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<p>[QUOTE=&quot;GDJMSP, post: 904231, member: 112&quot;]This is a common misconception. What people always forget is that prior to 1977 the grade MS/PF70 did not even exist. It was only after the ANA came out with their first set of grading standards that the grade even began to be used. And at that time there were only 3 MS grades - 60, 65 and 70. That&#039;s it.</p><p><br /></p><p>You must also remember that the coins that were graded as 70 always sold at a substantial premium to the rest. And that premium was proportionally roughly equal to what it is now. It stayed that way for 10 years. And there were no slabs.</p><p><br /></p><p>Then in 1987 the ANA published their new grading standards. These standards were much stricter than the previous set. For example, coins that had been graded as 65&#039;s instantly turned into 63&#039;s overnight. And it was not coincidence that the ANA published their new standards in &#039;87 and that the TPGs came into existance at the same time - it was a planned event. The same people who formed the TPG companies, PCGS and NGC, helped write the new ANA standards. And, for a time, the TPGs followed those same standards.</p><p><br /></p><p>Today, when we see coins graded as 70 being sold at high prices, we forget all about what went on prior to that. Because the muti-thousand dollar prices cast $$$ signs across our eyes and we forget about their relationship to the cost of coins with lesser grades. </p><p><br /></p><p>But if you examine what those coins of lesser grades sold for 20 years ago and compare that to what they sell for today - you will see roughly the same relationship between what the 70&#039;s sold for back then and what they sell for today.</p><p><br /></p><p>The only thing that is really different today is that now there are more people out there, most of whom actually know very little about coins or the coin market, that pay what we see as these outrageous prices. Of course to a large degree that is because today there are far more coins graded as 70 than there were before. But then minting technology and quality has improved greatly, so more coins of 70 quality are produced making them much more common than they ever were before.</p><p><br /></p><p>So what should be happening, and is to a limited degree but yet one that is seldom noticed because of those $$$ signs blinding your eyes, is that the values of the 70&#039;s drop instead of climb when compared to what they were before.</p><p><br /></p><p>But few even want to notice that effect because all they want to think about is how much money they have made, more correctly think they have made, by owning those coins graded as 70&#039;s.</p><p><br /></p><p>So what is seen, or what people think they see, is a false indicator. And in time it will catch up as more and more people become educated about coins and more and more coins of 70 quality are produced and graded as such. </p><p><br /></p><p>Eventually the 70 grade will become so common for certain coins that even those who know virtually nothing about coins will see that commonality and this nonsense will stop.</p><p><br /></p><p>But until then, those who persue the coins with 70 grades will continue to see $$$$ in their eyes and be blinded by what is really going on.[/QUOTE]</p><p><br /></p>

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