A change in leadership at Independent Coin Graders earlier this year has the grading service plotting a path to once again lead the way in innovation.

Austin Hutto is ICG’s new president and finalizer and has previous experience at Numismatic Guaranty Co. and Professional Coin Grading Service on his resume.

Hutto began grading coins at the age of 18 and is keenly attuned to the nature of the business. According to biographical information at icgcoin.com, “He finds that his favorite thing about working in numismatics is the fact that there is something new to be learned every day.” He’s now in the position to shepherd some new things learned into practice as innovations at ICG.

The company was the first to grade the modern American Eagle silver coins, a practice that then became a staple throughout the industry. Other firsts are poised and ready for introduction to the numismatic community. For starters, ICG offers to certify qualified coins with a 69+ grade.

The decision took a lot of thought. Hutto suggested it previously, in his other positions, only to be told it wasn’t the right time. Now appears to be the right time.

Hutto did his due diligence before deciding to implement the grade. While responses were not unanimous, there was enough support to take the step, which should help stabilize values.

For example, for certain coins, the value jump between a grade of 69 and a 70 can be as much as $12,000. A 69+ grade would provide a step between the two and reward a quality coin deserving an interim value.

Another progressive move is the encapsulation of copper rounds. “We sometimes forget that we need to listen to what the hobbyists think is important,” Hutto said. “There are tens of thousands of these (copper rounds) out there with strike variants and other special qualities. The collectors want them slabbed, so we should be able to do that for them.”

Hutto emphasizes the importance of collectors’ viewpoints. While the bulk of the ICG business comes from dealer submissions, the personalized service also offered by ICG strikes a resounding chord with the collector. “These are people’s prized possession,” he said. “This is their everything and it’s special to them. It needs to be special to us.”

In his short time in the job, Hutto has seen the volume of coin submissions steadily increase, and the goal is to keep building the volume. “When I got here, it was like 200 coins a day. Our goal is to get to 3,500 coins a day and then we would have the potential to do more. Volume is not the only goal though. We want to build consumer confidence. We’re all front and center, you see us at shows and you’re seeing us more in other places where collectors go.”

When asked about any preconceived notions customers may have based on past ICG experiences, Hutto believes he brings experience that will help overcome any negatives. “Those issues of the past are  no longer issues,” he said. “I have been at the other services, I have been in the belly of the beast. We’re not looking to steal the business from the others, but we want to be considered moving forward. If you respect the grade of some of the others, that was me, and now I’m here to help ICG.”

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