Ive been noticing latly that PCI is getting really conservitave with their grading. Just to test this, my dealer broke a merc out of an NGC slab, and sent it to PCI. PCI graded it MS-64, NGC had graded it MS-65.
PCI has been getting somewhat tougher over the past year or so in my opinion. You must be carefuly, as with any grading company, especially those who do not have guarantees. But, there are some nice coins sitting in PCI holders, even some undergraded stuff.
Ok, I'll bite here. THe Merc.. Is it a 65 because NGC said it was or did PCI correctly grade a coin that NGC missed on?
OK - but that doesn't mean that PCI is getting conservative. It could also mean they just graded the coin incorrectly - as usual.
Yes of course - there are exceptions to every rule. All of the grading companies make mistakes. But some of them make a lot more mistakes than the others do. The trick is to be able to recognize a mistake when you see one regardless of who graded it.
Go back and read Dave Bowers columns form the last few months. He speaks about picking up undergraded coins in slabs, and learning to have them resubmitted. Interesting, way to make a buck. Or, lose a buck.
If we could just get many of the Coin dealers to break out all of their' MS-65 (PCGS or NGC) graded coins and submit them to PCI and get all MS-64's back, then I could see a windfall here! We could then purchase the coin based on the prices for the coins in MS-64, break them out and resubmit them to PCGS or NGC, get MS-65 grades back and sell them for a fair premium. Yeah, like that would ever happen!!!!LOL Frank
i have seen many (IMO) incorrectly graded coins in slabs from the top 3. too many of the overgrades are key dates and get a bump because they are key. the latest gaffe i saw was a 1945 micro S Mercury dime - PCGS had MS65FB - this coin wasn't even close - MS60 at best and the bands - many, they might have been separated, but fully separated - no way. needless to say, i passed on that bargain. -steve
I have a few PCI slabs. I like the coins and the grading and I liked the discount price to acquire them. None of them were very high priced so I'm not taking a big risk by purchasing them. I have no doubt that PCI isn't as good or consistant as PCGS or NGC because too many knowledgeable people here have said so. However, they seem okay when viewed on a coin by coin basis. So if you run across a coin you want that looks acceptable with a reasonable price, I wouldn't necessarily pass it up because it says PCI on the slab.
Isn't that the same thing I said but with different words ? Yes, they all make mistakes. Undergrading or overgrading - it's still a mistake. And sometimes you can benefit from it, if you can recognize the mistake. I have preached for years that every now n then a gem can be found in any of the 3rd tier grading company slabs. You won't find them often but they can be found, provided you are good enough to find them. By the same token you can find undergraded coins in NGC or PCGS slabs. But in today's world that will happen even less often. Overgraded in their slabs - you don't even have to try hard
GDJMSP It is the same thing, and you have the noted numismatist, Dave Bowers, to back you up. Still, I have seen far more over graded coins than undergraded pieces. (except for the ones that I have submitted--most are way undergraded.)
There has been a lot of talk lately about PCI getting very strict on grading. Even to the point of under grading a point or two. But every one will still try to buy them at a discount because they are in a PCI slab and crack them out and send them to NGC or PCGS for a cross or upgrade.So under graded coins won't stay in a PCI slab long.
The numerical grade isn't the only issue. Anyone have feedback on PCI's performance detecting cleaned coins, altered surfaces, counterfeits, forgeries, alterations, etc. ?
They have a pretty good record when it comes to authenticity. Not so good when it comes to cleaning and altered surfaces.
their is quite a lot of money to be made in this business... if you know what you are doing, but on the other hand if you dont you can make a lot of mistakes. the key is knowing your "stuff" and being able to tell the difference of a coin that could be cracked and resubmitted and sometimes you have to resubmitt a coin several times to get the desired grade these are called "Money Coins" or coins with big spreads.
