PR70

I have seen quite a few references to the PCGS green holders being conservatively graded and being good candidates for resubmittals at higher grades. Did they have a period of time where they were even more conservative than they are now about how a coin is graded? Does anyone know why?

PR70

GDJMSP

The thing that even many experienced collectors do not realize is how the grading system actually works. And they don't realize that the standards used by the grading companies are not static - they do not remain the same year after year - they change. It would take a very long time to explain this in great detail - and I'm not gonna do that. But I will make it short & sweet.

The grading sytem that is used today is known as market grading. What means is this - the grading companies will assign the highest grade they can to a coin - but the market has to accept it. Now that may sound confusing but it really isn't. It's quite simple once you understand something else. All coin grades really are - are values.

You see, the grades set the price and the prices set the grades. So the more prices go up - eventually the grades go up too. That's the way it's been since 1948 when the Sheldon grading system was devised. It was based on values - it still is.

So - to answer your question - some of the old style slabs contain coins that were graded almost 20 yrs ago. And prices have gone up quite a bit since then. And of course grades have gone up with them. That is what someone means when they mention "gradeflation". What used to be an MS63 may be an MS65 now.

But - there is something else that many collectors do not know. Most of the coins that were slabbed all these yrs ago in those old style holders and are worthy of being upgraded - already have been upgraded. For the most knowledgeable collectors and dealers have always known about this apsect of market grading. So - the few coins you find today in those old holders - won't likely be upgraded. And that's because they were overgraded when they were slabbed in the first place.

It all goes back to the same thing you keep hearing over and over and over again - and you will continue to hear, at least as long as I can type, you need to be able to grade coins for yourself and you have to be able to understand the various grading standards used by the grading companies.

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National dealer

Could not have said it better. Keeping up with the latest variety listings, such as Vam and Overton are always good ideas. Many of the old slabs were slabbed with what was known at the time.
Like GD said, 90% of the old holders have been looked at and regraded if possible already. Some of the old collections in private hands will still hold out promise.

One suggestion. If you are looking for old holders, run a quick ad in your local paper.
Sample: Coin collector looking to purchase PCGS or NGC slabbed coins graded prior to 1990. Paying better than dealer prices for choice coins.

You would be surprised at how many calls you will get.

PR70

I was just asking to get a better idea of why the green holders were so conservatively graded to get a better idea of the grading history and why it has changed.

Thanks,

PR70