NGC Launches Details Grading; Important Rarity Certified
Posted on 9/15/2009
On September 1, 2009, NGC launched its Details Grading program. All coins with detrimental surface conditions submitted to NGC for grading will be Details Graded. Under this service, each applicable coin is assigned a concise description of its surface condition and a Details Grade that accords with its level of wear. This service is provided automatically and at no additional charge.
NGC Details Graded coins can be readily identified by their distinctive purple labels. Like numerically graded coins, they are encapsulated in the NGC EdgeView® Holder, which is made from high-quality, preservation-grade materials. Furthermore, their authenticity is guaranteed under the terms of the NGC Coin Grading Guarantee. Coins that are not genuine or are of questionable authenticity are not graded and are returned uncertified. Additionally, coins that have active surface residues such as PVC are also not graded or encapsulated. Coins of this latter category can be made eligible for grading after professional conservation by NCS and harmful residues are removed.
NGC Details Graded coins are eligible for inclusion in Registry sets. In competitive sets, an NGC Details Graded coin will receive 50% of the point value assigned to a numerically graded coin with a similar level of wear.
Rick Montgomery, President of NGC, comments on this service launch: "This new offering from NGC allows collectors to have more coins certified by NGC than ever before, which is a great advantage for individuals completing sets. Additionally, Details Graded coins should provide comfort when buying or selling because of the complete information that appears on the certification label as well as the knowledge that the enclosed coin is guaranteed authentic."
During the first day of NGC Details Grading, an important rarity was certified using NGC Details Grading — an 1830 Templeton Reid $5 gold piece. From large deposits of gold found in Georgia and North Carolina, assayer Templeton Reid struck the first privately minted gold coins in the US. In 1830, Reid made gold coins in three denominations, all of which are very rare today. The example certified by NGC was graded XF Details, Repaired, Improperly Cleaned. While it exhibits repair in the fields, it is just one of four T. Reid five-dollar gold pieces available to collectors. Six examples are known and two reside in the Smithsonian’s National Numismatic Collection.
The anonymous collector who submitted this coin to NGC comments that, "an independent expert's opinion of condition and authenticity is very important to me, and for that reason all of my coins are certified. Details grading is of great benefit to collectors, not only for important rarities like this T. Reid $5, but for any coin that wouldn’t otherwise be graded and encapsulated."
Comprehensive information about NGC Details Grading, including a Service Guide available for download, can be found on NGC’s website at www.NGCcoin.com/details. Additional questions can be directed to NGC Customer Service using the contact form.