Grade Population Reports
The “pop reports” as their known by many or population report is an ongoing list or book put together by the different third party grading services. This report shows the amount of coins graded in a particular grade for a particular coin. It is a very detailed table of data, which can heavily affect price or determine a coins rarity.
The modern version of these quarterly books are tabular data on the Internet, which is now easy to find and use, if you are a member.
The report was once published as a quarterly book by the leaders NGC and PCGS to compete and transform the growing numismatic community that demanded more transperancy. Among other major changes in the grading companies was the tracking and reporting of all grading activities as a final result. Then came other innovations such as holders, holographs, registry sets, Internet connectivity and so on.
The population report is an ever growing table of data that is carefully groomed by the TPG’s but still has it’s flaws. Namely, they could be over inflated by repeat submissions. Granted, we know they are somewhat over inflated, but how much no one really knows, and that is the problem, no confidence just faith. Faith does not mix well with financial situations, confidence is prudent and some would say required (Warren Buffett).
The other aspect I find alarming is inflation of price for a particular coin from one service just because they have less graded at that level. What is collectors only submitted coins to one service for certain types?
This kind of stuff happens, dealers will submit modern coins to PCGS and classic coins to NGC knowing they are worth more in those holders, thereby exacerbating the current situation even further.
Lastly, my problem lies in that they are not open and free to examine. Yes, I understand they have a business model and need to make a profit. But I have found eBay sellers “quoting” PCGS or NGC populations for a coin that was under valued, meaning they made it appear more uncommon than it currently listed in the reports. If the third party grading services opened up their numbers then the freedom of information would flow much more like the stock market and less like an exclusive club that not every collector belongs.
What do you think?
