () Designation or NGC Star () Designation (specify one or both). Examples: MS 63 to MS 63 or MS 63 to MS 63. Remove the coin only if it will increase by at least one full numeric point. Example: MS 63 to MS 64. Remove the coin only if it merits a better designation. Examples: MS 63 to MS 63 PL, MS 63 PL to MS 63 DPL, PF 65 to PF 65 CA, PF 65 CA to PF 65 UC, MS 64 BN to MS 64 RB, MS 64 RB to MS 64 RD, MS 65 to MS 65 FT, MS 66 5FS to MS 66 6FS, MS 65 to MS 65 FH, etc. Previously, coins submitted under NGC's ReGrade, CrossOver and Designation Review tiers would be removed from their holders if NGC believed the coin to be the same grade and designation or higher. Many submitters, however, have expressed the desire to have the coin's original holder and labeling remain intact if the coin does not merit a better grade or designation. The fee for the Evaluation tier is the standard NGC grading fee plus an additional 1% of the coin's NGC Price Guide value. If the coin does not upgrade, only the standard NGC grading fee will be charged. The coin's value will be determined by the NGC US Coin Price Guide. Note: The value for coins with the NGC Star () Designation will be calculated based on a 35% premium above the NGC US Coin Price Guide value for the coin's numeric grade. To submit coins for this service, select the applicable NGC grading tier and write "Evaluation" in bold letters on the NGC submission form. The type of Evaluation service requested should be clearly noted. The Evaluation service is initially available for all US coins submitted at most NGC on-site grading events only. Contact NGC Customer Service at service@NGCcoin.com or 1-800-NGC-COIN (642-2646) to confirm availability. Report this Post to the Staff

BStrauss3 Pillar of the Community United States 4589 Posts	Posted 03/13/2015 1:44 pm So there is now a financial incentive for NGC to upgrade? Anybody else getting that queasy feeling in the pit of their stomach? -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ Report this Post to the Staff
gotboostedvr6 Valued Member United States 261 Posts	Posted 03/13/2015 4:33 pm Agreed Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 03/13/2015 6:36 pm Quote: So there is now a financial incentive for NGC to upgrade? Anybody else getting that queasy feeling in the pit of their stomach? Yup. Report this Post to the Staff
Tbone Pillar of the Community United States 1839 Posts	Posted 03/15/2015 02:41 am Gradeflation here we come. Report this Post to the Staff
BStrauss3 Pillar of the Community United States 4589 Posts	Posted 03/15/2015 10:21 am Thinking about this it should be the inverse. You pay 1% of the increase in value between the current grade and the one you want, and they refund half of it if it does increase... -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 03/15/2015 10:30 am On the other hand, there is CAC and the popular opinion in the hobby that the TPG's are too loose. It's my opinion that the TPG's are running scared, I've noted grading to be generally much tighter the last couple years and I'm far less worried about this move than I would have been 5 years ago. Report this Post to the Staff
Tbone Pillar of the Community United States 1839 Posts	Posted 03/15/2015 1:29 pm Quote: Thinking about this it should be the inverse. You pay 1% of the increase in value between the current grade and the one you want, and they refund half of it if it does increase... I don't think that's right. PCGS has been doing pretty much the same thing for a little over a year. They call it their "Reconsideration" service http://www.pcgs.com/reconsideration/ If it upgrades it's the standard grading fee plus 1% of the total guide price value at the new grade, not the difference between the old and new grade. And if it doesn't upgrade at all they just charge you their standard grading fee and send it back. - Here's an example of a submission to NGC under this new "Evaluation Tier" plan. You submit the following coin: 1908-S 50C Barber half dollar NGC MS64 (current published value is $4450.00) They will grade the coin still in the holder and do one of the following: It doesn't upgrade at all so you pay the standard grading fee which is $18 and they send the coin back to you without reholdering. They decide to upgrade it to MS64 Star(). So you pay the standard grading fee which is $18 and 1% of the guide price at a 35% premium. That's $4450.00 x 1.35 = $6007.50. 1% of that is $60.08. So you are charged a total of $78.08* and the coin is reholdered with MS64 Star() and sent back to you. They decide to upgrade it to MS64 Plus(+). So you pay the standard grading fee which is $18 and 1% of the guide price for MS64+ which is currently $4850.00. 1% of that is $48.50. So you are charged a total of $66.50* and the coin is reholdered with MS64+ and sent back to you. They decide to upgrade it to MS65. So you pay the standard grading fee which is $18 and 1% of the guide price for MS65 which is currently $6100.00. 1% of that is $61.00. So you are charged a total of $79.00 and the coin is reholdered with MS65 and sent back to you. In every case other than just sending it back to you they make more money. In the case of more valuable coins or coins where there is a marked jump in value between grades they get quite a bit more. Now of course for you, as their customer, it's probably worth doing in quite a few cases as the gain in value more than justifies the fee you pay. With standard grading, the 3rd party graders get the same amount of money no matter what the grade turns out to be, not so in this scenario. You can be the judge as to whether the 3rd party graders have a financial incentive to upgrade, and as a consequence promote gradeflation. On the surface it sounds like everybody wins with this service, but what about the hobby as a whole? There have been many good articles over the years about gradeflation and how it will likely effect the hobby. You decide. Edited by Tbone 03/15/2015 2:03 pm Report this Post to the Staff
kkirby99 Valued Member United States 231 Posts	Posted 03/15/2015 1:44 pm I find myself more and more gravitating towards ungraded coins with the eye appeal that it exhibits. These TPGs are going down a slippery slope with this kind of incentive. I even just bought a coin slabbed in the dreaded NNC holder because of the eye appeal. It won't stay in that holder but you get the idea. How long before PCGS and NGC start being regarded in the same light as the ICGs of the world? I've bought one of those lately as well. There is no question that the financial incentive is there now for resubmitting coins for upgrades but pretty soon we'll have to start asking ourselves not only who graded it but when was it last graded. This sucks. Report this Post to the Staff
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