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Replies: 65 / Views: 7,208 |
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Valued Member
83 Posts |
          Here, here - APPLAUSE & standing ovation! 
Another voice of sanity, reason, knowledge, experience, and logic :) 
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Pillar of the Community
 Canada
1461 Posts |
According to some of you ICCS was stingy on CDN coins. Hmmmmm....Apparently not so much. Also according to a few on these forums, American TPGs over grade Canadian coins. I'd like to see either NGC or PCGS give this coin an MS62. Yes Scott, we know every coin graded MS has to look like a 70 but that's not reality. Both of these coins are graded incorrectly 1880 is clearly an MS coin with hairlines, the 1882 is not. Herein lies the problem with "net grading" based certain attributes. Could this coin have been graded so high purely based on the fields?
Edited by TheCoinHunter 10/30/2013 6:25 pm
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Pillar of the Community
1844 Posts |
coin, just a crazy thought maybe ICCS mixed up the certificates..maybe you should send them back and ask ..Heck if they did you would surely benefit 10 fold, but if they realize their snaffu then the 82 might come back as VF 30 or EF ? hummmmmm what to do ....
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Pillar of the Community
 Canada
1461 Posts |
No likelihood of a snaffu. These coins were walked through. The only possible snaffu would be the 80 vs 82. Wouldn't that work out eh?....From what I've seen the 82H strikes are definitely weaker around the ear so it would be an AU coin.
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Valued Member
83 Posts |
THC - As you like to offer, "let's stick to the facts".
Once again, albeit I understand "sarcasm" - you are misrepresenting my opinions - where have I ever stated that "every coin graded MS has to look like a 70".
It's becoming increasingly obvious that you just don't like it when an opinion backed up with fact-based research, and logically / respectfully presented, differs from what you want to believe.
I know that you and others who are older "dealers" with storefronts, with safes loaded with ICCS graded coins, have a vested interest in keeping the "myth" propogated, that the sanctity of these grading opinions is beyond reproach.
Read the insightful comments of moderator SsuperDdave in respect to where the future of 3rd party grading is headed in topic I recently posted.
https://goccf.com/t/161550
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Pillar of the Community
Canada
2495 Posts |
I have always been a supporter of ICCS graded coins.
I also acknowledge the fact that they can and do from time to time get a grade wrong.
I have to laugh when we expect the ICCS grading to always (and I mean 100% of the time) grade spot on and criticize them harshly when we isolate one or two coins that are way off the mark, according to us 'experts'.
I spent over 25 years grading diamonds and I know first hand how difficult a task it is to grade (over time) accurately and consistently.
It is a VERY difficult job.
This is why when I get a 'crazy' grade from ICCS, I'm not upset.
It's just a result of one or two people (not robots or machines)being 'human' with all of our inherent faults we unfortunately possess.
Overall, ICCS does an excellent job of grading Canadian coins. They are much more consistent than any US grading company.
I for one am extremely happy they are in business as without them coin transactions would be extremely chaotic.
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Pillar of the Community
 Canada
1461 Posts |
Look Scott, so far you've presented many an opinion (to which you're entitled to) with very little fact, at least within this thread. I've provided ANA guidelines, pictures of other coins and you choose to ignore and/or discredit them. With respect to being a dealer with a storefront, I for one predominantly sell online, either through ebay, established contacts, and other means, the storefront being the least profitable but it serves a valuable purpose. Since I mostly deal in foreign coins, most of my sales are out Canada. Hence my involvement with NGC in a dealer capacity. I'm not at all partial to ICCS, frankly if I had my way, I would only submit coins to NGC from a point of view of convenience, consistency and the fact that I have a few graders looking at my coin to agree on a grade as opposed to one. However from a business point of view, that doesn't always make sense. I'm more interested in TPGs consistency then the grades they assign and a clear criteria under which they do so. If anyone wants to interpret those grades as something else after the fact, so be it. At least I have a steady bar. I have not yet read the article you posted but grading is here to stay. It is an essential part of the global coin market place as it moves more and more online (hence the current price adjustment)and although it does remove some mystery and guess work, it provides a reasonable bar that's a necessity when buying coins as investment as long as there is consistency. As we proved here, it still leaves room within the hobby for a healthy disagreement. Although I really don't understand ICCS' grading in this specific case (one being in my benefit the other not). Both NGC and PCGS are expanding globally and just because it's big business, it doesn't mean that grading is a "sham". Although not all, I have many customers collecting grade ranges of coins who insist on graded coins. Although they differ on TPG preference, if there is a common thread is that they want them graded. Especially at MS65 and beyond.
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Pillar of the Community
 Canada
1461 Posts |
DE59. Well,I may buy the argument of "getting it wrong" if I go back to ICCS and say "Maybe we all had a bad day, let's review the whole thing" after which the two coins (there were others as well) that we talked about in this thread came back "re-graded" more appropriately. But what if they came back the same? Then what? With respect to ICCS consistency, I'm not sure anymore. I think it is on the most part, and one would think that with a single person grading that would be the case however some recent grades have made me wonder.
