How Can This Be An MS 65.

Prior pence. Agree....even though there are super nice fields and a pleasing look, when you are drawn to that cheek gash you have to wonder. A coin for someone who buys the holder not the coin. IMHO a 64 at best.
The grading on dollars has been slipping for some time now at ICCS. Makes one believe they have adapted to PCGS and NGC market grading.
If there was a market for Canadian Coins right now , there would be a lot of opportunity to make money off of resubs from older 2 letter holders.

I agree Pacificoin I have a number of Two digit holders, have to take a look. May be time to send some borderline gems in I am also trying to understand as I have a number of QE silver dollars from that era that could match that example or better, I have often in my mind relegated them to bullion value. So I look with a new eye. Am I correct in seeing what looks like a weak strike (flattened hair)?

@Lucky Cuss
Most coin dealers and buyers/sellers go by the Canadian coin trends newspaper which has these prices for a 1966 Large beads.
MS-63 $29, MS-64 $60, MS-65 $650 (of course I'm talking CAD)
I agree the price difference is crazy and it's all up to what you're willing to pay.

I would not even pay 63 money. You could look through dealers stock and cherry pick better for about 17 to 18 dollars CAD.
@Priorpence the hair bun weakness is a very common occurrence in the 1965 through 1967 Large bead bust. Probably a result of too high of a relief. The striking difficulties continued with 1968 nickel dollars as well.
Full strike 1965 through 1967 are very hard to find .

MS63 to MS65, ICCS basically grades the fields only of the obverse only.

Remember 'only' this and you'll start understanding their grades.

Playing devil's advocate..

The coin could have an outstanding strike and lustre, enough to make up for that focal point mark, and still be a "true" MS-65. Impossible to tell by that scan though.

The 63 limiting factor area:



I would never pay 64 money on this one.

IMO

It's impossible to judge these fields from a dulled out picture. Undoubtedly the eye appeal is poor and PCGS would penalize this coin because of its methodology of larger emphasis on effigy but it doesn't necessarily mean this coin is over-graded based on current criteria ICCS uses. Not paying the price on eye appeal is one thing, graded is another. Last but not least, later year common dollars in MS65 are currently selling in the 40% range at retail (even lower for 50 cent pieces. $300 would only be starting price for a good coin in this market and eye appeal would decide how much below that it would go.