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PCGS Grading Standards
Dabigkahuna
Posts: 3,419
in Q & A Forum
Hello,
I am wondering, now that there seems to be a marked increase in the amount of 70's graded coins from PCGS, if this is a trend that will continue or if it is just a temporary aberration that has occurred since Rick Montgomery has left PCGS?
I also am wondering if this may have been attempt to win back some of the large bulk submitters (namely dealers) that have been avoiding PCGS because of the high standard of grading that I have become accustomed to? Over 20 PR and MS 70 coins have been offered to me in the last week or two and all these offerings have been from dealers including DHRC.
What of the people who have paid huge premiums for these Top graded coins? These are the people who pay the big dollars to have the best. This move by PCGS to ease the standard of grading leaves these people holding the bag so to speak. Then there are all those PR and MS 69's that that were graded before the change. Are these coins going to reviewed for upgrade at a fee also? Is the next step to allow NGC coins into the registry even though they hardly ever cross to PCGS at the same grade?
The high standard I speak of was the main reason I felt that PCGS coins were a step above the competition. By easing the grading standard to accommodate more 70's seems to be a major step away from that standard. Do you feel as I do, that that by easing this standard you are negating all the work and the reputation that has made PCGS as successful as it has been?
Please feel free to set me straight on anything I may be off base on but I do look forward to hearing your reply.
Thanks,
Larry RIce
Dabigkahuna
I am wondering, now that there seems to be a marked increase in the amount of 70's graded coins from PCGS, if this is a trend that will continue or if it is just a temporary aberration that has occurred since Rick Montgomery has left PCGS?
I also am wondering if this may have been attempt to win back some of the large bulk submitters (namely dealers) that have been avoiding PCGS because of the high standard of grading that I have become accustomed to? Over 20 PR and MS 70 coins have been offered to me in the last week or two and all these offerings have been from dealers including DHRC.
What of the people who have paid huge premiums for these Top graded coins? These are the people who pay the big dollars to have the best. This move by PCGS to ease the standard of grading leaves these people holding the bag so to speak. Then there are all those PR and MS 69's that that were graded before the change. Are these coins going to reviewed for upgrade at a fee also? Is the next step to allow NGC coins into the registry even though they hardly ever cross to PCGS at the same grade?
The high standard I speak of was the main reason I felt that PCGS coins were a step above the competition. By easing the grading standard to accommodate more 70's seems to be a major step away from that standard. Do you feel as I do, that that by easing this standard you are negating all the work and the reputation that has made PCGS as successful as it has been?
Please feel free to set me straight on anything I may be off base on but I do look forward to hearing your reply.
Thanks,
Larry RIce
Dabigkahuna
0
Comments
What would be wrong would be if we truly loosened our standards to match some of the other services. For some other services, they have some issues with 20% and as much as 50% of the population being graded 70. Our standards are stricter than that and they will stay that way. The fact is that the Mint doesn't produce very many perfect coins. I believe that approximately 1% of post 1984 proofs may qualify for the 70 grade.
Also, remember that we get 40,000 or 50,000 modern coins a month, so the 10 or 20 70s that have been made in the past 2 months are a very small percentage of those coins. And the bottom line is that if the coins are perfect, they truly deserve the 70 grade and the market will tell us what those coins are worth. Personally, I am very excited about the modern market and I'm looking forward to seeing it grow and prosper even more.
David