PCGS The Standard for the Rare Coin Industry

PCGS Secure Plus was announced on March 25, 2010 at the ANA National Money show in Ft. Worth Texas. This new service takes advantage of groundbreaking new laser technology designed to capture a unique identifying record of each coin. These records are archived by PCGS and are referenced in subsequent submissions.

If a coin is recognized as having previously been submitted, its record(s) are forwarded into the grading process. This historical data will assist PCGS in identifying coins that have been artificially toned or altered in some other way. It will also help provide a base of consistency and confidence that not only will assist PCGS in addressing "gradeflation," but will also provide the basis for PCGS graders to grade Secure Plus coins on a 700 point scale (vs. the traditional 70 points).

Coins will continue to be labeled with grades on the 70 pt. scale; however, coins that have been determined to be superior for their grade will receive a "+". Actually, "+" grades have been informally used throughout the industry to identify superior-quality coins, often called "PQ" or "A" for some time. With PCGS Secure Plus now formally recognizing "+" grades, we believe the added value that these coins warrant will be established and standardized in the marketplace .

Obviously a new product of this magnitude has generated a lot of questions and some ambiguity and even misunderstanding. There are a number of articles, videos and other reference materials on the PCGS web site designed to explain the new service. Here are a number of questions that have been raised since the product was introduced. For additional information you can contact PCGS Customer Service at 800-447-8848.

- Don Willis
President, PCGS

Go to Updates - 4/9/10

1. Q: Does the laser scanning detect doctoring such as puttying more reliably than other methods? Is the technology similar to what is used for Lasik vision correction surgery (although obviously nothing is being vaporized here)?
DW: The technology uses lasers but I don't think they are anything like Lasik. They are designed to help detect coin doctoring.

2. Q: Will PCGS Secure Plus eventually be used for most coins, say over $500 in value and maybe one day for all coins?
DW: We are starting off with Express service and above. We don't know what the demand will be and what it will take to handle it. So we are taking it one day at a time.

3. Q: Will it be used to change numbers, even reduce them in one grade, in the Pop Report?
DW: The Pop Report will be much cleaner for PCGS Secure Plus. Over time it will help clean up what is already there.

4. Q: Can it detect the obverse from one coin and the reverse from another, should someone try to pair two to create a fake scarcity?
DW: It will help in counterfeit detection but that's not its primary purpose.

5. Q: Do you believe PCGS might eventually raise the grade to 69 for the + service? There are quite a few moderns where an MS69 is worth $1,000 - $1,500 and an MS70 worth $5,000 - $10,000 or more. The 69+ service could be very useful for coins such as these.
DW: As the grades get higher, the gap between them shrinks. The difference between a 69 and 70 can be one tiny tick. I honestly don't know how we can slice it much thinner.

6. Q: Is it possible for a coin to be submitted under the PCGS Secure Plus service, but not get a Plus grade?
DW: A coin can be in a PCGS Secure Plus holder but not have a + grade.

7. Q: Can a coin in a non-Secure Plus holder be put in one using the Reholder service?
DW: Yes, you can Reholder a coin in a regular PCGS holder into a PCGS Secure Plus holder. Note: when we do this we are very carefully examining the coins. If we do not think the coin deserves the grade it already has we will contact you re: a buyback.

8. Q: How much does Secure Plus cost?
DW: Click here for a complete list of PCGS Secure Plus and Standard service prices.

9. Q: How much longer until Secure Plus becomes mandatory for all PCGS submissions at all levels?
DW: We have no plans to make this mandatory. We have to ease our way into this. We can't just shut off the existing services.

10. Q: Would PCGS ever consider licensing this technology to other grading companies and sharing their database of coin info? That would seem to really benefit the hobby if all of the companies had this power to ID the coin.
DW: We may license it someday ... maybe after we recoup the millions we have spent.

11. Q: The Secure Plus procedure seems to be contradictory to the obvious subjective nature of grading. Is this just the precursor to computerized grading that will attempt to eliminate any subjectivity? Will Secure Plus lock the coin in at Genuine or its assigned numerical grade?
DW: The most important point of the Secure part of our product is simply that we will always know the history of the coin. It doesn't mean we will never change the grade. It doesn't mean that the computer will grade the coin. It only means that we will now have more information about the coin that we are grading. I think that's a good thing.

12. Q: Can you add the + as part of a minimum grade for Crossovers or Regrades, e.g. submit a 62 coin with minimum grade or 62+?
DW: There are no minimum grades with PCGS Secure Plus. There are no Crossovers either.

