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 Replies: 30 / Views: 3,481 |
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Pillar of the Community
 United States
3486 Posts |
Such well thought out responses!
I 'd like to add:
As Mint employees, they would be present at the birth of a design to the initial run of the coins.
Unlike any graders outside of the Mint, they would possess an intimate knowledge of each coin's
characteristics WELL IN ADVANCE of graders outside of the loop.
And also, I have a suspicion that at least a few graders currently employed by TPGs as as fed with with certain practices and directives issued from the Top Floor as are collectors. They might like the chance to work for the Mint.
Edited by matthewvincent
09/28/2012 06:15 am
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Valued Member
United States
337 Posts |
The main issue I have with a mint grading its own coins is the agency problem. In other words, they could manipulate the manufacturing or influence the graders to meet their goals.
You also can't have the mint partner with a 3rd party like NGC because that creates a dynamic of power too. NGC would lose objectivity. Don't bite the hand that feeds you.
But, I would pay a higher premium for MS70 coins direct-from-mint. Yet, if the minting of MS70 becomes too commonplace then the value is no longer present.
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Pillar of the Community
United States
1227 Posts |
Well, as much as I don't believe "the good old days" were always good (spot the quote, win a Kewpie doll!), the phrase that fits is "it was a different time." Moving on, however . . .
If they can find a way to make it hard to fake a $100 bill, they can find a way to make it hard to fake a Mint slab. Yes, I know, there are loads of fake hundreds out there--and do you know why? Because most people are ignoramuses about what money "should" look like. I've gotten two fake hundreds and an iffy $50 at my store, and the hundreds were so obviously not real it was stupid--if you know the first thing about the watermarks the Fed uses, you'd know these weren't real (the guy with the $50 gave me two twenties and took the fifty back to the bank; they determined it was real and our counterfeit pen was defective). The benefit the Mint would have is that not just any average Joe is looking for slabs; the people interested would presumably have at least some idea what they should look like and what technological things, or even deceptively simple things, they should look for (do you know the hardest part of a bill to counterfeit? The security strip printed with the bill's denomination. I talked to a police officer who was involved in a counterfeit bust and learned a few things).
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Pillar of the Community
United States
979 Posts |
Isn't the idea of 3rd party grading the fact that its... ya know, a 3rd party? As in, no vested interest in whether the grade is 60, 40, 20, or "is that a washer?"
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Pillar of the Community
United Kingdom
616 Posts |
Who would trust a mint that grades it's own coins?
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Pillar of the Community
Canada
1411 Posts |
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Bedrock of the Community
13014 Posts |
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Who would trust a mint that grades it's own coins?
I honestly wouldnt. It would be too tempting to just grade by how the orders come in regardless of what it should be. |
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Moderator
 United States
23522 Posts |
Quote:
Yet, if the minting of MS70 becomes too commonplace then the value is no longer present.
There's a bit of a dirty secret, as I mentioned earlier in this thread - 70's are not uncommon any more. In many modern issues, 70's exceed combined 68's and 69's, and as I mentioned many are submitted by the sealed box for "First Strike" designation. "MS/PF70" is a bubble, plain and simple, and that's the best argument against this whole theory, as much as I like the idea. 70 is pretty much the expectation these days, not the exception. It's only demand on the part of those who don't realize this which keeps prices up. |
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Bedrock of the Community
13014 Posts |
Edited by basebal21
09/28/2012 10:25 pm
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Moderator
United States
189767 Posts |
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Well, as much as I don't believe "the good old days" were always good ... And tomorrow ain't as bad as it seems...  |
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Pillar of the Community
United States
1227 Posts |
Jbuck, I knew I could count on you.  |
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Valued Member
United States
71 Posts |
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Pillar of the Community
United States
979 Posts |
Maybe if the mint gets too good, 70 will be worth less than the rarer lower grades, like error coins XD
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Bedrock of the Community
13014 Posts |
Quote:
Maybe if the mint gets too good, 70 will be worth less than the rarer lower grades, like error coins Depending on the error definitely possible but the 70 will always be the highest for pure grade. Even if every coin was a 70 you could just rub one up and get a lower grade but you cant undo the wear. The gap between 69 and 70 prices would be minimal though if that happened |
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Moderator
United States
189767 Posts |
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Jbuck, I knew I could count on you. My friends say that I know a lot about nothing. |
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Replies: 30 / Views: 3,481 |
First Page
Posted 09/28/2012 10:01 am
