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Have you ever thought about the purpose and non-monetary value of coin "grading?"
RogerB
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Why? What? Etc.....?
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The purpose should be to allow the valid comparison of known examples of a given issue.
What is now proved was once only imagined. - William Blake
While looking at the latest incarnation of the 100 point scale thread a few minutes ago, I found myself wondering if, at the end of the day, mapping the existing scale to another of equal precision and accuracy had anything to do with numismatics at all.
Other than that, what @Regulated said, broadened to include a standard, concise description of the state of preservation of any specimen even outside the context of comparison with another.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
For me they serve as an additional reference I can look at as I learn how to grade different coins. I have the ANA book as well. I’ve been to,d there is no substitute to looking at coins. Thousands of them. It’s helpful for me to see a number from a well regarded company attached to them.
I always check the GTG threads. I don’t post, but I always come up with a grade in my mind, then start seeing what everyone guesses, and what the final outcome is. I’m getting closer on some.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
So that my numismatic slut can be a more effective market whore?
I've sublimated my desire for money into a desire for money.
Whither the elusive spondulix?
Grade is just one issue. Pointing out cleaning and other issues that identify a problem coin is important. Tpgs make it possible to assemble a decent collection without years of serious experience. Sort of labels the playing field, but you had still better know what you are doing and be willing to learn because they are not a substitute for knowledge.
Like them or not, we are better off with them than without them. Imagine buying 'raw' coins over the internet without even a decent photo. At the least, I see them as an inexpensive insurance policy.
""Have you ever thought about the purpose and non-monetary value of coin "grading?""
Yes I have, more so recently.
I think that a new hobby of TPG grading submissions has spun off from the hobby of collecting.
I have a PCGS membership and submit only a few coins a year.
It really isn't necessary at all but it makes me feel like I'm in the mix and keeping up to speed.
That's the purpose and and virtually non-monetary...on my end.
Another reason is that I do like to get Trueviews of some of my better coins but I could take that money and invest it some equipment, practice and do it myself.
Very silly reasons.
Edit: I do feel justified in submitting certain toned coins that some would quickly dismiss as AT.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
80% of the time I have a coin graded is to prove its lineage.
For instance, a coin available in more than one set. (Those proofs and uncircs in the 20th anniversary A[G,S]E sets for instance, or the silver dime in the MoD sets, to prove it came from an MoD set and not a silver proof set, for example.)
Other times it's only to prove its a real coin. So coins like my '09 high relief and '08/'07 reverse ASE's were entombed. Well, that I had a coupon that was going to expire, so...
Otherwise, most of my collection is raw. Some of it should be slabbed, but... they're not going to be.
Yup. Sort of like gambling. Very compelling once you've had a few "victories."
Objective, well documented condition census information is very useful for the collector and the numismatic student. For the collector it gives them a sense of how nice their coin is relative to the other survivors.
Let’s say the condition census of the top 10 coins goes down to an EF-40, and you have a VF-30. That is an indicator that you have a pretty nice specimen and that you should appreciate it for it is.
If on the other hand, you have an 1806 C-4 (Large 6, Stems) half cent in EF-45, the condition census would tell you that your coin is not a big deal because many Mint State pieces are known from a turn of the last century dealer hoard.
For me, the biggest value is documentation and cataloging of coins via CoinFacts and TrueViews. No one else really has a catalog like this, though many have awesome photos.
I have a few coins that don’t really need a grade but I’m considering grading for to get them catalogued for the community.
While many dealers many not have an incentive to list every past coin on their website, I’ve wondered if they would consider posting to a catalog site?
complaining about coin grading is what got you bammed the last time
Roger,
Great question. I answered it for myself decades ago before teaching my first grading class. I believe coin grading came about as a way to describe the condition of preservation of a coin (what it looked like) to someone far away who could not see it.
Grading and verifying authenticity generally go together. This does add value, but it can also enable a census of known examples for numismatic research of rare dates and varieties.
PCGS holders are good for protection/preservation and presentation.
Collector, occasional seller
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Some issues circulated more than others, grading data indicates the extent of circulation. The 1829-1834 $5 old tenor are extremely rare from melting, and mostly high grade. In 1834 Congress wanted "to promote the diffusion of gold through circulation." The grading data of 1834-1838 $5 CHG proves Congress was successful, as they survive in all circulated grades.
Or through the mail without a picture period. That's the way it was done in the 60s and 70s when I started to accumulate better stuff. Talk about a crap shoot.
In the recent past I've had all my US gold and my better Morgan Dollars slabbed primarily for the benefit of my heirs (wife or daughter) should I pass on before they are disposed of.
it's crackers to slip a rozzer the dropsy in snide
Authentication and counterfeit detection (though they are both related to the numerical value of the coins).
"Seu cabra da peste,
"Sou Mangueira......."
I believe the TPG's provide a valuable service in regards to authentication and grading. This validation, while important, ultimately serves the market - value for sale. I do not agree with the 'eye appeal' part of grading...that is even more subjective than grading itself (no standards).
Cheers, RickO
Some interesting and thoughtful comments. Thanks!
Because it makes them fit good and orderly in the boxes.
Ahhhh....now we have the REAL answer..... Or is it because we are preventing ourselves from putting all the coin in a big pile and running our hands through them?