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<p>[QUOTE=&quot;GDJMSP, post: 2213944, member: 112&quot;]Close but not quite. The TPGs made several promises when they first opened for business. The one thing that both NGC and PCGS swore they would never, ever, do was to slab problem coins. They both broke that promise. As for moderns,&nbsp; PCGS graded moderns from day one, but NGC did not. It was not until 2001 that NGC changed their policy and began grading moderns. Prior to that NGC would not grade any coin minted after 1964. </p><p><br /></p><p>The thing with the 70 grade was different however. NGC was always willing to assign the 70 grade, provided the coin was worthy of a 70 grade. But until they began changing their grading standards, there were very, very, few coins ever graded 70. PCGS on the other hand had a company policy that precluded assigning the 70 grade. In other words they did not allow their graders to assign a 70 grade except in very, very, few cases. It was almost like they had a maximum number of 70&#039;s allowed every year, and once reached no more could be given. Even when the coins were worthy of the 70 they simply would not give it but give it a 69 instead. And of course if anybody ever claimed that they were doing this intentionally, they would deny it and say it was not true. PCGS used this company policy as a means of promoting themselves as being the toughest, the most strict, TPG. </p><p><br /></p><p>It was not until years later that PCGS finally relented because NGC was taking the modern business away from them that PCGS changed their company policy, publicly admitted that they had intentionally refused to assign the 70 grade, and began assigning the 70 grade. In a single year it went from almost no PCGS 70&#039;s at all, to some modern issues having as high as 86% of the coins submitted being graded a 70 by PCGS.</p><p><br /></p><p>That was why coins with the 70 grade suddenly became so common. It was not that the mint suddenly got better at making coins. The mint had nothing to do with it, it was all the TPGs changing standards and company policy.[/QUOTE]</p><p><br /></p>

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