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A Brief History On Coin Grading.

 
 
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Valued Member
United States
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 Posted 08/22/2019  9:15 pm Show Profile   Bookmark this topic Add JoggingLiberty to your friends list Get a Link to this Message
6JMtZUSmUEw


Tell me what you think if you don't mind. I think it's funny that these big companies don't mention each other when they discuss the history of their business... because when you look back and think about it, they all needed each other to get where they are today.
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 Posted 08/23/2019  02:09 am  Show Profile   Bookmark this reply Add owatchman to your friends list Get a Link to this Reply
Pretty interesting I learned a couple things. I agree that moderns won't be as valuable. Not just because they've had an easy life, but also because there's so many minted.
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 Posted 08/23/2019  05:45 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
You are greatly overstating the quality of ultra moderns. They certainly are a higher quality than older coins overall, but none of the ultra moderns come out "almost all perfect" like you say in the video and that includes the ones whose population reports are almost all 70s. Many of the big submitters only have the 70s slabbed so if they send in 2k coins and get 650 70s thats all the gets recorded in the population report making it look like they're all basically perfect when over half of them were rejected. Then with collectors and smaller submissions they will do a quality control check and not submit the dogs if you will so it's already skewed towards the highest quality of the run. Business strikes are even less quality
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 Posted 08/23/2019  07:45 am  Show Profile   Bookmark this reply Add joecoin to your friends list Get a Link to this Reply

Quote:
Many of the big submitters only have the 70s slabbed so if they send in 2k coins and get 650 70s thats all the gets recorded in the population report making it look like they're all basically perfect when over half of them were rejected.



So, how does that work? You send in 2K coins and tell the TPG don't put anything less than a 70 into a slab? Do they still pay fees on the rejects?

Lets say they send in 2k ASE's. Does the cost of encapsulation outweigh the price potential on MS69's?
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 Posted 08/23/2019  5:25 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
You pay a nominal amount for coins that don't make the grade, IIRC $5...

So you pay $5 x 1350 for the coins that don't 70 or $10.38 each in additional grading cost (to cover the non70s) for the ones that do. Plus the normal grading fees, cost of the coins, shipping, etc.

You sell the 70s for $100 each and make money on the deal.

The 69s go back in their tubes and you offer them "fresh from monster box" to fools who think they'll find a 70.

Same basic fraud as unsearched Wheat cent rolls on ebay.
-----Burton
45 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC
Owned by four cats and a wife of 35 years (joined 1983)
Edited by BStrauss3
08/23/2019 5:26 pm
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 Posted 08/23/2019  10:30 pm  Show Profile   Check AES's eBay Listings Bookmark this reply Add AES to your friends list Get a Link to this Reply
There will be more 70s in those tubes if they wait a few years.
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 Posted 08/23/2019  11:23 pm  Show Profile   Bookmark this reply Add Greasy Fingers to your friends list Get a Link to this Reply
Bedrock of the Community
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 Posted 08/24/2019  12:16 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
You send in 2K coins and tell the TPG don't put anything less than a 70 into a slab? Do they still pay fees on the rejects?


As mentioned essentially yes. You give them a minimum grade and they'll return the ones that don't meet the grade raw. For PCGS at least you can actually set a minimum grade with any submission even as a collector, but you will pay full price for the coins that don't get holdered.

As far as fees, the majority of submitters yes there will be a fee. The biggest big boys probably don't have a fee for the unholdered ones. The fee itself will depend on who you are as the bigger submitters have their own pricing deals.

For PCGS the standard bulk submission which collectors can do as well is a 100 coin minimum at $12 a coin. If you set a minimum grade and over 60% of your submission meets that grade there is no fee for the unholdered coins. If less than 60% meets the minimum grade than there is a $5 fee for every coin that isn't holdered. If you're doing a minimum of 70 you will very likely be paying the fee. NGC is different as they all have different bulk submission terms and pricing structures. It's also limited what classic coins this can be used for.

That said if you have the hypothetical 2k coin submission you can almost certainly get a slightly better rate
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 Posted 08/25/2019  07:18 am  Show Profile   Bookmark this reply Add JGG to your friends list Get a Link to this Reply
When I send in modern proof commemoratives from the last 5 years, I'd say about 50% grade PR/PF 70. Unless it is a release that consistently grades low.
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