Do you believe in Market Grades?

I am curious as to how many people believe in the use of Market Grading.

I see market grading as a way for the big corporations to overgrade coins and yet have them accepted by the hobby.

The standards or requirements needed to meet a grade should never be lowered.

My humble opinion.

 

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I Just Want to Get What I Paid For!

As a collector I want first to find what I'm looking for then get the best buy and feel good about the money spent and not feel ripped off. If purchasing graded coins (from the reputible companies) ensures I get at least the grade I want, then the service is well provided. It's companies like NTC and SGS that undermine the standards. I love the coins I've collected that I can handle "with gloves" and also display in any way "I" see fit. Slabbed coins some how leave me with a little bit of a non-accessable feeling with the coin.

I love MS coins and if PCGS or NGC say they are MS65 I tend to agree when I see the coin. I may not have their expertise at grading but I'm learning.

When this system of grading is explodited for the sake of a profit then all bets are off and it's again up to the collector to know coins well enough to not get ripped off in the long run.

 

Market grading isn't something new so there isn't any reason why someone shouldn't use it.
Where I'm learning grading still and love to learn it "hands on" I'll learn more of the new market grading then I would have if I just read a book...

Speedy

 

Any grader people are human, I see and find ALOT of undergraded and overgraded coins in slabs. I buy the coin to what I feel makes the grade, and wheel & deal then with the seller or dealer.Iam not real familiar with this market gradeing thing you speak of?, maybe its just the average grade in bulk deals???

 

Market

I agree with Walter, As far as third party grading goes I thought it was great when it first started. I had collected in the late 80's and 90's but I stoped for a long time as the dealers at the shows I went to at the time really sickened me by the altered non slabbed stuff they were selling. Now I consider myself more educated and buy like Walter said, if I feel the price is fair and I am not getting ripped off then I feel good about the purchase. This goes for high and low end coins. I try to stick to low end for most of my collections because I feel then that the market is not getting the best of me. As for slabbed coins I have a few dealers that are very fairly priced whom I buy from.

JMO Tony

 

I can remember when a person would send coins to ANACS and when graded and returned, you'd have a photo of the two sides of the coin. The coin was in a flip with the pictures.

Guess I'm old school and don't feel standards should be lowered to push a coin to a higher grade.

 

graded coins

i don't like slab coins. i don't buy it. i don't believe them. buy direct from the u.s. mint. you got first hand owner, new and brilliant, encapsulated, with sleeves, boxes and certificate, issued price, select the design that you like, and its current issued. remember, you are only a collector. not investor. no intention to sell them. not thinking of making money.

 

Example...

Hope I don't offend anyone with my posts to these boards. I like to make new/young collectors research and become award of important information before they buy the first coin.

Here are three MS64 Franklins... same year... same grading service...



"Buy The COIN, Not The Slab" are words to live by in this hobby.

 

After thinking about this pretty carefully, what I believe in and practice could probably be called "wallet grading," instead of market grading or even technical grading. I know approximately what I'm willing to pay for a relatively small group of coins I'm interested in owning, in approximately the condition I'm interested in acquiring. When a coin has a large jump in price in its stated grade from the previous grade, I'll pass or look for an example of the next lower grade. My personal opinion is that collectors are too willing to pay up for relatively slight improvements in condition.

I'm not sure how wallet grading compares to market grading.

 

MARKET - means this coin is not a true MS64 according to the ANA Standards or my standards. I don't own and would never buy or sell a coin like this.

GOOD - means this coin will go MS64 and I would have no problem in backing a sell of this coin.

TRUE - means this coin meets the ANA Grading Standards as well as my standards for a full MS64 coin and I would be happy to own this coin. I have many MS64's and MS65's with and without Full Bell Lines which would meet this standard.

Point is... they book the same but in no way do they technically grade the same.

 

I have higher standards for grading coins and it's not possible for me to accept any less. I don't believe a coin can Grade MS64 with nicks on the cheek of Franklin or on a Morgan and a coin can not Grade MS65 with multiple marks in the fields, ETC.

If the market graded Franklin above was raw, I would sell it as MS60 at the current value.

 

Be back later!

 

The ANA adopted the Sheldon Scale prior to any published books. Even prior to the First Edition of the Official ANA Grading Standards in 1977. In 1986/87 is when the PUBLIC became more away of this scale due to PCGS and NGC being born. I use the ANA Grading Standards as a guide only.

I do know that I need to rethink my standards as far as coins I sell. No wonder a lot of past buyers were happy when they submitted coins purchased from me and received a higher grade than I sold it for.

At least I started an interesting topic.

And, I'm going to start another one now.

 

Who believes in MS70 and PF70 grades?

 

I don't!

Speedy

 

I hate, and I mean HATE, the present grading system of coins. I also hate slabbed coins. I'm from way, way back when you looked in a Red Book and saw G, F, U and P for all coins. When I was a kid that's all there was and I'm to old to change. I put all my coins in Whitman Classic Albums so what good is it for me to buy a slabbed coin. When I have I just cut them open and put the coin in the album where it was ment to be. I've been collecting for well over 50 years and if all my coins were in slabs, I'd need a building the size of my house to put them all in.
Unfortunately we all must change with times and fighting the present grading system is futile so I do go by it when at coin shows. But I still walk away from tables with all slabbed coins. I know it pays to buy valuable coins in slabs knowing it is real and not counterfeited but I think some of us are really getting nutty when I see coins from the 1990's and up already slabbed.
AHHHH for the good old days when life was simple.