Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Save Password
Forgot your Password?

Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Value Affecting Factors Within Assigned Grades

To participate in the forum you must log in or register.
Author Previous TopicReplies: 1 / Views: 1,822Next Topic  
Pillar of the Community
United States
4134 Posts
 Posted 10/22/2018  08:25 am Show Profile   Bookmark this topic Add Lucky Cuss to your friends list Get a Link to this Message
I had if not an epiphany, at least an educational experience at a coin show yesterday.

A vendor had two stacks of certified Morgans. There were about a dozen 1886's graded by PCGS at MS65, and about half that many 1881-S's pegged at MS63 by NGC. The certification numbers showed that both sets had been submitted as a group, and the holder style indicated that this had been done within the last few years.

What got my attention was how variable the coins themselves were. The PCGS 1886's were all very nice to be sure, and I don't think that you could make a cogent argument that any of them were grossly overgraded. The vendor's price was the same for any of them you wanted to pick, but there were some that presented noticeably better than others. It wasn't so much that one coin would have more marks than the next, so technically I could see why they were more or less grade equivalent, but the location of the marks and how that affected my perception of how far from "perfect" the coin was certainly made a difference. To my eye, there were both subtle and more obvious reasons to prefer one over another (I guess I'm actually making the case here for CAC stickers).

The NGC 1881-S's, which were priced at about 35% of what the PCGS1886's were tagged at, were even more problematic. My impression was that for such a common issue, very little true individual grading was done - kind of, like, "if brilliant and uncirculated, print up an MS63 label and slab it." There was one that for which Liberty's face was really pristine, and overall the coin was at least as good as or maybe even a little bit better than some of the MS65's over in the PCGS pile, yet it received the same MS63 grade as the others. Of course, that was the specimen I selected.

Within both groups, I wondered why some of the rather clearly better examples didn't earn a or a suffix.

I think that pert of the lesson here is that there may be an idealized and fallacious expectation that when common coins are submitted to these big services (especially in large lots), that they are scrutinized to the degree that we ourselves subject them to. It absolutely reinforces the maxim, "Buy the coin and not the slab."
Colligo ergo sum
Edited by Lucky Cuss
10/22/2018 10:42 am
Bedrock of the Community
United States
20104 Posts
 Posted 10/22/2018  11:04 am  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
Graders look at hundreds of coins each day with many people grading. Each person has a different idea of what they are looking at. Plus it's almost like a production line, the more you get graded the more money the company makes.
"Buy the coin and not the slab", no truer statement was ever made.
  Previous TopicReplies: 1 / Views: 1,822Next Topic  
To participate in the forum you must log in or register.

Coin Community Member eBay Sales

Certified Coins   Certified VAMs   Certified Errors  

Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2020 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2020 Coin Community Forums
It took 0.39 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05