This article I read on coin grading is interesting. I'm definitely not a numismatics expert, but I have quite a few MS-70 American Platinum Eagle coins and I'd like to know more about their grading standards. I buy my coins from a very reputable coin dealer and I've gotten some very good deals from him. Hopefully coin grading won't go the way of the stock rating services like Moodys and Fitch. It's seems very hard to find a person or organization with any integrity these days. Enjoy the article....
Hello Poppa Bear, I seem to be commenting on this subject a lot as of late. For starters I am NOT a modern coin collector where the technology is so much better. However, I work in a coin shop and we slab a lot of modern coins. I often get the call to pick out the "best" for grading. I am in no way a professional grader and actually have pretty horrible vision but I know how to look at a coin for the most part and employ magnification. Here's what I see and usually with NO magnification. I have yet to see what I would truly consider an MS70 coin. I can ALWAYS see some flaw no matter how small in my book that makes a coin not meet the MS70 definition. I have a harder time with proofs honestly. I figure there are PR70 coins but MS is a different animal. Now, I will add, that the coins I choose do come back as MS70 on occasion. We sent in 5 silver eagles at one point that I had picked out and 4 came back as 70. Sorry, I didn't see a 70 in the lot. Of course now they're in plastic and got more money. If I ever see a coin that I think merits a MS70 I might just buy it raw - then wait until they raise the scale to MS75. then I could sell it at stupid money as a 71 or higher.
LOL. I hope you do find some that meet your 70. I also hope they never change the scale to 75, although we might see some 69.6 or 69.9's in a new scale.
Not to be a downer, but seventy shmeventy. Not a place to put your money, into non rare registry coins. You'll get so much more just buying them in mint packages and save that registry fever cash for rare or scarce coins. Those are the ones that will ride along with inflation and hold value. Look at the high leaf quarters, the Godless dollars, they are fad coins. Read some Dave Bowers, I think he'll agree.
Probably 3 other people are answering also, but the PR - > PRoof and MS->Mint State. Proof coins are produced under specific high standards as "presentation" pieces. MS coins are minted for use in commerce and can be almost as good as PR, but usually not. However, since they are not expected to be much from average, a MS68 is unusually great, whereas a PR68 may be a little below standards. IMO. Jim
