I decided to attend the PNG meeting this year. It was a luncheon prior to the show opening. About half way through I excused myself to take a call. When I came back, the podium was yielded to a PNG member that said they are starting a service to affix a P.Q. sticker to a coin. The purpose is to give marketers a confidence boost so more coins stick with customers.
For the most part, silver will be white, gold bright etc…. I raised my hand and said that the PNG should be educating people on coins with original surfaces that have character and appeal. No two pieces are exactly alike. PCGS started this white is right concept. Take the path of least resistance, why educate? Then I get back in the office and speak to a customer over the phone about the PNG P.Q. sticker. Then I receive an e-mail from the PNG stating that full time PNG members can have the first 25 coins viewed for a sticker for free! I e-mail back and say that this is a sham and a sellout. It is ripe for abuse and gives a marketer the chance to say the coins are endorsed by the PNG. No price controls, no concern about being misused…just get coins off of the market. The PNG director responded and said that PNG is not endorsing it. They are informing members of the program. I guess I’m confused about what an endorsement is? Speak at our meeting…troll for using the product to the membership…but it’s not an endorsement. I asked that the PNG walk away from this. If and when people are abused, it will be a black eye that we do not need. I surmise that it is an attempt to copy CAC and since we are all getting older, maybe it is an attempt to feed at the trough one more time. Maybe I’ll ask PNG to announce our Christian Coin Dealer meetings at the show and see what happens!
The show itself was a great selling show. We went with 5 double row boxes and were only able to set up with two. We sold three boxes to dealers that are starving for original coins. The compliments we received on the quality of our coins from virtually everyone that looked was over the top and appreciated.
PCGS announced a new in-holder review program. They will look at a coin for re-grade and you can save the old green holder or small blue one, unless they upgrade it! They also are launching a new anti-counterfeit holder. It’s a shame we used to only have to worry about counterfeit coins!
Years ago, I sold a client a raw 1887 Seated Quarter in gem. I sent it in for him and PCGS graded is MS-65. The client decided to CAC the coin. I said it’s a lock gold sticker. It went to CAC and green stickered. The client was disappointed and decided to sell it to me for a price close to 66 money. I cracked it and sent it to PCGS, it 66’d. Then I sent it to CAC and it received a green sticker. We sold it last year and I saw it recently in a PCGS 67 holder with a green CAC sticker! MS-66 was the correct grade but original beautiful coins can sometimes get a huge benefit of the doubt. Stick with the real thing…not the commercial white non-character coins.