NGC to Grade Japan Ministry of Finance Coins in Holders of Issue
Posted on 5/9/2006
NGC is now offering certification for gold coins being auctioned by the Ministry of Finance of Japan. In order to preserve the unique heritage and pedigree, NGC will grade these coins while still sealed within their original holders of issue. A tamper-evident label and holograms will then be applied to the holder. NGC offers a similar program for Silver Dollars sold by the U.S. General Services Administration (GSA) in a series of auctions held between 1973 and 1980. These coins are currently being sold by the Japanese government in a series of auctions which began in October of 2005 and will continue into 2007. The sales include over 30,000 gold coins struck between 1870 and 1930 of 5, 10, and 20 Yen denominations.
Each of the coins being sold has been encapsulated by the Ministry in a rigid plastic holder with a red core, and bears a unique serial number which corresponds to its plate and lot number in their full-color auction catalogues. The original tags will remain visible following certification and labeling by NGC, as NGC's certificates will be attached to the opposite side of the holders, beneath the coins' obverses. This service assures that these coins' special pedigree will remain available to collectors for posterity.
"We believe there will be considerable demand for this service, owing to the popularity of NGC's grading standard among collectors of world coins, combined with the unique provenance of these coins. This certification product makes these coins more accessible and desirable in both the American and Japanese marketplaces, and we are very proud to meet this demand in both markets," comments NGC's CEO, Steven Eichenbaum.
Ken Krah, Vice President of NGC and among the foremost experts of world coins in the U.S., comments, "Only very rarely do we see a matched group of high-quality Japanese coins with original mint luster and surfaces. That's what makes these sales such a special opportunity for collectors, and we are extremely excited to assist them by offering certification for these coins in their original holders."
NGC will provide the same information that it does for its normal grading services, but these coins will also be labeled with their Meiji, Taisho, and Showa dates in addition to their Common Era years. This information will appear on a tamper-evident label beneath the obverse of the coin. Holographic wraps will also be placed around the top and bottom of the rigid Japan Ministry of Finance holder. This feature will serve to discourage opening of the holder but, because these coins are not in NGC holders, NGC cannot guarantee the grades it applies to these Japan Ministry of Finance coins.
For the time being, these grades will also be excluded from the NGC Census Report, though this policy will change in the future as more coins are graded. These coins will be immediately eligible for inclusion in the Signature Set categories of the NGC Registry, and competitive sets are planned for future release.
This service became available on May 1, 2006, and coins can be submitted under World teirs at regular pricing for normal turnaround times. Japan Ministry of Finance coins should be submitted on their own submission invoice without coins requiring any other services. Five or more coins valued under $1,000 can be submitted under NGC's World Gold tier with a five day turn-around for just $21 per coin. Coins valued over $1,000 must be sent under the World Standard or Express tiers, depending on their value. NGC Customer Service should be contacted with all submission inquiries at 1-800-NGC-COIN or by e-mail at Service@NGCcoin.com.
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