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Shows US Those Overgraded Slabs From Major Companies

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Valued Member
Canada
221 Posts
 Posted 08/09/2019  10:16 am  Show Profile   Bookmark this reply Add ainsivalavie to your friends list Get a Link to this Reply

Quote:
SPP-Ottawa: Lot 1060, TCNC Auction, October 2015 Torex

I cut this out of its holder basically out of pure disgust... I would not even grade this one MS-64.

It seems hard to believe that someone at ICCS has conscientiously given your coin such a grade.

I wonder if the coin had possibly been evaluated as MS-64, but at the time of creating the certificate, a typing error had occurred (the numbers "4" and "7" are next to each other on the keyboard numpad).

If this is the case, it is still sad from a buyer's point of view, but it is an error easier to accept in my opinion versus a failed evaluation at this level.
I'm sorry if my English isn't perfect... I'm learning a little more every day.
Edited by ainsivalavie
08/09/2019 10:20 am
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fortcollins's Avatar
United States
3659 Posts
 Posted 08/10/2019  12:37 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply

Quote:
I could photograph coins all night - that prove your statement wrong. If anything, Canadian grading companies are consistently inconsistent over the past five years.


@SPP-Ottawa, I don't think we are really disagreeing here. Let me take another stab at trying to explain my thinking.

I'm talking about the difference between precision and accuracy. It's possible to be consistent, but consistently wrong. A one-meter measure that is actually 0.9 meters in length will still produce consistent results.

All of the services seem to be solid when it comes to authentication. All of them struggle at times with variety attribution. I think ICCS and CCCS fully grasp Canadian grading from the portrait, while PCGS and NGC appear to be attempting to grade Canadian coins from both obverse and reverse in accordance with American standards. Add that to the common TPG plague of simply getting the grade wrong, and it seems to result in skewing PCGS and NGC grades upward more than ICCS/CCCS grades, which just seem to be incorrect on as many occasions as PCGS and NGC.

I fully agree that ICCS in particular has slipped over the last five years. I see it every coin show I do. At the same time, PCGS is getting better with Canadian grading.

There are three things that concern me about the possibility of whole-coin grading by PCGS and NGC.
(1) Customers are relying on the grade opinions when they purchase coins. When they try to sell the coins, and dealers inevitably disagree with the TPG opinions, the customers think the dealers are crooks who are trying to steal their coins. That ill will really hurts those of us who deal in Canadian coins.
(2) The grade inflation results in price deflation for the coins, to compensate for the misgrading. We are seeing that in the broader Canadian market right now. If an "EF-40" in a slab is really a VF-30, the market will eventually adjust the transaction price to the actual grade and value, but the sale will still be tracked by the incorrect assigned grade. This suppresses the prices for the assigned grade, and ultimately hurts correctly graded coins and their owners.
(3) PCGS and MGS are the giants in the industry. If they are using whole-coin American standards, they have the sway eventually to make Canadian grading conform to their standards. What does this mean for the future?

The antidote obviously is to buy the coin, and not the opinion. In today's investor-driven market (as opposed to a more collector-driven market), too few people grade for themselves and too many rely on market-makers to establish value. Yes, that's the age-old lament of "it was better in the olden days," but what is really lacking today is education by collectors / consumers / investors.

Do you see this differently? I respect you and your thoughts, and I sure would welcome further discussion here.

Thanks again for taking the time to wrestle with this issue. It's definitely a real issue we all are facing.
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doubleeagle59's Avatar
Canada
2495 Posts
 Posted 08/10/2019  12:55 pm  Show Profile   Bookmark this reply Add doubleeagle59 to your friends list Get a Link to this Reply

Quote:
I wonder if the coin had possibly been evaluated as MS-64, but at the time of creating the certificate, a typing error had occurred (the numbers "4" and "7" are next to each other on the keyboard numpad)


I would bet very confidently that this is what happened.

It's happened to me (about 10 years ago)before and I notified them about the mistake.

