Planchet Grading

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mittheman
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Planchet Grading

#1 Unread post by mittheman »

I ordered the Explore and Discover Set from the mint for my granddaughter. The set contains an uncirculated penny, a blank penny planchet, a nickel and dime. It also has a proof dollar, quarter and half dollar. The last section is for circulated quarters from 2019. As I was searching for the value of another penny on the PCGS Price Guide, I saw where those blank penny planchets had been graded. It has a subsection for "First Strike." How can a planchet be considered a First Strike when it has not been struck? Also, would it be worth ordering a few more of the Explore and Discover sets and get the planchets graded?

There is a product limit of 50,000 on the Explore and Discover Set. Does this mean only 50,000 of these penny planchets will be released?
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SensibleSal66
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Re: Planchet Grading

#2 Unread post by SensibleSal66 »

Hello. It appears that this pertains to the Discovery sets only. Marketing tool for people to get interested in coin collecting. IMHO. Sal.
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Earle42
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Re: Planchet Grading

#3 Unread post by Earle42 »

mittheman wrote: Fri May 27, 2022 12:17 amHow can a planchet be considered a First Strike when it has not been struck?
You have just started understanding the reality of grading companies. Obviously you cannot have a first strike if a coin is not struck. The other, maybe no so obvious thing that most people overlook is that it is the wear on the details and luster/eye appeal that are used to grade a coin. So just how does a person grade something with no details to determine the wear?
Also, would it be worth ordering a few more of the Explore and Discover sets and get the planchets graded?
Most certainly not.
Please take the time to read the essay after I answer the second question. To many people lose too much money on grading coins b/c the companies are NOT what people just assume they are. People see tons of slabbed coins on ebay, automatically think slabbing is a natural part of the hobby and the people doing it are THE professionals, and end up losing a lot of money to them.
There is a product limit of 50,000 on the Explore and Discover Set. Does this mean only 50,000 of these penny planchets will be released?
Yes - this means only 50K of those sets will be made/sold. However, penny planchets are not rare, and some are found in mint bags and bank rolls. Personally in my life I have found penny, nickel, and quarter planchets in bank rolls.

Likely the coin grading companies will slab the ones from these sets and the label will say the planchet was form the set. However, one of these days reality will settle in and people will realize the slabbed one is no different than a typical planchet and whatever premium someone paid for the slabbed one will dissolve away just like Beanie Baby values did.

An Insider's Guide to Coin Grading Companies

Here is a reality check about grading companies vs. what people coming into the hobby just assume about them b/c of seeing so many slabbed coins being sold. Reading this will help you make better educated decisions concerning these companies and your hard earned cash.😊:

Give a man a fish, feed him for a day. Teach a man to fish, feed him for life. Here is some beginners fishing tackle. Its worth your time to read.


Thinking of Slabbing? Make sure you understand the Facts...or You Could Lose Money.


Popular mistaken mindset:
1. The grading companies are not a way that the majority of people, even those with a great deal of experience who know what they are doing, are going to be able to use in order to make huge personal profits. Many people start using grading companies thinking they will find a way to finance their hobby, but they learn a hard lesson quickly.

Professional predicting not possible:
2. Watch some of Daniel's videos where he gets slabbed coins back from the grading companies. Note even people who live, eat, breath, and deal coins for a living (like Daniel) can accurately predict what grade the companies will give. And...the "fault" (not really a fault) is in a widespread mistaken perception people get from being exposed to all the slabs being sold nowadays:

a. Coin grading companies are a business out to make a profit - this is why they exist. They use a system where allegedly three, but in reality its normally two, graders look at each coin and give an opinion. The company videos showing the process make you believe this is a relaxed and paced process of studying each coin. In fact one PCGS video shows a number of guys sitting around a table discussing what they think a specific coin should be graded as (on youtube somewhere - sorry no link). Uh uh.

b. If you take a PCGS graded coin slabbed as MS64, break it out, and resubmit it to PCGS, you are never guaranteed the same grade again. The slabbed coin might come back MS62 (extreme and a bad day for graders), 63, 64, 65, 66 (extreme and a great day for you!). This is b/c the process is all subjective: No scientific/verifiable standards or methods are used. This subjectivity makes for greater company profits since people resubmit the same coin trying to get a higher (better price when selling) grade. In the 90s the companies, at great expense, created better (their own words) scientific methods not relying upon human opinion. No doubt the large profit from the re-slabbing game fell. The companies abandoned the science and went back to their less accurate systems.

But..this is all hearsay without proof. So...
Grading the Coin Graders

Here is another good read from someone there at the start of the grading companies:
Hobby negative impacts from slabbing companies

Error on errors:
3. People also seem to think grading companies will examine a coin to see if they can find an error and then slab it as such. But again, they ONLY GRADE coins. The companies will NOT try to find and ID an error for you. You must FIRST ID the error yourself, CHECK to see if the company you want to use recognizes that specific error, PAY them to verify the error on the label, and then you may or may not actually get what you pay for! The companies have a bad reputation for attributing errors incorrectly.

Link to and read (download if you want it) the pdf link in my signature as an eye opening example. Sadly, the verifiable data presented from the PCGS website shows trusting people have spent thousands of dollars on many slabbed coins that are not what the companies claims/slabbed the coins to be.

Cost concerns:
4. B/c people do not understand the businesses, so very many people end up with spending far more money to slab a coin than the coin is worth. The companies profit greatly with membership fees, submission fees, insurance fees, shipping fees and extra (chosen) fees. ANACs does not have all these fees though.


You don't have to throw in the towel over these companies...but education about the reality of them will put you on the right pathway to dealing with them in a legit way without losing money in the process.


And…if you just like to collect slabbed coins for what they are, which makes losing/making money from slabs irrelevant, then of course enjoy them!" 😊
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

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mittheman
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Re: Planchet Grading

#4 Unread post by mittheman »

Thanks for the advice.

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