I can't believe.......

Discussion in 'Coin Chat' started by M.V, Sep 6, 2016.

  1. baseball21

    baseball21 Well-Known Member

    Under 12k in the PCGS population so not exactly a huge sample size by any means for how many were made.

    This. In the 90s the graded ASEs were no where near as popular as now. PCGS pop reports show they have graded about 2.2 million ASEs and the 1990s combined have seen about 100k graded max. Those coins were in the wild for sometime before being submitted and very likely were never made to the standard they are now anyway
     
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  3. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    How many 70's do you think came out of one of the "Green Monsters"? Next to none would be my guess!

    Chris
     
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  4. baseball21

    baseball21 Well-Known Member

    Probably not many at all after a decade or two of getting tossed around or stackers counting them and playing with them.

    I agree with you, I don't think most of them would have been 70s right off the line much less after 15 or so years of people doing who knows what with them. MS 68s are fairly common in their population report and now you almost have to try to find a 68 to get that grade.
     
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  5. GDJMSP

    GDJMSP Numismatist Moderator

    Well that's the excuse PCGS used to try and get the public to buy into it, but it was a lame and completely invalid excuse.

    The truth is that prior to 2007 PCGS had a company policy that they would only grade a handful of coins as MS70. And it wasn't just ASEs, it was any and all coins. It wasn't that they would not grade a 70, because they most definitely did grade some as a 70, and they always had. They just made sure that there were very, very few of them.

    Then in 2007 they did a complete reversal on their company policy regarding their grading standards for the 70 grade. The statement they gave out to the public only talked about ASEs, they claimed that they had previously refused to grade ASEs as 70's because they were afraid that the coins "turn in the holder" forcing them to honor their guarantee and buy back the coins. They claimed that from that point on if an ASE was worthy of the 70 grade when it was submitted, then they would grade it a 70.

    But something quite different happened that most of the public never even noticed. Yeah, they suddenly started grading ASEs as 70's. But at the same time they suddenly started grading everything else as 70's too. It was like somebody has just thrown a light switch and PCGS 70 coins started appearing all over the place.

    In a month or two it went from a tiny fraction of 1% of a given issue being graded a 70, to as much as 86% of a given issue being graded a 70 by PCGS. And that 86% is a real world number, there was even an article written about in Coin World. In other words there was a particular issue, it was a commem but I can't recall which specific one of the top of my head, and from all of those commems that were submitted to them, and it numbered in the thousands, 86% or of them were graded a 70.

    The year prior, just a tiny fraction of 1% were graded 70's, and a couple months later that number jumped to 86% ! Now that's what ya call a change in grading standards !

    And it wasn't just that 1 issue, that specific commem, it was with all the special issues, the Proofs, the commems, the collector editions. Suddenly, almost overnight, the numbers of PCGS 70s just exploded. 86%, 79%, 60%, the percentage numbers varied, but across the board all special issues being submitted, well over 50% of the entire number being submitted came back as 70's.

    No they didn't do it with regular business strike coins, they weren't that stupid. But even the grades of the business strikes suddenly spiked. It was a repeat of the loosening in grading standards they had in 2004, only this time they took it to a whole new level.

    Now a lot of people will say oh bull, that never happened. Well it did happen ! It's documented. There were articles written about it the coin mags, and PCGS's own published pop reports, and I mean in black and white and written on paper and published in book form - prove it.

    And if you've never seen one, they look like this -

    PCGS1.jpg
     
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  6. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    I sincerely hope that's the case! I bought 10 when they were new, and they're never going to see a TPGS.
     
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  7. baseball21

    baseball21 Well-Known Member

    It is. Not even close to 1 percent have been sent in.

    I'm not sure if they did release a statement or not, but 2008 had a worse percentage of 70s from their population report. 2007 has 20,374 69s and 1,421 70s while 2008 has 305,367 69s and only 12,634 70s. 2009 saw and increase but it wasn't until 2010 we saw the percentages we have become used to today.

