Message:

<p>[QUOTE=&quot;GDJMSP, post: 1706353, member: 112&quot;]Lemme tell ya a little story. I used to make a habit of cherrypicking dealers at coin shows. I never spent a great deal of time at it, meaning I didn&#039;t sit at their table and go over the coins with a fine tooth comb. I&#039;d just pick out the coins that &quot;jumped out at me&quot;. My purpose in buying these coins was purely so I could re-sell them and use that money to help fund my collection.</p><p><br /></p><p>Well I was at a coin show one day and I noticed a particular coin on display on a rack at a table about 20 feet away. And yes I mean 20 ft. away. So I walked over for a closer look. The dealer selling the coin was nationally known, had been in the business for many years, was an ex-president of the ANA, and had a good reputation. You would think he would he knew how to grade pretty well. Anyway the coin was a Frankie, a &#039;42-S, he had it marked as a 63 along with his asking price - $80. I pegged the coin as a 65 and bought the coin no questions asked.</p><p><br /></p><p>A few days later I took pictures of the coin, posted them here on the forum, and explained my reasoning for buying it. The next day I contacted a dealer who was a member here at the time and offered him the coin. I sold it for 4 times what I paid for it. Upon receiving the coin he immediately sent it in to NGC for grading. The coin back as a 64.</p><p><br /></p><p>The dealer I sold it too disagreed of course, as did I. So he then sent it to PCGS. The coin came back as a 65, and he sold it for 3 times what he paid for it. So here we have a coin that I bought for $80 that was eventually sold for close to a $1,000. How and why did this happen ? Because I knew how to grade. But even more than that, because I knew how the TPGs would grade, at the time anyway.</p><p><br /></p><p>The point is there is grading, and there is grading, and there is grading ....... This coin was graded by 3 individuals who all knew how to grade. And then it was graded by two TPGs who also knew how to grade. And from among those 5 the coin was assigned 3 different grades, with 3 of the 5 agreeing on 1 grade, and the other 2 disagreeing with everybody else. </p><p><br /></p><p>But if you break it down even further, NGC used 4 graders to evaluate the coin, and they agreed, and PCGS used 3 graders to evaluate the coin, and they agreed. So in total there were 9 people who graded that 1 coin. 1 said 63 - 4 said 64 - and 5 said 65.</p><p><br /></p><p>So what was the &quot;real&quot; grade of the coin ? </p><p><br /></p><p>You figure it out, but I said 65 <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in