I need to know. Coin grading. NGC

I want to send out 10 U.S. mint proof sets to be graded individually. The sets are 5 coins each so that makes 50 coins. How many do you think I'll get back being pf70? I want to know from someone who's done it. How many coins did you sent and how many did you get back pf70?

Thanks

 

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Welcome to coin talk, What years are they?

 

They are the new America The Beautiful quarter. I also have the 2009 Lincoln pennies. The set. They all are in the original U.S. mint package.

 

I am sure some other members could give you some great tips on how to proceed, I tend to like the ogp more than I care for the slabs.

 

Interesting question. I don't have the experience to answer But I would be interested in what final number is. If you do submit these would you update the post sometime with the results?

As for my uneducated guess, 0-5 and more likely to be closer to 0 than 5.

 

Welcome to Coin Talk...

As for your question there are others that will help more.
But have you sent in any before? I dont think so...what I'm getting at is if you pick through the lesser graded ones and it's the 5 best of 50 you looked at your odds will be much greater to get the top grades.
But if you ordered 5 from the mint and your just sending in what you recieved it will be much less odds.

 

OK so they are from the last two years, and I assume you are just sending in the sets you received with little or no cherrypicking of the sets. I would think maybe 2 or 3 will come back as 70's. if youget real luck maybe as many as 5 or 6. The rest will come back as 68's or 69's and will not be worth what you spent to have them graded.

 

It's very unlikely that you will have any PF68 unless the Mint employee handling them really goofed.

You might want to start learning how to differentiate between a PF69 and PF70 for silver coins since it is likely that you may be submitting more in the future. It is best to view them with a 10x loupe under a halogen (preferable) or fluorescent desk lamp. First, examine the fields. If there is even the slightest mark anywhere, it should grade 69. When you examine the frost on the devices, you'll want to tilt the coins back and forth, up and down, etc. You're looking for even the slightest pinprick of a break in the frost. It will look shiny on the frosted surface. If you see any of these "breaks", these coins should grade 69. If you cannot find any flaws anywhere, then the coin should grade 70.

If you happen to have any sets that don't appear to have any coins that should grade 70, you might want to skip submitting it altogether.

By the way, note that I said "should grade 70" and "should grade 69". Even the graders can overlook something. To me that would have to be the most boring job in any grading service........looking at the same modern coins day in and day out, 5 days a week, 50 weeks a year. Geesh!

This should be a good experiment to test your powers of observation and to see how close you can come to the actual results when you get them back. You might want to record your observations for each design as a reference.

Chris

 

Lol. Thanks for the information Chris. You're right about everything you said. I called NGC today and they told me that the best way to get pf70 and ms70 coins is by trying to get the first ones issued by the U.S. mint. But to be honest you make more sense than them. I noticed that lately whenever a new coin hits the market they are hundreds pf70 and ms70 coins. I wonder why?

 

Doug is right and I agree with him 100%, and the only way you can (almost) guarantee that you'll make money on 70's is by submitting them yourself and selling them while the market is still hot. If you hold them for 20, 30 or 40 years, you will find that there are 5,000-10,000 of the same grade and you'll be lucky to recover the cost of the coin + grading fees.

I noticed that lately whenever a new coin hits the market they are hundreds pf70 and ms70 coins. I wonder why?

That is beause proof dies deteriorate during their limited production use just like normal dies.

Chris

 

My faux pas!

I should have been more explicit.

Chris

PS. You would think by now, I would have started doing things a little slower.

 

Right, you have to pick though a lot of coins, know what to look for, and only submit the best of the best. It would be dumb to submit coins that you know aren't going to make the cut.

 

I spoke to a guy yesterday who have sent coins to be graded by NGC. He said to me that out of 10 coins he sent to be graded only 2 were 70. He also said to me that the more you spend with them the better treatment you'll get. Because so far this year he spent about $6,000 dollars grading coins with NGC and his coins are getting better grades. Also they offer to clean his old coins for free. So I guess it's all about who spend more. The person who spends more money gets better grade on their coins.

 

and the knowledgeable collector doesn't need a TPG to grade his coins for him. Read, discover, think and learn.

 

That's a lot of bull! NGC doesn't hand out grades based on how much you spend with them. In the first place, the graders have no idea whose submission they are reviewing, so it's impossible for him to get the special treatment that he claims. Furthermore, $6K is a drop in the bucket where NGC is concerned. I'm betting that your "acquaintance" doesn't know the first thing about the grading process. As for having all of his old coins cleaned for free, I kind of doubt that, too. After all, NGC's sister company, NCS, has to make money somehow. They probably offered to do that once as an incentive to get him to submit to NCS in the future. NGC did that for me once before.

The last time I submitted a Proof Set, it was the 2005 Silver SQ's because it had the KS error in it. Those were the only coins in that submission. Of the five coins, two came back PF70 ULTRA CAMEO.......the KS Error and the OR. Gee, I only submit about 50 coins a year, and I did better than he did.

Chris

 

I FULLY agree with cmp9ball. It's an insult, for someone like me who picks over his coins for the very best to submit after years of doing my homework, then have someone tell me that they called NGC to find out how to get a 70, and that the more you spend, the better your grades get. Why don't you get some books, read up on the hobby, and LEARN how to get the highest possible grades you can get??? That's through trial and error, not how much you spend, or asking someone how to get them. The OP needs to back off the throttle in a big way.

Better yet, just send in $6,000 worth of submissions...$1,000 a month......tell us how much better your grades get after each month.....sheesh, the gall of some people!!

 

Aside from buying grades, I was a little taken at the rate of 70's graded. One said 2 out of 10, another 2 out of 5. Goes to show 70's aren't all that rare, unless they were cherry picked, but that probably isn't the case with the error set. Anyone know if any of the TPG's publish overall rates for each grade?

 

I really hope this is not the case. This would mean the end of TPGs. TC