Did PCGS mess up (edited)?

This, my fellow enthusiasts, is a plate coin for 1947p Jefferson nickel in Full Steps condition. Now i didnt go through coin facts and cherry pick the worst example. I own a full step '47 & thats how i stumbled upon this. Its graded MS67 FS and for the life of me, i cant figure out why. If it had real nice toning/eye appeal i could maybe see it.
So i ask thee? Did PCGS screw the pooch ??? What sayeth thou ?

 

Log in or Sign up to hide this ad.

@heavycam.monstervam

Maybe PCGS has reduced their standard to 4 steps.

Chris

 

@Paddy54
@Lehigh96
@gbroke
If anyone can think of the other resident nickel enthusiasts please summons them or disclose there name so i can.

 

I could be wrong about the FS aspect of the coin. I was also referring to the superb gem grade it was handed. L@@k how marked up that thing is!! With 95 million minted, i doubt its a coin thats graded on a curve either.
$2,350 in MS67 FS according to pcgs

 

Looks like I need to send my nickels into PCGS!

 

And have them 'redundenced' by CAC.........1877 Indian Head Cent convinced me earlier........

 

NGC is even worse in forgiving marks in terms of grade, but PCGS is more forgiving of hits on the steps IMHO.

 

Lehigh explained this to me before, and I was baffled by it, but I sort of understand it (I think). On the cheek, often there is roughness on the planchet and the pre-strike marks are not removed upon striking. These marks are overlooked or not weighed heavily against the grade of the coin. Did I do a decent job in explaining it @Lehigh96 ?

I don't care for the practice and (1) find it hard to consistently distinguish between pre strike and post strike marks and (2) regardless of origin, higher graded pieces supposedly exhibit superior eye appeal. With this said, my personal standards are much more rigorous on all of the modern coins which seem to be graded generously IMHO (like the PCGS MS68 FB Roosevelt Dime that was discussed on the NGC website a few months back that had a huge hit on the reverse torch and some organic residue on it).

 

How many steps do you think they'll give this one? 4.5?

 

Is that a huge lamination?

 

I don't see why toning would factor in the grade.
As for the OP there are some nicks on the obverse, and the detail is not strong enough on the reverse for me, to be a 67. Steps are clearly 100% NOT FULL
as the right side of the steps show. And there are a lot of hits on the steps and the reverse. MS 63. The obverse would be higher but the reverse takes it down.
THIS IS ONLY MY OPINION. PLEASE DON'T COME HAMMERING AWAY AT ME IN YOUR NEED TO PROVE MY OPINION WRONG.

 

That thing is wheelchair accessible!

 

That definitely does not look like full steps.

Sent from my ZTE B2017G using Tapatalk

 

I see it as a 66 but PCGS had it in hand. Most of what look like hits on the coin are actually chatter that the strike did not remove.

 

I don't see full steps. Too many hits on them steps.

 

I agree with your assessment. Depending on the luster, 65+ or 66 for me, but definitely no FS.

 

It is borderline 5 steps on my screen, The area on the right isn't mushed, it is the result of a light strike.
Imo, There is enough lustre on the surface of the coin to warrant a high grade . It has good Eye appeal, until Magnified. But, I bet there are better coins out there for the grade.

 

This is not surprising at all. I think a lot has to do with "who" submits versus "what's" submitted.

Here is a 1964 Washington Quarter that sold recently on Heritage. I had made a thread on it before it sold. The Quarter actually sold for 1/5th of the PCGS guide. I think people were smart and bid on the coin and not the holder.

For the record this is the Plate coin for 1964 at MS-67+ and is supposedly tied with 3 other examples at top pop.

 

What you are referring to is called annealing marks and they happen before the coin is struck in the annealing process. The coins are often spun in a giant heated drum to soften them before striking because the CuNi clad planchets are very hard. That being said PCGS and other grading companies use this as an excuse to over grade coins in many series, most notably the Ike dollar. I simply do not agree with the practice and simply do not buy into the whole annealing thing because these coins were probably left in the annealing drum for more then one cycle. They are simply less desirable and unattractive. Ill post an example below of just how far they are willing to take it in my opinion PCGS,NGC and even CAC are doing this hobby no justice.

 

Make my 75 Jefferson look that much better for full steps ...