| Author |
 Replies: 22 / Views: 3,051 |
|
Bedrock of the Community
United States
19150 Posts |
We often come across threads where a poster will ask if a particular coin should be graded and/or attributed via a TPG. On occasion, some or many community members will respond and advise against it, given the photos posted. There are instances where the original poster will become quite angry, insisting that they have in-hand something that should be submitted--no matter the feedback--and move to do so. Of course, the coin's owner can do what they want with their coin and are free to act accordingly--as it should be. So, fast forward to a 'major' TPG, where coins arrive daily by the boat load--some incredibly unique and valuable pieces, a lot of pretty decent but somewhat common stuff, and some 'just not'. Would be interesting to know what TPG screeners/graders think with all that diverse stuff passing through their shop--probably runs the gamut of 'WOW!' to 'whaaat?' I understand their job isn't to pass judgment on the reasons behind submission; their focus is to perform their duties in an impartial, professional manner--serve the customer. Just curious what they think day-to-day. Edited by ijn1944
02/19/2021 1:49 pm
|
|
|
|
Pillar of the Community
 Canada
5394 Posts |
Same as any true professional in any field .
Treat each and every one with courtesy and
respect .
A few of the new people interested in coins have
no idea of what they are doing and do not care to
listen or learn . Others are very keen to learn and
seek knowledge when presented . They buy the odd
book , join a coin club , attend shows etc.
From this group come our future numismatists .
To answer your question regarding submissions ...
Sometimes even experienced dealers or numismatists
will submit a cheap nothing coin for various reasons .
|
|
CCF Master Historian of USA Commemoratives
United States
12271 Posts |
I've spoken with a high-volume submitter I know after seeing some of his coins that seemed to defy logic in terms of being submitted to a TPG. He told me that and he sometimes adds a few no-justifiable-reason-to-submit coins to a large group of meaningful coins he's sending in so that he can reach the volume tier he needs to reach a certain discount level for all of the coins - bottom line, it's cheaper to add the extra low-value coins and get the overall discount than not to do it. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
|
|
Bedrock of the Community
 United States
19150 Posts |
commems... Interesting approach.
|
|
Pillar of the Community
 United States
8938 Posts |
Well think about this. Given how PCGS Bulk rates go if I submit 200 1961-D Lincoln Cents with a minimum grade of MS67 and 199 are below MS-67 then I pay $2 per coin that is "rejected" and only pay the full rate for the 1 coin that does go 67. I would have spent $398 in fees, and got a coin worth 1.2k
|
|
Bedrock of the Community
Australia
21786 Posts |
The people that actually do the grading are human and make mistakes occasionally - both large and small.
When the mistakes are obviously large,
can the owner resubmit to the same company for possible no extra fee?
(similar to on approval)
|
|
Pillar of the Community
United Kingdom
2133 Posts |
Quote:
The people that actually do the grading are human and make mistakes occasionally - both large and small.
When the mistakes are obviously large,
can the owner resubmit to the same company for possible no extra fee? One of the reasons I don't like slabbed coins is that I don't trust the grades. If the TPG guaranteed the grade and guaranteed to pay compensation if a body of non-TPG experts decided they were wrong, then that would be fairer. I think that if I buy a coin slabbed at MS64 that turns out to be EF45, I should be able to get compensation from the TPG for the difference in value. But obviously I'm in the wrong, that's why I don't buy slabbed coins. |
|
Bedrock of the Community
Australia
21786 Posts |
I don't buy slabbed coins either, but for the sake of discussion, and on behalf of those that do buy slabbed coins, some interesting questions do require answers.
|
|
Rest in Peace
United States
18456 Posts |
 with Pertinax ; I see many slabbed coins on this forum where I don't agree with the grades that were given . I have sold many raw coins a couple of years ago . I do my own grading by experience of 59 years in the hobby . I never had any complaints from the buyers . The only good thing about TPG ( In my opinion ) is they guarantee the coin to be genuine . Which is good for high rollers of rare coins . |
|
Pillar of the Community
United Kingdom
2133 Posts |
Quote:The only good thing about TPG ( In my opinion ) is they guarantee the coin to be genuine What is that guarantee worth? Is it backed by insurance? If a slabbed coin is later found not to be genuine, will the TPG refund the purchaser's money or supply a genuine coin of the same grade as certified on the slab? |
|
Moderator
Australia
16826 Posts |
Quote:Would be interesting to know what TPG screeners/graders think with all that diverse stuff passing through their shop--probably runs the gamut of 'WOW!' to 'whaaat?' I understand their job isn't to pass judgment on the reasons behind submission; their focus is to perform their duties in an impartial, professional manner--serve the customer. Just curious what they think day-to-day. They don't have terribly much time for thinking. The math is easy to verify. Given that we know the number of graders employed by the company, the number of coins submitted, and the likely average length of a working day, we can calculate how much time is dedicated to looking at each coin. The answer: less than 30 seconds. This is of course an average; bulk lots of coins probably get less time, while the rare and top-tier-service coins get more. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
|
|
Bedrock of the Community
United States
19150 Posts |
Not that it matters much, but wondering if TPG graders must sign non-disclosure agreements. |
|
Pillar of the Community
United Kingdom
2133 Posts |
Quote:
...we can calculate how much time is dedicated to looking at each coin. The answer: less than 30 seconds. What? That doesn't seem much time for the average fee of $25. That's $3,000 per hour, considerably more than my highly qualified and experienced attorney friends earn. |
|
Pillar of the Community
Canada
5394 Posts |
I am not surprised at less than 30 seconds .
Most experienced dealers and advanced numismatists
can make a very informed decision on a coin they are
Looking at in about 10 seconds or less .
|
|
Pillar of the Community
United States
1590 Posts |
I own a shop with a former ANACS and NGC grader. Through him I know three other graders/former graders.
One of them told me "I started by glancing at the obverse and reverse...10 to 15 seconds...and going with my initial/gut reaction. Later I thought it unfair and started to second guess myself. I then learned that I could be off, by ten points, from my team mates. I went back to my initial method and immediately brought my grades back in line with the other team members".
Over the years this small group that I am aquainted with have all said something similiar.
|
|
Bedrock of the Community
United States
94367 Posts |
Well, it's obviously not #3,000 per hour. Just because a grader spends 30 seconds grading a coin doesn't mean he grades a coin every 30 seconds! Plus, doesn't at least one other person look at the decision? Clearly most of the cost of running a major TPG - what you're really paying for - is the back office: incoming parcels, data input, storage, photography, encapsulation, outgoing parcels and so on. I think $25 is very fair.  |
| |
Replies: 22 / Views: 3,051 |
Posted 02/19/2021 2:43 pm
