ALL PCGS COINS TO BE REMOVED FROM WORLD SETS posted by Augustus

[CSJournals-migration]

NGC removing your PCGS registered coins from your world sets

 

NGC World Coin Registry Announcement

Posted on 1/17/2012

 

Effective January 31, the NGC Coin Registry for World coins will be NGC-exclusive.

 

The NGC Coin Registry is about to undergo what may be the most significant overhaul since it was started a decade ago. On January 31, the NGC Coin Registry for World coins will be NGC-exclusive, meaning that only NGC-graded coins will be eligible for inclusion. This change will result in a better experience for collectors with World coin Registry sets.

 

In the past few years NGC has become widely recognized as the leader in World coin grading, both in the United States and abroad. Collectors and dealers value NGC's consistent and accurate grading, as well as the NGC Guarantee. NGC continues to expand globally and currently maintains a presence in China (Guangzhou and Hong Kong), Taiwan, South Korea, Singapore and Switzerland.

 

Most NGC World Registry Sets are already NGC-exclusive, so this change will affect relatively few users. Ultimately, it will allow us to create more accurate Registry Sets, streamline the process for adding coins to sets, and enhance the competition. All coins will continue to appear in your Collection Manager inventory. US Coin Registry Sets will be unaffected. We apologize for any inconvenience this change may cause. Thank you for your continued support of the NGC Coin Registry.

 

See more journals by Augustus

[jayman1970]

I hope in the future all registry sets are NGC only here at Collectors Society.PCGS will not let coins other than theirs be included in the sets at PCGS registry.Fair is fair,just my opinion!

[coinsbygary]

Inconvenience, yeah it sure is. The question now is what do I do with the PCGS world coins in my registry sets? Fortunately this only affects two sets, but my Wilhelmina registry set is a whole and this will bust it up and force me to either cross-over or buy new coins. The other set, a collection of Britannia's I might just have to live with. I do not understand the rational behind this move. A part of me is suspicious and perceives this as a money grab to get more coins crossed over. Another part of me prefers NGC over PCGS in the world coin arena because I think NGC grades their world coins much more conservatively (at least the Wilhelminas'). I don't get it at all, however in a prelude to this move, the 2011 world winners were about 95% or better NGC populated. At any rate what irks me most is that I will have to spend money on coins I did not previously have to. Another point not mentioned is how this affects custom sets, will they be purged of PCGS coins also? As I said before, I prefer NGC coins in world sets and this affects a limited number of coins, but I am disappointed with this move. Whats next, US coins?

[CSdot]

I hope they don't make this change with US coin sets. I chose here over the PCGS site because NGC allows us to register both. I have gained a preference for NGC coins as a result. However, if both are not welcome here, I may have to find a new online "home" for my sets.

[Jeffrey Cardona]

I respect and admire NGC in allowing PCGS slabbed coins in their registry. It's shows the quality of NGC's character. I believe they should continue with this policy throughout the registry except in one area. When the awards are handed out each year, they should go to sets that consist of NGC slabbed coins only. It is an NGC website and lets them reward completed sets with NGC slabbed coins but also still allows collectors to register and show PCGS slabbed coins. This could be done very simply by giving PCGS coins either no points or half points compared to a NGC coin.

 

Jeffrey

[Mokiechan]

I respect and admire NGC in allowing PCGS slabbed coins in their registry. It's shows the quality of NGC's character. I believe they should continue with this policy throughout the registry except in one area. When the awards are handed out each year, they should go to sets that consist of NGC slabbed coins only. It is an NGC website and lets them reward completed sets with NGC slabbed coins but also still allows collectors to register and show PCGS slabbed coins. This could be done very simply by giving PCGS coins either no points or half points compared to a NGC coin.

 

Jeffrey

 

Completely concur with Jeffrey. That would provide incentive for all those folks that truly compete for awards to step up and buy NGC. The rest of us that just do this for a way to organize our collections can continue with our mixed sets.

 

Later,

Malcolm

[BULLY]

I posted a journal entry on this subject as well. I am rather surprised by this decision, particularly when NGC has gone out of its way to EXPAND the Registry to allow users to maintain all sorts of coin data for their collections. it seems to me that removing PCGS related coins from World Coin Registry Sets is out of step with that direction.

 

I've also always thought of PCGS as a "first tier" grading company and always considered PCGS graded coins as equal in quality to those of NGC, and vice versa. Therefore, while I tend to use NGC for my grading services, I've never hesitated to buy PCGS graded coins when I find the coin I want/need for a spot in my collection when the price is right.