13. Q: Is the new PCGS Secure Plus service limited to U.S. coins?
DW: PCGS Secure Plus is for U.S. and World coins.

14. Q: Do you believe there will be a time when PCGS will employ your Secure Plus methodology/technology to analyze, interpret and record coins already in a PCGS holder? I ask because this might be a terrific tool for coin recovery that could be extended to those who have many-older generation holders and who might not want to lose the holder for the new service. Thanks.
DW: At this time the coin needs to be raw for us to laser it. We can't do it in a holder.

15. Q: Can one get a plus grade without Secure Plus?
DW: Plus grades are available under Standard or PCGS Secure Plus service.

16. Q: How will Secure Plus affect the grading process? Will it lock a coin in at a grade? What does the + mean?
DW: PCGS Secure Plus does not lock in the grade of your coin forever. What is does is tell us what your coin has graded in the past. That way we can make a more informed decision. Do we ever make mistakes? Yes. Will we ever change a Secure Plus grade? Yes. The + refers to a coin that is in the top 10-15% of the grade. It must have positive eye appeal and be all there technically as well.

17. Q: Can a Regrade request that doesn't achieve a "+" be returned in its current holder?
DW: Regrades work under PCGS Secure Plus exactly as they do on the regular line. The answer to your question is no.

18. Q: Don, can I send a batch of PCGS blue label coins in, pay the $68.00 for each coin of course, and only have the ones that will get a Plus grade put in the Secure Plus holders?
DW: No. You have to send them through the process.

19. Q: How long does it take to scan a coin with the machine? Is it a quick process?
DW: It takes between 35 -45 seconds, including handling.

20. Q: After a coin is scanned and recorded, will dipping it be considered doctoring?
DW: We will be able to tell if a coin has been dipped. But dipping is not a reason to no-grade a coin (unless it's overdone). So dipping should not be a problem.

21. Q: Some folks like to have raw coins in this danscos, etc. So, if a coin in PCGS Secure Plus is at some time cracked out (stupid, imho), and put into a dansco, or some other holder which is generally, over time, considered NT, but later sent back in for grading/slabbing again (could be a year/2 years/etc.) and it has toned over time, will it be GENUINED (AT/QT) due to it being the same coin but having some toning? Will this be pretty strict or will the Finalizer using their judgment (i.e....some coins have NT'ed in slabs while others have been gassed) will a broad brush stroke be used or will common sense and knowledge trump)?
DW: I used this exact scenario as an example today. Of course the Finalizer will use his judgment. To me the question is does the toning looks like it was deliberately applied or did it happen naturally. The coins broken out and put in an album in the basement for 3 years probably will be fine.

22. Q: Will PCGS and NGC be sharing their scan databases to cut down on stolen coins?
DW: We will not be sharing databases in the near future.

23. Q: Have "fingerprinting" scans been taking place on high-end coins in advance of this announcement?
DW: There are approx. 3,000 coins already in PCGS Secure Plus holders including many rarities.

24. Q: Can I submit my Poor-01 Morgans for Secure+ holders? What series are being done?
DW: You can submit any series you want. It's the service level that counts. Secure Plus is available in Express service level and above.

25. Q: Will "genuine" coins be in the Secure Plus holders?
DW: We will not be placing Genuine coins in Secure Plus holders.

26. Q: Why is the "+" not available on coins grading lower than XF? It seems they would be best in that range because of the large gaps between grades (IE VF20, 25, 30, etc.).
DW: We had to set some limits to start with. We don't know what to expect and we can't commit to doing everything. We may change at some point but we decided on 45 - 68 to start.

27. Q: Once a coin is graded and in a Secure Plus holder, can someone who is hemming and hawing send it back in (without even cracking it first) for a grade re-evaluation... or is the grade fixed once and for all?
DW: This is a good question and important. NO - just because a coin is in a Secure Plus holder does not mean that the grade can never be changed. Of course it can be re-evaluated. All that is for certain is that we will have the grading history of the coin and we will be able to refer to it before the new grade is assigned. It DOES NOT mean we can't change the grade.

28. Q: I am curious why MS60 and MS61 were skipped for the + grade.
DW: Most MS60 and MS61 coins are pretty beat up. Putting a + on those grades would not be appropriate (like lipstick on a pig).

29. Q: Once a coin is scanned into the database, what happens if it is cracked and substantially "reworked?" Will you still be able to match the coin with the database entry? I'm assuming you tried this during testing; just wondering how much a coin can be worked over before it fails to match.
DW: We reworked a lot of coins in our testing. We actually had to rework the coin to the point of destroying it before it would not be recognized.

30. Q: Are there other protections against counterfeit coins and slab built into the program? There seems to be more and more of these and it is something that is a concern for the entire hobby.
DW: Yes, we have introduced some anti-counterfeiting devices in the new label on PCGS Secure Plus. We have another project underway that will more directly address your statement.

