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Mike 's Blog

17 Nov 2022

N.G.C. CHANGES GRADES ONLY FOR DEALER'S

Coins | Mike

Good morning. I just watched the video of this new grading system 1 to 10. Well they explained nothing except the Sheldon scale will still be in effect. They didn't explain that. They also did not explain if the old slabs have to be sent back. I have 700 slabs 90% NGC. I send them back. They pay the return mailing. I jumped the gun. I called NGC this program is for dealers only. Not the regular customer. So the dealers will charge more money. That's what it comes down to. So the rest of the blog will be what happens if it applies to regular customers. I said this was about money!!If this works out prices will go up and up! This is a test to see hoW we respond to this 10 point scale!! If it does the ten point scale will be for everyone.


..Now some of you might not know they grade cards and comic books under the different grading companies. These are graded differently. A baseball card a comic book. On a card a very slight bend in a corner drops the grade. If the paint chips another off center another problem. They also grade them NM .MInt.

...That fact that they released very little information tells me beware. They show cards and comic books for a second in the video.Im sorry I'm a Sheldon man . I believe in his scale. Now here is a question.What grade does an A/U get. Or an extra fine. Or good. None of this was even touched. The video was made very poorly in the fact they didn't say anything.Not for us to worry about. Again this is for dealers but they should explain it to us.

I bought a memorabilia store for my wife years ago. I have yet to this day seen a card graded by NGC in a card auction. There's a reason for that. Collectors of cards know there grades would not be accepted. They stay with the card grading companies.

I know more information will be released. But the initial video was very poor marketing. No information about this new project very bad in the marketing business. So now we havs another decision. I will go with Sheldon. I trust the scale and its used by every grading service. China has the 100 points scale but 95% request the Sheldon scale.

.....You might like it. That's ok we chose what we like. Me I see a company that wants to take on all grading of a item that's gradable. Corner the market. That will never happen. And to re!ease information a bit at a time doesn't make it. I think this is a test to see how the customers react to it!

I know what the will do MS 10 Near Mint 9 What about proof? Can't have MS proof. You can have Mint proof. You dont have to worry about it Well lets wait and see. At my age to change now is hard. The younger collectors might like it. But as far as I think. Its a -1. I just can't believe what there doing . And I don't think the impact this will have on the dealers! More money for a 10 than a 70.even though there the same!! Do you think collectors will request more money for a 10! I do thanks for taking time to read this! Lets see what happens in 2024!!

Comments

Kepi

Level 6

Just leave the grading scale alone... What are we supposed to do... Resubmit all our coins for regrading to a new system? Sounds like a money making scam and not in a good way for the average collector. ; )

Mike

Level 7

My mentor was an expert with coins. When grading came out he taught me buy the coin not the slab!. Then autographs started he said your paying for that signature. And the fancy slab.When you show off your coins that is what you want them to do . Look at the coin. Not the label!!Rest his soul. He was a proud Marine and a great friend!! !!

Long Beard

Level 5

I reiterate what RSchwa57 stated word for word. The few encapsulated coins which I have were bought for the slab, although not at the ridiculous premium associated. Such as with John Mercanti's signature., or the Bicentennial issues with designer autographs. However, I have passed on many in the pursuit. Or, I've bought details graded key/semi-key dates for the authentication. So the scale, which ever it is or will be, means very little to myself. I either find it appealing or I do not. Because the truth is, I've seen some hideous specimens with high grades. Especially toned which often hide flaws.

RSchwa57

Level 4

I collect very few slabbed coins. I do not need someone outside the buyer and seller determining the grade to add extra cost to retail.

It's Mokie

Level 6

As NGC is very prominent in the slabbing of trading cards and comic books, I think they are hoping their new 10 point scale will appeal to those other groups and open new vistas for their bottom line and the bobby. I also think the timing is meant to let dealers know that they don't have to pay exorbitant CAC slabbing costs to creat a new and attractive product to market.

