Why are there sharp drops between grades?

leothelyon

Checking the PCGS pops between MS64 and MS65 grades, say for FS Jefferson's, why are there sharp
increases? For example the 1940 FS Jefferson nickel shows that only 8 have been graded as MS64. This number jumps to 158 graded in MS65 and 141 in MS66. Here's another; 1948-D, only 7- MS64, but 135-MS65 and 101-MS66. This is consistent for the most common dates but as a date becomes more increaseingly difficult to locate the numbers in both grades begin to even out. Why is this? Are collectors that accurate in their grading or do collecters have a choice in encapsulating a coin if it is a low grade. I can understand how submissions for semi and common dates will average out more in one grade over another but why the sharp drop? We're only talking of a 2 point difference between MS64 and MS66 grades.

Leo

LanLord

I don't know for certain but perhaps in some series there is a point where it makes little or no financial sense to have a coin certified. If that point is between ms64 and ms65 you may find only those coins that were thought by the owner to be a 65 but got graded as a 64.

Just a thought.

Ronyahski

I can think of at least two reasons. One, since Jef poplularity is relatively new, only the best for the grades were first sent in by dealers and collectors. Two, probably alot of bulk submissions. With bulk, you can designate a minimum grade, and if the coin does not make it, the fee is reduced and the coin is not slabbed.

One reason I don't buy, the 'better date bias' conspiracy theory by the grading services. I don't think, for the most part, the graders really are cognizant of what Jefs are the rarer dates, and thus grade them more strictly.

homerunhall

Most of our big submitters base their submission decisions on the financial outcome. So...they have little incentive to send in Jeffs they think will grade MS64, as in most cases these coins aren't worth enough to justify the grading fee.

When you see the Pops concentrated in a certain grade, you can bet the financial benefit line is nearby. The one exception to this would be coins that are very rare in all grades...say proof gold...David Hall

leothelyon

I thank everyone for their answers.
So it's safe to say, collectors and dealers carry a high degree of accuracy for grading coins when their best interest for submitting coins are focused on the Registry and/or for practical finances.

I don't think, for the most part, the graders really are cognizant of what Jefs are the rarer dates, and thus grade them more strictly.

Are you referring to all Jefferson dates? If they don't study the pops. You would think they would have some idea from experience and may recognize when an unusual date comes along that they seldom grade. I believe some special interest would take place but you may be right, especially with a newer
or lesser known series.

Leo