ANACS photograde vs. PCGS - results

ProfLiz

Over the past several months, I have been disbursing my collection of ANACS photograded coins. Most of them were of modest value and collectable because of being photocertified. At the end, I was left with the gold, which I wanted to have authenticated in order to sell, and a few others that were potentially worth slabbing. So, armed with some grading vouchers, I sent them off to PCGS. Here are the results.

First the non-gold:

1. 1832 half cent, ANACS photograde AU50/50 (obverse/reverse) in 1986
   I consider this coin undergraded based on wear pattern, but copper from this era was often “conserved” with various surface treatments. Would the result be market acceptable today? Answer: No
   PCGS grade AU Details – Altered Surfaces
   I may try an acetone soak to see if it can recover the original surface.

2. 1883 5c, ANACS photograde MS65/65 in 1981
   I have no idea how to grade nickels. Clearly.
   PCGS grade UNC Details – Cleaned

3. Three Walking Liberty half dollars, all ANACS photograded MS65/65 in the 1980s
   All looked good, clean fields, lustrous. I have some experience grading these, and thought they all were solid 65’s with shot 66. I was 2/3 right.
   PCGS graded two MS65 and the third UNC Details – Cleaned

So, for the copper, nickel, and silver the lesson is that the standards for market acceptable cleaning may have tightened over the years. And also, since no one elected to have these particular coins regraded during the past 40 years, there might be reasons why ;-)

But what about the gold?

1. 1915-S Pan-Pac gold dollar, ANACS photograde MS60/63 in 1985
   Pretty little coin, and PCGS agreed.
   PCGS grade MS64

2. 1852 quarter eagle, ANACS photograde EF45/45 in 1981
   This coin has a great original old gold look and only a hint of wear. Undergraded in my book, and in PCGS’s too.
   PCGS grade AU58

3. 1927 double eagle, ANACS photograde MS60/60 in 1981
   A straight-up bullion coin, clearly uncirculated and un-messed with, with typical bag marks.
   PCGS grade MS64

From this admittedly small group, I would say that current PCGS grading standards reward original surfaces more than the old ANACS standards did.

Overall, this was a great learning experience and an entertaining use of my yearly vouchers.

lilolme

Interesting. One other thing to keep in mind on some of these maybe is the available grades at the time they were graded. And of course how those were defined then and now. Tom D mentioned in the following link is on the forum but I can't think of his forum name (I am kind of terrible with that type stuff - names) or would tag him as he could add some insight I am sure.

This indicates in 1981 grades 63 and 67 were added. If this is correct, then not sure when in 1981 (early/late).

https://www.pcgs.com/news/Part-Seven-The-Ana-Publishes-Grading-Standards-1977
.
.
FYI - link to thread with all of the articles if interested.

https://forums.collectors.com/discussion/1101152/grading-history-via-series-of-short-articles-by-mike-sherman/p1

CaptHenway

@lilolme said:
Interesting. One other thing to keep in mind on some of these maybe is the available grades at the time they were graded. And of course how those were defined then and now. Tom D mentioned in the following link is on the forum but I can't think of his forum name (I am kind of terrible with that type stuff - names) or would tag him as he could add some insight I am sure.

This indicates in 1981 grades 63 and 67 were added. If this is correct, then not sure when in 1981 (early/late).

https://www.pcgs.com/news/Part-Seven-The-Ana-Publishes-Grading-Standards-1977
.
.
FYI - link to thread with all of the articles if interested.

https://forums.collectors.com/discussion/1101152/grading-history-via-series-of-short-articles-by-mike-sherman/p1

I added MS-63 and MS-67 (and Proof-63 and Proof-67) before we opened the grading service on March 1, 1979.
TD

ProfLiz

Thank you both. This perspective on grading history is enlightening!

braddick

1832 half cent, ANACS photograde AU50/50 (obverse/reverse) in 1986
I consider this coin undergraded based on wear pattern, but copper from this era was often “conserved” with various surface treatments. Would the result be market acceptable today? Answer: No
PCGS grade AU Details – Altered Surfaces.

I may try an acetone soak to see if it can recover the original surface.

That is an interesting play on words.
I know exactly what you mean... yet to an outsider it would seem odd to use a chemical on the surface of a coin to,
"restore it back to its original surface."

logger7

I sent in some PCI photograded Franklins from 1987 to ICG recently that were PR65 cam; none of them got the cam grade.

Shamika

This was an interesting small scale study. Thank you ProfLiz for sharing.

john_nyc1

With N=6 this is anecdotal noise (no signal).

gumby1234

@ProfLiz Were the ANACS coins in the little plastic baggie? If they were ( the ones that came back as cleaned ) they could have been cleaned after they were graded by ANACS. I have a photograded Morgan that is sitting in an album right now.

ProfLiz

@braddick said:
1832 half cent, ANACS photograde AU50/50 (obverse/reverse) in 1986
I consider this coin undergraded based on wear pattern, but copper from this era was often “conserved” with various surface treatments. Would the result be market acceptable today? Answer: No
PCGS grade AU Details – Altered Surfaces.

I may try an acetone soak to see if it can recover the original surface.

That is an interesting play on words.
I know exactly what you mean... yet to an outsider it would seem odd to use a chemical on the surface of a coin to,
"restore it back to its original surface."

I agree! Perhaps a more direct way to say it would be "I may try an acetone soak to try to get the gunk off!" ;-)

ProfLiz

@john_nyc1 said:
With N=6 this is anecdotal noise (no signal).

Totally agree @john_nyc1

Not to mention a significant sample bias (all coins that no one has already sent for slabbing).

And yet, the gold was remarkably consistent....

ProfLiz

@gumby1234 said:
@ProfLiz Were the ANACS coins in the little plastic baggie? If they were ( the ones that came back as cleaned ) they could have been cleaned after they were graded by ANACS. I have a photograded Morgan that is sitting in an album right now.

Great question, @gumby1234! The half cent and the nickel were still in their original baggies. The WLH was in a Capital plastics holder. Of course, any of them could have been messed with after ANACS photograding.

However, I will mention that each of these coins matches its photocertificate very closely - including the half cent, which has color photos. As far as I can tell, nothing significant was done to the coins after ANACS saw them.

john_nyc1

@ProfLiz Didn't mean to come across as snooty -- sample sizes large enough to be statistically meaningful would be quite expensive!

lermish

@john_nyc1 said:
@ProfLiz Didn't mean to come across as snooty -- sample sizes large enough to be statistically meaningful would be quite expensive!

I think it might be even more expensive to re-grade each coin many times to control for the human grading variables.

Morgan13

I recently purchased an anacs photograde. It's in a capital holder and looks really nice.