31. Q: How did you arrive at the values in the PCGS Price Guide for the '+' grades so soon (with no transactions having yet occurred at those levels)?
DW: We "primed" the pricing by using a formula: the lesser of either 20% of the spread between the base grade and the next grade up, or 50% of the base grade. It's just a start – and I believe very conservative. Watch these prices – they will be changing fast!

32. Q: If you have no near-term plans for selling your coins and are not in a Registry competition, is there any reason to submit your coins for Secure Plus?
DW: Here are some benefits of PCGS Secure Plus: your coins could receive a + grade; your coins would be registered in our database for potential recovery; you could receive a 10% discount on your insurance (we are negotiating right now); and PCGS Secure Plus coins could eventually be worth more if the demand is there.

33. Q: Will Secure Plus increase grading time?
DW: Yes, this will increase internal grading time. I don't believe it will impact turnaround time as we have hired additional people.

34. Q: BJ's e-mail states a + will be given a half point bonus for registry sets, such as a 65+ will count like a 65.5. Will a 45+ count 45.5 or 47.5, and will a 53+ be 54, etc?
DW: Grades will receive an extra 1/2 pt. The formula for calculating the value of the coin remains the same. See the Registry homepage for a full description.

35. Q: How long does it take to scan a coin?
DW: It takes app. 45 seconds to scan a coin.

36. Q: I know about lasers in arteries, but I do not know about the long-term effects of lasering coins. Is there scientific evidence that demonstrates that the lasering process used by PCGS will not harm the surface or appearance of coins in the long term?
DW: The lasers' power is very low and will not affect the coin.

37. Q: Now that prices for '+' coins have been added, some prices are no longer there; specifically, the '56 Type B Washington quarter and the '64-D Type C Washington quarter, just to name two. When can we expect to see those prices that have been omitted back in the Price Guide (or can we?).
DW: No prices should have been omitted as a result of Secure Plus. I will forward this to IT to check out. [This proved to be incorrect.]

38. Q: Will doing a Certification Verification show if a coin has been scanned into the PCGS database?
DW: At this time cert verification will not show if the coin is in a Secure Plus holder. Not a bad idea though.

39. Q: Sounds more like a fingerprint of the coin (like a serial number of a note). I was concerned that using a laser will help in the grading process, and somehow used for grading. I'm glad to hear that isn't the case. And questionable grades can be resubmitted as usual. I also would like to know about how the + is going to be the top 10 to 15% of the grade (or top of the top for the grade). I would imagine that over time that window will expand to over 10% - 15%. Do you see the + grade in time becoming a symbol to mean Premium Luster Quality (like how the paper side has a premium paper quality)?
DW: We are grading on a 700-point scale. To receive a + designation a coin has to grade xx7, xx8 or xx9. We have taken this mathematical approach to minimize the emotional aspect (for example, eye appeal) and to ensure consistency. Eye appeal is a factor (see our announcement in Product Spotlight) but the technical grade is more important. I don't see this grade range expanding.

40. Q: Are you only going to scan the Secure Plus coins or will you scan every coin that comes in? I ask this because what prevents someone from cracking out a stolen Secure Plus coin and resubmitting at the normal level? Or submitting doctored coins at the regular level?
DW: We realize there are ways to exploit the system and we will deal with them in due time. As we launch on day one, we don't know what to expect and we are being a little conservative. Eventually I would like to check every coin that comes in on either service, simply to see if it had ever been in a Secure Plus holder, but that is down the road.

41. Q: Are both sides of the coin scanned? Or only the obverse?
DW: We've done it both ways. We decided just to scan the obverse.

42. Q: How long exactly have you been slabbing Secure Plus coins? Who was eligible to participate in having their coins go through the new process if the announcement was only made yesterday and the coins were slabbed earlier?
DW: We began selectively disclosing this project to certain customers in advance to solicit their comments and advice. We slabbed approx. 2,000 coins in Secure Plus holders prior to the launch.

43. Q: I am concerned about submitting coins. However, I have about a dozen coins that I think would be excellent candidates for Secure Plus at the Express level. However, given that Express level service currently is running 15-30+ days, based on personal experience and reports of others, it is hard to get excited about rushing out and submitting coins for this service. Will the Secure Plus coins get priority service, or will they be placed at the back of the queue?
DW: Express Service is running app. 5 or 6 days. We measure this every week.

44. Q: I have six coins currently in PCGS holders that I want to be evaluated for the "+". If I understand correctly, in order to do this I need to pay the $65 Express fee per coin and send them in as a "Regrade" Submission? The $20 "PCGS Plus Reholder Fee" would not give the coins the "+" on the holder if warranted?
DW: You are correct. In order to be eligible for the + you must send your coins into Secure Plus as a Regrade. Reholders will only be reholdered in their existing grade. BTW - the same guarantee applies to Regrades sent into Secure Plus as the regular line, i.e. your coin will not downgrade.

