Platinum Eagles....what do 2012, 2013, 2014, 2015, 2016 and 2019 have in common?
jmski52
Posts: 22,899 ✭✭✭✭✭
I think I'm going to call the game. I can't come up with a good explanation.
Except for 2017 & 2018 (when I bought ready-made PR-70 FS coins from a dealer), every time I've sent in perfectly nice, heavily pre-inspected Plats as PR-70 FS grading candidates, they've been assigned PR-69 FS grades.
Do I just have bad luck, in addition to not being able to grade a PR-70 in my specialty series? I can certify that the professionals occasionally make some awful mistakes in grading both 69 and 70 coins, but this is a consistent run over a period of years.
Looking at the pops, the odds seem rather fantastic against a run of about 10 or 11 carefully-scrutinized coins not making PR-70 FS over a time frame of several years - so it doesn't appear to be a case of grade-deflation or grade-inflation.
I've been advised by two different people who are close to the situation that indeed, different graders handle the coins when they are submitted at shows than those who grade mailed-in coins, and that the grading staff who grade mailed-in coins are simply accustomed to grading with different standards.
This would not seem to be a very good business model as it takes the challenge out of it, and this situation dictates how I'm going to proceed in collecting, if at all.
What's the real story?
Suggestions?
I knew it would happen.
Comments
I never submit any of my $100 proof platinum at the shows, screen out the junk to present a lovely looking batch to the graders and (with respect to those dates) end up with as little as less than 10% in 70 (in the case of 2012) and as high as over 50% in the case of a few of the later dates. And, while it is true different graders often go to the shows as compared to those grading these types of coins in house, I believe they get a “fair shake” being graded in CA. I believe this for a number of reasons, including because I often buy the 70s “made” in CA and can easily see the standard being employed.
Just my 2 cents.
Wondercoin.
The real story ? It is that 70 platinum's are just really hard to get. I also have terrible luck with 70's especially MS versions of older platinum. You are not alone in your frustration.
Suggestions? Buy them from Justin or Wondercoin and let them do the hard work.
My US Mint Commemorative Medal Set
Goldminers|I am unsure about he platinum proofs in pr70-as there seems to be many available for sale except for three or four dates. I fully agree on the ms versions of the earlier date-such as pre 2008. Just surmising, is it because many of these earlier platinums did not survive the run up in platinum and no longer exist having gone to that big smelter in the sky. There doesn't seem to be many 69's around either. I suspect this may be due to the relatively low price of platinum, though.
I am always suspicious of grading especially modern issues and platinum through TPGs, but that is the game in town.
Well, just Love coins, period.
What I thought were really nice coins seemed to be hard to get graded PR70 FS the past many years when I sent them in too. I agree with jmski52 that it does seem odd sometimes.
I mostly quit sending new coins in that I bought and looked over very carefully from the Mint the first 30 days, as I also seemed to get 69FS's a lot. I also got 5 of 5, 69FS Kennedy golds, that I still can't see why, when I look at them over and over.
Part of why I did not bother to order any Legions, as I would probably get 69FS on several based on past experience, and it is easier to just buy the 70's from bulk submitters. Is there a difference, or real reason why? I don't know.
I have speculated that a portion of the perceived variances mentioned by the OP could be related to grader's time scrutinizing the coins. Bulk submittal coins might get looked at quicker than ones I sent in after the initial rush, or the graders get better at knowing where to look for the one tiny flaw.
Part of why I wish there was one pop column for Total graded, not just the totals for graded and slabbed that are in the pop reports, as then we could see more accurately which coins are really tougher to get in 70.
My US Mint Commemorative Medal Set
I too, have been buying my ms/pr 70 'first strike' coins in the secondary market for some time. An added plus has been most were purchased below the issue price from the Mint all in.
MS/PR 70 coins are usually easier to acquire on the already slabbed market... Those new, fresh from the mint coins all look like 70's when opened up... it takes a critical and impartial eye to truly assess their condition. All my proof ASE's are 70's... at least until I submit them
Cheers, RickO
maybe you should pre-inspect the coins and when you find a "candidate" that you see as a 70 just keep it raw. it is illogical to do that, have it grade 69 and be upset. isn't the coin the same??