The MS Buffalo Billion coins: what's PCGS doing with them?

dpoole

I understand these MS Buffs are high quality and well-packaged from the Mint.

Do any of you have a feel yet for what PCGS is going to do for the MS70 designation? Are they going to try to keep the numbers low to moderate for these issues like for the ASEs, or are you seeing that their quality is compelling strong numbers of 70s? Or is it too early to tell?

wondercoin

David: Of course, it is very early and things could change quickly, but, IMHO, the grade through rate for the pure gold Buffalos at PCGS is but a fraction of the typical grade through rate for current year $50 MS70 Gold Eagles. For example, my largest batch of raw fresh sealed coins I personally submitted thus far yielded a 1.5% grade through rate (my guess is something closer to 3-5% would have been closer to what I would have expected) . A typical $50 Gold Eagle batch might achieve closer to a 7-10% or higher MS70 grade through rate. I have inspected around 1,700 of the Buffalo 2006 Gold specimens already - the majority of coins I have seen display a number of striking problems vis a vis an MS70 grade, mostly noticeably numerous planchet spots (similar to the pure gold Platinum coins) especially on the Indian's feathers, around the Indian's mouth and throughout the body of the Buffalo, as well as staining. These problems typically knock coins out of the PCGS-MS70 grade even before marks on the coin are even considered. I have little doubt most of the other grading companies will have a grade through rate well above PCGS', but, IMHO, they will have to treat these planchet problems and staining as Mint created problems in the striking process which they may have to ignore to be comfortable with the MS70 grade level.

Finally, let me say - a high quality PCGS-MS69 specimen is "plenty of coin" for most folks. While most of the planchet problems can be seen without a glass, they are, overall, not overly bothersome to the true beauty of the masterpiece of this coin.

Wondercoin

wondercoin

David: The NGC Census Report yesterday showed that about 70% of the coins listed are MS70 and 30% are MS69 at NGC. I believe PCGS is coming in around 3%-5% MS70 as I previously mentioned. They are essentially grading the same coins? This isn't to say either service is "right" or "wrong".
Wondercoin