Interesting answer from Ron Guth on Q&A forum about MS70 coins

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  BECOKA Posts: 16,961 ✭✭✭

  January 30, 2007 6:20AM

  No such thing as perfect so all of the current 70's were judged to be better than any of the 69's. That's it plain and simple. Does not mean perfect.

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  basestealer Posts: 1,579 ✭

  January 30, 2007 6:23AM

  Isn't it all sort of comparative to the next lowest grade? If MS65 is this... and this is slightly better, then this is MS66 and so forth? Perhaps they've developed a slightly different standard for grades than the industry held previous, but as long as they are consistant it is a good system.

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  LALASD4 Posts: 3,602 ✭✭✭

  January 30, 2007 6:34AM

  Since all the ms70 are not perfect, that is why they are thinking about the 100 point grading system to correct all their past mistakes.

  Coin Collector, Chicken Owner, Licensed Tax Preparer & Insurance Broker/Agent.
  San Diego, CA
  
  
  

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  ArgentumRex Posts: 620 ✭

  January 30, 2007 6:40AM

  I think you're reading a little too much into his response.

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  PerryHall Posts: 47,549 ✭✭✭✭✭

  January 30, 2007 7:21AM

  MS70 = No imperfections under 5X magnification

  Worry is the interest you pay on a debt you may not owe.
  "Paper money eventually returns to its intrinsic value---zero."----Voltaire
  "Everything you say should be true, but not everything true should be said."----Voltaire

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  Bochiman Posts: 25,790 ✭✭✭✭✭

  January 30, 2007 8:16AM

  
  
  << <i>I think you're reading a little too much into his response. >>
  
  
  
  
  
  That's the problem that scares many leaders from commenting. No matter what they say, people want to read into it and, all of a sudden, it has multiple meanings to different people

  I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

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  MrEureka Posts: 24,713 ✭✭✭✭✭

  January 30, 2007 8:23AM

  Does anyone know who first decided that MS 70 meant "perfect"? If so, do you know what he or she meant by "perfect"?

  Andy Lustig
  
  Doggedly collecting coins of the Central American Republic.
  
  Visit the Society of US Pattern Collectors at USPatterns.com.

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  ksteelheader Posts: 11,777 ✭

  January 30, 2007 8:29AM

  
  
  << <i>Does anyone know who first decided that MS 70 meant "perfect"? If so, do you know what he or she meant by "perfect"? >>
  
  
  
  As struck

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  BECOKA Posts: 16,961 ✭✭✭

  January 30, 2007 8:41AM

  
  
  << <i>
  
  << <i>Does anyone know who first decided that MS 70 meant "perfect"? If so, do you know what he or she meant by "perfect"? >>
  
  
  
  As struck >>
  
  
  
  Wow, this may be the best answer I have ever seen for a 70 grade. No kidding. Simple and to the point.
  
  As far as answering the above question it was probably some average Joe collector that said it once and it spread like wildfire. Once it gets in your mind you kind of forget about truth of what it is supposed to be.

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  leothelyon Posts: 8,550 ✭✭✭✭✭

  January 30, 2007 8:54AM

  IF they were NICE enough
  
  Sounds like some idea I had running in my head back in my alley catt'n days!
  
  Leo

  The more qualities observed in a coin, the more desirable that coin becomes!

  My Jefferson Nickel Collection

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  Gemineye Posts: 5,374 ✭

  January 30, 2007 9:14AM

  
  
  << <i>
  
  << <i>Does anyone know who first decided that MS 70 meant "perfect"? If so, do you know what he or she meant by "perfect"? >>
  
  
  
  As struck >>
  
  
  There can be "Only One"...!!

  ......Larry........

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  RegistryCoin Posts: 5,129 ✭✭✭✭

  January 30, 2007 9:24AM

  
  
  << <i>...probably some average Joe collector that said it once and it spread like wildfire. >>
  
  
  I believe "perfect" came from the ANA's published discussion of grades where their description begins "70-'The Perfect Grade'," with "the perfect grade" in quotation marks, which leads me to believe that they did not intend a literal definition of the word "perfect", since it is known that perfection is but an ideal. I assume that it was simply used to describe a grade higher than any other, the top of the scale. IMO, it was a most unfortunate choice of words because many of us like to be so literal, even though it is recognized, concerning all (other) grades, that the art of grading is subjective.

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  Coxe Posts: 11,139 ✭

  January 30, 2007 9:30AM

  
  
  << <i>Since all the ms70 are not perfect, that is why they are thinking about the 100 point grading system to correct all their past mistakes. >>
  
  
  
  No, my guess is the 100 point scale was to (1) subject the hobby to their official standard while they have the lead in order to maintain it and (2) to push lots of coins competitively back through the system for revenues. It could arguably be good business.
  
  As for the perfect grade, perhaps in the theoretical absence of perfection 70 is a proxy for a 69*. Personally, I think the gold rush for 70 grades is pure silliness and a distraction from just collecting nice, attractive (and sometimes rare) coins.
  

  Select Rarities -- DMPLs and VAMs
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  razzle Posts: 998 ✭✭✭

  January 30, 2007 9:45AM

  PerryHall said:
  
  
  
  << <i> MS70 = No imperfections under 5X magnification >>
  
  
  
  In other words, PCGS isn't using "perfection" as the standard, but, rather, the absence of detectable imperfections under 5X magnification. It seems to met that's a useful paradigm.
  
  Thanks Perry.
  
  raz

  Markets (governments) can remain irrational longer than an investor can remain solvent.

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