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<p>[QUOTE=&quot;Lehigh96, post: 3395001, member: 15309&quot;]I think this particular coin highlights the recent trend by the TPGs to start rewarding dramatic rainbow toning with multiple point bumps rather than a single point which used to be the standard.&nbsp; If the TPGs have expanded the market grading of these coins, CAC may simply be playing catchup with the new trend.&nbsp; The same thing happened with that crazy toned Franklin Half Dollar that sold for over $100K last year.</p><p><br /></p><p>While I don&#039;t believe that the TPGs change their numerical grading standards in cycles to boost submissions, they certainly have expanded the market grading aspects of grading, and boosting the grades for coins with dramatic rainbow toning certainly falls into that category. </p><p><br /></p><p>Personally, I think this new trend is dangerous because it torpedoes the current valuation method for toned coins.&nbsp; In that past, rainbow toning would give a single point grade bump, but since the most prevalent rainbow toned coins are common date Morgan Dollars which are easy to find even at the premium gem grades, the single point grade bump usually had very little impact on the price of the coin.&nbsp; Instead, people would use the price guide for the numerical grade of the coin and they come to a premium in multiples of that price based on the quality of the toning and the assigned grade.&nbsp; It wouldn&#039;t be uncommon for the coin in question to sell for a 5-10X premium at the MS64 or MS65 level. </p><p><br /></p><p>Recently, it seems that the TPGs, specifically PCGS, have started to attempt to value grade these coins rather than simply award a grade bump.&nbsp; So when this coin was resubmitted, they probably valued the coin over $1K, but less than $3K, hence the assigned grade of MS67+.&nbsp; If PCGS is actually trying to eliminate the toning premium by value grading coins, people who are unaware of this shift are going to get buried in coins by paying toning premiums for coins that are several points overgraded, strictly from a surface preservation grade.[/QUOTE]</p><p><br /></p>

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