Thanks for the inputs.
I got the following off of the US mint web site:
"Uncirculated Coins: Are hand-loaded into the coining press and struck on specially burnished blanks, yet have a soft, matt-like finish appearance. These coins:
Are made like circulating coins (which are used everyday as money), but with a special process that produces a brilliant finish.
Come with an official Certificate of Authenticity.
Circulating Coins: Are produced for circulations, but those sold directly by the United States Mint are never released to the Federal Reserve Bank. These coins:
Are typically offered by the Mint in rolls, bags or boxes, which do not include Certificates of Authenticity."My understanding is the mint stopped using the 'frosted' look on cents in 2011 and went back to 'brilliant' finished cents.
If this is correct then the NGC coins are from the Uncirculated Mint Sets. It is quite easy to find NGC coins graded both MS-67 RD or MS-68 RD, some with the Proof like qualifiers.
Whereas the PCGS coins appear to be graded circulation coins. There are quite a few available MS-66, not too many MS-67 and I've seen no MS-68's.
What's it mean? For me I don't like water spotted coins. I've roll searched many cents for the last few years and it is very rare to find coins with no spotting. My guess is that the PCGS coins in MS-65 or 66 probably have some spotting.