MS70 and PR70

fcloud

David,

a) Do you feel there are coins going through PCGS in which get graded as 69 but are truly 70 grade coins?
b) Do you feel the standards are too tight on grading "70" coins?
c) If the standards of the grades are too tight, and they were loosened what are ramifications to PCGS and their customers?

Tony

homerunhall

Hi Tony...This is a tough question...I feel the difference between 69 and 70 is very minute. I can tell you the graders spend considerable time on the 69/70 line and they don't take it lightly. The definition of 70 in the PCGS grading book is "no imperfections visible under 5 power magnification." That's a really nice coin! But so are 69s, 68s, and 67s...

I can tell you that because of everyone's feedback, the graders will be very conscious of the 69/70 line and try to give the 70 grade were merited...as they have in the past.

It's my personal opinion that around 1% of the 1985 to date proof coins submitted to PCGS deserve the 70 grade...but I'm not on the grading line looking at all the coins. If there were a few more 70s made I personally don't think the price would go down. In fact, it might go up...there needs to be coins to have a market!

I urge everyone to view the above as my personal opinion only. Please do not read anything into the above that's not there. Once of the fallacies about people's perception of PCGS is the view that we sit around and talk about loosening or tightening up...that just doesn't happen. We always talk about the PCGS standards and trying to apply those standards consistently.