45. Q: At what point will the scanned image of the coin be used to determine the grade by comparison with other scanned images of the same date/type/grade of coin that is already recorded into the computer's memory bank? Or will grading forever be left up to the human eye, and the laser scanning application only used for recording-information purposes.
DW: We have no plans to replace the graders (human eye) with a machine. The huge benefit provided by Secure Plus is we will now know the grading history of any coin previously sent in. Secure Plus is not intended to provide the grade for the coin. It is to provide information to the Verifier.

46. Q: In preparation for the launch I assume there was testing. My question is, how many coins have been scanned in trials to ensure that no two coins show the same "fingerprint?"
DW: We tested tens of thousands of coins. We've been at this for a very long time. This project was one of the best-kept secrets in the industry.

47. Q. Don, I realize that this new product is a competitive advantage vs. your closest competitor(s). However, in the interest of the overall coin community, wouldn't it make sense to somehow allow a sharing of this very vital fingerprint data? Personally, I think this technology is awesome and I applaud PCGS for coming out with it.
DW: We have no plans to share our database with another grading company. For starters we would like to recoup the millions we've spent building what we have.

48. Q: Will there eventually be a way to send in a coin for a provenance check without grading? This seems to be something that would be a companion to helping with identifying stolen coins. If so, will the scanning process work while coins are sealed in other TPG holders? Will a "hit" on your database by a coin previously holdered by PCGS but now in another holder cause you to update the provenance, deactivate the old PCGS serial number, and adjust the populations?
DW: There are a lot of possibilities that we will get to eventually. However, the system requires the coin to be out of a holder.

49. Q: I have just gone through the PCGS Price Guide using Barber Halves, Peace Dollars and Saints as examples. There seems to be no rhyme or reason to the amount given to the Plus Coins. The multiplication factor is all over the place. At first I thought it was either 30% or 50%, but the examples I did at random used these percentages------15%, 11.1%, 17.5%, 18.9%, 23%, 33%, 20%, etc. If a buyer for any of my newly encased coins with the Plus sign asks me how much I want for the coin and the value is not listed in the PCGS Price Guide, I will be at a loss to determine the correct multiplier.
DW: Our initial load of + prices used this formula: the lesser of 20% of the spread between the base grade and the next grade up, or 50% of the base grade. We are already adjusting these prices (upward).

50. Q: What about coins that are "crusty"? How will the laser be affected by the dirt, grime or debris in the coin's crevices?
DW: We have not found anything that prevented the system from recognizing the coin.

51. Q: I would like to know why the "+" is limited to coins grading above XF (as shown below I believe this should be an AG-3+ if submitted)?
DW: We arbitrarily decided on XF45 - MS68. Perhaps that will be revisited in the future.

52. Q: If a coin doctor only messed with the reverse, the process wouldn't detect it? Or am I missing something?
DW: Think about it. If a coin grades higher than before, the Verifier will be looking at it very closely. We can always scan both sides if we want to.

53. Q: Is this service going to be offered as a free grading at the Collector's Club Platinum or Gold level or as a quarterly freebie? April is right around the corner and a LOT of people would buy/renew for the grades.
DW: Our first request for a freebie!!! We'll take that into consideration. [Note: PCGS is now offering one free submission through Secure Plus as the quarterly freebie.]

54. Q: Now that the PCGS Secure Plus service is finally available here in 2010, does that mean that if copper collectors wish to use the service, must they submit their coins for "Regrade," and in so doing terminate their current PCGS grading guarantees as to the red or red-brown color of their coins? Or has PCGS already thought of this and worked out a program (perhaps a limited-time program, for a transitional period) for copper collectors under which they may submit coins already in PCGS holders for Regrade while maintaining the guarantee?
DW: Excellent question. It is not our intention to void a copper warranty if a coin that already qualifies is submitted for regrade under Secure Plus. We'll have to come up with a solution. We will. Thanks for pointing that out. Btw, I've already seen some really nice early copper that "plused".

55. Q: Is a Secure Plus Reholder in effect a re-grade evaluation for the possibility of receiving a Plus designation? What is the difference between a Secure Plus Reholder and a Secure Plus Regrade?
DW: Reholder and Regrade work exactly the same for Secure Plus as for our regular service. The only way to get a + is to send your coin in as a Regrade. If a coin is submitted for a Reholder it will not be regraded and is not eligible to receive a + grade.

56. Q: If I submit a coin in an old holder with the intention of receiving a Plus designation, is there an option to leave it as is should it not make the cut?
DW: Just as with the regular service, when you send a coin in for Regrade you lose the old holder.