 

I also thought it most unfortunate that NGC would just give out the 2011 Registry Set Awards, and then about a month later, that can all change!

 

Specifically, I went through just some of the World Coin Registry Sets. Some of the 2006-2011 Registry Set "Best in Category" winners have PCGS graded coins in their sets, making them the winners. I also found that some members who are either number 2 or number 3 in the same World Coin Registry Set category either DO or DON'T have PCGS graded coins in their sets. Therefore, come January 31, 2012, when PCGS pulls the PCGS graded coins from the World Coin sets, the 2011 winners could drop right out, and second or third place folks might jump right into position, based solely on the fact that they have, or DON'T HAVE, as the case may be, PCGS graded coins in their World Coin Registry Sets.

 

While NGC says it will affect relatively few people, what about those people who drop from 1st place? I think that's sad. And what's the rationale?

 

I went over to PCGS and took a read about their World Coin grading, and their security info.

 

For starters, I found that like NGC, PCGS has overseas operations in both Paris and Hong Kong, to help with counterfeits in the marketplace and to avoid the customs issues of shipping to/from the U.S.

 

I also found it surprising that NGC would take this stance, considering the following information I found on PCGS' web site:

 

PCGS Secure Plus Now Includes FREE, High-Quality Images

"PCGS Secure Plus is the most reliable protection you can give your coins. With the PCGS Secure PlusT service, each coin (both sides) is laser scanned, imaged, and registered into the Secure Plus data base. A metallic analysis can also be performed to help detect counterfeit or altered coins. If a coin has been tampered with, it will be revealed. And now, high-quality images of all coins submitted under Secure Plus are available under Cert Verification on the PCGS website, free of charge."

 

http://www.pcgs.com/secureplus.html

 

PCGS Secure Plus Now Includes all Service Levels

PCGS has expanded our successful PCGS Secure PlusT Program to include all current service levels. Secure Plus Service is only available for coins submitted under Grading and Regrading submission types (no crossovers). This includes Modern for $20 per coin, Mint Errors at $65 per coin, Special Issues at $65 per coin and Show Economy at $75 per coin (5-coin minimum). These changes go into effect immediately.

 

And then ESPECIALLY when I read this:

 

Important New Non-U.S. (World) Coin Requirements

Effective November 15, 2011, all non-U.S. coins dated prior to 1955 will be REQUIRED to go through our PCGS Secure PlusT Service. Coins minted after 1955 with a declared value of less than $1,000 are eligible for our Regular Modern service level (this includes Chinese coins as well).

 

PCGS Secure Plus is a new, patent-pending service we consider to be the industry's most significant advancement in consumer protection since the introduction of third-party grading in 1986.

 

Released after two years of extensive testing in partnership with Coinsecure, Inc. of Palo Alto, California, the PCGS Secure Plus system digitally captures the unique "fingerprint" of each coin, and enters it into a permanent data base. Neither the coin's appearance nor its grade can be changed without flagging the system. If any previously registered coin has been artificially toned, puttied or processed in some other way in an effort to get a higher grade, it will automatically be detected.

 

With such an impressive and aggressive effort on fraud detection by PCGS, I wonder why NGC wouldn't see fit to continue to recognize PCGS graded coins in the World Coin Registry Sets as of January 31st? It leaves me more than a bit nonplussed.

[LJRambo111]

I believe that it doesn't matter what any of us feel. The perception about NGC will probably go the way of the US mint? Does it matter what us collectors think?

 

Why wouldn't a collector want coins in their sets to be by both PCGS and NGC? If the registry was set up for collectors I say use them both.

 

Company's that don't stay in touch with the majority of their clientele will loose grace with their clientele. I view the addition to the new labels this year as propaganda so everyone will grade more. I am surprised that NGC allowed everyone to get the label. I find the fact that NGC gives special labels to certain dealers very upsetting. Is it despaired treatment? How many different labels do we need to designate Early Release or First Release? How many thousands of grading fees do you need to do to be treated like a decent customer?

 

I won't even tell everyone how I feel about grading price increase, how will this affect new collectors? The only people who make money on new releases is the ones who get their sets graded with preferential fast turn around from NGC.

 

It's a shame that how the grading company treats the public will determine the fate of the future of coin collecting. Maybe NGC should hire someone to determine their policy's faster.

