NGC parent, CCG, was just sold to Blackstone Investors.
And you know investors are only out for profits.
This is HORRIBLE.
The Picard Facepalm below is in place of the rest of this brief forum post. More coverage next Wednesday.
NO NO NO NO NO. CCG and NGC MAKES STUPID DECISION
Money goes to money. N.G.C. Opening in England and Japan was not by accident. This was planned along time ago. These deals don't happen over six months or a year. They knew what they were doing all along. Let's here it for raw coins.
I. R. Bama
I'm not sure that the problem is investors after profit. Heck young Mr. Fodder, how long will you work before not making a profit makes you do something else. Free market is going to continue to moderate cost vs value
Now if you want to discuss Blackstone itself, well now that is quite a different story. My understanding is they have become politicized. I don't care for that. Politicized corporations are the greatest threat to our individual rights at this time. They tend to prefer totalitarian governments and seek to impose that on the public.
Bama I could not have said that any better thank you.1 year ago
Oh boy, this is bad. me and my dad were thinking of using NGC and it's affiliate branches to grade our rarer stuff ( most notably my porthole dollar). i hope that PCGS and ANACS hold out, becuase its almost guaranteed that NGC will start doing idiotic business practices like luring in customers with overgrading, jacking up prices for no reason or when a convenient shortage comes around. i wonder if ANA might just go back to ANACS or switch to PCGS, if stupid stuff like what i said starts happening.
AJ P.C.G.S. Is known for overgrading. I have seen the stats on many coins. N.G.C. Is more conservative. If N.G.C. grades 300 coins M.S. 69.P.C.G.S will grade them all M.S. 701 year ago
AJ P.C.G.S. Is known for overgrading. I have seen the stats on many coins. N.G.C. Is more conservative. If N.G.C. grades 300 coins M.S. 69.P.C.G.S will grade them all M.S. 70 really? whelp. if PCGS overgrades coins and NGC will pretty much undoubtedly do it as well, seems like i'm screwed.
I don't know anything about it. Be a shame if grading companies lose what credibility they have. Don't need over graded coins being sold in mass. Buy MS69 !1 year ago
I. R. Bama
Really, I think you guys are on the wrong path because you think that an investment group bought NGC. That in itself is not an issue. Guess what? The C in NGC stands for corporation. That means shareholders, who expect a return on their profit, the same as Blackstone. No real difference there. The problem is that Blackstone is using social credit scores in addition to financial credit scores. Think communist China, folks. They are the ones who came up with social credit scores, so they can control people's behavior. So in this new system you could be the most financially responsible person in the world and not get any financial credit unless your beliefs and behaviors line up with their social agenda. VERY scary! and THAT is the real reason Blackstone purchasing NGC is horrifying.
I had Blackstone investments at one point, but divested of them when I learned about it.