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 Replies: 56 / Views: 7,015 |
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Valued Member
United States
115 Posts |
While having a conversation at work with one of my coworkers about collecting & grading we both agree that most buy the slab, not the coin!
One of our more senior guys
whom I was unaware collected for many years, chimed in & blew my mind:
He had a 1884 3cent that he was 110% sure it was a business strike.
its was sent in to PCGS & came back some time later as a proof..
Angry & unconvinced removed it from the slab & resent it in without questioning PCGS first.
It came back graded higher as a proof again.
Now his curiosity was peaked as to why the grade changed from a 50 to a 55.
He once again stripped it & sent it in.
To his surprise it came back the 3rd time as a business strike at 45.
He swears this is a true story.
After doing some research I'm staring to understand that this is very common.
With this known people should think long & heard before putting so much stock in the grading process.
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Bedrock of the Community
United States
10982 Posts |
When he submitted the coin did he list it a proof or a business strike? I realize PCGS should assign the strike type regardless but wondered.
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Pillar of the Community
United States
1101 Posts |
That's a great story and with multiple people doing grading, I could see how that can happen. I feel it shouldn't happen though. Especially with one of the top three TPG companies. |
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Pillar of the Community
United States
1695 Posts |
Ask to see the labels from each grading round. If one were not pleased with PCGS, why would one spend money re-slabbing in three rounds? This sounds a bit fishy.
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Bedrock of the Community
13014 Posts |
People can say whatever they want it doesn't make it true. Plenty of people make stuff up to try and deminish the TPGS because they have an ax to grind against them. No one should put any weight into hearsay stories with zero proof.
Show me three trueviews of that coin being the same otherwise it's just another story.
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Pillar of the Community
United States
8715 Posts |
Interesting. It could have happened, but it is unlikely. Someone re-submitting a coin 3 times to PCGS while they don't like the service sounds fishy. Do you have photos of the coin in each holder?'
I'm not dismissing your friend's story. It definitely could have happened, but I'm just a bit suspicious because there is nothing to back it up.
Edited by SilverDollar2017
05/29/2018 11:12 am
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Rest in Peace
United States
10625 Posts |
Quote:
Angry & unconvinced This may be the basis for his story. Everyone wants their circulated proof 3Cent Nickle to be a rare business strike. |
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Valued Member
 United States
115 Posts |
Nothing to prove this guys story.
He did submit it as a business strike.
He really didn't seem to have an ax to grind with PCGS. He was it total agreement that graded coins bring higher prices & he prefers to purchase graded coins. His problem
was that they are just opinions that vary & can vary greatly.
If you look at enough graded coins, you cannot deny the fact that coins are at times
incorrectly graded.
I look at alot, ALOT of Morgans.
I have seen a 55 look alot better than a 62-63 & vice versa, more often than it should!
It just clearly shows one person's opinion & another person's opinion side by side.
With this being clear it's very difficult to trust what is coming out of there. Though I still buy & trust those opinions.
I think they should have a computer program scan the coins rather than allow unbiased opinions to choose the outcome.
A scan will grade the coins regardless.
With our technology this should already be taking place.
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Bedrock of the Community
13014 Posts |
Quote:
I look at alot, ALOT of Morgans.
I have seen a 55 look alot better than a 62-63 & vice versa, more often than it should! Just because one looks better than the other doesn't mean it's poorly graded. AU coins look better than low MS coins all the time especially MS 62 Morgans which usually have a to of marks and quite frankly are rarely very attractive at all. Simply being a higher grade doesn't guarantee that the coin will be more attractive than a lower graded one. |
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Pillar of the Community
Australia
852 Posts |
I have to agree that many coins in AU55 (and especially AU58) have better eye appeal than baggy and dull low end MS coins.
Sometimes a coin can be borderline MS; so much so that I know of an AU58 coin that was cracked out and resubmitted; came back MS64.
Of more concern to me is that the TPGs can re-evaluate a slabbed coin for a possible upgrade. Now that means that they messed up the first time or it means gradeinflation is skewing the population. So they will make yet more money grading up the coins that they had previously graded and those that don't get submitted again for possible upgrade will fall behind in the rankings.
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Valued Member
United States
115 Posts |
basebal21, why do you sound so angry?
Edited by SuperPoacher74
05/30/2018 07:12 am
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Pillar of the Community
Canada
586 Posts |
So crazy. To me, this only tells me why should we pay money for a slab from one of these companies. If it is for protecting your coins, then I think any plastic slab will do. It certainly can't be for verification and permanently solidifying a coins grade and condition, clearly from what is being mentioned above.
I understand this coming from a one man show company but from a huge organization, it is unacceptable. They should have photos of every coin they grade for reference points and be able to identify coins that have already passed through their hands.
Edited by TheBurnz
05/30/2018 09:58 am
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Bedrock of the Community
13014 Posts |
Quote:
So crazy. To me, this only tells me why should we pay money for a slab from one of these companies. If it is for protecting your coins, then I think any plastic slab will do. It certainly can't be for verification and permanently solidifying a coins grade and condition, clearly from what is being mentioned above.
I understand this coming from a one man show company but from a huge organization, it is unacceptable. They should have photos of every coin they grade for reference points and be able to identify coins that have already passed through their hands. Don't believe everything you read with these stories. Notice how 99.99999% of the time these stories never have any actual proof. They're almost always just someone with an ax to grind or a troll. His last response to me removed all doubt in my mind that it's a troll thread |
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Pillar of the Community
United States
8715 Posts |
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basebal21, why do you sound so angry? I do not see where basebal21 sounds angry. In fact, I agree with him. Quote:
I think they should have a computer program scan the coins rather than allow unbiased opinions to choose the outcome.
A scan will grade the coins regardless.
With our technology this should already be taking place.
A computer program to automatically grade coins would not be a good idea today to replace a TPG. The market does not want strict technical grading. |
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Moderator
 United States
189340 Posts |
Quote:
I think they should have a computer program scan the coins rather than allow unbiased opinions to choose the outcome. We are a long, long way from that happening. |
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Rest in Peace
United States
10625 Posts |
One thing everyone needs to keep in mind, the professional graders are holding the coin in hand before it's even encapsulated when grading. We are grading coins on line from static photos that may be fairly accurate or may be a mile off the mark versus the real in-hand look. I would trust a grade assigned by PCGS before what my eyes may see in a couple of photos.
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Replies: 56 / Views: 7,015 |
Posted 05/29/2018 10:15 am