    The only modern commemorative in the silver dollars that has a number that approches that is the 2014 baseball. That is the only one with over 50 percent 70s and most of the others as well well under 50 for MS coins. None of the half dollars are even closer to 50 percent from their online pop reports for the MS. For the dollars and half dollars the baseball ones are really the only ones over the 50 percent mark for the whole series. Even the modern proof golds are all under 50 percent and most well under besides the baseball one.

    I'm not sure what coin world was reporting on or if they just went off some early numbers that have changed but their online population report for the commemorative series isn't supporting that claim
     
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  8. SuperDave

    SuperDave Free the Cartwheels!

    According to the PCGS Population Report, they have, in fact, graded one 1996 as MS70. The same number of examples as they've certified from 1990, 1992 and 1993. They gave the grade to two 1994's, four 1991's and five 1999's. Looked at in context, I don't see much of an anomaly here.
     
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  9. brandon spiegel

    brandon spiegel Brandon Spiegel

    thats a great point as well, they do have strict policies regarding this.
     
  10. brandon spiegel

    brandon spiegel Brandon Spiegel

    I gess that MS69 and MS70 coins are so close together, that oftentimes reprieved ms70s have minor hairlines that are only view able at specific angles, making it a 69
     
  11. GDJMSP

    GDJMSP Numismatist Moderator

    No, it doesn't now, but it did then. The numbers were based on the total number of the coins that had been submitted at that time, and the percentages given are accurate.
     
  12. baseball21

    baseball21 Well-Known Member

    Well that just goes to show what happens when people try and force data into the conclusions they want because their populations reports don't support it at all
     
    joecoincollect likes this.
  13. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    I don't know if they're the same as "milk spots" generally, because they don't look the same, but I have seen LOTS of 1996 ASE's with brownish "water stains" on them.
     
  14. Insider

    Insider Talent on loan from...

    Stains ans spots are detracting no matter the cause and lower a grade. That's why TPGS don't guarantee copper or SE anymore. In which case they can assign any grade they wish with no repercussions. :jawdrop::facepalm:
     
  15. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    I do own three slabbed ASE's (gifts), but I've never sent one in for grading or even bought one, so I'm afraid I have no "skin in the game". I do like the irony of the story, though. The idea of having a bullion coin graded is not something I'd be into.
     
  16. green18

    green18 Unknown member Sweet on Commemorative Coins

    It's an absolute waste of time and money, but how others choose to throw there's away is none of my concern.......I do own one slabbed example, but I won that off of Teletrade for points accumulated. Got a Red book too........
     
  17. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    The world seems loaded with ones used as promotions of one kind or another, and I don't know if you find that informative, but I do.
     
  18. brandon spiegel

    brandon spiegel Brandon Spiegel

    woah......
     
  19. joecoincollect

    joecoincollect Well-Known Member

    I'd suspect that part of the reason 70s are appearing more is due to higher standards or better technology at the mint. Furthermore, these 70s coins are from recent decades and have had less time to get banged around or toned harshly. I'm sure 70s are more common with later issues. I think this was implied in another post. One might interpret the increase in 70s as being more accurate grading standards being achieved than leniency. Perfection can be and is achieved in minting coins, and I'd think it's normal to see plenty of these grades out there, especially because many (not me) pay dearly for these condition rarities. This is also an incentive to grade more candidates
     
    baseball21 likes this.
  20. GDJMSP

    GDJMSP Numismatist Moderator

    Joe - PCGS admitted in public and in writing that they changed their company policy and loosened their grading standards for ASEs.

    And yet you'd rather believe something else (improvements at the mint) was the reason for the increase in 70s than you would believe what PCGS themselves said was the reason ?

    Color me confused on that one :rolleyes:
     
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  21. Vess1

    Vess1 CT SP VIP Supporter

    I'd be interested to see a test where 10 of these MS70 ASEs had their labels covered and have PCGS graders sit down and pick out the 2 MS69s out of the pile, even though there were none. In theory, they all should be able to tell you there isn't a MS69 in the group.
     
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