Slabbed Coins - Page 2 - Coin Community Forum

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Author	Replies: 23 / Views: 4,694	Page: of 2

markn Pillar of the Community Australia 1295 Posts	Posted 03/15/2012 8:38 pm Quote: My point being is that the grading on slabbed coins is not infallible I don't believe I ever said it was. It's pretty consistent though because PCGS's whole business model is based on the service it delivers. Given that it is applied by human beings there's always going to be problems. Tell me this Trout, once you understand how the PCGS standard is applied and how it relates to our standard would you prefer to rely on a grade applied by a company that has a published grading standard and whose reputation depends on the consistent application of that standard. Also PCGS don't care if they grade a coin MS64 or MS66 just so long as they perceive their standard is being applied correctly. Or would you prefer to rely on some dealer somewhere who grades in isolation using some standard they don't even publicise or probably understand and who has a commercial bias to over-grading so they can sell a coin for more? I know whose grading I'd rely on more. Report this Post to the Staff
nicwinner Valued Member Australia 262 Posts	Posted 03/15/2012 8:49 pm this is why i'd like take NGC if let me make a choice between PCGS and NGC. Edited by nicwinner 03/15/2012 8:50 pm Report this Post to the Staff
markn Pillar of the Community Australia 1295 Posts	Posted 03/15/2012 8:51 pm Quote: this is why if let me make a choice between PCGS and NGC, i'd like take NGC That's another level of complexity. NGC and PCGS use the Sheldon grading system but they apply it differently. I've not done any research into the way that NGC grade to be able to comment on them one way or another. Report this Post to the Staff
MobOfRoos Pillar of the Community Australia 762 Posts	Posted 03/15/2012 8:51 pm Quote: Or would you prefer to rely on some dealer somewhere who grades in isolation using some standard they don't even publicise or probably understand and who has a commercial bias to over-grading so they can sell a coin for more? Thata the whole point. I don't rely on the dealers grading, I rely on my own grading. Quote: PCGS grade lustre very highly. As a result you'll sometimes see almost flawless Aussie coins with attractive toning graded as MS63 or MS64 by PCGS but they are easy Gems under the Australian standards. On the flip side PCGS can be lenient on "rub" and judge it as roll friction and apply a low MS grade to a coin that would be AU or even gEF here in Australia. This quote is from another thread but a response to it probably belongs here. My main issue with slabbed coins is that we have faceless men at PCGS telling us how to grade coins. That lustre is very important but "rub" is less important. What right do they have to tell me that this is the correct way to grade a coin? With the ANDA system we have grades that dont rely on a ridiculous and unenforceable 70 point scale. It is up to the seller and the buyer to negotiate a value on the coin. Not rely on the whim of a faceless man at PCGS. Report this Post to the Staff
trout1105 Pillar of the Community Australia 7096 Posts	Posted 03/15/2012 8:59 pm Quote: My main issue with slabbed coins is that we have faceless men at PCGS telling us how to grade coins. That lustre is very important but "rub" is less important. What right do they have to tell me that this is the correct way to grade a coin? With the ANDA system we have grades that dont rely on a ridiculous and unenforceable 70 point scale. It is up to the seller and the buyer to negotiate a value on the coin. Not rely on the whim of a faceless man at PCGS. I think that you are ' preaching to the choir " with that statement MOR Report this Post to the Staff
trout1105 Pillar of the Community Australia 7096 Posts	Posted 03/15/2012 9:17 pm Quote: The Australian market just isn't big enough to warrant a full time, un-biased (that is not affiliated with a dealer) grading company. It may be that Aussie collectors are really not enamoured with the slabbed coins concept and prefer to grade their own when they purchase them. My perception about Aussie collectors is that they collect coins for there own pleasure and not as an investment portfolio. High grade and rare coins are usually purchased from highly reputable dealers or at auction houses without any drama's. Without the need to be slabbed. Report this Post to the Staff
FNQ Pillar of the Community Australia 507 Posts	Posted 03/15/2012 10:36 pm I think the practice of slabbing coins does have a place for the investment market; where the items have become commodotised, are represented by numbers in a portfolio and there is no interest or desire in learning how to grade. The unfortunate side effects are the "dumbing down" of grading practices and over-reliance on TPGs, whereby many people blindly accept subjective grading opinion as gospel truth rather than using their own judgement and faculties to reach a conclusion. Report this Post to the Staff
wwwww Pillar of the Community Australia 541 Posts	Posted 03/16/2012 5:17 pm Quote: This quote is from another thread but a response to it probably belongs here. My main issue with slabbed coins is that we have faceless men at PCGS telling us how to grade coins. That lustre is very important but "rub" is less important. What right do they have to tell me that this is the correct way to grade a coin? With the ANDA system we have grades that dont rely on a ridiculous and unenforceable 70 point scale. It is up to the seller and the buyer to negotiate a value on the coin. Not rely on the whim of a faceless man at PCGS. Not exactly, PCGS grade by wear (in circulated grades), lustre just so happens to be by far the most accurate way of measuring wear so people that don't understand this automatically assume that they grade by lustre. In mint state grades lustre only forms a minor part of the equation. Have a read of this article - it should explain why: http://www.numismatics.com.au/Blog/...nding_Lustre Also the 70 point standard is very well enforced - I think what you're saying is that it can't be perfect, I agree, but it is in practice far more consistently applied (at least by the major TPGs) than the ANDA standard. Report this Post to the Staff
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