MS70 collectors, get ready for a beat down

My first point was that something higher than MS70 might be coming down the pike. Let's ignore the possibility of an MS71. Are you going to argue a MS70+ would not sell for more than MS70? Would you argue a MS70* would not sell for more than a MS70? If they would sell for more, then you will have a flood of older MS70 coins being resubmitted hoping for the "higher" designation.

When this happens, the price of a normal MS70 will fall down to the price of a MS69 today. The price of a MS70 is not for the coin, but so that people can brag to their friends and have their registry sets claim they are "the best". The moment a MS70 is not "the best" it will lose most of its premium. That premium money will move to whatever now is labeled as "best", either a MS71, MS70+, or whatever.

Therefor, my original advice of picking out the best coins in 70 holders and divesting inferior 70's makes sense does it not? Are you going to argue for trying to hold superior coins regardless of what the plastic says? I am just saying such sound advice might have a rich payoff in the near future.

 

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I think there are better ways of making money than buying modern coins graded MS70 on the speculation that TPGs will do this.

 

I'm late to the party, but it seems like the argument here is that there will be thirty (30) grades ABOVE MS-70 in terms of quality, making 70s "less good," or that it will be "the new MS-69."

Why wouldn't 70 be the equivalent of MS-100 on that theoretical scale?

The number 70 is a numerical value, but it's also symbolic of a perfectly struck coin. If you say 100 is the new highest, a 70 on the old system doesn't become "less well-struck." It's still a perfectly struck coin. On a new system of 100, a 70 might be an XF/AU grade, but the old system values would have an equivalent. XF-40 on the Sheldon Scale should be a 70 on the new one.

All TPGs would have to do is clearly distinguish the label of the new system, perhaps with an "X/100" in place of where the standard grade is printed so people could differentiate.

You wouldn't even really need to give all 100 grades. A "1" would still be almost unrecognizable, a "100" would be perfectly struck, and everything else would more or less serve to help the collector conceptualize the condition in a way they're familiar with, seeing as we're much more accustomed to ranking things from 1-100 than any other number system.

 

Also late to the party but exactly this. The top of the scale if the top of the scale they would just be relabed. That said I don't see the entire system getting turned on its head with a whole new scale being used. They will just continue to split hairs more like with the + grading and decimal grading would be a far more likely change.

A + no it wouldn't because 70 is already perfect so you can't get more perfect. They don't even have 69+ as of now. A * probably would sell for more since the star is usually for nice toners and beautiful toning generally brings a premium and sometimes a very significant one.

 

For the newcomers...I think you would be wise to follow the original two points from this thread. Forget if the TPGs will add more grades. Look at your coins and pick the best. Yes, two coins given the number 70 are not the same.

 

Sorta

Sorta along the lines of a complaint I have with the variety collecting niche. A variety listing gets debunked or is determined a duplicate listing of a different die state of another variety already cataloged. This variety gets removed from the listings then upon discovery of an unlisted variety it is cataloged filling the spot of the debunked variety.

So what you end up with is a bunch of slabs referencing a coin a variety it is not. RPM-006 in 2015 may not be the same RPM-006 as listed in 2016. Because RPM-006 as it was in 2015 was debunked and a new RPM discovered and designated as RPM-006.

I say if a variety is debunked or a determined a duplicate listing let it remain cataloged as RPM-006 and qualifying it as debunked or by x-referencing the duplicate listings to each other. Then give the newly discovered variety its own unique catalog reference.

I guess this goes back to the accountant in me. You void a check or invoice – you don’t issue a new check or invoice using the voided document’s number. I can complain about the practice but it is really beyond my control – so I just have to live with this little annoyance with the problem. I just hate having to go back through my collection searching out these coins making changes on all my flips. To be honest I don’t always do it. Therefore I know my collection has several coins in my collection that are incorrectly referenced. Someday I’ll have to pull all the varieties that have had these type of changes out of my collection and re-attribute them.

 

I think a 70 grade is and always be considered a PERFECT COIN. Nothing can be better than perfect. However, the grade point system for mint state 60 thru 69 could use a little fixing. The current + designation is a phantom grade. Plus what? IF the coin is a 67+ grade, then is it still a 67 or is it a 68- coin?

Now to put an accurate grade on a ms coin, they need to abolish the phantom + grade and switch to a more detailed numeric grade such as 67.1, or 67.9. Do this with all ms grades from 60 thru 69 and you have added about 80 more grade designations to the current 70 point scale. This fix would surely take a lot of uncertainty away from the game!

 

That would be a bit too much.

 

PCGS uses it as basically a .7-.9 for the grade. So 67+ would be a 67.7, 67.8, or 67.9 for the grade basically, I assume NGC is the same. But yea they're the borderline coins that on other day could be 68- basically.

 

This point system has existed from day 1. I have always selected coins with great eye appeal and would grade at the High end of their designation. Compare any group of ten of the same coin in the same grade and you can place them in a numerical order of fineness from 1 to 10. I will either buy the 10 or go to the next highest grade to achieve the greatest eye appeal. For example, a grade of 67.1 is far from a grade of 67.9. This is a very important price difference when it comes to very expensive coins.

There is no real need to change the grading system. Any serious collector has always graded their coins this or some other method in order to more accurately attribute a real grade to their coin.

That being said, it is probably not really necessary to change the grading standards as this would surely mean total chaos in the industry.

Don,t fix it if it ain,t broke. Always buy the coin that appears proper for the assigned grade.

 

My name is Bill. I recently committed heresy by purchasing about a dozen Zombucks. Is there an exchange where I may purchase coin heresy absolution?

 

I love morgueanns!

 

Me too. But I didn't get started until Murk Diem.

 

Sorry Medoraman. I thought I was posting that in the Coming out threat. Now I have to make another confession.

 

I am not worried I got what I can afford and am happy with what I got they change the grading really doesn't brother me I think they would be stupid to try such a stunt