The buy the coin not the holder theory.. BH did you glass these coins to see if they where true 70's. What if you graded them you found one a 69 or less ( one 1/500 inch defect and your out) presuming you found one would you do send it back for re-holder?( they will not do this. I can tell you first hand), or sell it knowing you are scamming someone. Or keep them and change the grade with a marker".
I can tell you I trusted PCGS impliedly when I bought coins of high grades years ago all the 70 and 69 range. or ms 66+.
I owned two 5th best registry sets one in MS and one in proof "on paper or on computer"
The reason I did this was a 69 is a 1/100 coin and 70 1/1000+ coin ( my observation)..If you have looked at hundreds of proof sets you will be sure of this. Same with the ms coins, I look at a minimum of 500 coins every day to submit. I have submitted 3000+ coins, from over 150,000 searched. Earlier on my percentage of holders was terrible may be less then 50%.
Before submitting I would glass coins all ready in PCGS holders of the minimum grade I wanted..I would look at 20 or so before grading the raw ones..I had the PCGS grading guidelines printed and at my side. I counted nicks , strike, luster and eye appeal.
Comparing the holder-ed coins as a reference (bad mistake)
One submission which had 487 coins in it came back with 450 in a body bag..I truly felt bad for PCGS that they had to body bag that many upgradable coins..I showed them to PCGS at the Baltimore show this spring. (I could not make the show I mailed them to friend who would be there in a booth for them to look at ( making prior arrangement ). He did and I was told to send them back to PCGS. I did not want to do that I wanted to know why they where upgradable from observation they all seemed to meet the criteria for my minimum grade. If one submits coin to
TPG service I find it as important to know why a coin will not make grade as the ones that do. As I said I felt bad for PCGS for my $8000+ mistake..(the cost to buy OBR minus the difference to sell them as only a BU roll). Plus my grading time 250 hours as 30,000 coins where graded down to 487.
In June went to the PCGS members only show in Las Vegas with coins in hand to have them looked at there (prior arrangements where made) I was brushed off there with no answer.
Finally in late July at the
ANA summer session taking advanced grading did I find out the answer from PCGS HAIRLINES. But only that word.
I had these coins with me but was not allowed to have them inspected by the key PCGS representative there. That five minutes of time would have saved all of this.
So I had many graders and instructors at the
ANA summer seminar look at these body bagged coins, and hairlines where 100% present.
Now the debate can be made why did you not know this before taking advanced grading....
I had glassed hundreds of PCGS graded coins in high grades I assumed hairlines where allowed, as many had hairlines.
All world class and experienced graders know hairlines are difficult to see without a glass. A 67 grade, with that grades characteristics by quick inspection, may in fact be upgradable if a glass is used. It takes time to spot them as we all know. (and I now)
From my engineering degree in Material Science and 40 years in the material manufacturing business mostly as an owner.
With the fact that I have taken low grade coins with out hairlines and put them through my local banks coin counter.
I draw the conclusion that hairlines on MS coins are caused by coin counting machines, more than improper cleaning..
I also conclude that some proof coins downgrade occur from mishandling after they are cracked and graded from proof sets..( this is only conjecture) evidence of the coins being tubed (before or after) pre-screening for grades or both causing abrasion in the fields close to the rim. Also nicks, scratches, hairlines along with spots from mishandling. speed kills!
Modern coins (manufactured by modern mechanization) may be more rare than one can imagine, if hairlines count as upgradable.
Posted 12/04/2010 9:28 pm
but I'll let you decide what to send. 70's and 80's would be my preference. You pick the year(s).
