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I recently wrote a letter to NGC regarding the latest money grabbing technique;
MY Dear Sir or Madam,
I frankly don’t care about plus or minus, maybe it’s a good idea maybe not, I personally think the grading system should be on a 1-100 scale. Just like anything else purely decimal like the coins themselves. That way if you have a coin that is an MS 88 you absolutely know what you are getting a high end B+ coin. On another note there is no such thing as a RED Lincoln cent, I have never seen one, I have seen orangish and reddish but never RED. Maybe you should come up with another color coding scheme too? This whole idea is crazy, except if you are after money that is. To have to pay an additional premium is insane. Why should you want to re-grade the coin? If you can charge X for a regular submission why should there be an extra premium for another designation? I mean you are not looking at the coin twice. This is pure BS. The whole idea is to get everyone to resubmit their coins just so the TPG’s can grab more of our coin collecting money. I personally think if you were to do this and not charge an additional premium then it might make some sense, as it stands now it is a thinly veiled cover for generating revenue for the shareholders at Collectors Universe.
MY Dear Sir or Madam,
I frankly don’t care about plus or minus, maybe it’s a good idea maybe not, I personally think the grading system should be on a 1-100 scale. Just like anything else purely decimal like the coins themselves. That way if you have a coin that is an MS 88 you absolutely know what you are getting a high end B+ coin. On another note there is no such thing as a RED Lincoln cent, I have never seen one, I have seen orangish and reddish but never RED. Maybe you should come up with another color coding scheme too? This whole idea is crazy, except if you are after money that is. To have to pay an additional premium is insane. Why should you want to re-grade the coin? If you can charge X for a regular submission why should there be an extra premium for another designation? I mean you are not looking at the coin twice. This is pure BS. The whole idea is to get everyone to resubmit their coins just so the TPG’s can grab more of our coin collecting money. I personally think if you were to do this and not charge an additional premium then it might make some sense, as it stands now it is a thinly veiled cover for generating revenue for the shareholders at Collectors Universe.
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