Thoughts on collecting grade 70 slabs...

I figure they do a better job too since its their own personal definitions being used, right?

Seriously, I understand your statement that TPG's do a better job than most collectors. I would agree they would do a better job than I would. The numbers, though, would support there are tons of overgraded coins today. Even if only 1% of all coins are overgraded then the number of overgraded slabs is in the tens of thousands, if not hundreds of thousands. Its even worst when you consider an overgraded coin is NEVER cracked out and resubmitted while potential overgrades are frequently cracked out. Also, overgraded coins are more likely to be for sale more than correctly graded or undergraded coins.

Not trying to start an argument Morgandude, but are you saying you CAN'T go to any coin show and find overgraded, (in your opinion) slabs? It is sounding somewhat like you are.

 

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I am always wary of collecting avenues where (a) I have trouble distinguishing the differences between coins, (b) when the same coin raw sells for a small fraction of the slabbed coin, and (c) there seems to be a lot of value in the slab.

Last, but not least, I do not view all MS-70 coins as the same. A proof MS-70 silver quarter from a proof set is quite different from a proof gold ASE -- the value of the slab is quite different as is the underlying bullion value.

So while there is always the exception to any rule, I am not bullish on the long term investment potential of slabbed MS-70 coins for those reasons.

Now if you collect them for yourself as a hobby with disposable income I see nothing at all wrong with them. Who am I to tell you how to collect?

But if you're asking about the long term potential for value appreciation, I'd look to other areas of numismatics for better returns (or a higher bottom) over time.

 

ff-topic:

On a side note, I have one PF70 that I will be taking to FUN with me, and in about a month it is going to make someone a little unhappy. It's a 2005-S KS SQ Silver Proof, NGC PF70UCAM. It was originally classified as a Mint Error, but it has since been added to the CPG as FS-901. So, I will have it reholdered for the CPG designation. The current NGC Census lists 3534 PF70UCAM, but there are only two listed for the FS-901......a PF68UCAM and a PF69UCAM. I don't think this guy will be too happy that he no longer has the Top Pop.

Chris

 

Here are a couple of my 70s. Got them for the desire to own them, and the overall beauty of the coins.

 

That '94 looks nice! I assume you took that photo and some other slob took the photo of the 2000.

Chris

 

Yeah, those are gorgeous, morgandude, no question about it. I tried to get my hands on one today but got sniped out of it. I'll have to be patient.

 

Nothing I collect has ever been graded 70, or even 69, so I really have no informative input here.
Guy

 

I really can't see paying MS-70 money for a coin that looks almost identical to a 68 or 69 . I've watched people pay $200 for a coin that's selling for $50 now so I can't see it as a good investment either , Now if a Bust half graded MS-70 that would be a rarity and probably worth the premium , but with thousands of coins getting the 70 grade they will never be rare . But if you really like them buy them , just not for an investment .

 

The few collection of coins that I have has been purchased based on what I thought the coin grade is there are times when we see coins graded say a 69 and right beside it is a 67 that looks better that is the one I pick..I have a friend who goes with me to show to purchase and his thing is Forcaster says this and don't buy unless in NGC or PCGS ..Never Never let anyone else opinion influence how you spend your money,,Your are the one that has to go home feeling like I just made a good deal and got the coin or coins that I wanted..This is not to say that I don't have coins graded I do and many times they come back PF 68 or 69 and I look for the defect that keeps it from being a PF 70..Now all the coins that I have had graded only have four in PF-70 Lots of 69's and 68's have a few MS-69's lots of 65's and 67's so you see it is all in the opinon of who is selected for the final opinon..If I like mine it doesn't matter to know one but me...What we want to pass on is never or should I say seldom a treasure given..I buy lots of coins that is in Estates simply because the one that get the priviledge of having it bestowed does not know anything about what they have just recieved and it is SOLD highest offer....Enjoy the Hobby..It is fun,'It is the hunt...LJ

 

Inadvertantly, you've stated this exactly as it is.

Collecting 70's. N

ot coins,




but grades.

 

MS70 coins tend to have minor flaws, because no mass-production method will produce perfect coins. MS69 coins also tend to have minor flaws. The method to determine which microscopic marks are significant enough to take a coin down a grade seems entirely arbitrary to me.

 

I understand until there is a better way to grade coins the human eye is all we have.
Is it the best way or is being human too open to makeing mistakes?

Until coins are graded by something besides the human mind and eye ill never think you can get a true grade as we as human all have our own idea of what scratch and where its located will let us grade the coin high or low.
If the coin was graded by phto id i dont think you would have all the 70 grades that are out there now.
If it has a scratch no matter how small it would grade it as such .
Being human with a brain and eyes lead a grade on a coin to be what the mind likes that gives the coin a grade.
I understand more than one grader looks at the coin but i cant see a guy that has a few years calling out a guy thats been around generation or more.
We are human and this happens like it or not.
I have said it often when a member here says he cracked out a coin to have it regraded and got it back in a higher graded holder that should say all you need to know about the human eye gradeing of coins