SUPERB VIDEO DESCRIBING THE PCGS GRADING PROCESS

News: Welcome to the Canadian Paper Money Forum.

Take a look at the superb Grading Process Video put out by PCGS ("Professional Coin Grading Service"). Although the video deals specifically with coins, PCGS also grade paper money under the affiliated name PCGSC ("Professional Coin Grading Service Currency") as noted in my earlier post in another thread (reproduced below). It would be interesting to know what goes on behind the scenes at the other grading companies ....

http://www.pcgs.com/process.chtml
 

Perhaps the biggest problem of all is that there are so many independent third-party grading companies out there. Which one should you choose? Which one is the "best"? The first four listed below are the four American grading companies that advertise in Bank Note Reporter on a regular basis. I have listed them in alphabetical order in order to avoid suggesting any personal bias or preference.

1. CGA ("Currency Grading & Authentication")
http://www.cganotes.com

2. CGC ("Currency Grading & Certification, Inc.")
http://www.GradedCurrency.com

3. PCGSC ("Professional Coin Grading Service Currency")
http://www.pcgscurrency.com/index.html

4. PMG ("Paper Money Guaranty")
http://www.PMGnotes.com

And we should not forget our own home-grown Canadian grading company!

5. CCGS ("Canadian Currency Grading Service, Inc.")
http://www.canadiancurrencygradingservice.com

Some online sellers (e.g., PorscheAhmet) proclaim that CGA is the best grading company of all while others present documentary evidence to show that it's the very worst (e.g., vcavo, aka KeyCurrency.com)! Others express the opinion that PMG is the most "respected" company but how does one go about substantiating and verifying such a claim?. And then what about CGC and PCGS?

By the way, PCGS stands for "Professional Coin Grading Service" and not "Professional Currency Grading Service". PCGS was founded in 1986 as a coin grading service and now grades paper currency under the name PCGSC (i.e., PCGS Currency). The acronym PCGSC is usually abbreviated to PCGS when referring to paper money that has been graded by PCGSC. Confusing, eh??

Needless to say, it's a minefield out there when it comes to third-party grading. Different companies tend to use different terms, different grading criteria and different grading standards. It baffles me how all of this can be good for the hobby but I guess I just haven't seen the light yet!

As far as the grading of Canadian paper money is concerned, I personally feel that we need a Canadian solution to the present dilemma. It seems to me that the logical answer is CCGS. However, having said that, I can certainly understand why those sellers of Canadian paper money who want to take advantage of the burgeoning American market would probably prefer to go with an American grading company. 

Interesting how the process works (so much inspections have to be done).

Isn't ICCS (Internation Coin Certification Sercvice) another grading company? I've been seeing many coins on eBay graded using this service.

Isn't ICCS (Internation Coin Certification Sercvice) another grading company? I've been seeing many coins on eBay graded using this service.

Yes, ICCS is a very respected Canadian coin grading company. However, they do not grade paper money and that's why I didn't include ICCS in the above list.

I received an informative private message from a member who stated the following:

"I would rather not have them handle my coins with their hands. Interesting how they use gold coins, is that to shy away from the thought of silver or copper coming into contact with bare hands. I know I made this mistake in my youth. The damage is done and time will show handling as the years pass."

These are important comments and I recall that when I first viewed the video I was surprised by the rapidity and apparent casualness with which they handled (without gloves) the first gold coin. That part of the video is somewhat disturbing as it gives the impression that they are not being ultra-careful when handling the coins in their possession.

One naturally wonders how the paper money grading companies handle the notes that are consigned to their care. Do they pick them up with unwashed fingers or do they use clean disinfected tweezers or something like that?? And we'll never know how many notes get accidentally dropped on the floor and end up with stubbed corners ..... something which has likely happened to most collectors (including myself)!

As soon as this thread was originally posted I viewed the video. I too was surprised that the coins were always handled by bare hands.  After viewing this I immediately sent an email to PCGS regarding this particular concern. As soon as they reply, assuming they will, I will post the complete letter if it would be of interest to others.

FRIEDSQUID

I just received this reply from PCGS
Kristie Gallant
Customer Service
Collectors Universe
kgallant@collectors.com
800-325-1121
800-447-8848

    I recently viewed the on line video of your grading service and found it to be very interesting and informative however I have a few questions that I would like to have answered if at if possible?

1) I noticed when coins are graded that no gloves are used and are handled by the grader. Can this or has this ever caused problems in regards to any contaminents, even oil etc. from the hand, being exposed to the coin being graded.

2)      Q: Why don’t graders and sealers wear gloves while handling coins?
A: PCGS graders and sealers are experts in the proper care and handling of coins. While gloves offer additional protection, they reduce the tactile sensations necessary to properly manipulate coins during the grading process and could increase the chance of dropping a coin.

2) What exactly are the qualifications of a professional grader? What types of requirements are needed by the grader in order for them to qualify grading coins for PCGS? I can’t really answer this “exactly”. Our graders have been in the industry for years.  They must go through a series of tests including “test grading” to see if they meet PCGS standards. 

3) What if the 3rd grader disagrees with the first 2 graders that say were in disagreement? Is there a further process involved? This would most likely then be reviewed by senior graders.

I wonder then, does you coin only get graded by JUNIOR GRADERS
 



 

I was almost breathless

Actually that is one thing you did correctly. 
 According to numerous articles I have read, one of the worse things besides handling coins incorrectly, is breathing on them.  Tiny moisture particles can actually land on the coin causing damage as well.
Whether or not the handling of a gold coin is hazardous or not ,I think the point is the handling of any coins with bare hands can be risky. I still wonder how qualified is qualifed?