57. Q: What will PCGS's protocol be when a coin gets flagged as a stolen coin? Like many other devices that are touted for their accuracy, you always see something along the lines of "this device is 99.99% accurate." Do the devices you are using and the system have a similar rating? If so would this be something your company is willing to share?
DW: We haven't worked out the protocol for assisting in the recovery of stolen coins. That shouldn't be too difficult. As for the accuracy rating, so far it has been 100% but even if it was 99% we would more than realize our objectives.

58. Q: If I submit my already PCGS-slabbed coins for Secure Plus, are my coins subject to regrading, and therefore I could see upgrades, downgrades and Plus designations?
DW: if you submit your PCGS coin as a Regrade under any service, you are guaranteed that the grade will not go down. Under Secure Plus you could get a higher grade, a + or the same grade you started with. I have seen coins regraded through Secure Plus that upgraded to a + that upgraded a full point; and that upgraded a full point plus the +.

59. Q: If I send my PCGS coins in to have them put into the new Secure Plus holder, can my coins be downgraded? And to get them into a Secure Plus holder, do they need to be sent in for Regrade or can it be done through Reholder?
DW: The rules for PCGS Secure Plus are no different than for Standard grading. Coins sent in via Regrade are guaranteed not to go down. Coins sent in via Reholder are guaranteed not to go down. You can submit any PCGS-holdered coin – either Standard label or Secure Plus - to the other service via Regrade or Reholder under the exact same rules. The only service where you can receive a + grade is PCGS Secure Plus.

60. Q: Does the certification number change once a coin is put into the Secure Plus holder? If so, what if the coin has a TrueView image?
DW: Just like the Standard service, when you submit a coin for Regrade via Secure Plus you will receive a new certification number. If you already have a TrueView it will transfer to the new cert #.

61. Q: Can you add Trueview service to a Secure Plus submission?
DW: Yes you can add TrueView to a PCGS Secure Plus submission. THE OPTIONS AND RULES FOR PCGS SECURE PLUS ARE IDENTICAL TO REGULAR SUBMISSIONS.

62. Q: Coin owners not wanting their coin to be encapsulated in a plastic holder can have a professional grade applied to an un-encapsulated coin, with a separate certificate of grade being provided. The coin and certificate would be linked by the coin ID file to assure the right coin stays associated with the grade certificate. Would such coins be allowed into the PCGS Set Registry as normal? Is a "cert number" provided? Could such a coin in turn be submitted to NGC (sorry to use that word but ...) for encapsulation, and still retain full PCGS certification as well?
DW: This refers to not holdering a coin and simply printing the information on a certificate. We currently do this for some medals. I don't believe they are eligible for the Registry. I can't speak for any other grading service, but whatever you do with the coin it will be recognized if it is resubmitted through Secure Plus.

63. Q: What will happen if I spend $5 K on an NGC coin in a Heritage auction and I send it to you with cross at any grade - (can you do the scan through the slab? it needs to be cracked out, doesn't it?)
DW: Crossovers are not accepted in PCGS Secure Plus. You can crack it out and take your chances, or stick to buying PCGS-graded coins. Same as always.

64. Q: Is the scanning you use 3D?
DW: You must have just watched Avatar. I don't believe the scanning is 3D. Certainly not in the way we represent the results.

65. Q: My worry is that some coins might "turn" after being holdered and thus not be correctly identified by the scanner. As we know the holders aren't 100% air-tight and coins have been known to tone and develop spots after holdering. If you scan a coin that has developed a little toning around the edges since being holdered and having been scanned, will the scanner not believe it to be a different coin if re-scanned?
DW: We deliberately 'turned' coins in our testing. They were always recognized.

66. Q: If I submit some PCGS coins that I have now with TrueView images to be regraded under the Secure Plus service , will I loose access to the TrueViews I have now and have to pay again for another TrueView as the cert # will be new? Many of my best PQ coins and Toned coins have TrueViews now.
DW: Existing rules do not change. TrueView images will follow a coin that is submitted for Regrade, i.e., they will be attached to the new certification number.

67. Q: If you regrade a PCGS coin under Secure Plus and now decide it is not NT, what happens? I don't think I have any AT in PCGS holders, but I tried to cross two others in another TPG slab over this past year and they were not crossed because of questionable color. Some coin doctors are getting too good.
DW: Same as always. If PCGS determines that a coin is AT or has some other problem while in the process of Regrading or Reholdering, we will contact you with our guarantee program.

68. Q: Since I heard that Crossovers are not included in this new program, and all my coins are already TPG- holdered, just an hour ago I sent off two Crossover submissions at the regular service. I don't see why you decided not to include Crossovers in this new Secure Plus program. I might have a few that are worth the extra PCGS fees.
DW: We cannot do Crossovers through Secure Plus because we need to take the coin out of the holder to scan it. That must happen before it's graded, not after. Therefore we cannot do Crossovers. You can either cross them in the regular line or crack them out.

