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<p>[QUOTE=&quot;Cherd, post: 3048271, member: 24754&quot;]As I mentioned before, I&#039;ve never been involved in the graded modern bullion coin market, so I had no experience from which to speak. But I think that there are some good points to be garnered from info in [USER=16513]@Chiefbullsit[/USER] &#039;s post. As it was the coin discussed here, I looked up the PCGS population for the MS and PR versions of the HoF coin:</p><p><br /></p><p>Proof</p><p>[ATTACH=full]762138[/ATTACH]</p><p>MS</p><p>[ATTACH=full]762137[/ATTACH]</p><p><br /></p><p>Fully 82% of the proofs submitted came back as PRDC 70 , and 76% of the uncirculated coins came back as MS 70, and Chiefs submission success rate (22/27) was in the same ballpark (81%). So, assuming that people are only submitting coins that they think could possibly come back as 70s, it looks as though people can only agree on the 69-70 threshold at about an 80% clip. This isn&#039;t surprising. When you are dealing with extreme cases like this, the quantitative difference between the two can be imperceptibly small (If there is a quantitative difference at all).</p><p><br /></p><p>I think that this also demonstrates why many feel that this whole MS 70 discussion is kind of a non-issue. When coins grade 70 at this rate, then I&#039;d assume that a worthwhile submission has to be either 70 or bust. Do 69s even carry a premium over raw coins? And, do 70&#039;s carry a premium that even covers the cost of the bulk submissions? And if they do, that leaves the question of &quot;Should they&quot;?</p><p><br /></p><p>The grading system employed by the TPGs was designed and intended for business strike coins that were created for circulation. It wasn&#039;t intended to characterize coins minted with special care, using specially prepared dies, and created under idealized conditions. The simple act of a coin popping out of a die and tumbling into a hopper with all of the other coins would impart imperfections that would negate the possibility of a 70 designation. I honestly believe that the originators of the grading system never actually intended for a grade of 70 to be used in practice, it was just supposed to represent the theoretical upper limit of the scale. When we then introduce expectations that it should be used for some coins, that&#039;s when we run into these blatant inconsistencies.[/QUOTE]</p><p><br /></p>

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