A PF70 is supposed to be a perfect coin without any flaws at all, but this isn't always the case. Sometimes, very minor flaws can slip by the graders, and a so-called PF70 coin should really be a PF69. Even the slightest pinprick in the cameo is cause for a reduction in grade. With that said, I usually tell beginners that if they can't see the difference between a PF70 and a PF69, then they are better off buying the PF69. Why? Because the price differential is usually so great that you can buy more coins for your money. Chris