Posted: 1/18/2012 2:53:44 AM |
Is NGC taking a step in the wrong direction by making World Coin sets NGC exclusive?
Over the last year or two, NGC has greatly enhanced the coin registry to allow for expanded ways to manage your entire coin collection (NGC or not), which is part of the reason I was all the more surprised to read the announcement in NGC's most recently emailed newsletter which indicated that effective January 31st of this year, World Coin Registry Sets will become NGC Exclusive.
A link to NGC's announcement is here:
I found this announcement curious for several reasons, and I was curious how others in the group feel about it, that is, if anyone even noticed it.
Now, admittedly, I only have a handful of coins which are even in sets which are "in the running" for competitive World Coin sets and which are graded by PCGS which will apparently "fall out" of my sets effective January 31st of 2012. So, at the most I might drop from number 4 to number 5 or something, in a few categories.
I did notice, however, that a number of "Best in Category" World Coin set winners from 2006-2011 in various countries and categories had PCGS coins contributing to their "Best in Category" status, and that quite a few #2 or #3 placing sets either had (or didn't have) PCGS graded coins in their World Coin sets in the same categories. Therefore, I thought it rather sad that JUST AFTER Registry Set winners were announced and awarded for 2011, barely a month later, winners may drop because coins in their sets may no longer count, and #2 or #3 sets may either also drop, or MAY RISE TO #1 just by virtue of having, or NOT HAVING as the case may be, PCGS graded goins in their sets.
I've never thought of PCGS of anything but a "first tier" grading service, just like NGC. I've also considered coins graded by PCGS of equal value and quality to those of NGC, which is another reason I found the announcement by NGC surprising.
I also found it surprising that NGC would take this stance, considering the following information I found on PCGS' web site:
PCGS Secure Plus Now Includes FREE, High-Quality Images
"PCGS Secure Plus is the most reliable protection you can give your coins. With the PCGS Secure PlusT service, each coin (both sides) is laser scanned, imaged, and registered into the Secure Plus data base. A metallic analysis can also be performed to help detect counterfeit or altered coins. If a coin has been tampered with, it will be revealed. And now, high-quality images of all coins submitted under Secure Plus are available under Cert Verification on the PCGS website, free of charge."
PCGS Secure Plus Now Includes all Service Levels
PCGS has expanded our successful PCGS Secure PlusT Program to include all current service levels. Secure Plus Service is only available for coins submitted under Grading and Regrading submission types (no crossovers). This includes Modern for $20 per coin, Mint Errors at $65 per coin, Special Issues at $65 per coin and Show Economy at $75 per coin (5-coin minimum). These changes go into effect immediately.
And then especially when I read this:
Important New Non-U.S. (World) Coin Requirements
Effective November 15, 2011, all non-U.S. coins dated prior to 1955 will be REQUIRED to go through our PCGS Secure PlusT Service. Coins minted after 1955 with a declared value of less than $1,000 are eligible for our Regular Modern service level (this includes Chinese coins as well).
PCGS Secure Plus is a new, patent-pending service we consider to be the industry's most significant advancement in consumer protection since the introduction of third-party grading in 1986.
Released after two years of extensive testing in partnership with Coinsecure, Inc. of Palo Alto, California, the PCGS Secure Plus system digitally captures the unique "fingerprint" of each coin, and enters it into a permanent data base. Neither the coin's appearance nor its grade can be changed without flagging the system. If any previously registered coin has been artificially toned, puttied or processed in some other way in an effort to get a higher grade, it will automatically be detected.
With such an impressive and aggressive effort on fraud detection by PCGS, I wonder why NGC wouldn't see fit to continue to recognize PCGS graded coins in the World Coin Registry Sets as of January 31st? It leaves me more than a bit nonplussed.
Is it just me?
I welcome private replies of course, though I am curious to see responses from those who are most impacted by the change.
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