By CoinWeek …..
When NGC announced its NGCX parallel grading system in 2022, many traditionalists in the numismatic community were skeptical that the new system would find market acceptance, given that the Sheldon Grading Scale had been in use since the mid-1970s. NGC countered that the 10-point grading scale had long been the standard for most collectible categories, including comic books and cards, and that its new scale would not supplant the 70-point scale but instead would serve an emerging community of coin collectors already familiar with the 10-point scale used elsewhere.
It’s easy to be sympathetic to the desire to reform the grading system. Over the years, the system has evolved into a Frankenstein’s monster with the addition of plus grades and shifting standards that have left collectors scratching their heads… or worse, forced to resubmit their coins from time to time to keep up with the market.
NGCX coins do not have the market penetration of NGC’s main product, but they have appeared more frequently on online auction and retail sites in recent years, with Vaultbox being one of the highest-profile products to use the service.
Rare 1795 Flowing Hair Dollar Gets the NGCX Treatment
On April 12, 2025, eBay seller Acousha Collectibles sold a 1795 Flowing Hair Dollar from VaultBox Series 8 graded NGCX Extremely Fine 7 for $13,200. VaultBox Series 8 was released on September 25, 2024, for $465 per one-coin box. This particular coin was among five singled out in the firm’s marketing.
One of the selling points of VaultBox is the firm’s buy-back offer. In this instance, the seller fared better on eBay but could have redeemed the coin for $11,500.
Where Did This Three Leaves 1795 Flowing Hair Dollar Come From?
Rare coins like the 1795 Flowing Hair Dollar do not typically evade certification for 40 years. Still, NGC’s parallel system makes finding the coin’s appearance at previous auctions more challenging.
To find the coin, we filtered out all sales records after September 2024 and all coins graded higher than XF45. The Vault Box coin had a mark above the 17 of the date, discoloration on the face, and a cluster of dark spots on the eagle’s breast and wing. Using these pickup points, we were able to find the coin’s last auction appearance before entering the new system.
Here it is from a June 13, 2024, Heritage Auction sale, where the coin sold for $10,500 with Buyer’s Premium. Heritage describes the coin as a BB-27 in Bowers Die State II. We scoured over a hundred additional Heritage listings and found no other auction appearances of the coin. Likewise, nothing turned up in the Stack’s Bowers archive. Interestingly, the VaultBox program has a short turnaround time from coin acquisition to release; in the case of this coin, it’s less than two months. Also interesting is that the company was willing to repurchase the coin for $1,000 over cost.
Are NGCX Coins Worth More than Certified Coins Graded with the 70 Point Scale?
NGCX coins represent a niche within the coin-collecting market. The major auction firms and dealers do not widely promote the system, nor is it sought out by most collectors.
Furthermore, single eBay transactions do not define the market. In this instance, the seller made off better than the Heritage consignor did in 2024, as they could find a willing taker at their asking price. A similar outcome may not have happened if the coin had been listed on eBay as an auction. We will never know. However, it is worth pointing out that the NGCX encapsulation did not hurt the Flowing Hair Dollar’s marketability, which is a great data point for those wondering about the efficacy of the parallel system.
The VaultBox buy-back offer, for as long as it stands, also serves as a backstop for would-be buyers and demonstrates a real benefit to the numismatic market. If only buy-back offers were more prevalent and transparent in the broader market.
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