SURVEY: WHO has/will go back to Anacs for Coin Grading?

[ChiBitCTy]

Is there really any way that these two companies revenues have not being going down at least a little over the past few years?  A struggling collector hobby which is rapidly loosing it's main customer base. Which should be telling when in the past decade the world's economies have mostly been booming.

Just FYI, I've been an investor in CLCT for a while now, which is the PCGS company, and their stock price has tanked as of late and they cut their dividend in half recently.  They're in trouble.  So my opinion is that it absolutely would not hurt for them to be approached by the crypto coin community to see about grading some of these great tokens (that's the difference in their eyes, these are not "coins").  I'm actually kind of surprised that they haven't jumped on board with this yet.  Usually if a competitor is making money from something, a la ANACS, a company will follow suit.

As I said, I'm not part of this community.  Have either PCGS or NGC issued any kind of guidance regarding this?  Has anyone approached them?

Wow- I always just assumed they were private like NGC.  They absolutely got hammered in early Feb.  I'd say branching in to other sectors WITHIN their playing field could and would make a lot of sense.  I've not seen anyone say they've had any sort of serious dialog with either company.

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[Lesbian Cow]

You make some great points. Unfortunately PCGS and NGC are not interested as the risk vs reward is not favorable. 

Is there really any way that these two companies revenues have not being going down at least a little over the past few years?  A struggling collector hobby which is rapidly loosing it's main customer base. Which should be telling when in the past decade the world's economies have mostly been booming.

Just FYI, I've been an investor in CLCT for a while now, which is the PCGS company, and their stock price has tanked as of late and they cut their dividend in half recently.  They're in trouble.  So my opinion is that it absolutely would not hurt for them to be approached by the crypto coin community to see about grading some of these great tokens (that's the difference in their eyes, these are not "coins").  I'm actually kind of surprised that they haven't jumped on board with this yet.  Usually if a competitor is making money from something, a la ANACS, a company will follow suit.

As I said, I'm not part of this community.  Have either PCGS or NGC issued any kind of guidance regarding this?  Has anyone approached them?

I'd say branching in to other sectors WITHIN their playing field could and would make a lot of sense. 

That's what I'm saying, but I have to profess ignorance as to whether anyone has requested they start grading physical crypto yet.  And I'd find it hard to believe that they'd be unaware of the existence of these fine pieces of exonumia, since these people specialize in coins and, I would presume, know a little something about tokens--AND that they would at least keep an eye on what ANACS is doing.  My guess is that they see it as a small market and have their hands full already, grading the yearly silver eagles and other bullion products by the thousands.

I'd be curious to know how many total crypto coins you guys have sent to ANACS per year and whether there would be enough demand in their eyes.  Grabbing less than 100% of a what's already a small market might not be worth it to PCGS or NGC.

[The Sceptical Chymist]

You make some great points. Unfortunately PCGS and NGC are not interested as the risk vs reward is not favorable. 

What's the risk, if I might ask?  I get that the reward might be pretty small, but I'm not seeing how grading crypto tokens is risky, at least any more so than traditional coins.

[Lesbian Cow]

You make some great points. Unfortunately PCGS and NGC are not interested as the risk vs reward is not favorable.  

What's the risk, if I might ask?  I get that the reward might be pretty small, but I'm not seeing how grading crypto tokens is risky, at least any more so than traditional coins.

Both NGC and pcgs guarantee the authenticity of the coins they grade.  If you buy a coin in one of their slabs and it turns out to be fake they pay you the market value of the coin as if it was real.   That  would be most unfortunate  for them if a seiries of loaded coins were swept after they graded them.

[digicoinuser]

You make some great points. Unfortunately PCGS and NGC are not interested as the risk vs reward is not favorable.  

What's the risk, if I might ask?  I get that the reward might be pretty small, but I'm not seeing how grading crypto tokens is risky, at least any more so than traditional coins.

Both NGC and pcgs guarantee the authenticity of the coins they grade.  If you buy a coin in one of their slabs and it turns out to be fake they pay you the market value of the coin as if it was real.   That  would be most unfortunate  for them if a seiries of loaded coins were swept after they graded them.

