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Older PR70s, are they REALLY 70s?

I was wondering what everyone thinks about the issue of the "older" PR70s that PCGS has graded. From my own experience, and the postings of others, it seems to me that there are few if ANY PR70s that if sent in for a grade review would make the grade.

I have seen some recent Commem's that perhaps deserve the grade, but ALL of the others (Proof Set coins) I have seen (18 or so)have visible "problems". Since PCGS has changed their method to determine if a coin in indeed a 70 in the past few years, shouldn't those PR70 coins that are entered in a Registry Set have to meet the current criteria?

I certainly don't mean this in a negative way towards those who have a plethora of these in their sets. I know that all of the services get "looser" at times, but I don't think with the impact of grading 70s. Perhaps PCGS should require any PR70 graded before their methodology change occured be re-submitted for a review for it to receive the full 70 points in a Registry Set. Any coin not re-graded would receive 69 points.

There are probably some coins out there that would still be 70s. Lets find out for sure. I feel this requirement would help to insure the viability and validity of the Registry Set concept. What do you all think?

Greg

Comments

  • Greg, I agree, as long as PCGS' grade guarantee would still hold for any of us with PR70s that are really PR69s (and there's the rub...it will cost them too much to ever adopt your suggestion).

    (edited to correct spelling error, sorry!)
    Regards,
    Chris
  • MoneyLAMoneyLA Posts: 1,825
    While you're regrading the 70s, how about regrading the 69s, and the 68s?? cheers, alan mendelson
  • I agree with Alan Why not Re-Grade all the coins. This would make our 3 party Graders VERY HAPPY. Please it's just a HOBBY!!!!!!
    Rick Stewart Collectins
  • CocoinutCocoinut Posts: 2,512 ✭✭✭✭✭
    Since PCGS has gotten so stingy with MS70 and PR70 coins, doesn't that make today's high-end 69's just as good, at least from a standpoint of quality? They won't rate as high in the registry, of course, but if you can buy the same quality at a lower cost, it works to the advantage of the average collector.

    Jim
    Countdown to completion of my Mercury Set: 1 coin. My growing Lincoln Set: Finally completed!
  • I agree Jim. Since it seems that every PR70 I hear of that goes back to PCGS doesn't come out the other end with it's original grade, and they admit to adding another step in the grading process to give a 70, it clearly indicates to me that there are alot of coins out there with inaccurate grades because they didn't go through the "new" grading step.

    I haven't heard or seen of many 68s or 69s that people think don't deserve the grade. They also do not impact the Registry system or collectors pocketbooks nearly as much.

    Greg
  • Can't you just send pcgs the "slider" 70s, have them take them off the market, ie, reholder as 69s and refund the differences?
    Eventually the 70 pops would be more reflective of current standards and be more accurate.
  • I certainly have done so and PCGS has treated me very fairly. With all of the competition for "points" in the Registry game, there isn't a lot of motivation for others to do so. There are some people buying the plastic instead of the coin.
  • Right, Greg, unfortunately you are probably right, however,
    1) We have mostly really good people here, and
    2) with the $$$ given by pcgs, and the "terrific warm fuzzy" feeling one will get, how could you lose?
    3) Pops will reflect the "truth" as we know it.

    Unfortunately, there are a few of these coins still around, but they are not easy to sell. I'm sure they'll stand out when a set starts to become "really" good.
  • Hey, deja vu, this thread was on the coin forum... at the risk of repeating myself (always love a good conspiracy theory!)

    -----

    While PCGS has stood behind their PR70 grades admirably (downgrading and shelling out the cash when resubmitted), I don't believe they care quite so much about the registry's integrity as to specifically invite many $1000's worth of regrades.

    Hmm... in fact, now that I think about it, maybe the entire registry concept is a clever conspiracy to keep those overgraded PR70s locked up in collections by people worried about losing their registry rank! Brilliant! image
  • Boy that Ike PR70 really makes the point!!

    Greg
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