Rare Coin Grading Set For Major Changes
Tuesday, March 23rd, 2010The basic model of rare coin grading for the two largest grading services, Professional Coin Grading Service and Numismatic Guaranty Corp., has remained the same since the firms were started in 1986 and 1987, respectively.
But some major changes could soon change the way rare coins are graded.
PCGS- and NGC-graded coins have the most fluid marketability in both sight-seen (meaning dealers can view the coins before buying) and sight-unseen (dealers choose to accept a coin in a holder at a given grade) markets.
PCGS has been claiming that on March 25 it will announce “the big one” – a new concept for its grading services that company officials have called the “next step” that is “going to change coin grading for the better” and “will totally revolutionize the coin grading business.”
PCGS slabs especially have been the target of Chinese counterfeiters producing fake slabs housing fake coins. The counterfeiters duplicate the unique certification number for a genuine PCGS slab, adding to the deceptiveness.
As Chinese counterfeiters improve their skills, and in the absence of any government intervention to stop the flow of counterfeits into the country, the grading services are learning and adjusting to protect the integrity of their slabs, safeguard the rare coin collecting hobby, and protect their revenue sources.
Shawn Penny

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