Is there a big rush for a new grading system? Because grades have sky rocketed for some series.
leothelyon
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There was a time when a collector could easily fill a NGC Registry collection with MS67 graded coins. Now it appears the same can be done with PCGS registry sets. Just where are all these MS67 and MS67+ coins coming from? My only guess is, there must be a push going on to show the competition is waning in the registry so that there is a need for a more versatile grading system. Or maybe it's just me? What you say.....if you have given any thought to this at all?
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
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abolish the registry
I can't speak to the MS-67 market because very few of the coins that I collect are at that grade level. They either don't exist, or the prices are prohibitive. I can speak for the AU to low end Mint State grades, and yes, the grading has loosened.
The general consensus appears to support the premise of gradeflation....and just reading here of the quantity of resubmitted coins in hope of a grade bump gives further impetus to the belief. Though I doubt there will be a new grading system in the foreseeable future, it certainly has been discussed. What a windfall for TPG'S.... Seriously, I doubt very much that this is at all probable. So, grade creep will continue... and as I have seen many old timers post... today's 67 is yesterday's 65+ or 66. Cheers, RickO
Well.......they likely loosened for many grade levels. If enough cared about this issue, there would be some stats available. Perhaps through our host. By what other means would a company have to keep a performance check or watchdog on themselves? They gotta have stats! How would they know when it's time to let go a coin grader because.....maybe he's losing his eyesight or there's something's amiss with his faculties.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
No push for a new grading system is on the horizon. As an example for moderns, coins minted in the 1940s and later, it seems probable that the existence of gems at various grade levels exist yet to be found. Prices at the 67 level reached levels that made searching for gems an attractive proposition. This is different than grade inflation. Instead it seems to be a natural response to those enterprising individuals that have the time, grading skills and resources to make submissions. While it is next to impossible to quantity what the unsearched MS population might be of say a 1950-D nickel might be, we know that it was horded by rolls. So the question then becomes, if it is solely the high end uncs that are being submitted, then does one need to factor in what the anticipated surviving unc population is that never will likely be graded? And if that estimate is undertaken, it seems probable that the bell curve in the entire surviving unc population would likely remain as it is just with more coins at the various levels. This explanation makes sense but I suspect an actuary may do a better job of highlighting the details. The population of MS67 post 1940 coinage will likely increase over time unless and until the financial incentive diminishes.
As for grade inflation, that is a separate issue. We know grading is subjective and that some opinions are better than others. We now that not all 67s are created equal. So the so-called crack out strategy to obtain an upgrade has to be factored into all of this. And there is simply no way to adjust and track accurately what has been resubmitted unless there is a change in the submission process which would likely involve data storage issues among other logistical issues. I would not be quick to blame gradeflation for the increase population in coins graded at the 67 level. Instead, I would question the data behind existing numbers, including population reports, as to accuracy, and then examine what is truly behind the evaluations placed on specific coins graded at 67 and higher.
Experience the World through Numismatics...it's more than you can imagine.
in 10 years you will be sending in your MS 74 hoping for a 75
This explains a recent situation where I saw a one point upgrade for one of my coins in an auction. Stepping up from ms-62 to ms-63 on this coin would have cost about $800 when it was all said and done. I could have sold the ms-62 and made some of my money back.
After looking at the ms-63 in the exploded view, I realized that my lower graded coin looked much better.
Thanks to Heritage, I can check the history of gradeflation easily these days
Big jumps in grades there! Can you post prices realized for those?
Those pictures are a plus for CAC, as note that none of the "after" pictures have CAC stickers...
Disgusting.
time to go back to collecting raw circulated coins to protect your investment. Why pay up for high grade examples if 5 years from now they will be lost in the throngs of newly overgraded coins .
No - recent submissions show no evidence of grade inflation.
I have some pieces sent in possibly after possibly 20 yr to be regarded (mainly OGH crack outs) no upgrades one downgrade.
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Yikes, this is very discouraging........... At least the don't have beans at the latest grades - or do they?
toyonakataro - Good examples and they seem rather typical.
A "new grading system" of some sort is not really necessary.
Consistency, strict adherence to ANA published standards, and refusal of TPGs to 'bend-a-grade' to satisfy a big customer who wants to pump a coin can take care of the problem. It would also be beneficial to 'grade' coins only on their individual departure from a coin that has "just left the dies." Anything else begs addition of opinion: that is a matter for buyer and seller to discuss.
Or collect world coins where coins are much more reasonably priced, lots of beautiful designs and greater potential for price appreciation. I can buy key date MS world coins for pennies on the dollar compared to US coins.
There isn't anywhere near the demand for many world coins (right now), but being a millennial, many younger collectors like myself enjoy collecting world coins over US coins. I feel like so many US coins have been maxed out between the *, the +, CAC and VAMS/ minor unnoticeable varieties. I still do a 7070 and collect mercury dimes but think my world coins have a better chance gaining value compared to my US coins.
In theory this just increases your transactions costs. Years later when you go to sell, you need to go get your coin over-graded to get maximum value.
I would just like to point out that I'm pretty sure the coins don't change. If you originally bought one of the nicest half-dimes for the date, that's exactly what you still have.
This may seem silly, but the first time I made a huge grading "score" I was mildly disappointed when the coin came back and looked no better than when I sent it in.
Gradeflation still has a subjective component. In the examples posted above, to argue grade inflation, you have to argue the the initial grades were appropriate and not under graded. As I wrote above... Grading is an opinion. And some opinions are better than others. Opinions can change as an opinion is not absolute.
Experience the World through Numismatics...it's more than you can imagine.