Does anyone know...

Can those spots be removed without damaging the coin? It is still a pretty coin. I like the color.

 

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Here is a large cent I own (rev. pics only). It was sent to NCS for conservation and then regraded (I discovered this researching Heritage's sold listings). In the "before" photo, you can see several small "classic" (mounded) carbon spots. Look just to the left of the E in STATES and just below the first stem of the 2nd A in AMERICA. In the "after" photo, you'll notice that, while very subtle gray spots are still visible, the mounds themselves are gone. Other tiny spots or specks on the original coin are gone, too. Notice also that the nice, subtle green patination has not been altered at all.

I would not have considered this coin if the carbon mounds were still there. I have no idea what chemical means they used to "conserve" this coin but I think it's a vast improvement. The luster on this coin is booming.

Before:


After:

 

I don't use this excuse (or believe in the rationale behind it) and in fact agree with you 100%: standards have slackened because collectors have let TPGs slacken. I'm aware of the bull market ending 4 years ago and of prices generally declining since.

But, if a collector wants to acquire a specific piece for his collection, what are his options but to accept current market conditions? If the collector sits on his hands waiting for an outcry by collectors to "correct" current TPG grading practices, he's going to miss a lot of coins, maybe once-in-a-lifetime coins (i.e., for his particular needs). I only want to stress, as I did before and as you point out above, that a collector is foolish if he isn't aware of the larger picture of the ebb and flow of "standards" and "value."

I respect your cautious outlook on grading (and historical experience with grading standards); I'm there; I wish grading standards would tighten and remain consistent. In the meantime, I think if one buys quality coins and has a long collecting horizon, he's going to be able to do okay and weather the fluctuation of the standards. Seriously, what else can you do?

I find it interesting that the same argument can be had about toners, or about PMs or stocks for that matter. Do you buy attractive toners today or sit on your hands because you think the market is overvalued? If you sit on your hands, you're apt to lose a few beauties. No matter how much research you do, it's going to come down eventually to a call.

 

Ouch! Just goes to show that people have different preferences. I'd rather have a stain (or shadow) than a bump on my coin; in fact, it's a deal-breaker for me.

 

The bottom line is, don't buy coins with spots or residue. It's not worth the trouble and you may never get them to look right either.

 

What was the result of the regrading?

 

It goes beyond that, Doug. Your problem is, you're too diplomatic. People don't know how to grade these days because they don't want to know it. They don't want to know it because they get all their grades handed to them in slabs. It's not that they're stupid. Why learn how to grade? Give me one good reason. Tell me what I get back for that effort. And these people who don't want to know how to grade are going to hold these TPGs to their grades? Not hardly.

Do you want to help? Teach people why they should know how to grade. And I'm not talking about taking the easy way out, there. Namely, "Oh, you should know how to grade, because, once in a blue moon, the TPGs will get a grade wrong!" That's not persuasive. The answer is, "You should know how to grade, because admiring the grade is the reason coin collectors are in this hobby." And, the corollary to that, "If you don't know how to grade, you're a commodities investor--get out of my face!"

Teach people why they should know how to grade, make collectors out of these people these TPGs are making monkeys out of, and they'll do the rest, they'll straighten-out these TPGs; I predict...

 

It was in a 65RB holder. Now it's in a 66BN. Here is a pic of the obverse:

 

I agree with everything you've been saying (you noticed that, didn't you? ).

I mentioned I have some other books; one of them is Scott Travers' The Coin Collector's Survival Manual. If you have this book you know he covers the history of coin grading, TPGs and standards fluctuations very thoroughly. He also reprints verbatim the PCGS guidelines for MS and Proof coinage (which I had forgotten until looking through the book this morning—sorry about that; there was no need to ask you to look that info up). I'm sure this is why I decided I didn't need the actual PCGS book.

As you know, Travers edited the PCGS book.

 

Okay, you convinced me! I'm gettin' the book.