Numismatic Guaranty Company

Last updated
Numismatic Guaranty Company
Company type Private
Industry Collectibles
Founded1987, Parsippany, New Jersey
Headquarters Sarasota, Florida
Area served
Worldwide
ServicesCoin certification
Parent Certified Collectibles Group, owned by Blackstone Inc
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 60 million coins. NGC certification consists of authentication, grading, attribution, and encapsulation in clear plastic holders. NGC is a subsidiary of Certified Collectibles Group (CCG), which owns six collectible certification services and is in turn owned by Blackstone, a multibillion-dollar New York City hedge fund. [1]

Contents

History

NGC was founded in 1987 in Parsippany, N.J. by John Albanese, who also founded Professional Coin Grading Service. A majority stake was later purchased by coin dealer Mark Salzberg. Along with CEO Steven Eichenbaum, Salzberg owns the CDN Greysheet, a price guide for coins similar to the Kelley Blue Book. [2] NGC commenced operations at its new location in Sarasota, Florida in 2002. 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), Certified Sports Guaranty (CSG), 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. [3] In 2021 Certified Collectibles Group was acquired by Blackstone. [4] Also in 2021, owner Mark Salzberg's son Andrew (formerly of ModernCoinMart) was appointed Executive Vice President of NGC. [5]

Claimed endorsements

In 1995, NGC was named the official grading service of the ANA, though this is purely for marketing purposes as the ANA does not encapsulate coins in its collection, [6] and those that are encapsulated are a mix of donated coins by different services including rivals such as PCGS. [7]

In 2004, NGC became the approved grading service of the PNG. Similar to the ANA affiliation, this can be misleading as PNG dealers do not exclusively sell or endorse coins graded by NGC. [8]

NGC certification

2015 American Silver Eagle (Reverse side; Proof "30th ANNIVERSARY" on edge and made of .999 fine silver), in an NGC slab. 2015 American Silver Eagle .999 Fine Silver Dollar by NGC.jpg
2015 American Silver Eagle (Reverse side; Proof "30th ANNIVERSARY" on edge and made of .999 fine silver), in an NGC slab.

NGC certifies most US, world, and ancient coins, tokens, and medals. The certification process consists of authentication, grading, attribution, and encapsulation in plastic holders or Coin slabs. Certification fees are tiered according to value, turnaround times, and extra services. NGC has certified over 50 million coins. [9] [10] 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. In the May 26, 2003 edition of Coin World, the hobby newspaper had announced they had contracted investigators to conduct a year-long, comparative study of PCGS, ACCGS, and NGC, along with several other grading services, each known as Third Party Grader (TPG). In their investigation, Coin World sent the same coins to each grading service over the course of a year, each coin being graded by all Third Party Graders it was sent to. They found that "In no case did the grading services agree on the grade of any given coin, and in some cases the difference in grading was as much as seven points off".

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. Additional information is also given for graded and labeled mules and mint errors, specifying the particular error in addition to a numerical grade.

NGC has used EdgeView [11] 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. [12] NGC's label lists a coin's denomination, variety, grade, pedigree, serial number, and other info. [13] [14]

Online research tools

NGC Cert Lookup verifies all NGC-certified coins and helps combat 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. [15] 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. [16]

Related Research Articles

<span class="mw-page-title-main">Coin collecting</span> Collection of minted legal tender

Coin collecting is the collecting of coins or other forms of minted legal tender. Coins of interest to collectors include beautiful, rare, and historically significant pieces. Collectors may be interested, for example, in complete sets of a particular design or denomination, coins that were in circulation for only a brief time, or coins with errors. Coin collecting can be differentiated from numismatics, in that the latter is the systematic study of currency as a whole, though the two disciplines are closely interlinked.

<span class="mw-page-title-main">Coin grading</span> Process of determining a collectible coins visual state

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

<span class="mw-page-title-main">Professional Coin Grading Service</span> American coin grading organization

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.

<span class="mw-page-title-main">1913 Liberty Head nickel</span> 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.

First strike is a marketing term used by third party coin grading services which refers to coins which were struck first by a mint. The U.S. Mint maintains that there is no widely accepted and standardized numismatic industry definition of First Strike coins. Several coin grading companies have decided that a "first strike" coin is one that shipped from the mint in the first month of the new minting.

Third-party grading (TPG) refers to coin grading & banknote grading authentication, attribution, and encapsulation by independent certification services.

<span class="mw-page-title-main">International Coin Certification Service</span>

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).

<span class="mw-page-title-main">Classic Head quarter eagle</span> American gold coin

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

<span class="mw-page-title-main">Kenneth Bressett</span> American numismatist

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.

<span class="mw-page-title-main">Sheldon coin grading scale</span> 70-point coin grading scale

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.

<span class="mw-page-title-main">Michael "Miles" Standish</span> American businessman (1964–2023)

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

Collectors Universe Inc. is an American company formed in 1986, now based in Santa Ana, California, which provides third-party authentication and grading services to collectors, retail buyers and sellers of collectibles. Its authentication services focus on coins, trading cards, sports memorabilia, and autographs. The company reached the combined total of 75 million certified collectibles in 2019. Collectors Universe is also a publisher in fields relating to collecting.

<span class="mw-page-title-main">Spink & Son</span> Auction house, commercial art gallery, numismatics

Spink & Son is an auction and collectibles company known principally for their sales of coins, banknotes and medals. They also deal in philatelic items, wine and spirits, and other collectible items.

The Great Kentucky Hoard is a hoard of more than 700 gold coins unearthed in an undisclosed part of Kentucky, United States, in the 2020s by a man on his own land. The finder of the hoard has remained anonymous.

<span class="mw-page-title-main">Coin slab</span> A type of sealed coin holder

Coin slab is a type of holder for a coin. Slabbed coins are typically from one of the coin grading companies. The practice of sending coins to third-party grading companies and then "slabbing" them began in 1986.

<span class="mw-page-title-main">1893-S Morgan dollar</span> Key date in the Morgan dollar series

The 1893-S Morgan dollar is a United States dollar coin struck in 1893 at the San Francisco Mint. It is the lowest mintage business strike Morgan dollar in the series. The 1893-S is considered to be a key date in the Morgan dollar series: examples of the coin in both mint state and in circulated condition are valuable.

References

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  2. "CDN under new ownership". Archived from the original on 2023-01-17. Retrieved 2023-01-17.
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  9. Starck, Jeff. "NGC grading room confidential". coinworld.com. Coin World. Archived from the original on 2021-09-05. Retrieved 2015-09-15.
  10. "NGC expands 'plus' designation to world coins". coinworld.com. Coin World. Archived from the original on 2015-07-10. Retrieved 2015-09-15.
  11. "TESS -- Error". Archived from the original on 2023-09-03. Retrieved 2022-11-11.
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  16. "NGC Research". ngccoin.com. NGC. Archived from the original on 2016-07-18. Retrieved 2016-07-12.