Fourth-Party Grading Doesn't Add Depth

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bobby131313 Forum Dad United States 24165 Posts	Posted 06/02/2008 10:08 am Fourth-party Grading Doesn't Add Depth By Bill Waring [a hobbyist from Milwaukee] For those who thought they had seen everything with coin grading, we now have fourth-party graders! Before we had grading companies it was pretty simple. It took two parties for coins to change hands - the buyer and seller plus a price list based on the state of preservation of the coin. Human nature typically had the seller lean on the better state of preservation of the coin (higher value) while the buyer often would estimate a lower grade (less cost). The coin industry promoted the idea of an independent appraisal of coin (third-party grading) because it would simplify coin transactions and even promote sight-unseen trading of coins. It's been over 20 years since companies started for a fee to evaluate a coin and assign a grade. The earliest was a non-profit service by the American Numismatic Association that would return the coin in a simple flip with a card with photograph of the two sides of the coin and a grade assigned to each side of the coin. The back of the card had a long disclaimer stating coin grading is subjective and there is no guarantee that the grade assigns a value. The reality was that a coin grade become a starting point to determine the value of the coin when a price listing was used. In the 1980s this first ANA grading service was quickly followed by for-profit companies that would seal the coin in a plastic holder, or slab, and give on overall grade to the coin. We now have numerous grading companies all using plastic sealed holders. Some of these companies are considered to be reliable while others border on fraudulent with over grading of coins and unwillingness to state what standards they use to grade their coins. In fact, anyone can purchase their own plastic holders and put a name and grade on them. Even among the companies that by consensus are considered reliable, there are coins that seem to be either a little over graded or under graded. Read Full Story \| All Recent News Shop CCF Members on eBay. Report this Post to the Staff

KurtS Pillar of the Community United States 5318 Posts	Posted 06/02/2008 3:21 pm "What I would love to see is a more transparent grading process that really describes the coin and teaches collectors and dealers what goes into giving a coin a grade by expert appraisers." That would sure be nice, as the focus is brought back on the coin. Still, I have to wonder what percentage of high-end slabbed coin buyers don't really care about a coin's minutiae--as long as it makes a particular "grade" and standing in the overall population? However, if a TPG issued a description, I'm sure people would get hung up on words and still miss the overall point? "I would also like to see all of the grading companies grade "damaged" coins." Yes, since they already do in some cases--such as those bright white 19c silver coins. Isn't it a bit conflicting to slab coins with deliberate modification while body-bagging other coins bearing marks from actual circulation? I think this is more of a reflection of TPG product branding than what is actually considered a collector-grade coin. Just my inexpert opinion here, but if a coin isn't a "cull" in the generally accepted sense, by what rationale does it become one to a TPG? Report this Post to the Staff
groganking Valued Member United States 131 Posts	Posted 06/03/2008 12:08 pm I admit that I find the criteria for whether PCGS or NGC body-bag a coin a bit confusing. I happen to like white coins -- I collect Walker halves and Buffalo nickels and at least in the case of Walkers, I tend to purchase slabbed halves that are white, knowing they've almost certainly been dipped at some point. I don't disfavor toned coins but find that they are harder to grade, particularly by only a photo. And the spectre of "artificial toning" also concerns me. I collect first, but I am spending too much money (at least for my budget) to be purchasing things solely on what's pleasing to me. I want to be able to re-sell if necessary. Report this Post to the Staff
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