69. Q: You mentioned in your previous post that MS60/61 graded coins were not eligible because they are pretty beat up and like lipstick on a pig. While this may be true for some coins, my PCGS-graded Gold Indian Head Half Eagle coins do not seem beat up (at least to me and the dealer I bought them from). The incuse design of the coin has posed some challenge to most graders (even to some PCGS graders) that grading accuracy has been an issue with this particular coin. My questions are:
(a) Would it be possible that the exclusion of MS60/61 graded coins be reconsidered for particular coins (such as the Gold Indian Head Half and Quarter Eagles)?
(b) Has the laser technology used in Secure Plus worked well with the incused design?
DW: I've answered the MS60 and 61 question a couple times already. We believe MS60 and MS61 by definition do not have + coins. And yes, this technology works with incused designs.

70. Q: Can this technology help confirm varieties? And my follow-up is, if so, will PCGS use this technology to expand the list of varieties it is willing to designate on holders?
DW: This technology may have additional uses that will become apparent as we go forward. We are at the starting line and are trying to address the most important objectives first.

71. Q: After having had played golf for many years it is difficult to explain to someone that you played well but scored badly. Also, you can play badly and score well. Does not the same principal apply to coin grading and the people who grade them? Suppose I send my coins in and the grader is having an off day? I have just spent "X" number of dollars for a substandard service. Will there be a recourse procedure to compensate for this if I disagree with the grading?
DW: Again a repeat answer but this is an important question. When coins are sent through Secure Plus we are able to create a record that contains a lot of information about that coin. The record is saved in our archive. Whenever the coin comes back in, we now have the ability to look up that record see the history of that coin. That information is very valuable and will assist us in grading. However that does not mean the grade will NEVER change. Sure it could change, and it will change if we decide that the coin was not given the correct grade previously. We are here to grade coins correctly. That's our number one priority. This new system is not intended to lock a coin's grade forever. It is intended to give us information – that's good, right? It will help us detect when a coin has been "improved" by some nefarious character – or not. It will also help us be consistent in our grading and ensure that every coin we grade is given the proper grade.

72. Q: If a coin were stolen, would one small tick on a non-distracting place allow the coin to go undetected by the software or does the software look for patterns and if X% match, then it's flagged?
DW: In our testing we deliberately scratched and marked up coins and the system still recognized them.

73. Q: At what point will the scanned image of the coin be used to determine the grade by comparison with other scanned images of the same date/type/grade of coin that is already recorded into the computer's memory bank? Or, will grading be forever left up to the human eye, and the laser scanning application only used for recording information?
DW: Forever is a long time. But I can tell you we've never thought of comparing images for grading. That would be a very cool AI application, but it won't happen in the foreseeable future.

74. Q: If a submission is "in house", but the news of the "Big One" was not yet released, would it be possible to get any of those coins into the new "Secure Plus" holder if they haven't been graded as of yet ?
DW: Sorry. We can't switch submissions in mid-stream. That would be an operational nightmare.

75. Q: Are coins laser-scanned on only the obverse, or do they get scanned on the reverse and/or rim, too? If only one side, what about those coins that have ambiguous obverse/reverse sides?
DW: We have scanned all three sides. Now we are scanning the edge and obverse and matching 100%.

76. Q: Will all coins (other than crossovers) be scanned even outside the PCGS Secure Plus system. If I submit a coin for Express service, will it get scanned just like the PCGS Secure Plus coins?
DW: Currently, we are scanning Secure Plus submissions only. We realize that we should be checking every submission to see if it has been submitted through Secure Plus or possibly stolen. We will get there eventually.

77. Q: The service lines that are available for Secure Plus do not include patterns. Can patterns be placed in a Secure Plus holder? If so, do we have to use the Walkthrough service, or can Express service be used for patterns?
DW: That is incorrect. Secure Plus submissions are based on service level, not coin type. You certainly can submit patterns at the Express or Walkthrough levels for Regrading or submit them for Reholder.

78. Q: It seems to me this technology may also be used for die variety attributions. Would this be workable?
DW: I already answered the variety question – maybe someday.

79. Q: Are the deliberately marked up/doctored/whatnot coins going to be exhibited online or at shows to show what the different alterations look like?
DW: We have no plans to display our test coins.

80. Q: Are the results this technology gives you something that can be displayed like a topo map?
DW: What we generate really isn't like a topo map.

81. Q: I have heard in the past that Regrades are cracked out by PCGS and regraded with the graders not having knowledge of the prior grade. Is this also true for Secure Plus Regrades? If I submit a coin for Secure Plus in an MS64 holder that is super high-end, borderline MS65, will the graders have the knowledge that it was in an MS64 holder, and use that information in their decision whether to call it an MS64+ or an MS65?
DW: Your understanding of how Regrades work is correct. It works exactly the same way for Secure Plus. The graders will grade the coin whatever it is, with no knowledge of what is was previously.