Mike

Level 7

It comes down to this. A good grade gets top dollar!

"SUN"

Level 6

Not a fan of the idea. Like it or not, we have the Sheldon system. Going to a new system would just be more income to the gradings firms.

1 to 10 would only work with decimals, which just becomes annoying (imagine perusing a glass box of coins at a show covered in a bunch of decimals... makes me shudder)

I. R. Bama

Level 5

Well, all of this tempest in a teapot isn't really even worth our consideration. I think too many people just rely on grading services rather than studying coin grades, knowing your particular coin and how to grade it yourself rather than take the intellectually lazy route of just buying your coin because it's this grade or that because some grading service said so. I defy anyone to rip open one of their coin holders and submit it to a second grading service and then rip open that one and send it to a third tpg. I'm willing to wager you won't get the same grade from each of them. I make this statement because I don't believe there is any validity and reliability in the Sheldon scale, therefore there can be no validity and reliability between tpgs who use evaluations by humans (albeit highly trained). The last thing I ever would do is submit a previously graded coin no matter what scale you prefer just to get it regraded. What a waste of money this is. Your old grading system will hold it's value because we have tons of grey sheets and green sheets over the years. The newly graded coins will have their own new wholesale and retail price sheets. In the end having the mathematical conversions such as the one I worked out in an earlier blog converting Sheldon scores to a 100 point scale ( Lord how I hate to agree with PRC on anything but this one time they are right. Think metric! The language of math and science) will allow one to convert grades easily and not have to worry about it from a financial point of view. Some folks like me don't think of how this may effect selling your coins, if you are collecting for the sake of collecting. Those who speculate might be more uncomfortable with the changes we discuss.

Mike

Level 7

Hi my friend Bama. There was a show and the main Writer Yeoman was asked what does it take to be a good grader. He replied. "A Good Loop, Good lighting and twenty years expierance!! He was not kidding. New graders for a few years of classes are tested everyday. A supervisor will take his days work and go over everyone. He's they marked down on his %. Fails again he's gone.. I studied grading for many years. It got to the point were I was at 96% correct. They said sorry not good enough. I still do very well but I cant do Gold and I cant put them in slabs. Sure you can buy them but not as good as the T.P.G. My first coin grads never toned.that was in the 1990's. If they would mail them back U.S.P.O. Pricey mail they would get more bussiness. That 26.00 return mailing is a killer. We mail them by Priority mail. The thing is we dont have every coin graded. So its not that expensive. 17.00 for grading10.00 handling and five dollars for the scratch resisting slabs. Is not bad. ..That's about 32.00. Return shipping is 26.00. I don't know of anyone who sends 20 coins at a time. Well that's it. Bottom line send them or don't. Its up to you.

I dunno, I think the Sheldon 70 lines up better with the "loose terms" (vf, f, vg, ef, ms, au, etc) better. 100 feels like there would be too small a change between individual number grades (70 really pushes the limit as it is)

Mal_ANA_YN

Level 5

What a mess. Not impressed with the new scale.

Golfer

Level 5

Businesses do what it takes to make money. It's all about making more money. Sales are probably dropping since almost every decent coin out there has been graded. They need a new gimmick.

Kevin Leab

Level 4

I'll continue to be a fan of the Sheldon scale. That's what I've been used to since the beginning of slabbed coins.

I will continue using the sheldon scale.

Longstrider

Level 6

I saw that. Stupid idea. I think they just wanted something out there as CAC starts to grade and slab coins. My opinion. Not for me. Thanks..

Rebelfire76

Level 4

There was a comparison slider on NGC’s site that showed a MS70 would be a “10,” a MS69 would be “9.9,” etc. Basically mint state would start at time and then have 0.1 increments to 10. After that it goes by half points or so, 8.5, 8.0, 7.5, etc. Their explanation is that it better aligns with other grading scales used by NGC’s parent company, CCG and its other affiliates.

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