The History of The Numismatic Guaranty Corporation (NGC)
January 15, 2015
Numismatic Guaranty Corporation (or NGC) is the world’s largest third-party grading service. They have graded over 30 million coins since being established in 1987. NGC has been the official grading service for the American Numismatic Association since 1995 and the official grading service for the Professional Numismatists Guild since the year 2005. As of 2014, NGC employed more than 30 full-time coin graders.
NGC was founded in New Jersey in 1987. In 2006 they moved to the custom-built 60,000 square-foot facility in Sarasota, Florida. They also have opened satellite offices in Zurich, Switzerland and Konstanz, Germany.
The service they offer is coin grading: a fee-based service in which a coin or medal is sent to an independent company to render an opinion on its authenticity and condition. Graded coins are then encapsulated in a plastic holder or, colloquially, a “slab.” A label insert identifies the coin and provides a grade on the 70-point Sheldon grading scale. Coins that are not genuine or have been altered in some way are not graded. (Wikipedia)
In the year 2000, NGC introduced its Star Designation on their labels for coins that had very exceptional eye appeal.
In 2007, they released and introduced the Edgeview holder. And in 2008, they announced that the Edgeview holder would be would be standard for all coin types. The Edgeview holder was actually tested by the Smithsonian Institution. They encapsulated their top 200 coins using the new holders made by NGC.
In the year 2010, NGC stated that they had graded over 20 million coins since being founded in 1987. And as of April, 2014 that number grew to over 30 million. They are still the leading third-party grading service offered today by the volume of coins that they have graded.