NGC: "NGCX" a new 10-point Grading Scale for Coins.

[SilverPlatinum]

URL: https://www.ngccoin.com/news/article/10916/introducing-ngcx/

[CollectForFun]

Shocking news. My first impression is that it's aimed at yet new audience to make it easier for people to buy the grade and not the coin. And to compare collecting and grading coins to collecting and grading sports cards...!!! That makes no sense at all on so many levels! One of them being that most cards would obviously be "uncirculated" (i.e. straight from the pack) and yet may get e.g. 7-8 grade for production imperfections such as an off-centre print.

That's really poor state of the coin collecting hobby if it sees the sports card collecting as a standard to follow. But perhaps no wonder, as NGC must be jealous about cards grading companies for charging the same money for grading a piece of cardboard. Not mentioning that in cards collecting, any more valuable card gets almost automatically slabbed. That would be something for their revenues if they could persuade coin collectors to grade every coin of some higher value!

Also what is their idea - that both scales would coexist? That will get real messy...

Edited November 17, 2022 by CollectForFun

[Mrpound]

What on gods Green Earth is this!?

[CaptCaveMan]

Just had the email come through myself and was also about to post...

"NGC adopted the Sheldon grading scale when it was established in 1987, and it remains the industry standard to this day."

So why introduce NGCX... two options for grading isn't going to confuse anyone in the hobby going forward 🤔

 

[SidS]

I think I might set up my own grading system. I'd grade that VIII.

[GoldStatue]

It seems perfectly reasonable to go from 1-100 instead of 1-70, not sure whether it will catch on though.

Some of the UK grading houses used to use the 100 scale, however they are so unpopular I'm not sure if they even still exist.

 

[Mrpound]

Just thinking of how long it took me to fully understand the sheldon grading scale and how pcgs differs from ngc, all the hours I’ve spent learning and they want to bring in 1-10 w****s

[LawrenceChard]

15 hours ago, SilverPlatinum said:

URL: https://www.ngccoin.com/news/article/10916/introducing-ngcx/

I also received an e-mail, shich was not from NGC, but from some outfit calling itself "Certified Collectibles Group", but with the link you have shown.

The full e-mail said:

Introducing NGCX, a 10-point Grading Scale for Coins

NGC is excited to introduce NGCX, the first 10-point grading scale for coins. The 10-point grading scale has long been the standard for most collectibles, including comic books, sports cards, trading cards and more. Now, with NGCX, coin collecting will benefit from the same intuitive and approachable scale. The new 10-point grading scale will supplement the 70-point Sheldon scale, which will continue to be used by NGC for regular submissions. A Certified Collectibles Group affiliate, NGC is the world leader in third-party coin certification because of its constant innovation and collector focus, with NGCX being only the latest example. While there is no difference in quality between a grade on the 10-point scale and a grade on the 70-point scale, the difference for the hobby is exponential. New collectors now have a clear path to embrace coin collecting. The path is NGCX.

Which makes it sound like the relatively unknown entity called NGC has been honoured by CCG who have allowed it to be one of their affiliates.

I suspect it may be the other way round if the truth were told.

Because I only scanned it very quickly when I first saw it, I thought it was some dodgy, small, new US dealer trying to big themselves up by plugging their own grading and slabbing,

This snap conclusion may have been wrong, but I still have a suspicion that "Grading and Slabbing" is still of more advantage to the companies operating it, and the dealers using it, than it is to coin collectors.

Am I being cynical? Yes! Am I right? Who knows?

😎

[marston59]

Why fix if not broken??

[YorkshireStacker]

Coin collectors: The numbers all go to seventy. Look, right across the board, seventy, seventy, seventy and...

NGCX: Oh, I see. And most grading scales go up to ten?

Coin collectors: Exactly.

NGCX: Does that mean it's better? Is it any better?

Coin collectors: Well, it's sixty better, isn't it? It's not ten. You see, most blokes, you know, will be happy at ten. You're on ten here, all the way up, all the way up, all the way up, you're on ten on your collectable. Where can you go from there? Where?

NGCX: I don't know.

Coin collectors: Nowhere. Exactly. What we do is, if we need that extra push over the cliff, you know what we do?

NGCX: Put it up to seventy.

Coin collectors: Seventy. Exactly. Sixty better.

