| Author |
Replies: 23 / Views: 3,068 |
Page 2 of 2
|
|
|
|
Bedrock of the Community
 United States
10492 Posts |
Quote: we will need to see the coins. True, now that you are a member please post pictures and you can get a quick honest answer if you should send anything in or not. It will save you a lot of money. 
|
|
Pillar of the Community
 United States
5663 Posts |
Unfortunately, you have little recourse at this point. The grading company did exactly what you paid them to do. The photos for grading are helpful in lower grades, but for higher mint state grades you need to assess in hand hundreds or thousands of coins before being comfortable distinguishing between MS-65, 66, and 67 coins. And unless you're sending coins directly from the mint, 68 is probably never going to happen.
|
|
Pillar of the Community
United States
7840 Posts |
You paid for their opinion, and you got it. Sounds like a learning lesson, and education is usually expensive.
|
|
Pillar of the Community
United States
2835 Posts |
Quote: I feel he was implying about PCGS - ( world's premier coin grading company.) As Homer Simpson would say.... "D'OH!" 
|
|
Pillar of the Community
 Canada
5394 Posts |
That $260 spent at the grading company would have been put to much better use had the OP been educated on what and what not to send in. The only happy party here is the grading company. As stated you paid for a service ( albeit expensive) and it was delivered! Would be very interesting to see what else was submitted besides the 1964 Cent ?
|
|
Pillar of the Community
United States
780 Posts |
This is one of the reasons I own very few slabbed coins. Why would I spend hours agonizing over the condition of a coin and then send it to a TPG company only to have the grader glance at the coin for 30 seconds. I have to rely on the mood, and experience of the grader, who, in all likelihood has a minimum number of coins they must grade in a day and probably doesn't get paid very much for their services. TPG's have their place, but IMHO, they should only be used when absolutely necessary.
|
|
Pillar of the Community
United States
7273 Posts |
Quote: Why would I spend hours agonizing over the condition of a coin and then send it to a TPG company only to have the grader glance at the coin for 30 seconds. I have to rely on the mood, and experience of the grader, who, in all likelihood has a minimum number of coins they must grade in a day and probably doesn't get paid very much for their services I know of no coin that needs hours to grade. A good grader can spend 30 seconds and tell you the grade. The hardest maybe a 70. In which case a grader may do a double take. He can tell 69 in a few seconds but a 70 may need a minute or 2. Even million dollar coins are graded in seconds what happens is that a very high value coin has a more experienced grader, the coins prior grade is taken into consideration and the coin needs 2-3 levels of approval before a final grade is given.
|
|
Moderator
 United States
187862 Posts |
 to the Community! Your post was moved to the appropriate forum for the proper attention. 
|
|
Pillar of the Community
United States
780 Posts |
Quote: A good grader can spend 30 seconds and tell you the grade. I never said I was a good Coin Grader.  To my understanding, PCGS uses a consensus of three graders to issue a grade on a coin. I know this may take more than 30 seconds, and I can only assume they take their work seriously. The issue I have, and we've all seen it, coins are frequently under/over graded. Some of the worst instances are Full Steps and Full Bands. These coins are Graded for the Market, and sometimes the standards are very loose. I'm not against TPG's, but for me I only use them for very specific, and valuable coins.
|
|
Pillar of the Community
United States
7273 Posts |
Quote: To my understanding, PCGS uses a consensus of three graders to issue a grade on a coin I know a grader on another forum and while it's 3 people, it's not a consensus. First person (the grader) reviews and assigns a grade. The coin is moved to an approver, that person reviews the grade and either accepts it or sends it back to reviewer person 1 with his notes Person 1 can agree with approver or not. That's when a 3rd person comes in. Either way after the grade is approved by 2 people the coin is sent to QA for a final approval. Generally coins would only go to a 3rd person if they are high value/ rare / conditional rarities or the grade is questionable (usually with early coppers or issued with known striking issues). He hated these as it messed up his metrics.
|
|
Pillar of the Community
United States
617 Posts |
In regard to the original post, any assistance from the forum will require pictures. As to the broader question of TPG and grading generally, all collectors should study coin types (for unique issues, strikes, etc) and practice, practice, practice grading coins in hand, photo grade, or any other opportunity to review coins. It is educational and fun.
|
|
Pillar of the Community
United States
780 Posts |
@hfjacinto, Thanks for the details on the approval process!
|
|
Pillar of the Community
Australia
852 Posts |
The best method to learn to grade according to TPG standards is to own a number of already slabbed cheaper coins of the same denominations as your raw coins. For $260 you could have purchased 10 or 20 slabbed coins from dealers bins and then compared them to your coins. Then you might have determined that your coins are no better than the best/most expensive slab coin you purchased from the dealer and it that best coin was sold to you for say 20 bucks then you know it isn't worthwhile slabbing your coins.
|
|
Valued Member
United States
345 Posts |
"Tuition" ... unfortunately. This was an expensive lesson.
|
|
Valued Member
United States
104 Posts |
I just sent in 8 to pcgs and 3 came back cleaned and 1 came back questionable color. . I was going to do a guess the Grade but I can't figure out for the life of me how to post a Pic on this forum anymore. Ive posted many in the past from my phone....anyways not the point of my post. As good as I think I am at grading coins I humbled myself and bought some incandescent bulbs 75w turned off all the freakin lights and ran should have done what I used to run through the basics before I sent in these 8 coins. I Thought I could see hairlines with the jansco lights but these coins could really go either way. Will post in new topic but to the op.....don't get discouraged. Buy a lot of books before you buy a lot of what you think are good coins to buy. Remember to only buy coins from a very trusted dealer and you shouldn't buy raw coins when your still this new to the hobby. Only send to PCGS,NGC and CAC imo and never buy coins that are a " good deal" because when you go to sell them it will be difficult. Pay a little more and buy a coin with nice eye appeal.
|
|
Page 2 of 2
|
Replies: 23 / Views: 3,068 |
Page 2 of 2
|