Impatience

Started by markn, November 17, 2012, 08:53:18 AM

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Fr45h3R

QuoteLet’s face the facts PCGS and NGC are basically there to grade US coins.
Both PCGS and NGC have multiple offices around the world. I myself would welcome either to Australia and would be even more impressed by the services offered if the graders were Australians.

I know a number of the members here submit coins to PCGS for grading.
Some sell these coins on Auction (ebay / numisbid / quicksales) or through their websites.
Many have been submitting coins for many years.
One day they might even tell us of the number of coins that returned with a details grading.
The efforts of these same people have helped build the numbers in the population reports that both PCGS and NGC maintain.
To me, these numbers paint an excellent picture of the availability of Australian coins, both slabbed, and raw.
It gives me the opportunity to price a coin on availability in conjunction with the prices in the catalog. In my opinion, some coins offer great value for prices above what the catalog may show.

I'll admit up front. I'm not comfortable / competent in grading coins. I am still a novice coin collector. I don't have the years of experience behind me in grading coins like some other members do, and it is for this reason I lean towards purchasing PCGS graded coins, and also trust PCGS to grade my raw coins.

echidna

Still waiting on 20 x pre-decimal.
65 days - haven't heard anything.
Wonder what the record is ?
I agree with the comments about an Aussie grading service.

purplepennyhunter

65 days is insane. I was hoping soon but maybe I shouldn't hold my breath.
Co-Founder Australian Coin Forum

markn

Quote from: 'Fr45h3R' pid='4885' dateline='1356096271'
QuoteLet’s face the facts PCGS and NGC are basically there to grade US coins.
One day they might even tell us of the number of coins that returned with a details grading.
The efforts of these same people have helped build the numbers in the population reports that both PCGS and NGC maintain.
To me, these numbers paint an excellent picture of the availability of Australian coins, both slabbed, and raw.

In the time that we've been submitting coins we've had 17 coins come back with details grading.  4 of these were Australian, 13 were world coins. Our grading failure rate for Australian coins is well under 1%.  World coins (and this is entirely my fault) is much higher than that.  I need to stop sending in Brazilian 960R's, which account for 9 of the 13 world no grades.
Founder: Australian Coin Forum
The Australian Coin Collecting Blog

Fr45h3R

QuoteIn the time that we've been submitting coins we've had 17 coins come back with details grading. 4 of these were Australian, 13 were world coins. Our grading failure rate for Australian coins is well under 1%. World coins (and this is entirely my fault) is much higher than that. I need to stop sending in Brazilian 960R's, which account for 9 of the 13 world no grades.

Thanks for the reply Markn. Those are great results.
I found this the other day as well http://www.pcgs.com/statistics/
I was looking at some public submissions a while back and was surprised at the number of 'details' gradings in some of them.

markn

Quote from: 'Fr45h3R' pid='5181' dateline='1356650809'I was looking at some public submissions a while back and was surprised at the number of 'details' gradings in some of them.

I'm not.  It's amazing how many so called professionals in Australia are unable to to pick a cleaned coin.  Perhaps I should substitute "unable" with "unwilling".  One of the key advantages of TPG coins (PCGS/NGC/ANACS) is their complete impartiality when it comes to altered coins.  If they believe a coin is altered beyond whatever standards they apply then they call it as such.  Any dealer who self-grades cannot help but be influenced by the commercial reality of needing to sell a clearly altered coin.  This influence is even greater when it comes to high value coins.
Founder: Australian Coin Forum
The Australian Coin Collecting Blog

trout

Quote from: 'markn' pid='5186' dateline='1356652147'
Quote from: 'Fr45h3R' pid='5181' dateline='1356650809'I was looking at some public submissions a while back and was surprised at the number of 'details' gradings in some of them.

I'm not.  It's amazing how many so called professionals in Australia are unable to to pick a cleaned coin.  Perhaps I should substitute "unable" with "unwilling".  One of the key advantages of TPG coins (PCGS/NGC/ANACS) is their complete impartiality when it comes to altered coins.  If they believe a coin is altered beyond whatever standards they apply then they call it as such.  Any dealer who self-grades cannot help but be influenced by the commercial reality of needing to sell a clearly altered coin.  This influence is even greater when it comes to high value coins.

I think that even most Amateur collectors can spot a cleaned or dipped coin, so why would a professional dealer send in a coin that is questionable.
Unless it is in an attempt to slip through the cracks and get a coin with details graded.
I would consider this to be a waste of time, money and effort and if sucsessfull highly questionable behviour :dodgy:
Aim well to enjoy life. You only get One shot at it.
Illegitimi non carborundum

markn

QuoteI think that even most Amateur collectors can spot a cleaned or dipped coin, so why would a professional dealer send in a coin that is questionable.

I wouldn't think that all efforts to send in cleaned coins by dealers are devious.  Some of them just plain cannot pick a coin that PCGS will details grade.
Founder: Australian Coin Forum
The Australian Coin Collecting Blog

echidna

About 55 working days (84 calendar) and no word from PCGS about my submission of pre-decimal.
Some were regular which should have gone through in 21 according to their website.
Very disappointing for "the industry standard".

markn

Quote from: 'echidna' pid='6302' dateline='1358171486'About 55 working days (84 calendar) and no word from PCGS about my submission of pre-decimal.
Some were regular which should have gone through in 21 according to their website.
Very disappointing for "the industry standard".

We're almost up to 90 calendar days too.  I've stopped counting working days.
Founder: Australian Coin Forum
The Australian Coin Collecting Blog

purplepennyhunter

I've stopped looking, I don't even remember what was in the submission now. We sent another world economy a month later so maybe that will be back by Christmas.
Someone we know who sent a bulk submission way after these submissions already has theirs back. I don't understand how a bulk can be done in record time.
Co-Founder Australian Coin Forum

markn

Woot.  We have grades.  Almost 3 months to the day.  Some good ones too.  PPH will be thrilled when she gets up and finds out!
Founder: Australian Coin Forum
The Australian Coin Collecting Blog

emu666

Quote from: 'purplepennyhunter' pid='6305' dateline='1358198147'.......
Someone we know who sent a bulk submission way after these submissions already has theirs back. I don't understand how a bulk can be done in record time.

Because they like me.

echidna

Quote from: 'purplepennyhunter' pid='5159' dateline='1356641180'65 days is insane. I was hoping soon but maybe I shouldn't hold my breath.

Now 100 (calendar) days and still waiting...

purplepennyhunter

That's insane. Something is seriously going on there. I'm told submissions received early October were done very quickly and it looks like they've done very little since then. Ours were done a 17/1 checked in 22/10, but awaiting another checked in 19/11 -I won't hold my breath.

I hope that when you do get your grades that your coins have done well.
Co-Founder Australian Coin Forum