PR70 cents
Mark
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in Q & A Forum
HRH:
In another thread about how reactive copper is and hence how it is possible for PR70 cents to turn in the holder, I posted the following comment:
Personally if I were in charge of PCGS, I'd refuse to grant any cent a PR70 grade until it was at least 10 or 20 years old so that I would be sure that any little bits of contamination added by the mint had had a chance to turn. Then if I did think a cent was deserving of a PR70, I'd probably require that the coin be kept in its PCGS holder at PCGS for 6 months so that any little bits of contamination added by PCGS (or a coin doctor) had a chance to turn. If the coin started to turn, then bingo: It's instantly regraded down from PR70. Only after a 6 month wait would I release the coin to the submitter. Sure the submitter would have to wait a long while to obtain his or her PR70 cent, but 1) PCGS would face fewer issues with PR70 coins turning in the holder, 2) the submitter would be virtually certain that his or her PR70 would remain a PR70 indefinitely, and 3) PCGS's reputation for being the most conservative and accurate third party grading company would be enhanced.
Another advantage of this procedure for PCGS is that you would need to rebuy many fewer PR70 cents under your grading guarantee. Of course, I know that submitters would be unhappy with a coin kept 6 months by PCGS only to be downgraded before it is released to them because the coin developed spots, but it's probably better for the hobby if these coins were kept out of PR70 slabs. Anyway, do you have any thoughts about my suggestion?
Thanks in advance.
Mark
In another thread about how reactive copper is and hence how it is possible for PR70 cents to turn in the holder, I posted the following comment:
Personally if I were in charge of PCGS, I'd refuse to grant any cent a PR70 grade until it was at least 10 or 20 years old so that I would be sure that any little bits of contamination added by the mint had had a chance to turn. Then if I did think a cent was deserving of a PR70, I'd probably require that the coin be kept in its PCGS holder at PCGS for 6 months so that any little bits of contamination added by PCGS (or a coin doctor) had a chance to turn. If the coin started to turn, then bingo: It's instantly regraded down from PR70. Only after a 6 month wait would I release the coin to the submitter. Sure the submitter would have to wait a long while to obtain his or her PR70 cent, but 1) PCGS would face fewer issues with PR70 coins turning in the holder, 2) the submitter would be virtually certain that his or her PR70 would remain a PR70 indefinitely, and 3) PCGS's reputation for being the most conservative and accurate third party grading company would be enhanced.
Another advantage of this procedure for PCGS is that you would need to rebuy many fewer PR70 cents under your grading guarantee. Of course, I know that submitters would be unhappy with a coin kept 6 months by PCGS only to be downgraded before it is released to them because the coin developed spots, but it's probably better for the hobby if these coins were kept out of PR70 slabs. Anyway, do you have any thoughts about my suggestion?
Thanks in advance.
Mark
Mark
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Comments
I appreciate the idea, but the number of coins that turn into problems is small. If a great coin comes in we'll grade it 70 if it deserves the grade...and we'll deal with the consequences if it goes bad in the holder.
Thanks for the thought.
David