I'm not sure this would be the case for loaded Crypto but it would definitely be nice.  

On a side note - I've seen USPS registered mail being touted as up to 50k USD of insurance available.  Has anyone claimed and received compensation for a lost registered mail shipment that had loaded value?  I've seen some information on the web that makes me think USPS would NEVER pay out an insurance claim for a loaded value for a Crypto related coin which is why I ask.

[Lesbian Cow]

You make some great points. Unfortunately PCGS and NGC are not interested as the risk vs reward is not favorable.  

What's the risk, if I might ask?  I get that the reward might be pretty small, but I'm not seeing how grading crypto tokens is risky, at least any more so than traditional coins.

Both NGC and pcgs guarantee the authenticity of the coins they grade.  If you buy a coin in one of their slabs and it turns out to be fake they pay you the market value of the coin as if it was real.   That  would be most unfortunate  for them if a seiries of loaded coins were swept after they graded them.

I'm not sure this would be the case for loaded Crypto but it would definitely be nice.  

On a side note - I've seen USPS registered mail being touted as up to 50k USD of insurance available.  Has anyone claimed and received compensation for a lost registered mail shipment that had loaded value?  I've seen some information on the web that makes me think USPS would NEVER pay out an insurance claim for a loaded value for a Crypto related coin which is why I ask.

I do registered quite a bit for Casascius coins and other high value items. Never had to make a claim as they seemingly rarely get lost.  That said, I would never try to claim loaded crypto value as I agree that would be a very difficult battle.  I always make sure my package weighs enough that i can claim there were X ounces of gold in the package and that is equal to the actual value of what was in the package.  I have legitimate invoices for gold purchases.

[ChiBitCTy]

You make some great points. Unfortunately PCGS and NGC are not interested as the risk vs reward is not favorable.  

What's the risk, if I might ask?  I get that the reward might be pretty small, but I'm not seeing how grading crypto tokens is risky, at least any more so than traditional coins.

Both NGC and pcgs guarantee the authenticity of the coins they grade.  If you buy a coin in one of their slabs and it turns out to be fake they pay you the market value of the coin as if it was real.   That  would be most unfortunate  for them if a seiries of loaded coins were swept after they graded them.

Right, but as you pointed out yourself they don’t guarantee the authenticity of denarius coins..why couldn’t it be the same where it’s a sub sector simply with a different set of rules? We also have to remember they charge more than ANACS & who’s to say the couldn’t tack on a little extra “crypto” fee..I’d be okay with that if reasonable. If they don’t seriously consider it they’re fools. In today’s world businesses are constantly branching in to new sectors that have nothing to do with their core business. That isn’t even the case here. It makes too much sense to me.

[Lesbian Cow]

You make some great points. Unfortunately PCGS and NGC are not interested as the risk vs reward is not favorable.  

What's the risk, if I might ask?  I get that the reward might be pretty small, but I'm not seeing how grading crypto tokens is risky, at least any more so than traditional coins.

Both NGC and pcgs guarantee the authenticity of the coins they grade.  If you buy a coin in one of their slabs and it turns out to be fake they pay you the market value of the coin as if it was real.   That  would be most unfortunate  for them if a seiries of loaded coins were swept after they graded them.

Right, but as you pointed out yourself they don’t guarantee the authenticity of denarius coins..why couldn’t it be the same where it’s a sub sector simply with a different set of rules? We also have to remember they charge more than ANACS & who’s to say the couldn’t tack on a little extra “crypto” fee..I’d be okay with that if reasonable. If they don’t seriously consider it they’re fools. In today’s world businesses are constantly branching in to new sectors that have nothing to do with their core business. That isn’t even the case here. It makes too much sense to me.

Hmmm, you make a very valid point.  I spoke with NGC about this in December, I send a small amount of coins to them for grading on a regular basis, and that is what they told me.  Perhaps the volume is not enough to interest them?  Companies like MCM send them 100,000 plus coins per year for grading, we are small potatoes to have to set up a new process for.

[Fattcatt]

It still might be worth someone asking. Is there anyone who does a fair amount of business with them, that could ask?