 

Maybe a nobler decision would be to eliminate China's coins because of the human slavery they endorse.

 

Larry Ramos

[Spencer Collection]

I have removed approximately one thousand ( 1,000 ) coins from my inventory and sets which included approximately 60 percent PCGS graded coins. I have now gone from number 12 in ranks to zero and will no longer participate in the NGC registry in any manner. I would advise everyone to not waste money on attempting to cross coins from one third party grader to another, just to participate in a registry set website. At least PCGS always only allowed PCGS coins to be registered, but NGC sucked in PCGS participants only to apparently now require coins to be crossed or not available for sets..... I don't like it and I won't play that game. GoodBye NGC.

[brokencompass]

Since NGC has allowed PCGS coins in the past, it is way too much of a hazzle for people who have relied on NGC's broad-mindedness. When I first heard that NGC allowed PCGS coins, I was actually felt NGC was confident enough to be the better TPG. It is a big hazzle for people who have relied on NGC's previous policies.

 

But I do see NGC's problems too. Since they allow PCGS coins, everyone would choose to get their coins graded by PCGS so they can register their coins in both PCGS as well as NGC registries.

 

I think the best way would be to allow only registry sets with atleast 60% NGC coins as a ranking registry set. Every year this number could be increased by 10%. This number could gradually move up to 90% where it should be allowed to rest. This gives enough time for users to adapt to NGC's strategy change and still allow people having a few PCGS coins to still use their coins in the registry without having to cross over. Win-WIn.

[Jeffrey Cardona]

I think the best way would be to allow only registry sets with atleast 60% NGC coins as a ranking registry set. Every year this number could be increased by 10%. This number could gradually move up to 90% where it should be allowed to rest. This gives enough time for users to adapt to NGC's strategy change and still allow people having a few PCGS coins to still use their coins in the registry without having to cross over. Win-WIn.

 

That is some sound advice!

[jackson64]

Please visit any of my 6 #1 ranked world sets before Jan. 31st, 2012...after that all of my World Coin sets and even award winning Signature Set with PCGS world coins shall be removed...

 

.......total money grab and a ridiculous excuse. We're not fools-- this is all about crossover fees and cornering the World Certification market--this is why monopolies were seriously opposed by our founding fathers.

 

We've had a two-headed monopoly for quite a while with bullying policies like:

 

A) Adding new account levels and calling what used to be part of a standard membership a "Premium Account" and extra money for the same services.........

 

B) Ridiculous turn-around times. No other business or service company ( and in the end NGC is nothing more than a service industry like your car repair, rug cleaners, your Tuesday maid or oil change guy) would dare postpone delivery of your promised services for weeks and/or months with barely a posted notice-while they hold onto thousands of dollars worth of your possesions. Then they return your property to you at their convenience without even an apology, coupon or reimbursement ( and charge you shipping both ways to boot!--for higher than their postage costs !!)

 

C) The ridiculous money-grubbing label scheme. The very producers of the coins themselves- The US MINT !! has declared that there is no way to determine first strike and that actually, the way that the inventory is stacked after production before shipping- that the first minted coins are often the last shipped because they end up on the bottom of thre pile. Anniversary labels or special commem labels -fine ( but $20 extra bucks for a mass produced 1 1/2C piece of paper?)

 

I may be done with the whole registry--I'll miss so many of you whom I have gotten to know better than just your coin interests but the arrogance and ego of this. Not the discluding of PCGS coins, that really ticks me off and will lead me to removal of all world sets the day it is done...the ego and arrogance is in the ridiculous excuse. This is a blatant money-move and I for one am not naive enough to drink from this ladel of kool-aid.

 

The issue of PCGS differences in varieties is simple to address--NGC just recognizes their own and a PCGS coin can be used but not given variety attribution in the registry--simple--the coin would get the basic score of a non-variety. Or God forbid that NGC may actually just hire a $30K employee from the millions of unemployed and have that person handle the few instances of PCGS/NGC differences on world coins on a case by case basis.........maybe he can start training on grading in the meantime and cut the months of turnaround for those, "EARLYBIRD" submissions--( you know earlybird, it's when it takes 3x longer than the promised turnaround for the cheaper tier but they still keep your money !!).........

 

 

[mkman123]

I honestly think its a good move by NGC......seriously, PCGS registry doesn't even allow NGC coins on there so why should NGC allow PCGS coins?