How on Earth could PCGS have graded this coin problem free?!!!

I was browsing completed auctions on Ebay today and came across the listing attached below. The coin was graded as a problem free MS63 in a new generation PCGS holder. I did a double take when I saw the hideous looking gouges in the field in front of Liberty's face, because at first I thought surely it is a scratch on the holder. Unfortunately the blown up photo confirmed some serious metal movement. Is it just me or is this completely outside the bounds of market acceptability for an uncirculated coin?

Some recent threads have suggested that PCGS is loosening up. I previously thought that even with lower standards the "questionable" calls were at least debatable, but this one makes me want to just turn and run. Besides, this is not a tough series such as trade dollars or early copper where there aren't enough problem free examples to go around. However, the more I think about it the more it makes sense from a marketing standpoint, because now there is an incentive to resubmit problem coins. I'm just afraid that if the standards sink low enough there could be a complete loss of confidence in certified coins.




http://www.ebay.com/itm/1897-Libert...33?pt=Coins_US_Individual&hash=item41863e02cd

 

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I'm not an expert, but that is one nasty scratch. Two, actually.

 

Keep in mind how large the image is. The hits are actually tiny.

 

Beauty marks!

 

Yeah, but even so..

I'd call that a problem coin, no questions asked.

I mean, it's going from her nose almost alll the way to the star

 

Post liquid lunch grading

 

If you think that PCGS has gone off the deep end on this one, just post it (and your negative opinions) on Collectors Universe and see what happens.

By the way, there is a 3rd scratch on the "B" of LIBERTY that makes it look like an "A".

Chris

 

Why couldn't the person who graded this coin, be the one who grades mine?

 

As a comparison, this came back damaged.

 

The difference between those 2 coins is that one looks to be normal, or even heavy marks from circulation... Where the 2 cent piece was intentionally done by someone. I know it's not really a satisfactory answer... But that's how the grading companies see it.

 

60 at best. I know a guy who feeds a lot of coins to PCGS and gets the grades. There have been lawsuits against David Hall for grading his coins differently than the others, but at this point with the CU stock trading higher than ever expect more of these transparent con jobs where problem coins get good grades. With NGC the story is different because they are objective. ICG is cheap and objective and will do attribution and conservation for free when called for. Eventually the market will turn against PCGS. Buy the coin not the holder, but no one is willing really to do that.

 

I am more than willing, Owle.

 

This is what scares me. Then those of us who trusted the grades on the holders will be left holding the bag.

 

Solution: Learn to grade yourself!

Chris

 

I understand that the type and angle of lighting can affect how the coin appears in images, but that just looks like a coin that should have been placed into a genuine holder. My guess would be that if the owner of the coin contacted PCGS about the coin that it would immediately end up in a genuine holder.

 

The coin is correctly graded according to PCGS's Grading standards.

MS/PR-63 Moderate number/size marks/hairlines, strike may not be full


I've seen Morgans with many more marks than this achieve MS63 and not just recently.

As for the marks themselves, I doubt that they are "hits" because nickel is extremely hard and these appear, to me, like a planchet flaw and an annealing mark. Only in hand examination should cause such outrage over PCGS's grading abilities.

Without those flaws, the coin could have graded much higher.

 

You know better than to "armchair grade" based upon a photograph Tom and I'm positive that you know exactly how badly an MS63 coin can look like.



The above was graded in 2011.

 

And the price realized reflects the coin not the grade