Numismatic Guaranty Company

Last updated
Numismatic Guaranty Company
Type Private
Industry Collectibles
Founded1987, Parsippany, New Jersey
Headquarters Sarasota, Florida
Area served
Worldwide
ServicesCoin certification
Parent Certified Collectibles Group
Website www.ngccoin.com

Numismatic Guaranty Company (NGC) is an international third-party coin grading and certification service based in Sarasota, Florida. It has certified more than 50 million coins. NGC certification consists of authentication, grading, attribution, and encapsulation in clear plastic holders. NGC is a member of Certified Collectibles Group (CCG), which owns six collectible certification services. NGC has been the official grading service of the American Numismatic Association (ANA) since 1995 and the Professional Numismatists Guild (PNG) since 2004. [1] [2]

Contents

History

NGC was founded in 1987 in Parsippany, N.J. as one of the first independent third-party coin grading companies. In 1995, NGC was named the official grading service of the ANA. NGC commenced operations at its new location in Sarasota, Florida in 2002. That same year, NGC was named the official grading service of the PNG. [3] In 2006, NGC relocated to a 60,000-square-foot secure building that also houses its CCG-owned sister companies, including Numismatic Conservation Services (NCS), Paper Money Guaranty (PMG), Certified Guaranty Company (CGC), and Classic Collectible Services (CCS). In 2008, ancient coin certification began (NGC Ancients). NGC has other locations in Hong Kong, China; Shanghai, China; Munich, Germany; and London, United Kingdom. [1] [4]

NGC certification

NGC certifies most US, world, and ancient coins, tokens, and medals. The certification process consists of authentication, grading, attribution, and encapsulation in plastic holders (aka slabs). Certification fees are tiered according to value, turnaround times, and extra services. NGC has certified over 50 million coins. [5] [6] NGC certification offers significant protection against counterfeiting, misattribution, overgrading, and damage, but does not necessarily determine exact value. Even within the same grade, coins can have widely differing values. [1]

The NGC grading scale is based on the 70-point Sheldon coin grading scale. Strike designations include Prooflike and Deep Prooflike for circulation issue coins and Cameo and Ultra Cameo for Proof coins. Coins deemed high-end for their particular numeric grade receive a "Plus" designation. Coins considered attractive get a "Star" moniker. Cleaned, scratched, or otherwise impaired coins can be encapsulated and assigned a verbal "details" grade, but not a numerical one. [1] Additional information is also given for graded and labelled mules and mint errors, specifying the particular error in addition to a numerical grade.

NGC employs more than 30 full-time graders. At least two graders examine each coin. NGC employees are prohibited from participating in the commercial buying and selling of coins, which reduces potential conflict of interest. NGC backs its evaluations with a guarantee: they will financially compensate for any overgrading or other assessment mistakes, based on their opinion of a coin's true market value. [1] [7] [2]

NGC has used EdgeView® Holders since 2007 for the Presidential Dollar series and for all other coins since 2008. Since 2009, a scratch-resistant holder coating, similar to that used on eyeglass lenses, has been employed. NGC offers Oversize holders for coins larger than 45 mm and up to 120 mm, and Mega holders for coins larger than 120 mm and up to 180 mm. [8] NGC's label lists a coin's denomination, variety, grade, pedigree, serial number, and other info. [9] [10]

Online research tools

NGC Cert Lookup verifies all NGC certified coins and helps combat against holder counterfeiting. Using the label serial number, NGC will reveal a coin's date, denomination, grade, photo (if any), and pricing and Census info. NGC Coin Explorer lists key info about many coin issues, such as mintages and values. The NGC Census reports how many examples of each issue NGC has certified by grade, which helps determine relative rarity. Census figures are often falsely inflated due to resubmissions of the same coins. NGC Coin Price Guide lists pricing data for most US coin (and some modern Chinese) issues. NGC Auction Central reports auction prices realized. [1] [11]

Dealer survey

A survey of major coin dealers, conducted by the trade associations PNG and Industry Council For Tangible Assets (ICTA), revealed the dealers' "Superior" rating for NGC, the highest given for any service. Of the other 10 grading services evaluated in the survey, only the Professional Coin Grading Service (PCGS) also received the "Superior" rating. Survey respondents gave their professional opinions about 11 grading services based on 12 criteria, such as grading and authentication accuracy. Each category was ranked by the respondents on a 10-point scale ranging from the lowest, "Unacceptable", to the highest, "Outstanding". [12]

Related Research Articles

Coin collecting is the collecting of coins or other forms of minted legal tender.

Coin grading is the process of determining the grade or condition of a coin, one of the key factors in determining its value. A coin's grade is generally determined by five criteria: strike, preservation, luster, color, and attractiveness. Several grading systems have been developed. Certification services professionally grade coins for tiered fees.

In numismatics, intrinsic value, also known as melt value, is the value of the precious metal in a coin. For example, if gold trades in commercial markets at a price of US$ 1200 per fine troy ounce, then a coin minted from one troy ounce of fine gold would have an intrinsic value of US$ 1200.

Professional Coin Grading Service (PCGS) is an American third-party coin grading, authentication, attribution, and encapsulation service founded in 1985. The intent of its seven founding dealers, including the firm's former president David Hall, was to standardize grading. The firm has divisions in Europe and Asia, and is owned by parent company Collectors Universe. PCGS has graded over 42.5 million coins, medals, and tokens valued at over $36 billion.

Certified Guaranty Company, also known as CGC, is a Sarasota, Florida comic book grading service. CGC is an independent member of the Certified Collectibles Group of companies. It is the first independent and impartial third party grading service for comic books.