82. Q: If you don't go the crackout route, is the only way to get a crossover into Secure Plus is by sending a coin in for Crossover only with no minimum grade selected, get the coin back and then resubmit for Secure Plus?
DW: You are correct. Only raw coins (uncertified) or coins already in PCGS holders (either Standard or Secure Plus holders) may be submitted through the Secure Plus service.

83. Q: The PCGS Secure Plus process uses laser scanning to help detect coins that have been artificially enhanced since their last certification, combat "gradeflation" and excessive resubmissions of the same coins, and can also be used to help identify recovered stolen coins. How does PCGS define "artificially enhanced?" I can't find that term in the PCGS Library.
DW: I don't know if we have a definition somewhere of artificially enhanced, but it means just what is says. A couple examples would be: the application of foreign substances meant to alter and enhance the appearance of the coin or to hide certain marks or blemishes on the coin; and the application of toning (color) through deliberate means such as exposure to heat and/or gases. What is not included in artificial enhancement would be light dipping or the development of natural toning over a period of time.

84. Q: PCGS expert graders can now designate deserving, superior-quality coins as "Plus" within their respective grades, an important distinction when there are big differences in value between one grade point and the next. Is this a response to CAC? It seems as if it's the same philosophy. I know in the old days some of us used to use a rather informal ABC system for denoting quality within the given grade.
DW: PCGS Secure Plus was developed without any other grading service in mind and that includes CAC.

85. Q: Will acetone make our coins come back bagged for being dipped or altered or will it be OK?
DW: This is not really a Secure Plus question.... acetone can sometimes be used to remove foreign material from the surfaces without ruining the coin.

86. Q: I believe it was stated previously that approximately 10-15% of coins are expected to receive the + designation, but also more specifically that + would be given to coins graded .7 .8 and .9 for a given grade. Seemingly by the numbers, that would reflect 30% of the overall grading scale, or 30% of coins. Are there just much fewer coins that receive .7 .8 and .9 for some reason? I just want to try to have as good of an idea as possible as to what a + represents.
DW: Although the math says 30% of the coins submitted under Secure Plus should achieve the + designation, that assumes that coin quality is linear. If in fact the quality of coins is more bell shaped within a grade, then far fewer coins will achieve the +.

87. Q: I'm a Statehood Quarter collector. When will this service be affordable for me to submit my coins and not pay a month's salary?
DW: PCGS Secure Plus is based on service level, not coin type. As we have said, we are starting off with the higher service levels which address the more expensive coins. That's our starting point and we will work from there. If you are a PCGS Collectors Club member, watch for your next quarterly special.

88. Q. Will the Plus be given to a coin that is in the top percentage in the category of designation, i.e. cameo, full steps, fbl, etc.?
DW: The + designation will be given based on a coin being superior for the grade (not the variety).

89. Q: I'd like to know about these computers, and how they fit in. Just give me the kindergarten version of it. Let's take "artificial enhancement" and counterfeiting, for example. Would the computers be programmed to assist the graders in determining those?
DW: PCGS Secure Plus is a big first step in aiding in the detection of altered coins. The more information we can provide the graders, the better job they can do. The key is to recognize that what we have done is only the first step – a big one at that. There will be more.

90. Q: If I have a 1921 MS66 peace dollar which has a "weight" in the PCGS Registry of 6 and that particular coin receives the + making it MS66+, does that mean that the coin will now receive 3 points in the Registry, or would it only receive an actual half point no matter what weight a particular coin carries?
DW: The + counts as a half point on your grade. Then it's the usual math of weighting each coin and dividing by the total weight (see the Registry rules for a complete explanation).

91. Q: If I send you coins to get graded, why should I have to pay extra for you to grade the coin with a plus? I would assume that a Plus is part of the grade so why should I have to pay more for you to accurately grade my coins considering I am sending them to you to get graded in the first place? I understand that this is all new but wouldn't it have made more sense to simply increase the cost of grading for all coins and include the Secure Plus with all submissions? Wouldn't that have really done more to decrease the doctored coins on the market?
DW: You don't have to pay extra to get your coins graded. You can continue to have them graded through the Standard grading service. If you want your coin to be scanned and registered and graded on the 700 point scale then you have to submit the coin through Secure Plus. Secure Plus submissions do cost more than regular submissions. It's your choice.

92. Q: Secure Plus...is this what collectors want?
DW: I can think of all kinds of benefits for the collector.

First of all, I like the idea that for some collectors putting together a set of coins in MS65 may be cost prohibitive. But, putting the same set together in MS64+, which is just slightly below in quality, may be a lot more affordable. A much bigger bang for your buck.

