Grist for the topic of coin grading - Travers' book from 1984
ANACONDA
Posts: 4,692 ✭
Ok, many of us started talking about grading today, a topic i do truly enjoy, so here's some interesting information.
In 1984, Travers first published his Coin Collector's Survivial Manual. This was before PCGS and NGC.
In that first edition he published a 29 page survey on coin grading. He took created descriptions of 32 imaginary coins that he gave
to a number of differnet professional numismatists. He asked them to assign grades to the coins based on his descriptions.
Needless to say, the grades were all over the place. The grades assigned to the first coin ranged from MS63 to MS 67.
And while you might say that this survey is neither interesting or informative,
because it was not "the grading of coins", i believe that if in fact coins had been used, the assigned grades would have varied even
more, and if you look at the survey, I suspect that you would agree with me. The reason i believe the grades would have varied
even more is that the graders would have even more variables that would affect the results.
I believe that if you take any fairly ordinary coin (a coin that a grading service wouldn't "remember" mentally or photographically like
something unlike an 1804 Dollar) and submit it ten times, you will usually get no fewer than 3 different grades - a relatively liberal
grade, a reasonable grade and a conservative grade.
So, generally speaking, the goal i set for myself is to buy coins that are conservatively graded or that possess some redeeming quality
like magnificent toning that makes the coin worth more than the average piece and then buy it for as close to the price of the average
coin as i can.
(I say "generally speaking" because sometimes i buy ordinary coins from people who ask me to who are using the money to purchase other coins from me.)
If anyone has an interest, i would be glad to give a few pages here in this thread.
adrian
In 1984, Travers first published his Coin Collector's Survivial Manual. This was before PCGS and NGC.
In that first edition he published a 29 page survey on coin grading. He took created descriptions of 32 imaginary coins that he gave
to a number of differnet professional numismatists. He asked them to assign grades to the coins based on his descriptions.
Needless to say, the grades were all over the place. The grades assigned to the first coin ranged from MS63 to MS 67.
And while you might say that this survey is neither interesting or informative,
because it was not "the grading of coins", i believe that if in fact coins had been used, the assigned grades would have varied even
more, and if you look at the survey, I suspect that you would agree with me. The reason i believe the grades would have varied
even more is that the graders would have even more variables that would affect the results.
I believe that if you take any fairly ordinary coin (a coin that a grading service wouldn't "remember" mentally or photographically like
something unlike an 1804 Dollar) and submit it ten times, you will usually get no fewer than 3 different grades - a relatively liberal
grade, a reasonable grade and a conservative grade.
So, generally speaking, the goal i set for myself is to buy coins that are conservatively graded or that possess some redeeming quality
like magnificent toning that makes the coin worth more than the average piece and then buy it for as close to the price of the average
coin as i can.
(I say "generally speaking" because sometimes i buy ordinary coins from people who ask me to who are using the money to purchase other coins from me.)
If anyone has an interest, i would be glad to give a few pages here in this thread.
adrian
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Comments
<< <i>If anyone has an interest, i would be glad to give a few pages here in this thread. >>
Preach on brother! If you take the time to type it i'll make the time to read it. I enjoy all of the coin related posts here. You're not falling on deaf ears.
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