Loc: Western Washington
It appears that Rick is not a man of his convictions if on the one hand he "hates the way NGC grades" and on the other hand he is coming to work for them and now averes that NGC is the better service. Has he had some sort of Epiphany? Or, is there more going on here than we know about? At the very least, he must have severe foot-and-mouth disease.
I would be rather cautious about all of this until we know more about Rick's real agenda. IMHO, I just wonder if he and DH had a failing out and this is his safe haven. I do not imagine that one could have too many disagreements with DH and remain in his confidence or employ. I am going to hide-and-watch until I have a better understanding of this whole situation.:p
#25033 - 11/13/0208:47 PMRe: Montgomery Joins NGC
I was posting here when you were in diapers.
Loc: Washington State
Actually, this whole debate about grading standards is irrelevant. Kind of reminds me about thinking as a kid whether or not everyone sees the same exact color when we look at grass. I look at grass and see what I call green, you look at grass and see what you call green. But what I see might be what you call blue. There's no way to know since we learn our colors from birth. How can I possibly communicate to you what color I see - it's green....
So it doesn't matter one bit what PCGS calls an MS65 or what NGC calls an MS65 - what matters is how the industry prices that grade to that grading services standard. And it matters greatly the spread that the grading service hits around that standard. Right now, IMO, NGC is priced closer to the industry standard for the grade and is grading to a tighter spread. Perhaps when prices jump by 100%, then we can say that PCGS is grading closer to the standard - and I certainly hope they work on their spread!
................................................................. Looking for superb chopmarked trade dollars!
Loc: Western Washington
I agree. If I look at my purchases (particularly in Gold) over the past year, I would have to say that I am purchasing about 2/3'rds NGC and 1/3'rd PCGS. That is my reality check because I have to believe, after 40 years, that my grading abilities meet (or exceed) the criteria of the industry.
That having been said, I do not have any particular aliengence to any grading service. They are companies, not people, and companies change and evolve in their own peculiar way over time. At present, I have a bias towards NGC just because I believe that they are doing more of the right types of things.
If this changes, I will change with it because my only responsibilities are to myself and my family to protect our investment, which this is, as well as being a hobby. Once you have passed a certain financial investment point, it becomes an investment as well as a hobby. This is irrefuteable.
Loc: Western Washington
I do not remember where or when I saw this quote. If it was from Kenya, I quite agree that it should be taken in the context of being rumor at best. Plus, I realize that situations and people change and that many people do not hold much conviction in what they say.
Anyhow, all of this is a pretty big change. It will be interesting to watch it play out over the next few months.
Loc: Kansas City, MO
All of us NGC collector's should be counting our money!! This move is one giant step towards closing the price disparity between NGC and PCGS. Montgomery validates the outstanding service that NGC has been providing collector's for years. We might even bring some of the PCGS "snobs" into NGC!!! I'm sure many PCGS collector's are now going to have to adjust the value of their inflated holding's. Nice work NGC!!!
Modern Commmemoratives #9 Registry
I'm going out on a limb here to guess this Young Turk......but I am going to say Iraj Siya?? Let me know if I am correct.....great question and I'd interested to see if I am correct.
As far as RM moving to NGC....well I too was a bit surprised by the quote Rick provided (if he did provide this exact quote) in the NGC press release letter. It is a bit hard to believe that a guy like Rick, whom I respect a great deal, would make such a black and white remark after having been with PCGS for so many years. I will hold off posting any further remarks until some time passes and we can see exactly what impact Rick has at NGC and what impact this has on the market as a whole.
Sorry to leave you hanging so long. The answer to the trivia question is
(drum roll, please)
Steve Markoff, owner of A-Mark.
Mike, Iraj came into the coin market from out of the blue in the late 1980's.
As far as your RM comments, Mike, I agree with your surprise with Rick's black and white remark in the press release. But what was even more surprising--shocking, really--was that he was at PCGS since the 1980s, and quit without giving any notice or saying goodbye to the people who worked with him or for him. He was there on Friday, snuck in and cleaned his desk on Saturday, and *poof*, he was gone. I talked to several, including his best friend there. They're shocked, hurt and bewildered.
He was the President of PCGS, and the chief verifier since the late 1980's. As one said, "the guy must have no conscience."