DGS might well be the little engine that could. I am really excited that we will grade coin number 2000 this week. What makes this milestone unique is that we are not grading ANY bulk submissions. We are NOT grading rolls of Lincoln cents, Morgan dollars, modern issues, etc. We're doing this the hard way... one collector coin at a time. And it's not easy to grade one 1938-D Walker in VF, then an 1804 half cent, followed by a $20 gold piece.
In addition to our success in the submissions department is the positive feedback the market is showing us because collectors are BUYING up our DGS coins. We are selling a higher percentage of DGS coins in our auctions than nearly all other grading services (coins offered versus coins sold). Collectors want conservatively graded coins for their collections.
Gold toying with $1000...
As you probably know gold is flirting with $1000 per ounce levels for the first time in months. The market saw a $21 correction today (after hitting $981!) but that's healthy given the rapid climb this week. Along with this new movement, we've seen a lot of buyers looking for "generic" gold coins on our site this week, which is very encouraging. As we head into the bing ANA show in 2 weeks, we can only hope gold will pop over the magic $1000 barrier to get everyone excited.
Thanks for reading...
-John
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4 comments:
In your original announcement on DLRC buying PCI last February, you wrote that there would be an announcement at the ANA World's Fair of Money about "a new program that is different from any other service." Will there be an announcement from DGS about a new program in a few weeks?
Scott,
Thank you for reading my Blog and responding. We have no formal announcement to make at the ANA this Summer. Frankly, we've been far ahead of schedule with DGS and the announcement(s) I had in mind back in February involved closing down the PCI service and starting Dominion Grading; the AuthentiView feature with the visual population report, and so on. Thanks in large part to the efforts of my great staff, all of this happened more quickly than I had anticipated and we are not ones to hold back on good news. Thanks again!
-John
John, this is a little off topic, but I have always been curious about what the significance is of the colored dots that you place on all labels on the reverse of the slabs that you sell. Could you please explain the color coding to we who buy your coins. Thanks,
Charlie
Actually, that's a common question and the answer is decidedly unexciting. We use the colored dots in the imaging department when an item has been imaged. The colors are meaningless -- Avery insists on selling the dots in multicolor packs so we use whichever color is handy. We also have started using camera images on certain coins that benefit from a digital photograph. Those might get the letter 'C' written on the dot. -John
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