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 Replies: 16 / Views: 3,824 |
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Pillar of the Community
United States
1547 Posts |
Number one, they're realtors, except, for coins. That's their business model. Strictly-speaking, they appraise coins for the market, based on comparables, and nothing more. At the same time they appeared on the scene, the ANA switched from technical or condition grading to market grading. Now there's a coincidence! Number two, they wrote the book on market grading. Oh, I know, those are ANA standards! But, cut through it. Many of the same folks who wrote those standards were instrumental in starting the TPGs, just after that. Now, finally, where does that leave us? It leaves us to have to accept any grade they put on those slabs. Think about it. Again, those are market grades. They're not technical or condition grades. On what basis can anybody challenge them? If you still don't understand, here it is, straight from PCGS; this is all those grades are: "Market Grading A numerical grade that matches the grade at which a particular coin generally is traded in the marketplace. The grading standard used by PCGS." http://www.pcgs.com/lingo.chtml?uni...313&letter=MIt''s not rocket science, folks.  |
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Pillar of the Community
United States
1534 Posts |
But they're just accepted as such and are usually significantly close to the technical grade. Either ways it doesn't really matter what grade they put, just grade the coin for yourself instead of relying on what they grade it at.
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Pillar of the Community
 United States
1547 Posts |
If you're thinking of offering your coin on the market, today, and you can justify their fees in your overall cost, these realtor/appraiser-style "graders" is the place you want to be. It's like if you're selling your home. You at least want to give them a shot at that "grade." You at least want to get that Remax sign on your lawn. Short of that, however, it's like getting an appraisal on your home, while you have no plans on selling it. By the time you do get around to wanting to sell it, that appraisal you got is going to be "stale." Outside of that, I fail to see any point in their "grades." Their market grades are useful when the coin is going on the market. Outside of that, they're useless.
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Valued Member
United States
149 Posts |
the nice thing about coin collecting is you always can pass on a coin if you don't like the way it looks, or if you feel it is overgraded, which some are. If you're going to be serious in this hobby, you should learn to grade to avoid making mistakes
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Pillar of the Community
United States
1150 Posts |
I've found coins graded by 'third tier' graders that are better than stated grade, and I've found coins from 'top tier' graders that just aren't up to par. It is not a science, more of an art and most definitely it is all based upon opinion.
The good thing is that top tier graders' grades are generally widely accepted, which as someone else pointed out, helps sell the coin (even sight unseen) when it is going on the maret.
I look at it this way: Graders are a necessary evil. When I die I don't want my daughters or wife trying to grade my coins properly and attempting to get full market value for them because in reality that is just not going to happen. More than likely they would get severly ripped-off and I would be turning in my grave.
It will benefit my heirs a great deal if my coins are already graded by a top tier company. That way, my girls can look at the grey sheet, find the stated grade and have a general idea as to a coins value when dealing with potential buyers.
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Valued Member
United States
307 Posts |
 with all the comments. The true advantage of TPC is that for those of us who are grade conscious collectors, but are poor graders we need the assurance that a coin is genuine and is of a certain quality. However I see some coins new (Lincolns)that are graded and their value is less than what it cost to have them graded. The price is more than RAW coins so the grading has some effect. I feel that there is value in a graded coin worth the money. Only my opinion.  |
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Pillar of the Community
United States
1547 Posts |
Yes, I could see how the TPGs could be helpful to people who don't know the first thing about coins, you two got me, there. |
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Pillar of the Community
United States
601 Posts |
TPGs are GREAT! The exist for those of us who know how to grade to be able to level the field with those who never bothered to learn. The ones who CAN grade (and it's not difficult with the current TPG standards) are able to make piles of money paid by people who want to collect but never got around to studying the hobby. I know this sounds flippant, but I slab several hundred coins a month. Most of my coins that go to PCGS are purchased by PCGS registry collectors, who not only won't buy a raw coin, but won't buy an NGC coin! They want a slab that's ready-made for their set. And most will pay strongly for it. Love it, enjoy it and get while the gettin's still good. Well, it's been 25 years since the 3 TPGs came onto the scene, but still good! Edited by liveandievarieties
04/01/2011 05:05 am
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Pillar of the Community
United States
3592 Posts |
I agree with liveanddie...take advantage of the situation. However, I compare those who collect only slabbed coins to the guys at cars shows I attend. They pay somebody to build their cars because they don't know how, then go up and collect a trophy for something thay had no hand in.The TPG's are selling a false sense of accomplishment or knowledge.I may not be an expert or have the best collection,but is something I accomplished through hard work and learning...not just shelling out a few bucks so I could say "look at me". |
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Pillar of the Community
United States
601 Posts |
I love the analogy Maineman!
