TPG "gem" designations

[JIM F.]

I see that both ngc and pcgs have a gem designation without a numerical grade for both ms and proof coins.  Can someone please explain the point of this and the pros and cons as opposed to numerical designations.  Thanks 

[physics-fan3.14]

Sometimes, dealers will have a huge number of similar coins to submit (a thousand Morgans, or something like that). They get a reduced bulk discount price, and sometimes they can choose to only put numerical grades for coins above a certain grade. 

I haven't seen "gem", usually it is "Uncirculated" or "Brilliant Uncirculated", which corresponds to about MS-63. 

Do you have a picture of one with a "gem" designation (which usually means 65)? 

[JIM F.]

I found this info on a dealer's website: "July 24,2017: Here's the story. A dealer friend of ours recently admitted to purchasing 500 of these hot 2017-S Congratulations Sets when they were first offered this year. All 500 were sent to NGC for slabbing. But rather than grade all 500, he decided that 250 of these should be holdered as Gem Proofs without a number grade. He told us that the fact that only 74,000 (about) coins exist, anything in a slab would bring big money. So he had half of his purchases graded Gem Proof. He also felt that slabs would protect the coin better. We agreed and therefore bought his 250 coins for our customers with a unique presentation: You'll receive the slab plus the empty OGP set of the coin - an offer not available from other dealers."

I still don't see a reason for the non numerical grade though.

[physics-fan3.14]

That's a really good story.

The actual story is just like I mentioned in my earlier post - the submitter sent them 500 coins and told them to only put numbers on the 69's and 70's (most likely). Anything that didn't make 69 or 70 would be slabbed without a number for a significant discount. 

[Conder101]

Like Physics said, just a story.  If he really thought anything in a slab would be valuable, why deliberately forgo the grading and tell them to only grade half of them?  There could be some very valuable 70's in the half you told them not to grade.  So instead you do like Physics said and have them look at all of them but only slab with a grade the 69's and 70's.  Anything without a numerical grade is an also ran.

[coinman1794]

On 3/4/2018 at 2:32 PM, jimbucks said:

I found this info on a dealer's website: "July 24,2017: Here's the story. A dealer friend of ours recently admitted to purchasing 500 of these hot 2017-S Congratulations Sets when they were first offered this year. All 500 were sent to NGC for slabbing. But rather than grade all 500, he decided that 250 of these should be holdered as Gem Proofs without a number grade. He told us that the fact that only 74,000 (about) coins exist, anything in a slab would bring big money. So he had half of his purchases graded Gem Proof. He also felt that slabs would protect the coin better. We agreed and therefore bought his 250 coins for our customers with a unique presentation: You'll receive the slab plus the empty OGP set of the coin - an offer not available from other dealers."

I still don't see a reason for the non numerical grade though.

In this case, it is very hard to get one of these below a 68 and 69s, and 70s are the premium grade. It was probably smart to dress up the non-70 coins up with a special label, as the numerical grade of a non-70 does not affect the price much.

[coinman1794]

[Six Mile Rick]

Beware of all labels with no grades. They aren't graded properly for a selling point stand of reason.