Find Out How NGC Is Taking Steps To Help Rare Coin Investors Directly At Rare-Coin.org
February 24, 2010 – Rare coins represent a large and important part of gold investing. These pieces can bring great value to their owners because of their age, quality, historical significance and scarcity; they can also bring people who want to cheat you out of the value of these unique coins. For this reason, the Numismatic Guarantty Corporation helps to protect investors who buy and sell rare and collectable coins.
NGC stands for Numismatic Guaranty Corporation; the company has been in business for more than twenty years and has developed a great reputation for helping determine the value of collector’s coins. "We are the referees on the playing field of numismatics," said Rick Montgomery, president of Numismatic Guaranty Corporation. "I urge consumers to purchase only certified coins from reputable grading companies ... The best protection is buying certified."
NGC evaluates coins based on the 70-point Sheldon Scale, a precise method for determining the actual grade, and in turn, the expected value of a rare coin. Thanks to this system, a 1797 Draped Bust Quarter Eagle with a grade of MS-62 is known to have a current value of about $200,000, giving the investors great confidence in the coin.
Serious rare coin investors realize that this is an important part of investing in collector’s coins. Said Brent Bullock, a gold coin dealer in Ocala, Florida, “I can't believe people would mail a valuable asset to an unknown entity when they can visit a local dealer." However, it is widely known that national broker dealers do tend to offer better prices and service than most local outfits. The same logic applies when dealing withNGC certified coins instead of a lower-reliability certification entity.
For rare coin investors, profit and loss is decided by the quality of the coins they own. Certification by companies like NGC and PCGS helps to ensure coin quality and enabling investors to buy and sell coins with known values, helping to maximize their profits.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
