Are PCGS/ NGC graded "70" coins actually perfect?

Yes it would, but that was also a modern gold issue that they did a very good job with.

Yes, the 70s always carry a premium over the others.

Not usually. There are cases where they do though.

That's not really true. The system doesn't discriminate against collector coins and circulation ones, grading is grading.

 

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What percentage of 70 graded "coins" will later develop milk spots, making the label an incorrect account of the "coin?"

 

No way to tell. Some will some won’t and you kinda just have to wait and see

 

Not all of us!!!!

 

I do not trust the NGC and PCGS Slab folks... I realize that they're doing their jobs to whatever specifications provided to adhere to. I like the feel of a raw-coin ! But if you're buying a slab, then you don't enjoy that feeling ! My Nephew doesn't understand why coins are slabbed if you can not touch them.... the concept of keeping them in proof condition doesn't resonate with everyone.

 

Thank you for this encouraging reply. When i went to the shop, the owner didn't really give me any obvious attitude, but i just got the feeling that because i'm a young collector with a limited budget, that i'm not worth his time. Asking to see the different coins were too much of a hassle for him. The prices were not really better than prices on ebay. All that plus some other reasons combined just made me really sick and disappointed. Maybe i had a high expectation before i went in, but that experience made me reflect on coin collecting, and i thought maybe coin collecting really isn't for young people.

You also bring up a good point there with babyboomers liquidating their collections. Over the last few years, i have noticed many coins are becoming more available and the prices are getting better and better. So maybe this is a good time to begin collecting. I will try to visit another coin shop outside the city, maybe it's better this time around.

 

My opinion is that the 70 point grading scale ends at 70 and therefore 69.9 is the highest grade obtainable. I don't believe anything can be perfect, but can be extremely excellent or near perfect. I think 70 grades are a market requirement and handed out on a percentage basis to satisfy collector demand.

 

I'm pretty pessimistic about human greed. I don't have a hard time believing just about anything when money is involved.

This aligns pretty well with my take on the matter. I was actually about to suggest that they develop and use a 69.0-69.9 grading system for these extreme recent issues.

Although, I guess sports card TPGs have been assigning 10s forever. Maybe it's not all that strange.

 

It's not just a random percentage basis, that's just the law of averages working as enough are submitted. Some issues far over perform such as the EU set last year which crashes the price and others under perform such as the 2012 ASE set. For basically all of them the populations show a higher 70 percentage than was submitted since a lot of submitters have decided to stop having 69s slabbed.

 

Oh, please do not give the TPG's any ideas like this. There has been talk for years about expanding the Sheldon system to a 100 point grading system. It would be doomed to failure and the only ones to benefit would be the TPG's with everyone who would want their coins graded again for a hopefully higher grade.

 

Decimal grading has been a thing for a while, it just doesn't appear on the labels other than in the forum of a +. Complete decimal grading could be a thing in the future maybe, 100 point grading won't happen no one actually wants that

 

No it's not horse puckey. The huge increase is that it has been demanded of the mints, it's that huge numbers go right from the mint to grading now, it's that 70s are used as a minimum grade so 69s do not appear in population reports on a lot of submissions ect ect

 

For me, the real horse puckey lies in this infatuation with slabbing common modern bullion. Along with first strike labels, famous people labels, dead people labels, auto pen signature labels, etc. All it does is add costs to a coin/PM round that, in the end is a losing financial proposition and making the TPG's rich. I wonder how many people, when it comes time to sell these, will be sadly disappointed when they can only get the PM value. If you like Pawn Stars, watch the show and be done with it, but paying just to get Rick Harrisons photo on a label is a fools errand. If you liked/loved Ronald Reagan buy an inexpensive Mint medal to honor his memory. JMHO.

 

+1

 

A perfect coin would be a 71.

 

If people enjoy it what's wrong with that?

 

The only thing perfect is a new born child. After the 2nd year circulation rears its ugly head. Me being funny i think. Where's Kurt