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Thoughts on cabinet friction from a professional grader.
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<p>[QUOTE="TypeCoin971793, post: 3502757, member: 78244"]The strongest advocates for market grading argue that the surface damage caused by slight friction should be commensurate with surface damage caused by MS-63-level contact marks. They argue that a coin with wear (which would otherwise be given an AU-58 grade) should not be graded lower (and thus valued lower) than a beat-up ugly MS-60. This is because the TPGs know that most collectors are not advanced enough to recognize when something is more valuable than other similar and higher-graded coins. This is all built on the fallacy that higher grades HAVE to be worth more, which is promoted by points awarded in the TPG Registry Sets.</p><p><br /></p><p>The main problem with this is that, for most people, they either don’t know about market grading or don’t know when it has been applied. Say you have a coin that is a technical MS-65 that is market-graded to MS-67 due to insane eye appeal. Then someone gets caught up in the insane eye appeal and assumes that is is a premium MS-67 and pays a premium on the already-inflated grade. I see this happen all the time, and I believe that a practice that encourages double-dipping on the eye-appeal premium is dangerous and should be abandoned. My stance is that supurb eye appeal should just a requisite for a gem grade, not an excuse to bump up the grade. If the eye appeal is exceptional for the technical grade, then specialists would naturally bid it up to premium prices (since it is a premium coin).</p><p><br /></p><p>But that will start with correcting the fallacy that an AU-58 coin does not have to be worth less than an MS-60. That would be difficult to implement, but I guess it could start by awarding MS-62/63 points for AU-58 coins in a Registry set. Or maybe adding the designation AU-58+ to indicate that it is such a premium AU that is would be worth 62/63 (or more) money. But these are fundamental changes that would be extremely difficult to implement in the current market.[/QUOTE]</p><p><br /></p>
[QUOTE="TypeCoin971793, post: 3502757, member: 78244"]The strongest advocates for market grading argue that the surface damage caused by slight friction should be commensurate with surface damage caused by MS-63-level contact marks. They argue that a coin with wear (which would otherwise be given an AU-58 grade) should not be graded lower (and thus valued lower) than a beat-up ugly MS-60. This is because the TPGs know that most collectors are not advanced enough to recognize when something is more valuable than other similar and higher-graded coins. This is all built on the fallacy that higher grades HAVE to be worth more, which is promoted by points awarded in the TPG Registry Sets. The main problem with this is that, for most people, they either don’t know about market grading or don’t know when it has been applied. Say you have a coin that is a technical MS-65 that is market-graded to MS-67 due to insane eye appeal. Then someone gets caught up in the insane eye appeal and assumes that is is a premium MS-67 and pays a premium on the already-inflated grade. I see this happen all the time, and I believe that a practice that encourages double-dipping on the eye-appeal premium is dangerous and should be abandoned. My stance is that supurb eye appeal should just a requisite for a gem grade, not an excuse to bump up the grade. If the eye appeal is exceptional for the technical grade, then specialists would naturally bid it up to premium prices (since it is a premium coin). But that will start with correcting the fallacy that an AU-58 coin does not have to be worth less than an MS-60. That would be difficult to implement, but I guess it could start by awarding MS-62/63 points for AU-58 coins in a Registry set. Or maybe adding the designation AU-58+ to indicate that it is such a premium AU that is would be worth 62/63 (or more) money. But these are fundamental changes that would be extremely difficult to implement in the current market.[/QUOTE]
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