1913 Liberty Head nickel Rare United States coin

The 1913 Liberty Head nickel is an American five-cent piece which was produced in extremely limited quantities unauthorized by the United States Mint, making it one of the best-known and most coveted rarities in American numismatics. In 1972, one specimen of the five cent coin became the first coin to sell for over US$100,000; in 1996, another specimen became the first to sell for over US$1 million. A specimen was sold for US$3 million in a 2004 private sale, then resold for US$3.7 million at a public auction in 2010.

Uncirculated coin

The term uncirculated coin can refer to three things:

Third Party Grading (TPG) refers to coin grading, authentication, attribution, and encapsulation by independent certification services. These services will, for a tiered fee, "slab" a coin. Professional Coin Grading Service (PCGS), Numismatic Guaranty Corporation (NGC), Independent Coin Graders (ICG), and ANACS are the most popular and credible services. Together they have certified over 80 million coins. All four firms guarantee the grades and authenticity of their certified coins. Certified Acceptance Corporation (CAC) is a coin certification service which certifies—and makes a market in—certain high-end coins already certified by PCGS or NGC.

International Coin Certification Service

International Coin Certification Service (ICCS) is a Canadian third-party coin certification company located in Toronto, Ontario. ICCS certification consists of grading, authentication, grade qualification, variety attribution, and other determinations. ICCS grades most world coins but is particularly known for grading Canadian dollars.

Certified Acceptance Corporation (CAC) is a Far Hills, New Jersey third-party coin certification company started in 2007 by coin dealer John Albanese. The firm evaluates certain numismatically valuable U.S. coins already certified by Numismatic Guaranty Corporation (NGC) or Professional Coin Grading Service (PCGS).

Classic Head quarter eagle

The Classic Head $2.50 gold coin is an American coin, also called a quarter eagle, minted from 1834-1839. It features Liberty on the obverse and an eagle on the reverse.

Kenneth Edward Bressett is an American numismatist. He has actively promoted the study and hobby of numismatics for over 50 years. His published works on the subject cover a wide range of topics and extend from short articles to standard reference books on such diverse areas as ancient coins, paper money, British coins and United States coins.

The Sheldon Coin Grading Scale is a 70-point coin grading scale used in the numismatic assessment of a coin's quality. The American Numismatic Association based its Official ANA Grading Standards in large part on the Sheldon scale. The scale was created by William Herbert Sheldon.

Michael R. Fuljenz is a numismatist, author, and businessman. He is currently the president of Universal Coin & Bullion, a precious metals trading company located in Beaumont, Texas.

Michael "Miles" Standish

Michael "Miles" Standish is an American businessman, author, rare coin expert, sports memorabilia expert and philanthropist. He is co-founder of Collectors Universe. He currently serves as vice president of the Numismatic Guaranty Corporation (NGC).

The 20 yen coin (二十圓硬貨) was a denomination of Japanese yen. These coins were minted in gold, and during their lifespan were the highest denomination of coin that circulated in the country. The first coins were minted in 1870 following the introduction of a decimal currency system. Twenty Yen coins spanned three different Imperial eras before mintage was halted in 1932. Many of these coins were then melted or destroyed as a result of the wars between 1931 and 1945. These coins are now collected by numismatists for academic study, and by those with a hobby.

Cleaning (coinage)

Coin cleaning is the process of removing undesirable substances from a coin's surface in order to make it more attractive to potential buyers. The subject is controversial as no consensus exists among the numismatic community whether cleaning is necessary. Those that argue in favor of cleaning are also in dispute on which methods work best. It was once common practice to clean coins as the method was recommended by experts in the field. Solutions from pencil erasers to wire brushes and potassium cyanide were all used as cleaning agents with the goal to make the coin look brilliant again. When certified grading came into use in the mid 1980s though, the practice of cleaning coins diminished over time. Most coin experts have since come out against cleaning coins, as doing so can negatively affect them both in grade and value. If a potentially valuable coin must be cleaned then professional work is recommended. Commonly found coins are mentioned as ideal candidates for any attempted cleaning experiments.

The Professional Numismatists Guild is a non-profit organization dedicated to coin collecting, as well as the buying and selling on coins and paper money.

References

  1. 1 2 3 4 5 6 Travers, Scott A. (2010). The Coin Collector’s Survival Manual (7th ed.). New York, NY: House of Collectibles. pp. 1–432. ISBN   978-0375723391.
  2. 1 2 "Introduction to NGC". NGCcoin.com. NGC. Retrieved 2016-06-15.
  3. "NGC is the official grading service of PNG". pngdealers.org. Professional Numismatists Guild. Retrieved 2016-07-12.
  4. "Global Locations". ngccoin.com. NGC. Retrieved 9 December 2017.
  5. Starck, Jeff. "NGC grading room confidential". coinworld.com. Coin World. Retrieved 2015-09-15.
  6. "NGC expands 'plus' designation to world coins". coinworld.com. Coin World. Retrieved 2015-09-15.
  7. "THE NGC COIN GRADING SYSTEM". ngccoin.com. NGC. Retrieved 2016-07-12.
  8. "NGC Holders". NGCcoin.com. NGC. Retrieved 2019-07-11.
  9. "NGC Unveils New Holder Design". ngccoin.com. NGC. Retrieved 2016-07-12.
  10. "SCRATCH-RESISTANT COIN HOLDER". NGCcoin.com. NGC. Retrieved 2016-07-12.
  11. "NGC Research". ngccoin.com. NGC. Retrieved 2016-07-12.
  12. "PNG, ICTA Announce Results of 2006 Grading Services Survey". pngdealers.org. PNG. Archived from the original on 2015-09-21. Retrieved 2015-08-05.