Reply to Thread

Message:: [QUOTE="GDJMSP, post: 1074568, member: 112"]No Paul, it's not a lie. But I did leave a word out in the first sentence - almost. Not at all. Never, ever, have I said that every coin they grade is graded incorrectly. Merely that a great many of them are. No, not every coin. But there sure are a whole lot of them. And no it is not just from certain types, it is pretty much across the board and includes examples from every series with the possible exception of post '64 coins. Small problem with that quote - it's not true. No, I'm not saying that the quote is inaccurate. The statement itself is not accurate. And anyone who has ever studied gold or specialized in gold knows it is not accurate. And ya know what, PCGS knows it too. Go to a coin show Paul and actually look at the coins in older holders graded by PCGS. And not just 65's either, look at the 64's and 63's. I have for years, and I did at the show again yesterday, over 100 of them. Ya know what ? Less than 25% of the coins in the older holders showed any luster breaks. Not true at all. There are many Saints that actually are mint state and deserve every bit of the grade. Easy, the same way it was always done. Any coins that have luster breaks anyplace but specific high points are automatically graded as AU.  With coins that have luster breaks on those specific high points only, you look for other signs to determine if those luster breaks could have come from circulation wear. One way this is indicated is by an abundance of contact marks, the kind of marks, and the location of those marks. Luckily ? How is that lucky ? You mean it's lucky because now people can have AU coins graded as MS ? That's the only lucky aspect I can see. Other than it also allowed the TPGs to make all that extra money by having previously graded AU coins to be resubmitted and graded as MS. That's also the only prudent aspect I can see - it was prudent for them, not for collectors because one of these day's the piper's bill is going to come due. And when it does I expect history to repeat itself once again. There will be an across the board tightening of grading standards and 65's will once again become 63's overnight. And the collectors - yeah you guessed it. They'll have to re-submit the same coin yet again to have it re-graded and placed in a new holder because they can't sell it in the old holder. But the TPGs will be smiling as they collect all those additional grading fees. Quite correct. I do agree that wear is wear and that any coin with wear should be graded with a maximum of AU. That is after all the very definition of Mint State/uncirculated - no wear. And that is the reason I disagree with the numismatic community - because they created a blatant contradiction for themselves by allowing coins with roll/cabinet friction to be graded as MS. It also created a built in excuse for the TPGs to do preicsely what they have done. Paul I have always, always, been a fan of market grading. I was even a huge fan of the TPGs for many years and rarely did I ever disagree with their grading. It is only in recent years, after they changed their grading standards that I have become a detractor. And that is the issue - they have changed. Anyone who has been around a while can see that as plain as day. It is only those who are new to the hobby who cannot see it. And 10 years - is new.[/QUOTE]

Create my FREE Account!

Log in or Sign up

Reply to Thread

Useful Searches