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Non-Competitive Arbitrations by NGC. To me, it's "Horsefeathers".

Started by karl49,

8 posts in this topic

karl49

karl49

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Posted

WHAT DO YOU "AVERAGE" COLLECTORS THINK ?

I recently asked NGC about the sudden appearance of non-competitive slots throughout the official registry sets of Mexico Republic 8 Reales.  I had just bought at auction an MS63 1866 Culican 8 Reales, which among other prizes in my sets, now has a registry value of 1 point.  (I wonder why 1 point and not just zero ?)

NGC response is below.  What do you people think about this response?  I think it makes a mockery of the concept of competition.  I am a specialist in 8 Reales to be sure, so I am biased, but to me it makes little sense.  I can struggle and understand removing from competition coins of which only a handful are known in any grade and are largely in museums or the like.  But coins which appear in all grades in auctions with some frequency should not be excluded.

I do not understand some of the decisions.  There are still coins with registry values in the sets which are rarer and have lower population reports than some of those removed.  I guess maybe the search for the Lowest Common Denominator is still in progress?  I wonder if the Senior Numismatic teams has specialists in the series on which they pass judgement?

What say you?

 

Why have some 8 Reales of Republic of Mexico been designated as non-competitive, for display only?  This is surely a mistake?

Hello, Karl49.

Thank you for the inquiry. There are many factors involved when making the decision to mark a coin as non-competitive in an NGC Competitive Registry Set. These factors may include low mintage, difficulty in obtaining/purchasing the coin, and an unusually high price in relation to the other coins required to fill the set. These factors are considered when our senior numismatic team makes the decision, which is done on a coin by coin basis.

We aim to make 100% completion of any registry set attainable for our average collector. If a coin you own is marked as non-competitive, we do offer Custom NGC Registry sets as an option to display all of your coins

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Ali E.

Ali E.

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18 hours ago, karl49 said:

WHAT DO YOU "AVERAGE" COLLECTORS THINK ?

I recently asked NGC about the sudden appearance of non-competitive slots throughout the official registry sets of Mexico Republic 8 Reales.  I had just bought at auction an MS63 1866 Culican 8 Reales, which among other prizes in my sets, now has a registry value of 1 point.  (I wonder why 1 point and not just zero ?)

NGC response is below.  What do you people think about this response?  I think it makes a mockery of the concept of competition.  I am a specialist in 8 Reales to be sure, so I am biased, but to me it makes little sense.  I can struggle and understand removing from competition coins of which only a handful are known in any grade and are largely in museums or the like.  But coins which appear in all grades in auctions with some frequency should not be excluded.

I do not understand some of the decisions.  There are still coins with registry values in the sets which are rarer and have lower population reports than some of those removed.  I guess maybe the search for the Lowest Common Denominator is still in progress?  I wonder if the Senior Numismatic teams has specialists in the series on which they pass judgement?

What say you?

 

Why have some 8 Reales of Republic of Mexico been designated as non-competitive, for display only?  This is surely a mistake?

Hello, Karl49.

Thank you for the inquiry. There are many factors involved when making the decision to mark a coin as non-competitive in an NGC Competitive Registry Set. These factors may include low mintage, difficulty in obtaining/purchasing the coin, and an unusually high price in relation to the other coins required to fill the set. These factors are considered when our senior numismatic team makes the decision, which is done on a coin by coin basis.

We aim to make 100% completion of any registry set attainable for our average collector. If a coin you own is marked as non-competitive, we do offer Custom NGC Registry sets as an option to display all of your coins

Hello, Karl.

Thank you for the feedback. As we mentioned in the previous post, if you have a question about a specific coin, please send us the certification number, so we may look into it for you. Many of these 8R scores had not been assessed in quite some time. The disparity of the market prices in some of these 8R issues can be a determining factor in making certain coins non-competitive in the NGC Registry. For example, if many coins in a particular 8 Reales set average a cost of between $40-$200 per coin, and then one coin asks $6,100 in a similar grade, such as the 1866/4 DoCM, then we would mark the 1866/4 DoCM coin as "non-competitive." We are happy to address any concerns you have if you send us the specific coin in question. Further score adjustments may be necessary, and the updates are still in progress. You may reach us at registry@ngccoin.com.

Also, we see you have a 1866C CE SIX-POINTED STAR 8R coin that is MS 63. This coin currently has 3200 points in your Culiacan Mint 8R set. If you have another coin somewhere that is currently displaying 1 point for a score, please email us the cert. number, so we may make adjustments. Thank you.

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karl49

karl49

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Thanks for looking into this and for finding my mistake.  The coin to which I erroneously referred is not an 1866 C CE, but rather an 1866 Ca JG which has 1 point.  I will send you by email the certification numbers of that coin and several others of mine which I think should not have been devalued.

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karl49

karl49

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Well, I see that, in the last 24 hours, you have re-instated point values for most of the 8 reales which I possess and for which I was concerned. This includes the 1866 Ca which I had mentioned in the previous reply.   So, I will have no further future action on this matter.  Regards.

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Ali E.

Ali E.

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14 minutes ago, karl49 said:

Well, I see that, in the last 24 hours, you have re-instated point values for most of the 8 reales which I possess and for which I was concerned. This includes the 1866 Ca which I had mentioned in the previous reply.   So, I will have no further future action on this matter.  Regards.

Thank you, Karl.

Yesterday, we did some re-evaluations and restored most of the coins to competitive. If you have any questions or concerns, please let us know. Thank you for your support and interest.

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Ali E.

Ali E.

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Based upon customer feedback, further consideration, and research, we have decided to restore the handful of 8 Reales coins to "competitive." Thank you for the feedback in reference to these coins. Please let us know when we may assist in the future with the NGC Registry.

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Morpheus1967

Morpheus1967

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On 6/1/2018 at 1:29 PM, Mk123 said:

fast replies by NGC and a member is happy, glad to hear this!

I have found that if you have sound reasoning, NGC really listens to their customers.  Unlike some other grading company, where you would be lucky to even get a canned response a week later lol. 

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