This is something I'm a bit confused about. As far as I can tell, the + indicator is used by both PCGS and NGC to indicate a coin that is on the borderline of reaching the next higher grade. The star indicator is used exclusively by NGC to indicate superior eye appeal. But isn't eye appeal part of the actual grading process anyway? So couldn't a + be due to superior eye appeal? And what about CAC? Is a CAC sticker considered more desirable than a + designation? How much of a premium would you estimate a CAC sticker adds? What about a gold CAC sticker? Sorry for all the questions, I'm just trying to get my head around all this stuff.
PCGS/NGC "+" means just what you said - the coin falls between grades. Another explanation I've seen is that the obverse is clearly one and the the reverse is clearly the next (or visa versa) so they split the difference with the "+" grade. NGC star ratings are reserved for coins with exceptional eye appeal - great toning, etc. Yes this is part of grading, but the star designation cements it as being a lovely coin. CAC is a third party grader that more or less checks the other TPGs. A CAC green decal means that they independently agree with the grade given. A gold decal means that they believe that the coin is undergraded. CAC is more or less a second opinion, so when you buy or sell a coin, you can be confident in the grade presented.
Here is an example of each, using some coins from my Morgan collection: Plus (not quite a 66, but definitely higher than a 65): CAC: Morgan star--
A plus coin is high end for the grade. a star is given to coins with high eye appeal - often for attractive toning, booming luster, or coins that just miss the pl or dmpl designations. A star can be given to a low end (for the grade) coin. A coin can be given a plus and a star. CAC does not consider stars and pluses when evaluating a coin. A green sticker is given to coins they feel are solid for the grade or high end for the grade. A gold sticker is given to coins they feel are undergraded by one or more points. But to get a gold sticker, a coin needs to be solid for the next grade - not just squeak into a higher grade. CAC stickered coins may bring high premiums to series that are known for overgrading, such as gem Saints. Also for coins that are known for doctoring, such as early gold and bust dollars. CAC can also help for buyers of expensive toners. They won't sticker coins they feel have been messed with - artificially toned, puttied ect.
It seems that you have a pretty good grasp on what these things mean even if you think you are confused. Here are some links that should help you. + Designation The + designation is offered by both NGC & PCGS and indicates that the coin is high end for the assigned grade. These coins have been referred to by collectors and dealers for years as Premium Quality coins. Two Leading Grading Services Announce "Plus" Grading NGC LAUNCHES PLUS DESIGNATION * Designation The * designation is used by NGC to denote exceptional eye appeal. While it is possible for eye appeal to make a coin a premium quality coin for the grade and possibly deserve a + designation, that is not the sole purpose of the + designation and when you find a coin that has such exceptional eye appeal that it becomes PQ, it will bear both a + and * designation, see example below. The star designation is also used for coins that miss CAMEO or DEEP CAMEO on one side of the coin, see link below. Here are some links regarding the * Designation: PLUS & STAR DESIGNATIONS The "Other" NGC Star Designation CAC Stickers The CAC Stickers and their effect on the market are a little more complicated and have been discussed at length on all of the coin forums. Basically, the green sticker means one of two things. The coin is either "premium quality" or "solid" for the assigned grade. We have already discussed that PQ coins are assigned + designations by the grading services and CAC refers to these coins as "A" coins. Their entire goal is to separate the wheat from the chaff and reverse the years of gradeflation that has resulted in many low end coins for the assigned grade. CAC uses letters in their incremental grading system. The "A" coins are premium quality, "B" coins are solid for the grade, and "C" coins are low end for the grade. A coin that has a green sticker must either be an "A" or "B" coin. The gold sticker is even more complicated as CAC has removed any talk of it from their website. Basically, the gold sticker is used to denote that the coin in question is undergraded by at least one point. Here is a link to CAC's website for more info on the subject: Comprehensive Market Study Reveals CAC Price Premiums I hope this helps clear things up for you! Paul
I was just about to ask what the + is all about, after seeing an MS-66+ Walker auction on ebay, yesterday. Thanks! Thanks for the explanations, jester3681 and Lehigh96.
So if you have two identical coins, one with a + designation and one with a green CAC sticker, which would typically demand the higher premium?
There is no easy answer to that question. Since the CAC sticker applies to "A" & "B" coins but the + designation applies only to "A" coins, the average price would probably be higher for coins with the + designation. But If you have a CAC coin that is an "A" coin, it would compete very well against a coin with the + designation. And you have entirely ignored coins that bear both the + designation and a CAC sticker. The only way to understand the effects of both the + designation and CAC sticker on market prices is to look at a statistical analysis on the subject. I don't know of a study on the + designation but CAC completed a study and they offer to send you a PDF file of the study on their website. It can be found in the link that I provided in this thread. If you are looking for a clear answer that one is more valuable than the other, I think you are going to be disappointed. And even there were a clear answer, there would still be individual coins that would be exceptions to the rule.
Does CAC sticker plus coins? If so, what does that even mean? Is a 65+ CAC just a really really high 65, or is it a 66?
Yes, CAC does sticker + coins. As previously stated in this thread, it does not mean that CAC agrees with the NGC or PCGS + designation. The + designation means that NGC or PCGS thinks the coin is PQ (high end) for the assigned grade. The CAC sticker means the coin is either "A" (high end) or "B" (solid) for the assigned grade. The CAC sticker is not a confirmation of the + designation. It is entirely possible that the CAC can consider a + designated coin a "B" coin for the assigned grade by their standards. Please do not mistake the fact that a coin that has both a + designation and a CAC sticker for a coin that is undergraded. That is not what those designations mean. That said, those coins would be the most likely candidates for an upgrade but would probably end up as low end for the higher assigned grade.
You've received excellent information within this thread. One thing to keep in mind, however, is that the + designation has only been in use for a few years at PCGS and a little longer, if I recall correctly, at NGC. Additionally, the * designation at NGC might predate the use of the + by only a few years. Therefore, if you had a coin in a holder that was certified several years ago it might be extremely high end for the grade or wonderfully attractive, yet it might be devoid of the + and/or * because they were not in use at the time of certification.
Good point Tom, IIRC the effective start dates of the designations are as follows: NGC Star Designation: Early 2000 CAC Green Sticker: Late 2007 PCGS + Designation: March 2010 NGC + Designation: May 2010 It is worth mentioning that both services offered edge view holders in 2007/2008 but I don't recall when they made it mandatory.
PCGS used the edge viewable holders on coins as early as 2007/2008, but it was restricted almost entirely to the Presidential Dollar and Native American Dollar coins. My memory is a bit foggy, but PCGS started holdering coins in only edge-viewable holders (no other option) at their Paris office first, and then moved to all edge-viewable holders at their USA office I believe by late (October?) 2011.
