Coin Grading - general question.

[ebnk15]

Over the past several years, I've been evaluating various coins and developing an eye for modern coins. While I may have trouble discerning an MS70 from a nice MS69, I think I've gotten good enough to start sending some of my better coins in for grading.

My question is about the process and expectations of sending in a bunch of coins. Mind you, I'm NOT seeking to send in perfect coins. However, I've come to realize that many modern examples top out near MS67 +/-. I have a bunch of untouched mint sets with spectacular looking examples still in the mint package. If I break out my better coins knowing that they look nicer and have crisper strikes, etcetera will I run into an issue where only those in the "good ole boy" network get nice grades and newbies get subpar grades for coins that should have graded higher? If the top graded coins are around a 67, then realistically I'm only seeking an MS67+ or MS68.

It sometimes seems as if one grading company, for example, might be more stingy when grading certain coins, even as later seemingly MS70 are, albeit grudgingly, awarded top grades...that look exactly like MS69 graded earlier, when the bulk of new coins were being graded. Of course, this presents a costly problem for those who received lower graded coins that deserved higher grades before "opinions changed" at the different grading companies.

I'm fully aware that these are human beings who have good days and bad days. I'm also aware that on any given day, the same coin might be graded differently. But, is there an unspoken guideline that only those who spend a lot of money get more favorable treatment when it comes to bulk submissions??

Thanks in advance.

[Daniel]

No unspoken guidelines and the larger dealers submit thousands more coins than normal people so the math is in their favor to get more top pop grades. There's not short cuts nor secret formulas for this.

[Earle42]

A few years ago I talked with a notable dealer who said he was convinced the grading companies will control the number of MS 70 labels they will award to American silver eagles. He had spent some time over some years polling dealers as to how many the dealers got back from monster boxes that were MS70. He found a consistent percentage over a wide range of dealers (I am sorry I do not remember for dead sure, but believe it was 23%). He said there was, of course, the argument that maybe 23% was the amount of actual MS70s made vs lower grades. He encouraged me to look for myself and see it is not hard to find an MS70 ASE with obvious rim damage or something else which makes it not be an MS70. He was convinced they just scooped a number out of each box, labeled them as MS70, and kept the number consistent.

The number of MS70 ASEs dictates the price people will pay for them. And the more people will pay the companies to try to get an MS70. Hence more business is drummed up.

All of this to say that since no exact science is used, the companies are not accountable to anyone for what they assign to a coin. This is also why they will never explain their grade they put on a label. Its a business and is run as such.

As to telling he difference between an MS69 and MS70 - as can be seen by the above, the companies themselves have no measurable or factual (verifiable) difference between an MS69 and MS70. Not until the companies return to the scanning and computer grading system will there actually be a verifiable difference between what s called an MS69 and MS70 (and the reality is that span could likely be extended).

There is no way to measure the difference between two grades that are not based upon a measurable standard.

In other words, if you don't have a ruler where the markings are set and standardized, you cannot make a definitive statement that you can measure something to the exactness of an inch. it is scientifically and logically impossible.

In the 90s all the companies spent a lot of money to develop scanning and computer grading of coins. The companies called the systems more accurate and that the systems removed human error giving the coin its actual grade. But...no doubt the lack of profits from the huge re-slabbing game people play to try to get a better grade fell off and the companies returned back to the system they had been calling less accurate (the one in current use).

You may want to read the essay in my signature. It uses PCGS links/facts to show the companies are not what they claim as far as expertise goes.

[Daniel]

I was told the same thing by someone who was involved in the founding of PCGS as a grader and then worked at NGC. Earle