Define "PQ"
Touchdown
Posts: 233 ✭
O.k I know I am not the only one who has ran into a "PQ" coin before. When I look at major advertisements or inventory lists in periodicals I see many coins listed as "PQ". I go to dealers web sites or shows and they describe it as a "PQ" coin. How would one know if it is a "PQ" coin or not. Can a slabbed coin be "PQ" right now and 5 minute later not be "PQ"? Or vice versa.
Also, did the dealer buy it as "PQ" and should that matter if he is selling it as such? If it is "PQ" then why don't the dealers send it in for the next higher grade. If it is "PQ" it shouldn't come back lower and if it does just resubmit it again.
Finally, Can anyone explain why a dealer will advertise a coin as "PQ" to a buyer. When the buyer goes and sells the same coin back to the same dealer 1 year later. With the dealer not having recolection of him owning it before and it is the same coin. But, disagrees it is "PQ". Can a coin lose it's "PQ" status in a year even though it is in the same untampered holder?
Also, why don't all the grading company's designate them "PQ" or so. I know NGC has a star but no one else has a system inbetween. Should they start using "PQ" or maybe MS 64.5 or 64.6 if it is "PQ" rather than giving it a MS 65.
Also, did the dealer buy it as "PQ" and should that matter if he is selling it as such? If it is "PQ" then why don't the dealers send it in for the next higher grade. If it is "PQ" it shouldn't come back lower and if it does just resubmit it again.
Finally, Can anyone explain why a dealer will advertise a coin as "PQ" to a buyer. When the buyer goes and sells the same coin back to the same dealer 1 year later. With the dealer not having recolection of him owning it before and it is the same coin. But, disagrees it is "PQ". Can a coin lose it's "PQ" status in a year even though it is in the same untampered holder?
Also, why don't all the grading company's designate them "PQ" or so. I know NGC has a star but no one else has a system inbetween. Should they start using "PQ" or maybe MS 64.5 or 64.6 if it is "PQ" rather than giving it a MS 65.
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Comments
Oh, that's easy to explain!!
For many dealers it's just meaningless hype to try and derive a higher price from the collector- it's an overused word that oftentimes means nothing.....
For most collectors, it takes years of looking at a lot of coins to be able to grade with any consistency. The cliche comes to mind, "if you don't know your coins, you'd better know your dealer." Whether it is worthwhile to pay the premium and buy into the puffery, varies from dealer to dealer, coin to coin, and opinions will vary even among experienced collectors.
I have one dealer friend who only selects "PQ" slabs.
That means he doesn't buy sight unseen dogs - buy the coin, not the plastic.
IMO if the TPG's were doing their job, all coins would be PQ for the grade - based on "would I want to own that coin at that grade" and not on purely technical merits.
Sadly, this is not so.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Dealer buys from you, it's Poor Quality.
This is a picture of a PQ MS-66 Morgan
And this is a picture of a PQ MS-65 Morgan
In this era of slabbing, crackouts, and re-grading..........PQ implies "this coin might make a higher grade if re-submitted".
It's a crap shoot........the coin lacks something that would give it the next grade higher.........it is SOOOO close that one is lead to believe it may have a shot at a higher grade.
Just my humble opinion.........
Pete
<< <i>When a dealer is calling it "PQ" are they giving us advice on what coins can upgrade? I always thought dealers didn't offer free advice on something that took them years to learn. >>
All dealers would like you to believe that, but the odds of a dealer coin upgrading vary from dealer to dealer, coin to coin. Some dealers are full of BS and the chance of their "PQ" coin upgrading are less than 5%. In fact, some dealers are so full of it, their PQs might downgrade more often than they upgrade but by the time a newbie finds that out, the shady dealer is on to the next newbie. A very few dealers will shoot straight with a newbie and if they say there is a chance of upgrade, there might be a 25% chance of a bump up. If the odds are greater than that, most dealers will go ahead and submit it themselves (given that the next grade up is a lot more money), or a crackout artist will cherry pick it out of inventory well before a newbie gets a shot at the coin.
Obviously, the description "PQ" is meaningless if the buyer or seller doesn't have a good enough eye to see the difference.
Doggedly collecting coins of the Central American Republic.
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"PQ" is very dependent upon the assigned grade. For example a really nice MS-63 could be called "PQ," but if it were in an MS-64 holder it might be viewed as marginal or quite average.
I like REAL "PQ" coins because they are often easy to resell. Smart collectors recognize them as coins that be pleasing to the eye for bit less money that one would pay for a higher grade.
For example, you could have a Morgan$ that has sharp crisp mind blowing luster that blinds you with a strong fresh look, but have a few scattered placement of marks that limit the grade to a 65. The coin would be a solid 65, that would be correctly graded with no chance that its a 66, but yet look better than many 66's.
Or take an original Barber coin such as a half that has the ultimate look for a circulated coin, yet be graded say vf-35, but is just far nicer in eye-appeal that many of the specimens available. It could actually be a vf-30, but the eye-appeal and originalitly are so nice that even it could be "PQ" and yet possibly be technically only a Vf-30??
Ideally, most collectors should hold PQ coins, where they can tell the difference themselves. One of the games today is stating that a coin is PQ because:
1. It has few marks............yeah, but the luster is burnt to a crisp.
2. It has great color.........yeah, but heavy hairlines hiding out.
3. It has a great strike.....yeah, but real rub on the highpoints.
4. Because I said so! .........finally, an honest seller!
Ideally a PQ coin has no major weaknesses or issues. Even the NGC STAR doesn't imply PQ, just superior eye appeal. And the concept of PQ is constantly being revised since grading standards and what is appealing are constantly under movement. 15 years ago you couldn't sell a dipped type coin for full money, now you can hardly sell an originally toned piece with average appeal for bid. Perception of what eye appeal or quality means has changed.
roadrunner