Coin grading a scam ?

I'm on your side 100%. Well Said :hammer: :hammer: :hammer:

Ben

 

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Coins4me: Your post is on a subject that I too have not fully grasped. I started collecting coins in 1960. With the advent of grading services I became disillusioned and dropped out of the hobby. Now after about 30 years I found this forum and have reevaluated my original decision and am slowly re-entering the hobby. The one significant thing that has amazed me upon my return is the obvious reliance on the grading of coins by various services. It seems to me that the subjective nature of grading coins has been elevated to a quasi-science that is still based on subjective interpretation, except now you pay for it! I can understand the need to have a qualified opinion on the authenicity of a coin, but I struggle with why an MS-65 costs two to three times more than an MS-64? Can there be that much of a distinguishable difference to justify the price spread?

It just seems to me that the hobby has in general put too much faith into an assigned grade rather than what the coin truly displays. Sorry for the rant, must of hit a nerve!

 

The proliferation of grades is a key reason why I also dropped out of the hobby for many years. I was too concerned that the "my grade/your grade" delta would result in my really getting taken. I shifted to world coins for a while, where things weren't as crazy, but then my interest faded.

I'm back now, of course, thanks to my daughter, but I am still very cautious. We enjoy sharing the hobby, but down at the "low end," which is alright for now.

 

I'm with Drusus & Bone on this one :hail: :hail:

De Orc :kewl:

 

Exactly my point Basx2, Todays coin grading has become a scam. When you state the price spread between MS64 & MS65 is ridiculus, you might take a look at the Roosevelt Dimes where it shows a PF68 at $ 125.00 and a PF68C at $ 3,000.00. I guess the "C" stands for Cameo ??? But come on now, Do you think a proof Cameo coin verses a regular proof is worth $ 2,875.00.

I agree with Drusus when he says coin grading is just another way for the dealers to make an extra buck.
If you don't believe this, watch one of those "Coin Collector" programs on TV and listen to the spiel about "First Strike" coins. What a crock. Do these guys have a special in with the Government that allows them to get the first coins off the die's ? How does someone know that one coin was hit before another ? Furthermore, who cares if it is the first, middle or last as long as the quality holds up.

Dave