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Replies: 17 / Views: 3,505 |
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Pillar of the Community
United States
1151 Posts |
Do any people on here think that it is a good idea for me to start my own TPG? I think it would be a great idea because the prices for PCGS or NGC are insane.
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Pillar of the Community
United States
4846 Posts |
i highly doubt you can start your own grading service, tens of hundreds have tried and failed.
and then the cost of the equipment, the plastic, ect.
your service will just turn into a basement slabbing service.
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Pillar of the Community
United States
1081 Posts |
Do you have any qualifications? You need years of experience with many types of coins to be anywhere near the experience required. Keep in mind, your slabs won't bring any where near what PCGS or NGC bring as your brand won't be trusted for some time, if it ever is. I would suggest saving you money.
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Pillar of the Community
United States
1745 Posts |
I don't think it's a good idea, unless you have unlimited money to invest in equipment, staff, advertising, etc. and are able to ride out not making any money for a number of years.
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Valued Member
United States
406 Posts |
Considering the amount of money that NGC and PCGS have to put into their operations to be competitive (advertising, facilities, materials, staff, etc), and considering the likely number of extremely-high-value coins that they process in any given year, I'd say their prices aren't that bad.
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Valued Member
United States
361 Posts |
 with all of the above. Please don't think people are being arbitrarily negative. There are probably just too many obstacles to overcome. Now maybe if you presented a plan with financial backing and a lot of numismatic expertise..........
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Pillar of the Community
United States
1064 Posts |
Agree with numismaniac; you would first need a Business Plan, and doing that might show a lot of the weaknesses that maybe you haven't thought of, especially for such an expertise-driven enterprise. Another asset that NGC, PCGS, ANACS etc.. have is brand recognition, and that takes many years of quality services to earn. The downside is the opposite, all the basement slabbers and outright thieves that have made new entries in the TPG business tarnished from the get-go.
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Moderator
 United States
16679 Posts |
The prices for PCGS and NGC coins are insane compared to what, SGS? I have to admit, the thought crossed my mind at one point. Here is the deal, the big 3 would crush you where you would never make it off the ground. Then look at PCGS for example, tons of name recognition in the Numismatic world.
swcoin.ecrater.com
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Pillar of the Community
 United States
1151 Posts |
I was thinking and you guys are right. And for PCGS and NGC, I was reviewing some of their prices and I thought " These really aren't that bad" So thanks for your input and I do not want to have a basement slaabing operation.
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Bedrock of the Community
United States
17884 Posts |
If you think their prices are insane, wait til you find out that if you want a holder design that is distinctly yours, the injection molds cost $10K each and you will need at least three of them. On the other hand if your service fails you can always sell shells to other basement slabbers.
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Moderator
 United States
16679 Posts |
Then if you really want to do it right, you will need sonic sealing equiptment tailored to your own slab design as conder101 pointed out as opposed to using crazy glue or Elmers like SGS. Then, there are employees. Good luck handling hundreds to thousands of submissions all on your own.
swcoin.ecrater.com
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Pillar of the Community
United States
2661 Posts |
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Moderator
 United States
23522 Posts |
The first things you'll need are 25 years of experience selling and grading coins, and a name known throughout the United States for the quality of your grading.
Then the hard part starts.
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Bedrock of the Community
United States
20753 Posts |
Yes and no from me. No because your just to late to even attempt that. If you go to Google and type in TPGS's you'ld find there are already a real pile of them and many that Google doesn't know about. This suggestion is sort of like what happened to the many people that opened up Stores for selling, buying, renting VHS and BETA tapes. After all the big store chains started doing that, TV adds for that, articles in newspapers, then to try to start a new store was just to late and most went out of buisness. Same with TPGS stuff, just to late. Also, just where would you start to dump all your finished products. ebay? Coin shows? Local coin store? Not many would want yours if they never heard of yours. HOWEVER, there are places that sell the plastic holders cheap. You don't have to do anything special for sealing, just use Super glue. You do not need experience grading since many of the slabbed coins I've seen look like they were graded by a drunk. And t hose little tabs that explain what is inside the slab? Just use a computer printer. Doesn't have to be fancy since you would probably never sell them anyway. If you have nothing better to do, lots of money to spend, a place to make them, no expectations on success, why not. 
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Pillar of the Community
United States
1547 Posts |
Why don't you just offer yankee1227 stickers? It'd be more cost-effective. I think CAC buys theirs from China, where the production costs are lower.
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Pillar of the Community
United States
931 Posts |
I personally think that NGC and PCGS have pretty fair prices for what I needed. I had about a dozen raw Indian Half Eagles, one of the most widely counterfeited gold coins. I paid between $300 and $350 for all but two of them. I joined for this year only and now all of my Half Eagles are hermetically sealed and graded, but much more important, they are authenticated and guaranteed forever. Not only that but I bought most of them at a dealer estimate of Extra Fine and all but two of them graded Almost Uncirculated, and most of them AU55 and AU58. I had all of them put in the new Scratch-Free Edge View holders and my collection is nicely packed in an NGC box. I used to have a bunch of coin flips rubber banded. Now when I lay them out it is a beautiful sight. If I ever go to sell them (which I doubt) there will be no arguing about exactly it is that I am selling. I was lucky enough to buy a mint state Half Eagle for $400 on an ebay snipe, so between the free submissions that NGC gives you when you join, and the $400 in value above what I paid for my mint state coin I have a total of $75 wrapped up in all of my fees including shipping. All in all one of the best investments I could have made to add value and safety to my little collection.
Edited by junior e 08/11/2011 9:51 pm
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Replies: 17 / Views: 3,505 |