NGC Is Starting A New Coin Grading Scale 1-10 !! Called NGCX

NGC Is Starting A New Coin Grading Scale 1-10 !! Called NGCX
CoinHelpu Community

[CoinHELPu]

NGC Is Starting A New Coin Grading Scale 1-10 !! Called NGCX
CoinHelpu Community

[TheSteveBoyd]

I got this email last night! My 1st reaction was "Is this a joke?"
I honestly think this will backfire. It's a little on-the-nose bad corporate marketing in my opinion. I can almost picture the fat cats up in their big boardrooms. "Just dumb it down to 10, because Gen-Z can't count past there. Oh, and put an X on the end - it's X-TREME, my boy! The youths will eat it up, or my name isn't Beauregard J. Moneybags the Fourth!" It seems a little insulting to people's intelligence, honestly. I think PCGS is laughing at them right now. Of course, I'm often wrong about these kinds of things...

[cosmovet]

NGC is crazy. Its been a grading system to 70 as long as I can remember

[haydenbeach]

As a younger collector I've never really had any problems with the PO1 to MS70 scale, and I do see how it can be confusing. But this is several steps in the wrong direction. Coins unlike baseball cards go through circulation baseball cards don't, and because of that they don't really need a high grading scale but coins can do. And some coins change hundreds of dollars from grade to grade. I don't know maybe NCG will grade baseball cards lol.

[louieatienza]

Few issues... First, it's only useful for grades 9.0 to 10.0 which correspond with MS60-MS70. Second, the general public cannot submit coins for NGC-X grading; only certain dealers, which leads folks to speculate these are geared for telemarketers to offload otherwise common coins. Third, regardless of NGC's claims of compatibility with the Sheldon scale, the coins are NOT registry compatible - they would need to create a separate registry. Finally, which I fear the most, this will eventually expand to circulated coins, where the scale is way off.

For example, if you took the halfway point of the Sheldon scale, VF35, that coin would have about 85% of its original detail still left on the coin. If you take an NGC-X graded coin at 5.0, that equates to VF25 roughly which is less than 75% of a coin's original detail. One can see how a seller could "exploit" this to sell lesser coins at a higher price. Again, this shouldn't apply to 1982-date coins (which should almost exclusively be in the 9.5-10 range, ) but I see them eventually rolling this out to circulated early coins for "type set" collectors. Imagine buying a bust half graded 5.0, then find out it's really VF25.

Also, technically 9.0 in sports cards is Near Mint, despite what they put on the slabs, because 9.0 allows for slight wear, which would equate to AU in coins.

The telling thing about this is that they are not compatible with the current registry sets. If the grades were indeed compatible with the Sheldon scale, it shouldn't be hard for them to "translate" the grades and allow them in current registry sets. That in my book takes a lot of the credibility of the system away.

[georgematthews]

Good Afternoon Daniel!!🥤 I don't have a strong dislike for it, especially if it would be like going from first grade math as a starter to higher math (1-70) with learning and experience.
I am not in favor of dumbing down instead of teaching up. I had no idea what coin grading was as we have known it before getting into the hobby. But I enjoyed learning it as part of the hobby.

[silvadelshaladin]

Looking deeply into the page, I don't like it. It values strike far more than defects in the "ms" grades, an average struck coin being relegated to 9.2. It also doesn't match up at any point really with the regular scale. You can't look at the chart and really pick where a VF-25 coin would be(my guess being 6.5?) If anything it complicates things because there will be two systems where things do not sync. There will be MS 64 coins that can get a 9.5 and MS 65 coins that would get a 9.3. People will submit for the overgrade numerically.

[resipsa]

Great news and decades overdue. In time it will bring a boom to the hobby…

[TechnMoto]

Personally I don’t see how changing a grading scale will get more folks into coin collecting. You either like collecting stuff or you don’t and most folks today are not into collecting. Same is happening with motorcycles. Folks want their phones and social media. But hey what do I know 😊

[scotts]

I called NGC and they told me the new system is ONLY available to select retailers. So us peons have to use the old system. So the question I have, is will the retailers charge "extra" for the new system? Also, will people be willing to pay the price for it? I guess time will tell.

[markd.songsandstuff]

You keep pumping out good informative videos!! Thanks. CGC is part of NGC. CGC has been grading comic books, sports cards, etc since about 2000 using the 10 point system. I have a few graded Stan Lee signed comic books in CGC plastic holders. I don't mind them starting a 10 point system with coins too.

[barfrockskin]

In my opinion, it only makes the waters of the coin grading system more murky and complex. As a long time collector of nearly 60 years, I don't really like it.

[tedsmith]

Hello from the great state of Michigan

[murtasma]

I'm a new collector - I don't think this will help - it will just confuse people more - especially new collectors. Looks like it's only going to be for a small portion of coins as well and select retailers so it probably won't even been noticed by the majority of people. I think this is just marketing ploy to generate hyper. I got into collecting for the history and rarity - not because something has a grade associated with it. I think having a larger grading scale makes more sense - it allows things to be graded more accurately. Having a scale 1 - 10 is too general - I think it's even too small for comic books and other collectables. The max grade of 70 is weird for coins. I wish it went from 1 - 100 instead.

[justinhughes]

I read this will be for newer coins from 1982 till now. New generation, new idea?. All other regular NGC submissions will still get the MS/PF 70 scale.
I guess once CAC jumped ship they decided they needed a new angle also.

[WilliamTRussell-bhnv]

I've said this on other coins sites, hope you don't mind me repeating here: Regardless of an assigned number, coins are bought and sold with eye appeal. CAC awarded coins hold some truth to what I am saying. Maybe NGCX coins should incorporate additional factors like eye appeal. Nothing worse than a high- grade coin that is ugly. Will toning be a component, will a cleaned coin be given a grade? Maybe overhauling the numeric portion is a good start.

[carlmohr]

The old fogeys (me included) aren't going to like it. Veteran collectors want a more accurate grading scale. They want to know if it's a 67+ or a 68. You can't get that accuracy with a 1-10 scale. Thanks for the info!

[spooderdoggy]

Does this mean the end for the 1 to 70 scale for everyone? As much as I like NGC, they are still 2nd to PCGS. I would think the latter would be more influential in instituting this change. Also, does this mean NGC, for themselves, stops the traditional scale and throws it out the window completely? Do we have a choice between the two sending a coin to NGC? We will see.

[rogerod]

It's a tough change for me to swallow. I guess with modern coins I could go for it, but I wonder which would sell for more a new 10 or a 70 graded coin? I think you hit it on the nose with the comparison of this with the new coke. I don't feel it would last but I'm willing to try it out. Thank you for your time!

[Lamplighter]

The press release calls it "A path to growth for coin collecting, " but the biggest issue "holding back" coin collecting is that the United States Mint has no freedom to issue coins with interesting designs unless they're explicitly authorized by legislation. Let the Mint issue PRECIOUS METAL (silver in the 0.1 - 1 ounce range) coins WITH LOW PREMIUMS under an easier design approval process and the hobby will be get a lot hotter.