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Thoughts on cabinet friction from a professional grader.
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<p>[QUOTE="TypeCoin971793, post: 3505671, member: 78244"]There are no grading standards whatsoever in ancient coins, and approximate grades are given just for cataloguing purposes. Guess what? Everything still works out fine. Nicer coins sell for more, as they should. There are dealers who have thousands of different types in different grades, and they never spend hours pricing each coin. Researching prices works just fine without grades. The only ones who can’t (or don’t want to) see that are those who are addicted to the convenience or those who invest tons of money into single-point differences. Of course it matters to them.</p><p><br /></p><p>Here’s a thought experiment: say the two double eagles were put up on the auction block with no reference to grade. What do you think would happen? I would be very surprised if the nicer of the two did not sell for multiples of the other. In the holders, the “MS-67” is worth about 5 times the “AU-58.” Does that seem wholly unreasonable?</p><p><br /></p><p>By the way, the whole “get rid of the grading system” thing is simply a thought experiment. There is no practical way to implement it in the US coin market with the market share the TPGs have. I thought I have already said this, but I guess you missed it. I know to you ancients are worthless and irrelevant. But I make the comparison because the ancients market has the same problems you would have in the US market without numerical grading (more-inconvenient price research, for example), and it gets along just fine. It actually self-fixes the assigning-higher-value-to-premium-coins problem quite naturally. By extrapolation, the US coin market would do just fine as well.[/QUOTE]</p><p><br /></p>
[QUOTE="TypeCoin971793, post: 3505671, member: 78244"]There are no grading standards whatsoever in ancient coins, and approximate grades are given just for cataloguing purposes. Guess what? Everything still works out fine. Nicer coins sell for more, as they should. There are dealers who have thousands of different types in different grades, and they never spend hours pricing each coin. Researching prices works just fine without grades. The only ones who can’t (or don’t want to) see that are those who are addicted to the convenience or those who invest tons of money into single-point differences. Of course it matters to them. Here’s a thought experiment: say the two double eagles were put up on the auction block with no reference to grade. What do you think would happen? I would be very surprised if the nicer of the two did not sell for multiples of the other. In the holders, the “MS-67” is worth about 5 times the “AU-58.” Does that seem wholly unreasonable? By the way, the whole “get rid of the grading system” thing is simply a thought experiment. There is no practical way to implement it in the US coin market with the market share the TPGs have. I thought I have already said this, but I guess you missed it. I know to you ancients are worthless and irrelevant. But I make the comparison because the ancients market has the same problems you would have in the US market without numerical grading (more-inconvenient price research, for example), and it gets along just fine. It actually self-fixes the assigning-higher-value-to-premium-coins problem quite naturally. By extrapolation, the US coin market would do just fine as well.[/QUOTE]
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