An MS 65 is find first level were strike has a degree of input on the grade, if my memory serves me correctly.
No, it's not just a number on plastic. For the most part they get the big price jumps right. I believe the TPGs are mindful of that when awarding higher grades along those lines. Personally, once I have my sights set on a certain coin, I usually go for the grade that is just out of my reach. Weather it is a MS 65 for one that is a little easier or say a XF45 for a real rarity. What I mean is that when I look at my collection, I want it to represent a challenging hunt, dedication, delayed gratification and monetary sacrifice, which usually results in a more gratifying purchase. Yes, my collection is relatively small, but loaded with coins that make my jaw drop at arms length. I don't get off on just having any coin for the "price" or a buying thrill, its the process of owning something important that usually comes with hard work and sacrifice. I don't desire to have a large collection of easy mediocre coins that are quickly replaced but rather one of wonder and amazement or what I like to call true "pirate treasure". Last FUN show I returned home with only one nice coin (that was a thrill purchase, because I didn't buy much all year in order to afford it) and a few smaller purchases but it was worth it for me. So, when I'm gone, my family won't find a huge trunk hoard of bulk coins but a few 20 slab boxes that will treat them as well as they did me when I owned them. It is a relative point of view as there are many collections finer than mine and some not so much, but it is about pushing the line just a little past comfort that I hope the owners are doing. It (OP) is a decent collecting strategy question, but I answer it with my heart, not a spread sheet. Matt
I always look for the undervalued coin at whatever the grade is. What I am saying is, if I find an MS67 at a MS65 price, I will probably buy it if I can. I also will pick up an AU40 if it's priced like a EF35 or lower. In lower grades, I look for bigger spreads in values of course, my goal being to be at the break even point after paying commissions if I were to sell it the next day. I'll buy even junk stuff, if I can get it for the right price