For immediate release
January 5, 2007
ICTA Announce Results
2006 Grading Services Survey
– The Professional Numismatists Guild (PNG) and the Industry
Council For Tangible Assets (ICTA)
have jointly released results of their third dealer’s
survey of rare coin authentication and grading services.
The survey indicates the professional opinions of numismatists
who buy and sell coins for a
Survey respondents were asked for their professional opinions
to evaluate eleven grading services based on 12 different
weighted criteria, such as grading and authentication
accuracy. Each category was ranked by the respondents
on a ten-point scale ranging from the lowest, Unacceptable,
to the highest, Outstanding.
The final tally lists no grading service as “Outstanding."
Numismatic Guaranty Corporation of America
(NGC) of Sarasota, Florida
and Professional Coin Grading Service (PCGS) of
Newport Beach, California
were rated, "Superior."
ANACS of Austin, TX and
Independent Coin Grading Company (ICG) of Englewood,
Colorado were ranked "Good."
PCI, Inc. (PCI) of Rossville, Georgia
and Sovereign Entities Grading Service (SEGS) of
Tennessee were listed as "Poor."
ASA-Accugrade, Inc. (ACG) of Longwood, Florida, Numistrust Corporation (NTC) of Boca Raton,
Florida, Hallmark Coin Grading Service (HCGS)
of Vancouver, BC, Canada, American Coin Club Grading
Service (ACCGS) of Beverly Hills, CA, and Star
Grading Services (SGS) of Bellville, OH. were listed
"This past October, PNG issued a consumer advisory
about online auctions where many coins are listed as 'certified,'
but not all authentication services use the same criteria
for determining the grades of coins. We conducted
a third survey as a continuing response to hobbyists’
concerns about perceived wide variances in the grading
standards between different rare coin certification services,"
said Robert Brueggeman, PNG Executive Director.
"As in 2002 and 2004, these 2006 survey results are being
published solely as a service to the numismatic marketplace.
The results do not necessarily reflect the views of PNG,
ICTA or any particular PNG or ICTA member with respect
to any particular grading service or services."
PNG and ICTA distributed surveys to its full-time professional
members on November, 2006, but did not send duplicate
surveys to people who belong to both organizations. Respondents
sent their completed surveys to the certified public accounting
firm, BiggsKofford, of Colorado
Springs, Colorado. A total of 129
qualified and verified surveys were tabulated by the CPA
In the latest survey, participants were asked to rate the
eleven grading services in these twelve categories with
weighting factors (in parenthesis) disclosed in advance
to survey participants:
of grading Mint State-60 and Proof-60 or higher (12%).
of grading About Good-3 to About Uncirculated-58 (12%).
of modern coin grading, 1965 to date (12%).
to detect altered, repaired,
damaged, cleaned or counterfeit coins (12%).
of all attributions including color, surface, varieties
and mint errors (10%).
of accurate grading (10%).
acceptance and availability of pricing for coins certified
by the company (6%).
services and products provided by phone, print or on
the Internet (4%).
benefits provided, such as population reports, registries
and educational information (4%).
and security of the company’s certified-coin holder
for certification services provided, considering price
and turn-around time (2%).
Not all of the survey participants responded with respect
to all 11 grading services, and some did not respond with
respect to all 12 criteria. Other responses were
not counted because the participants responded affirmatively
to PNG/ICTA's request that they
disclose any ownership or other affiliations they might
have with particular grading services.
All the original surveys are being held by the CPA firm, BiggsKofford.
For additional information, contact Robert Brueggeman,
PNG Executive Director, 3950 Concordia Lane,
92028. Phone: (760) 728-1300. Fax: (760) 728-8507. Web: www.PNGdealers.com.
Or, Eloise Ullman, ICTA Executive
Box 1365, Severna Park, MD 21146. Phone: (410) 626-7007.