I've been collecting Indian Head Pennies for a few years now (young collector). I haven't had any of my coins graded yet, so I have no first hand experience with how coins that I've had in my hand measure up to the grading scale. However, I do consider myself very familiar with grades in general, and I love collecting errors and varieties. My question is why half the time when I am browsing ebay, I see a coin in a PCGS slab and I immediately think to myself, why in the world did this grade so high? I'm talking about VF-XF graded Indian Heads without a full LIBERTY. MS graded Indian Heads without all four diamonds and what sure looks like some wear to me. I'm aware that there are weakly struck coins, but can they really be that prevalent? Are half of the ebay auctions just dealers that are trying to pawn off their undesirable weakly struck examples? It always seems like the PCGS photograde pictures are thrown out the window when I see PCGS slabbed coins. It's almost like every coin is given 1 extra notch. What looks like a Fine gets a PCGS VF, a Very Fine looking coin ends up with PCGS XF, etc. Anyone have any insight?
Alright, well I wish I had written down some of the more surprising ones that I've seen, but just to come up with a few quickly.. Maybe it is better to start with moderate examples anyway. I can believe that these coins graded accurately, but it still seems like a stretch to me. 1872 IH graded PCGS VF-30 http://i.ebayimg.com/00/s/Njc0WDYzMg==/z/yvsAAOxyaRZR5G41/$T2eC16NHJGQFFhj0ff3UBR5G40r6sw~~60_35.JPG http://i.ebayimg.com/00/s/NzMxWDc4Mw==/z/IEsAAOxyaFtR5G42/$T2eC16RHJG8FGslcqqMyBR5G42IVL!~~60_35.JPG 1869 IH graded PCGS G-4 http://i.ebayimg.com/01/!BjftHWgB2k~$(KGrHqQH-CQEsLl17QsnBLT0Yp5yyg~~_35.JPG 1864-L IH graded PCGS XF-40 http://i.ebayimg.com/00/s/MTIwMFgxNjAw/z/S64AAOxyOalTYGsF/$_57.JPG http://i.ebayimg.com/00/s/MTIwMFgxNjAw/z/KQcAAMXQNo5TYGsO/$_57.JPG
And, sorry please forgive me, I know this is not an Indian Head Penny, but: http://www.ebay.com/itm/1914-D-BUFF...68?pt=Coins_US_Individual&hash=item1c3e668abc Comparing that to the PCGS photograde picture for MS-64, there is just no comparison. That is one of the most boring MS-64 buffaloes I've seen. True, this could just be my opinion and the real fact is that it is an MS-64, but does anyone else commonly run into situations like this?
You are good to buy the coin, not the slab. I mainly collect Indian Head Cents and you are correct, there are many F coins in VF holders, VF coins in XF holders and so on. The rare dates typically get bumped a grade.
My first submission ever to NGC was mostly IHC. I was surprised some graded so high. When I look at IHC on eBay or HA now, I stick to PCGS coins, which at most grade levels seem to me to be nicer coins with more meat compared to same grade NGC examples. So if you think the PCGS coins are overgraded, you might be really shocked to see the fugly coins that make it into NGC plastic. And this is coming from someone who likes NGC!
Here's a good one I found today. http://www.ebay.com/itm/1898-Indian...66?pt=Coins_US_Individual&hash=item1c39cb7ae2 This coin is extremely unpleasant to look at, IMHO.
You do not have to have 4 full diamonds to have an MS coin. Weak strikes will not always show 4 clear diamond and even the first three feathers will be weak. As mentioned grading from pictures can be dangerous and on ebay they better be clear before I even entertain bidding on the coin. Key dates do receive a bump in grade in my opinion - why you buy the coin and not the slab as mentioned. Use the Rick Snow grading guide(or get red book on IHC) - I think in the grading guide he lays out what is choice for a grade.
