Market Grading vs. Technical Grading - Round 36!!! Ding!

Nope, it never was a 65. I don't care how "pretty" it is, a technical 64 is still a technical 64 and only someone who wants a very pretty 64 is going to pay for that coin. If the market moves on it, sure the plastic still says 65, but the coin ain't IMO.

 

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Well, that seems to be the bottom line in a nutshell. Maybe grading should be eliminated altogether, and a coin can be described as a $50 morgan or a $150 morgan or whatever its value is. If grading is tied to value, then it isn't grading anymore and all this shows is that the present system is obsolete. Maybe a completely new grading concept is needed that assigns a technical rating, a rarity rating, and an "intangible" rating that can be combined into a total rating that roughly equates to a coin's value. But I have no idea how this can be done. Maybe someone can come up with something. After all, there is no rule that states that a grading system has to be permanent.

 

What's interesting is to see the grades but on the coins by young 10-14 year old collectors (Boy Scouts, etc.) around here who don't have access to the internet on a daily basis -- a couple of these kids possess a few nice pieces (some AU gold and AU 18/19th century silver) which would fetch pretty good money on the internet. But, these kids aren't about to part with their holdings which were usually given to them by their parents or grandparents.

As you'd imagine, I tried to volunteer time with these local Scouts & other interested youths who collected basic US/Canadian Coinage. Once a year a Heritage Festival is held at the Caputa Community Center where some of the kids bring their collections to show off. I'm proud to say that several of them started collecting after our coin club sponsored a booth a few years ago where basic supplies were given away; 2x2s, cheap magnifying glasses, and a few RedBooks.

These kids subsequently grade their coins carefully using the only guide they may have available, usually an older RedBook or 'Coin Prices' (?) magazine. Talk about technical grading, these kids have soaked up the standards for each series and their grading is pretty good IMHO. I suppose If they knew the market value of some of their coins the grades might ease UP^ some, LOL...

Take Care
Ben

 

That would be cumbersome. The coin would not change but its descriptor would. It seems to me it would be easier to assign a grade to a coin which doesn't change (insert debate here) and let the price related to that grade fluctuate.

Some people like to collect a series of coins all in similar condition (e.g., a set of EF-AU Peace Dollars). How would someone assemble a collection of similar condition coins if their "grade" was price? In a set of Peace Dollars the $200 '28-S is gonna look lousy beside the $200 '22-P.

 

Here is a confusing site for sure, especially when it defines Technical vs. Market grading...

http://www.pinnacle-rarities.com/Glossary.aspx#t

Technical Grading
The type of grading which only relies on certain "technical merits" of a coin such as STRIKE and MARKS. As opposed to aesthetic merits such as LUSTER, TONING and overall eye-appeal. For example, a coin may be "technically" awesome but receive a more modest certified grade because the toning is just too dark and unattractive.

Market Grading

It's refreshing to see there is no mention of THE BIG NADA.


http://www.pinnacle-rarities.com/Glossary.aspx#m

 

You are correct, of course. But it seems something needs to be done to both identify the condition and factor in other considerations without just raising the grade. Maybe collectors just need to accept that sometimes a lower graded coin will be worth as much or more than a higher graded coin without messing with the grade.

 

bone bone bone it is not possible to mention a nada

 

ok... I am late to this party, what is THE BIG NADA?

 

According to pinnacle.com there is no Market Grading Standard/Reference
http://www.pinnacle-rarities.com/Glossary.aspx#m

 

wouldn't the PCGS guide to grading and counterfeit detection at least set forth PCGS' standards, which we can agree use market grading? Thereby becoming the defacto standards?

 

Funny you should mention that. Go here for the PCGS glossary, http://www.pcgs.com/lingo.chtml?universeid=313&letter=T. It's backwards. They heard of market grading but never heard of technical grading. Will somebody please find me a glossary that heard of both of these things? Just kidding; think I've had enough...

 

Enough said... The TPG apologists will be along shortly...

 

I'll save them the trouble. Blah, blah, blah... Same old story...

 

Thank You...

 

Meh, I saw a bunch of morgans in NGC holders at the store, and balked. 64? 65? Whaaaaaaaaaat? Most of these would have gotten a 62-63 maximum by my standards. I have an 1899-P dollar that I bought as an MS-60 (obverse is nicely banged up, reverse is an MS 66), but apparently, it could make 63 based on many of the holders I've seen.

 

Jeeez, I'd think otherwise old boy... Big Picture of Course. People equate coins into daily life all too often. Never loose touch with reality...

 

i think we should open a new section called politics in coins and mve this and all related threads there :whistle:

 

The gap between accepting reality and drinking someone else's coolaid is a wide as the Grand Canyon.