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Valued Member
83 Posts |
Very well written and logically expressed 
More concise and discussion oriented than previous "arguments" :)
Probably for the most part I'm guessin' we would agree on most numismatic topics related to collecting, buying & selling online, and the general state of affairs of the hobby and the marketplace.
Regarding our opinon on grading & 3rd party grading - well I think we'll just have to agree to disagree - and I suspect we'll be havin' more of these "discussions" in the future.
But I'm enjoyin' it 
Scotts Canadian Coins
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Pillar of the Community
Canada
2495 Posts |
TCHunter.....To answer "If they come back the same grade?"
I have a very simple answer for your question and I've said it before on this website.
The secret is not to know how to grade, but to know how ICCS grades!!
How many times have I heard from collectors and dealers "how can ICCS grade this 1928 5c an ms63, look at all the wear on the beads!!"
ICCS doesn't give a hoot about 'beads', especially when it comes to a KGV nickel.
They look at primarily the coins' fields.
If the fields display an MS quality, then you can be sure, ICCS will grade the coin as an 'MS' regardless of any 'wear' you see on the coin.
Too many collectors grade a coin by THEIR OWN standards or according to some organizations guidelines.
WE (all of us collectors and dealers) have to adapt to the way ICCS grades.
Learning this is not difficult.
It takes repetitive exposure to ICCS coins, a little intelligence and most of all a willingness to accept the fact that ICCS gradings standards is just the way it presently is, in the Canadian market (albeit with all their 'flaws').
Better to jump on a moving train than stand there on the tracks and get run over.
Edited by doubleeagle59 10/30/2013 7:42 pm
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Pillar of the Community
 Canada
1461 Posts |
DE59. Valid points with some light on the subject. The only argument one might use is that collectors shouldn't be experiencing a learning curve via ICCS graded coins that may reach too far beyond "global" grading standards and reference material. Especially in the world of globalization and more recently a more world wide interest in Canadian coins. What you will notice as the world gets smaller, the grading between TPGs will get more consistent. You're already seeing some slow change in ICCS graded coins. That's being influenced by other players growing their market share in grading Canadian coins and the results they provide (good and bad). Be it CCCS, PCGS or NGC. The likelihood of ICCS pulling the PCGSs of this world towards their style of grading is far less likely then in reverse. Interesting stuff.
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Pillar of the Community
Canada
2495 Posts |
TCHunter...Yes, I totally agree ICCS will have absolutely zero influence on PCGS grading standards.
I have to add though, I believe PCGS does not influence ICCS's grading ways either for two reasons mainly.
Firstyl, Brian at ICCS is very stubborn and set in his ways of grading and perhaps because of this, secondly, ICCS and PCGS grade philosophies are totally different and they're too far apart in what they look for in a coin to ever meet in one grading standard.
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Pillar of the Community
United States
4233 Posts |
I found this to be a fascinating discussion, and thank you. As a newbie, I hesitate to chime in, but perhaps the perspective of a semi-dolt consumer is useful. I would look at the 1882 MS-62 and think, looks like MS-63 dinged for a poor strike and a bag mark across the jaw. I would trust a professional grading service to properly grade strike versus circulation. I would look at the 1880 AU-55 and wonder why it doesn't say "cleaned". From the gradings I would presume that since the 1880 strike is superior to the 1882, the grading service tried to give the 1880 a break. How can anybody argue that all those scratches across the portrait and the fields came from the mint or bag handling? At online auction I would expect to pay AU-55 to MS-60 price for the 1882, and I'd be hard pressed to even go EF-40 price on the 1880.
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Pillar of the Community
 Canada
1461 Posts |
Good points. I want to preface that I'm not necessarily defending the coin (I've purposely taken very revealing pictures with a macro lens and lights that show all imperfections, many not really visible even to a magnified naked eye. This thread which started with a grade opinion, veered towards grading standards different TPGs use and their criteria/consistency. You raise a good question "...presume that the 1880 strike is superior..." Do we know this for a fact? Others on this board are of the opinion that the reason why this coin was graded an MS62 by ICCS is that some fields remained in tact and that the wear is irrelevant to the grade. So the question I have to you is what criteria did you use to grade either coin (EF40-MS60)?. Is the MS62 coin in your opinion circulated? My argument used within this thread saying that the lack of fields and the hairlines could have occurred during transport is obviously a stretch. The conversation it brings into play however is at what point is a coin realistically considered circulated vs just handled. Is handling at the mint different from handling at the house? There is a reason why we have 11 MS grades and I've already provided a definition of one here. To play devil's advocate one can argue that the coin was sitting in a drawer for years and someone at some point decided to give it a good "wipe" to polish it up. It's very easy to remove mint luster and cause hairlines on gold coins (Try on a new gold maple leaf, it doesn't take much). So is it now a circulated coin? I would argue not. I would have preferred an MS60 grade noting the hairlines then a coin that has been graded in this way. It wouldn't make much difference in value but would better represent the true state of the coin. Here is a non macro photograph of the coin. 
Edited by TheCoinHunter 11/02/2013 1:26 pm
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Pillar of the Community
 Canada
1461 Posts |
Edited by TheCoinHunter 11/02/2013 1:56 pm
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Replies: 65 / Views: 7,208 |