1908-S IHC - PCGS?

I get all the "market acceptable" grading standard aspects but this coin is obviously corroded and cleaned. This is a perfect situation where you buy the coin, not the holder. I would have chosen to put this coin in a "Genuine" holder had I been a grader.

Exactly.
ExoGuy, thanks for the kind words but I just submitted an application to SGS. That way I don't have to grade at all. MS70 assigned to all coins!

I don't know where they get the 10. To me it is an 8 at best. There isn't a single full letter of LIBERTY. For an 8 I don't think the problems are too bad, but they would be enough to go for a small reduction in price. Maybe G-6 money.

ExoGuy, I don't know that I'd characterize that PCGS VG-10 as a "mistake." From a technical grading standpoint, sure, it's no VG-10. As a matter of fact, technically, it's not even a "problem-free" coin. From a PCGS market grading standpoint, though, they're, quite literally, writing the book on that. They see that problem VG-8 as transacting in the marketplace at VG-10, and that's a PCGS "market acceptable" VG-10, now.

On that Lincoln slab with the Indian in it, that's a "mistake." This, OTOH, is PCGS market grading. To simply throw that off on a "mistake," IMHO, is to fundamentally misunderstand just what they're doing with our coins.

Again, from the standpoint of the technical grade, we can indeed hold their feet to the fire. Why do you think they dreamed up this market grading, though? It's so it's impossible for anybody to have any technical basis upon which to question their grades. Rather, stripped of that, we're relegated to accepting them.

I sincerely believe that, anyway. Hey, FWIW...

I am so on board with this thinking. Grading companies have too much power. Am I just a cynic or does anyone else see a huge opportunity for corruption in the slabbing of coins world. The difference in value between a 66 and a 67 can be thousands of dollars.

I am in no way accusing any company or anyone affiliated with a grading service, I'm just saying people are people (Madoff) and It's just a professional opinion right? A point for a buddy, a point for a buck.

I do see the value of grading services, professionals weeding out fakes, but the whole industry seems to leave a bad taste in my mouth.

Well that was an unusual rant for me, I'll go away now

upstate, at the end of the day, it's a grading opinion. That's why it is subjective.

Eddiespin wrote:


Hi eddiespin. I didn't characterize as you say this 1908-S slab as a mistake by PCGS. I simply wrote that this much exalted slabber isn't above making mistakes; citing the wrongly labeled 1909-S slab as an example.

I was recently going through a box of old coins, looking for some to put in an auction. I had long ago marked the 2x2's with my grade. Upon reassessment, I knocked one down a full grade, feeling I had previously made a mistake in judgment on that one. Can it be that the omnipotent, professional graders are above such mistakes?

Some years ago, I sat down with a top grader for ANACS at the FUN Show. I handed him two slabbed 1916-D dimes; one ANACS and one PCGS. Both were graded AG-3. The ANACS coin looked G-4 to me, and every dealer to whom I'd shown that coin agreed. It fit the ANACS G-4 description, perfectly. My question for the grader was, "Could this be reslabbed as a G-4?" He agreed that the ANACS coin was better than that in the PCGS holder; yet, both AG-3. When he said that the ANACS-slabbed dime was an "AG-3.8", I departed. I cracked out the coin and sold it to a dealer for G-4 money; then, over $100 above the AG price.

Making mistakes is human, but arrogant denial is less so, methinks. I'll likely never utilize ANACS services, again.

Agreed that grading is an "opinion". But, I have a problem with the "market grading" concept and practice.

PCGS is making a PROFIT to grade coins. There was a standardized grading system that has been curved as "market grading". This helps PCGS graded coins to command a premium over a similar slabbed coin from another grading service, because of the perceived concept that if the slab is from brand X grading service, then the grade is true.

The PCGS population report used to be a fair guide to measure a particular coins value based on rarity in the grade. Not any more. HUGE premiums are placed on the highest graded coins from that grading service.

So, on one hand, PCGS is to blame. On the other, a category of numismaniacs (no, I did not spell that wrong!) are responsible as well. Call it the competitive nature or not.

Believe that PCGS is the larger entity to blame on the curve of the grading philosophy though. They are bending the grades....the coins don't lie. They are in this for a profit and continue to do so by offering a curved grading service based on standards they are not adherring to.