Hello All Im just getting back into coins again(so basicaly a novice).Can anyone tell me about graded coins? So many companies? Who should I trust to grade my coins ?I have noticed that some coin dealers place higher stock in some companies and others don't .Also I have noticed in the same type of coin between companies grading differences such as EX-40 in one looks like a AU50 in others?I would suspect that you would want the tuffer graders. Any help or knowledge would be greatly appreciate AADH
It would take several books to accurately & fully explain the differences between the grading companies. But if you take the time to look through the old posts on this Forum you will get a pretty good idea. Short & sweet - not all grading companies are equal. They command different levels of respect as well as prices within the industry. There are 2 grading companies that top the list. NGC & PCGS - but if I had to pick just one it would be NGC easily walking away as the winner. There are many other grading companies which have a lesser degree of respect in the industry. Next on the list would be ANACS & ICG with the others falling below them. But before you go about sending your coins in for grading I would first ask you why you think they need to be or should be graded ? I can easily understand a collector wanting to buy graded coins under certain circumstances - I do it myself. But it is a topic of much discussion as to which coins should be submitted for grading in the first place. Cost is one the issues - if a coin is not worth a certain amount of money it can easily cost you more to have it graded than it is worth in the first place. Establishing authenticity is another issue - but with many coins again this is easily accomplished through other less expensive means. So if you are considering submitting coins for grading I would suggest you share with us what these coins are and perhaps we can share with you some insight.
I usually tell folks to stick with "the big 3" which would be PCGS, NGC, and ANACS. Be aware that there are several bad companies out there too,so be careful. Also watch out for the services that sound like the top services. One example is NTC (NGC knock off) As new services start up on a fairly regular basis,it's best to stay with a service that's proven,like the big 3 I mentioned earlier. ~ Jim
Grading I too was considering sending in a few of my choice coins such as 1921 Peace dollar in my collection -i've noticed with this year particularly -that even though it appears slightly worn on the hair above the headband -some slabbed 21s are graded as high as MS63 by the big guys? I've yet to understand this when I look at them I see "worn" -yet again, the experts grade high MS?? Any ideas why that might be the case with this year coin -which is why I thought of sending mine in - jeff
Howdy Jeff - Welcome to the Forum !! The usual reason a '21 Peace such as you describe is graded as MS is because the majority of the coins were not well struck. So it is not unusual to see one of these with a lack of detail in the hair that is a genuine MS coin. Few of them like this will grade higher than MS64 - many will grade lower. And you need to be aware that even if a '21 Peace has full details in the hair - that doesn't necessarily mean it will grade above 64 - though it might. It depends on the number and location of marks, the quality of luster etc etc. Many things are considered when assigning a grade to a coin. One way you can tell if the coin is worn or an MS coin with a bad strike is to look for a break in the luster in the problem area. If the luster is there - then it is likely MS. If it is not then it probably AU. Something to remember when grading any coin series - not all years of the given series are always graded in the same manner. With Peace dollars for example - a '21 that grades MS64 may not look nearly as good in regard to detail as a '22 or a '23 of the same grade.
Slab graded coins -21 Peace Wow -that was a clear and simplified answer to date on this subject -thanks -i will keep this one for future ref. It never occured to me, though I understand luster -to look for a break in luster in determining condition. The coin in particular is actually dark toned -not multicolor -just an even brown -but it really shows the amazing detail in the coin -especially the reverse -all the feathers are visible and clear -i can find no indication of wear on that side -the front is also very detailed except for the hair clump which appears to be either worn down or squashed for a better lack of description -dont want to fool myself into thinking this one should be shipped off for grading -but the curiosity is killing me to find out how i stack up against the pros in terms of determining a good find. Guess there is no answer there except to take a chance and send it in -chalk up it to tuition expense -but what a blast when i found it! albiet at a coin show.
This is true, the grade is specifically a estimate of the state of the coins preservation. The coins strike is a separate issue. A coin can be MS64 with a weak strike or MS64 with a full strike. In 1921 the Peace Dollar was designed to be high relief, but since the design was difficult to strike up,it was modified prior to 1922 when the coin was struck at a lower relief,which continued throughout the series. Here's a quote from another website "Production of 1921 Peace dollars didn't get under way until the final week of December, and just over a million examples were produced. It soon became apparent that the coin's relief was too high, making it hard to strike and causing excessive die breakage. The Mint corrected the problem in 1922 by reducing the relief but in the process, it somewhat lowered the coin's aesthetic appeal, as well." This makes the 1921 Peace Dollar a one year type coin that should be in everyone's collection! It's always been one of my favorites. Try finding a well struck example!They are quite rare and one of the most beautiful U.S. coins ever made. ~ Jim
One more place to look is the rim of the coin. This area will show scratches and slide marks easily. The 21 dollar is more often found with weak strikes as mentioned. It takes practice to learn the difference between weak strike and circulation.
http://www.camacs.com/coin_grading_services.html#PCGS Pretty comprhensive description given there, less accugrade who is suing everyone for their blunders and whom I would never puchase a coin from.