Secondly, I like the idea that conscientious collectors who have put together collections of coins that are high-end for the grade have an opportunity to realize that value instead of what usually happens where they get offers "at bid" and someone else makes the money. I see this as a way of rewarding those collectors - why shouldn't they be the ones who make the money?

Thirdly, I like the idea that a collector can have their collection registered. If anything ever happens to it, their chances of recovery will be a lot better than they used to be (which was near zero). Plus I expect to soon be announcing discounted insurance rates on Secure Plus coins.

Finally, I like the idea of utilizing new technology to thwart coin doctoring. Won't everyone (except the doctors) benefit from this?

One last thing - having your coin graded through PCGS Secure Plus does not mean that the coin's grade is forever locked in stone. Our number one objective at PCGS is to grade the coins right. If we see a Secure Plus coin that we believe is undergraded, it will receive the proper grade. But if we see one that has been doctored it's going into a body bag. The idea, and beauty, of Secure Plus is that now we can give the Verifier (the graders will continue to grade blind) all the information we have about an individual coin. The more information we have, the better job we can do - on all fronts.

At the end of the day, what we have done is given everyone a choice. You can choose the regular Standard service or Secure Plus. It's up to you.

93. Q: I am confused by PCGS Secure Plus. What defines a + coin? Are Secure Plus coins that do not receive the + considered dreck?
DW: For a coin to earn the + designation it has to be in the top 10-20% of that grade. We aren't talking eye appeal, although that is considered as part of it. The coin has to meet all the technical criteria such as strike, luster, contact marks as well as eye appeal. Not just a pretty coin, but a coin that’s "all there" and may have been referred to as "a liner" in the past. Almost the next grade but not quite. A + is not an eye appeal designation. A + does not indicate "properly graded.” A + is something a step above.

Coins that do not earn the + designation are not dreck. 80-90% of all coins in every grade will not earn the +. They are not dreck at all. There is nothing wrong with a coin that grades 65.5 - it's solid for the grade and that's fine. It's just not quite a +. To assume that something is wrong with a coin that does not have a + is completely missing the point. I think there is a firm that puts little stickers on coins that are solid for the grade.

94. Q: On several occasions in the past David Hall has argued against adding “PQ” or some other designation to the grade. What has changed?
DW: Actually this was the first question DH addressed during Q&A at our presentation on March 25.

There is one giant factor that has changed since these earlier comments were made: technology. We now have technology that can capture and save all the nuances which uniquely identify each coin. This helps us recognize coins that have been altered and and allows us to consistently grade all coins at these more refined increments.

It's not "all about the money.” PCGS may actually be discouraging a lot of submissions from the guys that used to send coins in repeatedly. And, just to keep things in perspective, collectors may send coins in under the new program, but collectors account for a very small percentage of PCGS submissions. The guys with the largest submissions will have to change their business models based on the new program.

When I first joined the company, I must have been asked several dozen times "Don, when will PCGS put PQ on their holders?” We didn't want to simply identify PQ coins. That's kind of an emotional, eye appeal, kind of designation. We wanted something bigger and better. We wanted to identify coins that had above average or better eye appeal and also all the characteristics of an extremely high-end coin for the grade. That's what + is all about.

If you guys think about it, I believe you will realize the biggest benefactors of Secure Plus will be collectors. How many collectors have you known (maybe yourself) who have carefully put together a collection over the years, studying the series, hand selecting every coin as one of the choicest examples of the date, only to be offered "bid" or something similar when it came time to sell? Now with Secure Plus, collectors can have their coins graded, possibly receiving some + grades, and with new market values established for + grades, they can realize the full market value of their collection. We did this because we think it will be good for the hobby, and because it's the right thing to do.

95. Q: Is it true that once a coin is in a Secure Plus holder its grade can never change?
DW: Coins that are in Secure Plus holders are no more "locked into their grade" than coins in a regular holder.

Every coin that is submitted to PCGS for regrading will be evaluated by our graders without them knowing if the coin was previously graded, and if so, what that grade was.

When a coin's grade is finalized by the verifier with Secure Plus, he will be notified if the coin has been previously graded and will have digital photographs that he can use for comparison. Obviously this will help us detect if the coin has changed color or been altered in some other way. It does not mean that the coin's grade cannot change if he and the graders believe it should be. I think this will actually help us assign the proper, and best, grade to every coin.

96. Q: What’s the market for Secure Plus coins?
DW: I think the + grades offer a terrific opportunity for collectors to put together really high-end sets at prices that they can afford. Some may not have the budget to buy MS67, but they can get MS66+ – which will be nearly the quality – at substantially less cost.

97. Q: Will the laser scanner be at shows so coins can be submitted under the PCGS Secure Plus tier at shows, too?
DW: Yes. Secure Plus submissions will be available at all shows.