Would You Trust PCI

I don't trust any of the grading services, and neither does anyone else, which is why bluesheet prices are often 20% lower than greysheet prices for the same grade. The whole function of slabbing coins is to make them marketable to suckersinvestors who know nothing about coins and don't want to learn.

That said, PCI has about as good a rep on early copper as anyone.

I have seen some of the old green labeled PCI slabs that rival PCGS and NGC but the newer gold labeled coins seem to be a point or two off in my opinion and not real sure how good they are detecting problem coins or even fake ones for that matter

That's the excuse the grading services use. If they'd grade correctly instead of this stupid market grading, the prices would be the same.

However, when a true XF45 is market graded as an AU50, then the sight unseen price for a AU50 is now going to be the real XF45 price, because that's what you may get.

What's worse is that let's say toned coins carry a premium, so instead of the proper MS63 grade, one will be given a MS65, because it "should" sell for a 65 price.

Ten years from now, when toned coins are out of favor, you've now got a 63 coin in a 65 holder and it's worth a 61 price. Since no one is going to break it out and have it regraded four points lower, you now have a 61 price as the bid for 65 coins.

So how do you fix this? ANACS figured it out in the 70s. They certified coins as being genuine, period. If you must grade them, grade them according to standards, and price them according to market, which is what will happen anyway.

I agree with early PCI gradings as I also had several PCI graded Morgans from the early 80s that passed through with same grade +/- one numbers when resubmitted to other TPG's big 4. Many of the earlier TPG companies did grade accurately as they were formed by old time collectors. Only when financial pressure came about did "market grading" start to become rampant.

In several books be Bowers, Travers, and others and often paraphrased on this forum, it is emphasized to buy the coin , not the holder. Travers says a lucrative part of coin dealing is buying under graded slabbed coins and breaking them out to resubmit. Travers said that when he was a NCG grader, they would grade with an A,B, or C after the number to aid in determining a final grade among the 3 or more graders. There would be a 65A, 65B, 65C. Even if it was a high end 65C, the number would still be 65. Same for a low end 65(A), so if a person was a good grader, they could buy "C" coins for the same price as "A" coins and have a good chance of getting a higher grade on resubmission. He was saying that he had an 80% ratio of upgrading on resubmission, but he was a professional grader.
SO if you are buying a PCI or any TPG coin, if it is high end, buy it over a PCGS coin that is actually a low end.

Biggfred has it right, if a person doesn't learn how to grade themselves they will suffer. If one uses the knowledge gained, the TPGs are our friends as they set the same market price level( +/- ) whether the coin is an "A" avoid or a "C" choice graded coin.

Jim

I will say this about PCI. Holders are average, would not trust for long term safety and storage which is one of the reasons I use TPG. I consider myself fairly good at grading and sent them an 1885 Seated Half that I called a VF30/35 cleaned before sending. Came back VF30 cleaned. But on the other hand, I've seen coins, which in my opinion, were undergraded and overgraded by all the TPG's. I use PCGS most of the time because I like their slabs. Everyone has their preference including those who don't buy slabbed at all. Buy the coin. Storage preferences are up to the individual.

The question is too broad. PCI has been around for 24 years, they have had times when their grading was strict and times when it was loose, and they have had four different owners during that period. For those reason you have to specify specific time period for a slab before answers can have any real meaning.

LOL... well said.