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PCGS Expanding PL To Everything July 1, 2019

 
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Bedrock of the Community
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 Posted 06/20/2019  5:18 pm Show Profile   Bookmark this topic Add basebal21 to your friends list Get a Link to this Message
PCGS made an announcement that starting July 1st everything that they grade will now be eligible for PL designations when warranted. This is something that people have been asking for for many years and tip of the hat to the new regime for listening and deciding to make the change.
Edited by basebal21
06/20/2019 5:18 pm
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 Posted 06/20/2019  6:32 pm  Show Profile   Bookmark this reply Add gotboostedvr6 to your friends list Get a Link to this Reply
Meh
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 Posted 06/20/2019  6:40 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
Whoop de doo!
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 Posted 06/20/2019  7:40 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
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 Posted 06/20/2019  8:49 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply

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 Posted 06/20/2019  9:20 pm  Show Profile   Bookmark this reply Add serenitystan to your friends list Get a Link to this Reply
Please define PL?.
Bedrock of the Community
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 Posted 06/20/2019  9:36 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Please define PL?.


Proof Like, like how they would grade Morgans and most world coins. Now they're expanding it so anything they grade that deserve it will get the designation.

https://www.PCGS.com/grades#gradePL

tpEI3TMGzhg


If you skip to 1:25ish in the video it talks about PL a little bit

It'll apply to all series of everything next month
Edited by basebal21
06/20/2019 9:38 pm
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 Posted 06/27/2019  11:06 am  Show Profile   Bookmark this reply Add Kopper Ken to your friends list Get a Link to this Reply
Is PL an impaired proof? Not sure where PL fits in?

KK
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 Posted 06/27/2019  8:25 pm  Show Profile   Bookmark this reply Add joecoin to your friends list Get a Link to this Reply
Isn't it a designation on a mint state coin that they think has proof-like surfaces?

I think they should have a ML designation, for proof coins that have mint-state like surfaces.
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 Posted 06/27/2019  8:58 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
Here is an example



Edited by jimbucks
06/27/2019 9:03 pm
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 Posted 06/27/2019  9:09 pm  Show Profile   Check paralyse's eBay Listings Bookmark this reply Add paralyse to your friends list Get a Link to this Reply
We already have matte proofs, mirror proofs, and reverse proofs.

PCGS is doing a very good thing here. There are many classic coin series (including gold) which have prooflike contrast and reflective fields, but cannot be considered "PL" just because PCGS did not allow them to be attributed as PL. If you look through old high-end auction catalogs, you will find many coins other than Morgans that had "prooflike" in their descriptions.

The "prooflike" appearance is often a result of fresh die pairs being used, and the more coins those dies strike, the less prooflike they tend to get. But that's not always the case -- with Morgans, for example, worn dies were sometimes polished to remove clash marks and abrasions, resulting in prooflike surfaces on coins that would otherwise show features of later die states such as cracks and deep clashes that won't polish out.

Proof itself refers to the method of striking, not the surfaces of the coin, so there are many Proof issues with MS-like surfaces; if they show signs of actually entering circulation they become "impaired" proofs and receive AU or lower grades, but they're still Proof strikes.

This will be beneficial for gold collectors and collectors of series such as the Liberty Seated, Barber, and especially Mercury/Walking Liberty coins, which previously have been unable or very rarely able to achieve PL designations even in MS66 and MS67 grades that show clear prooflike elements. It also has the (good or bad) side effect of getting collectors who own non-designated coins which they consider Prooflike to resubmit their coins for a shot at the new designation. I don't believe NGC currently offers what PCGS is about to start doing, so it might even draw in some reholders from NGC, ANACS and IGC for a PCGS PL holder.

World coin collectors will also benefit as previously PL was not available or very rarely available on many popular world coin series such as German States thalers and aerlier Central/South American crown-size coins (Bolivares, Reis, Dineros, Pesos, Soles, Reales, etc.)

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 Posted 06/29/2019  9:36 pm  Show Profile   Bookmark this reply Add Kopper Ken to your friends list Get a Link to this Reply
So PL is one step up from MS?...MS what? Ridiculous!

KK
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 Posted 06/29/2019  11:30 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
So PL is one step up from MS?...MS what? Ridiculous!


As nicely as I can say it, you really need to do some research on this. Examples have been posted, links have been posted, it's time for you to put in some effort. Calling it ridiculous is very uneducated
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 Posted 06/30/2019  12:24 am  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
PL is no small thing. Especially on key coins and for registry sets.

I don't even want to mention how much I paid for a NGC 65 PL Isabella quarter for my Classic Commemorative set. But I love it every time I see it.
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 Posted 06/30/2019  12:45 am  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
So PL is one step up from MS?


No, it is applied in addition to Mint State when applicable.

jimbucks posted a good example on a 1893 $10 Gold Eagle above. NGC graded it MS61PL for surfaces with a Proof-Like appearance (PL).
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 Posted 06/30/2019  01:00 am  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
Regarding PL availability on world coins, NGC has certified Norway 20 Kroner old gold with the designation. I know because I have one. I suspect they are scarce since I've never seen another one.

Edited by jimbucks
06/30/2019 01:01 am
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