Does a coin have to be graded to be considerd MS60. If so why are so many values lower than what it actually costs to pay for the grading?
Well, MS60 is a grade, so for a coin to be considered MS60, someone must be providing that opinion. Coins can be uncertified (as in not graded and encapsulated by an independent company) and still of very high grade, including 60 and higher. And there are also many coins which have been professionally graded and which are indeed worth less than the cost of the grading.
A coin does not have to be slabbed to be any grade. The grade of a coin is the grade it is. A grade on a slab is an opinion of that coin's grade. (An expert opinion if it was graded by a TPG who offers a guarantee.) A coin is worth what it is worth. Grading costs money. Some coins are not worth grading because they are not worth that much. For instance, the heavily-worn 1994-D Kennedy Half that I have carried as a pocket piece for 15 years is worth only 50 cents. It would not make any sense to pay $20 or $30 (plus S/H both ways) to have it slabbed.
often times, representative dealers will submit bulk lots of coins for grading thereby decreasing their cost of encapsulation per coin.
