Why doesn't PCGS grade coins w planchet flaws?

donthehill

I'm wondering why PCGS (and NGC?) don't give numerical grades to coins with planchet flaws. Here's a list of all the no-grade designations:
82 Filed Rims
83 Peeling Lamination
84 Holed and/or Plugged
91 Questionable Color
92 Cleaning
93 Planchet Flaw
94 Altered Surfaces
95 Scratch(s)
97 Environmental Damage
98 Damage
99 PVC Residue

All of the above, except 83 (which is described as being related to slabbing potentially damaging the coin) and 93 (planchet flaws), are not gradeable because someone either intentionally or unintentionally messed with the coin or allowed it to be damaged AFTER it was sent out from the mint. Why does the fact that if the mint used a defective planchet in a coin press, but the coin has not been post-mint damaged, mean that it shouldn't be given a numerical grade with a note about the planchet flaw?

Granted, PCGS indicates that this designation is only used for "major" planchet flaws (here's their text on this no-grade designation: "Metal impurity or defect in the planchet. Small, unobtrusive planchet flaws are acceptable. Large, obvious, poorly placed, or distracting flaws are rejected. Context is also important. Planchet flaws on certain U.S. Colonial coins are expected; planchet flaws on Morgan Silver Dollars are not."). Using the basic logic on planchet flaws, it seems that a dime struck on a cent planchet, or vice versa, would be the utmost planchet-related flaw, but these are graded.

Any thoughts?
-drew

Rampage

Coins with a planchet flaw should be submitted under the Error Coin level of service. Once that happens, the coin can be graded numerically.

Rampage

As you why this is the case, I really do not know. I understand the various view points, but that's the way the mop flops.

Sonorandesertrat

Probably because the type of grading used by commercial grading firms like PCGS is market grading. A coin with a bad planchet flaw or other mint-made defect would be severely net graded, in some cases deemed genuine (not given a grade). A somewhat minor planchet flaw might lead to a drop in one grade. Doug Winter has such a coin for sale on his website---a proof gold dollar graded 64; without the minor obverse flaw (dimple in the left field), it would likely have been graded a 65. The rationale is simple: when a coin is market graded, a planchet defect lowers its value in the marketplace relative to a similar coin that doesn't have such a defect. Hence a reduction in grade or rejection.

I would prefer to see coins with serious planchet flaws graded, but I concede that assigning a net grade could be difficult (especially since two graders and a finalizer are involved).

roadrunner

Coins with mint made planchet flaw are graded if the graders can come up with a reasonable net grade. I recall seeing an early capped bust $5 gold that was net graded
down to XF by ANACS in the 1980's because of a mint made lamination on the cheek. The coin had essentially full luster and was quite attractive. When it was later sent to PCGS it was
graded MS62 with no mention of the lamination. In fact, the lamination had minimal effect on the grade, no different than a jagged luster graze. If the mint made problem was much
more severe, it probably would not be gradeable. There's a sliding scale that at some point the coin only gets a genuine label. But coins w/planchet flaws do get graded.

CarrollCoins

Foremost, thank you for the detailed posts in this forum. They are most helpful!

I purchased this 1795 Draped Bust S$1 in an NGC XF Details "Planchet Flaw" holder because it is an incredibly original and well preserved early dollar. Both my dealer buddy and I thought that maybe it was under graded at XF (you have to see the coin in-hand to draw this conclusion as the luster is simply phenomenal and the strike details simply do not show on my scan).

I recently cracked and sent it to PC under their regular Express service, and was shocked that it came back as a VF35. My first thought, which has now been positively reinforced through this forum, is that PCGS "net-graded" this down to 35 due to the relatively modest planchet flaws on both the obverse and reverse. I was resolved in keeping this coin for my collection as despite it's grading handicap, it's truly a gorgeous coin.

However, after reading this forum, I am now convinced that I will soon crack it out and resubmit as an Error Coin to see what happens then. Will they upgrade to XF45 or better with an "Error" designation?

I will keep you posted, if you're interested.

(I can't figure out how to post my image. I have included them as attachments, but nothing shows up on the actual board. I'm sorry, without the photos, my post is mostly rhetorical.)