I was collecting back in the mid 60's and stopped in the early 70's, 13 years old to about 20 years old. Things seemed simpler then, Cull, Good, VG, Fine, XF, AU, BU and proof. We have those but XF 40 and XF 45 and MS 62 and MS 62+, to name a few. Have we over graded the hobby or does it seem like someone is trying to squeeze a little extra nickel out of everyone? Really, is there a noticeable difference between XF 40 and XF 45? Maybe I am just getting old and grumpy. Any other thoughts on the subject?
For better or worse, there are coins out there that small differences in grade mean big $$$. I believe that is some of what drives this.
Next some group will push to switch to this proposed 100 point scale and then everything will have to be re-graded. Lots of money to be had there.
I personally don't believe our attitudes have deteriorated based on age, but more based on logical experience. It appears to me, a constant collector of certified coins, that because of variable grading standards, coin purchases seemingly are made upon the declaration of "dealers", or TPG. Admittedly, by controlling influences, currently the coin condition isn't the primary factor in the assigned grade. The "market value" has been publicly stated by these same influences, as the often deciding factor for a grade. I'm one who has constantly collected for more than 7 decades, specializing in certain coin types. This week I have 2 $20 Gold double eagles on order, both of the grade MS63. I consider that level transitional between fantasy and factual grading. Both are sight unseen, 1 purchased based on dealer trust, and the other on a "bean". The coins are scarce dates that most collectors would not recognize, and pass. They were offered at what I consider a "fair market" price. My price is normally greater than the average collector would pay, thus my ownership. I also don't "waffle" upon seeing an offering meeting my purchase criteria. Time Will Tell! Rich
Yes and yes. I know I may be ostracized by typing this, but I do feel as if we are over grading. I do believe in the series I have collected, I can tell a difference between lower grades, XF 40 and XF 45 in your example, among others. I do not believe you can definitively tell a difference between MS 65 and MS 65+ and MS 66. I think the pluses are outlandish, especially given the subjectivity of the grade. Personally, if I can come within 1 MS grade of the grade on the slab when blindly looking at the coin, I feel that is almost as good as anyone else can do who are in the general community of numismatics. Yes, I know top tier graders, and even dealers, see coins all day long, have much more extensive practice than I, but ultimately it is going to sit in my collection and I need to be the one satisfied with how it grades, not the representing number on the slab. And yes, I do believe people pay ridiculous money for those pluses and every fine mark between. Just part of the market I suppose.
Curiosity only, since you purchased the piece this week, is it one of the Dome Collection pieces? If so, good on you! Nice pieces, definitely.
Oh my…. I read this thread and had my own “old guy” view I was going to lay out eloquently…… Then I read your post…. And I am fully prepared to back a movement to adopt the new and vastly simplified Miss OKBustchaser grading scale.
No it isn't, but it surpasses Gem grade CACed coins I've seen on eBay. Photos indicate virtually flawless fields/devices. I offered to pay his listed price if he'd pay my sales tax. History Records on eBay indicate that it's the 1st CACed MS63 grade coin of that date sold on the site. The seller has low feedback, assuming may be young and relatively minimal experienced. JMHO
Thank you for taking the time to reply. Given the information you shared, I would agree with the conclusion and add that the seller may have the feeling he is buried in the coin at a 63. I have been arguing with myself all day about whether or not to wallet up on the 08 Dome piece. All things considered, @ 5K, Ms. Sperber is being straightforward about that the lowest letitgo cost. Same as your piece....flawless and would never be confused with an also ran piece.
The grade is just an excuse for the price, so more grades = more price points = more money for the dealer. There is no other reason for 11 different grades of uncirculated than what dealers think they can get you to pay.