Why on earth did PCGS slab this?

AU-50.

But my 1st question, I wonder if it's Maundy? It's wonderfully toned like a Maundy might be.

However, there is a nick in the rim, and some kind of damage in the neck area. Astonishingly, this received a grade without "details".

 

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All I know is that you are one of the few on earth that have the skills to crack it out of the case.
I saw your video, it was beautiful.

 

Looks like a details to me.

 

It's net graded.

 

I can't speak for modern or supermodern coinage, but it's not uncommon for earlier planchets (especially copper) to have intrinsic defects. As you know better than I, this doesn't affect the grade. PCGS does seem, however, to be a "work in progress" when it come to grading older "world coins."

Here's a nice piece with a planchet defect graded by NGC:

 

I guess PCGS didn't think the damage was bad enough to warrant a net grade . It's close but neither do I .

 

i seen worse

 

Show the reverse , to see if it's Maundy .

 

http://www.ebay.com/itm/390650753440

The nick on the rim is clearly shown in the listing. Second photo, in case you never bother to look at the photos. Details in the strike look too weak to be Maundy standard. BTW, rather than consistently overpaying for GB coins, check out Tony Clayton's site:

http://www.coins-of-the-uk.co.uk/coins.html

As for the question on PCGS choosing to grade the coin, the nick, though deep, doesn't appear to reach the field of the coin, so they could grade it as acceptable to circulation.

If you like the color, you should bid on this lot:

http://www.ebay.com/itm/151123604907

Even though the nick is deep enough to get "details" graded (and it probably would be a VF coin, at that), being on the reverse, it might be tolerated. You get a better overall coin (eye appeal) for $5 less and get three additional coins for "free" in the process.

 

What inquiring minds want to know is why you wasted your hard earned money on that POC? Please don't tell me you spent your money to educate us.

 

the simple answer is..................dollars and cents.

 

To clarify your terminology - they didn't think the damage was bad enough to warrant a details grade. Net grading is when it should be grade X but has some issue and instead of being put in a details holder, it's given a grade of X-n.