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PNG, ICTA Announce Results of 2006 Grading
Services Survey
(Orlando, FL) – The Professional Numismatists Guild
(PNG) and the Industry Council For Tangible Assets (ICTA) have jointly released
results of their third dealer’s survey of rare coin authentication and
grading services. The survey indicates the professional opinions of
numismatists who buy and sell coins for a living. |
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Survey
respondents were asked for their professional opinions to evaluate eleven
grading services based on 12 different weighted criteria, such as grading and
authentication accuracy. Each category was ranked by the respondents on a
ten-point scale ranging from the lowest, Unacceptable, to the highest,
Outstanding.
The final tally lists no grading service as
“Outstanding.
- " Numismatic Guaranty Corporation of
America (NGC) of Sarasota, Florida and Professional Coin Grading Service (PCGS)
of Newport Beach, California were rated, "Superior."
- ANACS of Austin, TX and Independent Coin
Grading Company (ICG) of Englewood, Colorado were ranked "Good."
- PCI, Inc. (PCI) of Rossville, Georgia and
Sovereign Entities Grading Service (SEGS) of Chattanooga, Tennessee were listed
as "Poor."
- ASA-Accugrade, Inc. (ACG) of Longwood,
Florida, Numistrust Corporation (NTC) of Boca Raton, Florida, Hallmark Coin
Grading Service (HCGS) of Vancouver, BC, Canada, American Coin Club Grading
Service (ACCGS) of Beverly Hills, CA, and Star Grading Services (SGS) of
Bellville, OH. were listed as "Unacceptable."
"This
past October, PNG issued a consumer advisory about online auctions where many
coins are listed as 'certified,' but not all authentication services use the
same criteria for determining the grades of coins. We conducted a third survey
as a continuing response to hobbyists’ concerns about perceived wide
variances in the grading standards between different rare coin certification
services," said Robert Brueggeman, PNG Executive Director.
"As in 2002
and 2004, these 2006 survey results are being published solely as a service to
the numismatic marketplace. The results do not necessarily reflect the views of
PNG, ICTA or any particular PNG or ICTA member with respect to any particular
grading service or services."
PNG and ICTA distributed surveys to its
full-time professional members on November, 2006, but did not send duplicate
surveys to people who belong to both organizations. Respondents sent their
completed surveys to the certified public accounting firm, BiggsKofford, of
Colorado Springs, Colorado. A total of 129 qualified and verified surveys were
tabulated by the CPA firm.
In the latest survey, participants were
asked to rate the eleven grading services in these twelve categories with
weighting factors (in parenthesis) disclosed in advance to survey participants:
- Accuracy of grading Mint State-60 and
Proof-60 or higher (12%).
- Accuracy of grading About Good-3 to About
Uncirculated-58 (12%).
- Accuracy of modern coin grading, 1965 to
date (12%).
- Ability to detect altered, repaired,
damaged, cleaned or counterfeit coins (12%).
- Grading guarantee (12%).
- Accuracy of all attributions including
color, surface, varieties and mint errors (10%).
- Consistency of accurate grading (10%).
- Marketplace acceptance and availability of
pricing for coins certified by the company (6%). .
- Customer services and products provided by
phone, print or on the Internet (4%).
- Collector benefits provided, such as
population reports, registries and educational information (4%).
- Quality and security of the company’s
certified-coin holder (4%).
- Cost for certification services provided,
considering price and turn-around time (2%).
Not all
of the survey participants responded with respect to all 11 grading services,
and some did not respond with respect to all 12 criteria. Other responses were
not counted because the participants responded affirmatively to PNG/ICTA's
request that they disclose any ownership or other affiliations they might have
with particular grading services.
All the original surveys are being
held by the CPA firm, BiggsKofford.
For additional information, contact
Robert Brueggeman, PNG Executive Director, 3950 Concordia Lane, Fallbrook, CA
92028. Phone: (760) 728-1300. Fax: (760) 728-8507. Web: www.PNGdealers.com.
E-mail: info@PNGdealers.com.
Or, Eloise Ullman, ICTA Executive
Director, P.O. Box 1365, Severna Park, MD 21146. Phone: (410) 626-7007. Web:
www.ICTAonline.org. E-mail: EloiseUllman@comcast.net |
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Media Contact:
Robert
Brueggeman, PNG Executive Director - Phone: (760) 728-1300.
Eloise Ullman,
ICTA Executive Director - Phone: (410) 626-7007.
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| Publication Date: 01/08/2007 |
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