NGCX: Why don't you just make ten better and make ten be the top number and make that a little better?

Coin collectors: [pause]  These go to seventy.

[YorkshireStacker]

Absolutely crackers. Trying to squeeze the granularity of a 70 point scale into a 10 point scale doesn't sound like a great idea. Surely that would lead to massive differences between coins that are supposedly in the same grade? And having one scale supplement the other seems even dafter. 

I can only hope they were preparing this email ready for 1st April and got a little excited and clicked the send button too early.

[Mrpound]

Seems like there trying to make it easier for simple minds, but unfortunately coin collectors are far from simple…… or are we just all stupid 🤣

whatever the reason I find it offensive 

[TeaTime]

Assuming the 1-10 scale will be sub-divided (i.e 7.2 or 8.3) then it's really just expanding the 70 point scale into a 100 point scale, not 10.

A cynical and obvious ploy to part gullible people from their money. And it will work.

[CollectForFun]

2 hours ago, TeaTime said:

Assuming the 1-10 scale will be sub-divided (i.e 7.2 or 8.3) then it's really just expanding the 70 point scale into a 100 point scale, not 10.

A cynical and obvious ploy to part gullible people from their money. And it will work.

Full grading scale here: https://www.ngccoin.com/specialty-services/ngcx-10-point-grading-scale/

Divided to 0.1 from 10 to 9. Then 8.8 - 8.5 - 8.3. From 8 below the step is 0.5. So in total 30 grades, the same as on the current 1-70 scale.

So it's really just an effort to open the market of graded coins to a wider audience - it's easier to explain to a complete outsider that "10 is the best grade".

[GoldStatue]

2 hours ago, TeaTime said:

Assuming the 1-10 scale will be sub-divided (i.e 7.2 or 8.3) then it's really just expanding the 70 point scale into a 100 point scale, not 10.

That's right, I've seen it with graded star wars figures, they mark them as a percentage.

They also do sub scores like NGC do with ancient coins where they score them on strike and surface.

I would like the grading companies to offer more detailed reports for the grades they give out, like point out on the coin where the scratch is that downgraded it from a 70 to a 69.

 

[TeaTime]

'10 is the best grade' and '70 is the best grade' both seem fairly simple to me - for simplicity alone a whole number rating will always be simpler than one utilising fractions. That's probably why it was originally used. Using 0.1 increments for part of the scale and 0.5 increments for other parts also comes across as a bit lazy - an 'outsider' would assume that a 7.5 rating is a lot lower than an 8 rating whereas it could be the same coin examined on a different day...

I wonder how many people will get coins re-slabbed so that the labels match ?

 

[SidS]

Can I get my old slabs slabbed to preserve them? 😁

That's where this is heading. Whatever happened to collecting the coin?

[sovereignsteve]

So in a while when there are lots of these 10-scale coins around, we will all need a conversion table to be able to compare coins?

I'm sure they will offer a free service to convert all our slabs to the new scale😁😁

[GoldDiggerDave]

It's horrid.........................What can Americans not even count to 70 now?  

 

 

[GoldDiggerDave]

Its the Sheldon Cooper scale!   

 

 

Edited November 18, 2022 by GoldDiggerDave

[dicker]

5 hours ago, GoldDiggerDave said:

It's horrid.........................What can Americans not even count to 70 now?  

 

 

No

[TeaTime]

Well, that video convinced me. 

I'm gonna dig out all my old fashioned 70 scale c**p and convert to the 10 point scale. It's the future.

Sponsored by NGCX 

[Oddjob]

Confusion will reign supreme once people try and compare a NGC MS65 with NGC MS8.5???.......I suspect PCGS are sitting back rubbing their hands together watching this.

[Goldfever20]

 

8 hours ago, Oddjob said:

Confusion will reign supreme once people try and compare a NGC MS65 with NGC MS8.5???.......I suspect PCGS are sitting back rubbing their hands together watching this.

Apparently in the new NGCX scale a   65=9.5 

70=10, 69=9.9, 68=9.8, 67=9.7, 66=9.6 🤔

[Mrpound]

15 hours ago, TeaTime said:

Sponsored by NGCX 

Love it 🤣

I don’t think I would do it if they paid me to convert old coins, unless they want to bump a few from a AU55 to a 10 then we can talk 😏