I love it because I'm the fool shelling out serious cash for my neighbor to restore my '56 Chevy Truck! lol
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Pillar of the Community
United States
601 Posts |
The Eliasberg collection is one of the best examples of someone who LEARNED. Before there was a grading company, there was Louis Eliasberg. When his incredible collection sold, many pieces were the finest known. He had an incredible eye and great knowledge and understanding of our hobby. Long before there was a TPG, he was consciously seeking out premium quality examples of coins for his collection. What do you think he'd say now about a company who you pay to get their "opinion". He wouldn't, he'd laugh. |
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Pillar of the Community
United States
3592 Posts |
liveanddie, that is hilarious that I chose a car restoration.But I have a feeling you are not going to take credit for your truck.
And I think you hit it on the head with Eliasburg....the laughter that is earned through accomplishment is the sweetest.
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Bedrock of the Community
United States
17884 Posts |
Quote:The Eliasberg collection is one of the best examples of someone who LEARNED. Before there was a grading company, there was Louis Eliasberg. When his incredible collection sold, many pieces were the finest known. He had an incredible eye and great knowledge and understanding of our hobby. Long before there was a TPG, he was consciously seeking out premium quality examples of coins for his collection. Eliasberg was interested in coins but I don't know how well he knew them. Most of the credit you are giving to Eliasberg belongs to the Clapp family Some 90% or more of the Eliasberg collection was the Clapp family collection that had been built up over two generations. Eliasberg bought the Clapp collection and then hired agents to locate the pieces still needed to finish off the collection. |
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Pillar of the Community
United States
601 Posts |
I don't doubt that you're right Conder- I may very well have mixed up my famous collectors. But my point remains- if you look at some of the most amazing collections ever assembled, and they're put together for a fraction of what the collection sells for at auction. And usually assembled by a single, knowledgeable individual who took the time to learn.
TPGs serve their purpose, but I guess that's up to the individual as to what purpose it is.
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Pillar of the Community
United States
1547 Posts |
Quote:
I know this sounds flippant, but I slab several hundred coins a month. Most of my coins that go to PCGS are purchased by PCGS registry collectors, who not only won't buy a raw coin, but won't buy an NGC coin! They want a slab that's ready-made for their set. And most will pay strongly for it. Love it, enjoy it and get while the gettin's still good. Well, it's been 25 years since the 3 TPGs came onto the scene, but still good! What a clever marketing gimmick those registry sets are, huh? Liveandievarieties, you state a very persuasive case for, "When the gravy's flowing, you want to be right there with your kisser under the faucet!" Can't take issue with that.  |
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Bedrock of the Community
United States
10045 Posts |
Quote:The TPG's are selling a false sense of accomplishment or knowledge. There's some truth to this. When the collector becomes the weakest link, their trust in a slab may become their downfall--ie those counterfeit coins in fake slabs.  I do think the top TPGs offer a valuable service for key US coins. But, as I collect mostly die varieties, slabbing my overdates would make it much harder to enjoy my hobby. |
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Replies: 16 / Views: 3,824 |
Posted 03/22/2011 11:45 am