ICCS never make a mistake giving a higher grade when the fields are marked because this is the very thing (and sometimes the ONLY thing) they look at when grading MS coins.

It has to be a typo.
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SPP-Ottawa's Avatar
Canada
10458 Posts
 Posted 08/10/2019  6:41 pm  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list Get a Link to this Reply

Quote:
It has to be a typo.


We'll never know... I have cut the coin out of the flip (but saved both), so that a future buyer will not have to pay for the same mistake.
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert Oppenheimer

Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

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moxking's Avatar
United States
17900 Posts
 Posted 08/10/2019  7:53 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Unless photos of coins are well presented, there is a much greater chance of differences with specific numerical grade assignments.

Every day we have folks supply us with photos and ask for our grading opinions. We have LOTS of truly knowledgeable collectors and dealers here.

Even so, it often occurs that even with that experience we may have a range of grade estimates.

Those folks who detail the reasons for their opinions help us all.

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John K's Avatar
United States
419 Posts
 Posted 08/11/2019  6:14 pm  Show Profile   Bookmark this reply Add John K to your friends list Get a Link to this Reply
The leaves are half gone on the obverse!
Shows-US-Those-Overgraded-Slabs-From-Major-Companies
Edited by John K
08/11/2019 6:24 pm
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John K's Avatar
United States
419 Posts
 Posted 08/11/2019  7:45 pm  Show Profile   Bookmark this reply Add John K to your friends list Get a Link to this Reply
Both of these are graded VF-30! Which would you rather have? Looks like some double punches on the date of the 1889 but no way I would pay VF price for it
Shows-US-Those-Overgraded-Slabs-From-Major-Companies
Shows-US-Those-Overgraded-Slabs-From-Major-Companies
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John K's Avatar
United States
419 Posts
 Posted 09/07/2019  7:10 pm  Show Profile   Bookmark this reply Add John K to your friends list Get a Link to this Reply
Here is one on ebay now and alongside it the picture from the PCGS grading guide of what VF35 should look like..


Shows-US-Those-Overgraded-Slabs-From-Major-Companies
Edited by John K
09/07/2019 7:17 pm
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silverwolf's Avatar
Canada
3733 Posts
 Posted 09/07/2019  7:36 pm  Show Profile   Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply
must have been an intern..that buffalo looks, like f-15
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John K's Avatar
United States
419 Posts
 Posted 09/08/2019  09:16 am  Show Profile   Bookmark this reply Add John K to your friends list Get a Link to this Reply

Quote:
must have been an intern..that buffalo looks, like f-15


my thoughts exactly. You would think they would have copies of their own grading pictures available to use.
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1352 Posts
 Posted 09/08/2019  2:42 pm  Show Profile   Bookmark this reply Add bosox to your friends list Get a Link to this Reply
Actually, the BIN price on the 1889 is about full Trends for an F-12, which is about what it is.
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Canada
822 Posts
 Posted 09/09/2019  10:26 pm  Show Profile   Bookmark this reply Add TerryT to your friends list Get a Link to this Reply
Tsk tsk !

Shows-US-Those-Overgraded-Slabs-From-Major-Companies
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Wade's Avatar
Canada
2781 Posts
 Posted 09/10/2019  8:07 pm  Show Profile   Bookmark this reply Add Wade to your friends list Get a Link to this Reply
is it possible, rather than a type-o, that the coin SPP dealt with was switched & holder re-sealed (or holder faked)?
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Dollar 1935's Avatar
Canada
321 Posts
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1cent's Avatar
Canada
1051 Posts
 Posted 09/11/2019  12:13 pm  Show Profile   Bookmark this reply Add 1cent to your friends list Get a Link to this Reply
Most of the slabs are now over graded. Somehow, coins with fairly visible wear across all surfaces now qualify as "about uncirculated". Coins with obvious wear and loss of detail sharpness qualify as "EF". I'm done with slab collecting, I'm back to the basics of raw coins because I can't put my faith in TPGs to grade consistently, or identify any of the plethora of fakes that are floating around.
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