PR-70 Grade Dumb. As Long As It Doesn't Have A Huge Scratch It's Fine

People also send coins to get verified for authenticity.

The "old" way of collecting has evolved. Gone are the days of mailing list and coin shops in every town. Now you have the Internet and everything you desire is a click away. The thing with that is with photo editing software you can make a dog look like a beauty queen with the click of a button. The TPG are here to try and eliminate that problem and grade them, so you know what you are getting. To get even more complicated you have cac who verifies the coin and adds their sticker to the slab approving the TPG assessment of the coin. This way buying a coin online you are reasonably sure you will be receiving a nice example.

The 70 slabs are more for a registry set type collector where they need the thrill of being number 1. I'm willing to bet there are many members here who don't own a 70 slab as most here are collectors not registry set "competitors" and would rather buy more coins with the money they would spend on a 70 versus a 69.

The best part about this hobby is you can collect what you want.

I am not rich enough to buy a set of 70 coins and I am not competing to be the top collectors. It is already well known to me there are many many rich collectors who are willing to spend big money on coins than me ever will be able to.
So for now, I collect that I could enjoy.
But I understand that if I have a pile of money to blow like winning a power ball lottery, I would buy all my coins in the best grade possible.

I hate general rants against the TPG market. Get with it and learn to navigate it or get out of the way. The hobby will never go back to "the good ole days". Pandora's box was opened in 1986 and you can't put the cat back in the bag

Slab is good for preventing people buying expensive fakes or doctored coins.
It gives people confidence to hold their investment in coins and thus expands the appeal to a lot of collectors and non-collectors.

Yeah, until you get victimized by a fake slab. I don't trust anything anymore, that's why I buy only raw circulated coins.

I prefer raw circulated conditional rarity coins like a good f12 03o morgan for example. Love playing with and flipping around a coin that's worth more in F than in low MS

Slabs lead to less ripoffs and allow collectors to buy a variety of types as well as expensive dates without being worried about the coin being worth much less than they buy it for. Almost everything above $200 that does not have problems is slabbed these days, so if you collect high-end coins, you are buying slabs. The search for the perfect bullion coin is a ridiculous one IMO. I was at a show where a dealer was buying an MS-70 Ike for a client for $3000. The buying dealer and selling dealer were laughing at the client (who was not at the show) and shaking their heads saying maybe we can convince him to buy a Bust Dollar instead so he'll really have something worth something.