MS 70?

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Isaiah

MS 70?

#1 Unread post by Isaiah »

Our FRIENDS at INB, are really following in the footsteps of our FRIENDS at SGS. This piece made the MS 70 grade. Please give me a reason (other than lighting) of why this coin, which looks like it's straight from someone's pocket change made the MS 70 grade. The coin was described as (quoted from an eBay auction): "This auction starts off with a very special coin... a GEORGE WASHINGTON Golden Dollar from the Presidential Dollar Series. This is obviously the first coin in that series, Washington being the first President. I have studied this coin and the piece is truly exceptional." Comments welcome. :mrgreen:

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~Isaiah

Isaiah

Re: MS 70?

#2 Unread post by Isaiah »

...And This "MS 70" "BEAUTY"? :mrgreen:

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~Isaiah

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Daniel
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Re: MS 70?

#3 Unread post by Daniel »

You have to remember that they have a much superior grading standard than the upper tier companies. ;)

Isaiah

Re: MS 70?

#4 Unread post by Isaiah »

TPGSadmin wrote:You have to remember that they have a much superior grading standard than the upper tier companies. ;)

Yeah, something like "ohh shiny! It must be an MS 70." :mrgreen:

~Isaiah

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Re: MS 70?

#5 Unread post by Daniel »

Yes. Shiny modern coins are always 70 and any type coin with some shiny has to be 60-66 and with a lot of shiny 66-69. If all else fails then find the grade that will bring the most profit and put it on the label and sell it on ebay because no serious dealer or auction house will accept our superior grading standard.

Remember, grading is just an opinion, and it's time for the New School Grading Service standard.

I think we just wrote their entire grading book in a couple of sentences.

Isaiah

Re: MS 70?

#6 Unread post by Isaiah »

TPGSadmin wrote:Yes. Shiny modern coins are always 70 and any type coin with some shiny has to be 60-66 and with a lot of shiny 66-69. If all else fails then find the grade that will bring the most profit and put it on the label and sell it on ebay because no serious dealer or auction house will accept our superior grading standard.

Remember, grading is just an opinion, and it's time for the New School Grading Service standard.

I think we just wrote their entire grading book in a couple of sentences.
Exactly. And like CSI grading services said while they were still in operation, "other companies have a monopoly on the world of grading coins. We have to grade to the most reasonable estimate of grade that will in some way benefit the hobby. It would be illegal to monopolize other hobbies, so why should this be any different?". That completely sums it up. All coins after 1936 should be considered modern, and are therefore MS 70 if shiny. But were just trying to make an honest living! :mrgreen:

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Re: MS 70?

#7 Unread post by coinnut »

At one time a grade 70 was very rare. Now it seems the norm to grade a shiny coin a 70 to demand a higher premium. When did this change and why.
“Life is hard; it's harder if you're stupid.”
John Wayne quote

Isaiah

Re: MS 70?

#8 Unread post by Isaiah »

coinnut wrote:At one time a grade 70 was very rare. Now it seems the norm to grade a shiny coin a 70 to demand a higher premium. When did this change and why.
It changed when questionable companies like SGS, INB, ANGS, WCG, AFCGS and the like started to realize that there's some serious money in creating your own company in imitation of the upper tier companies (ACG, ANACS, DGS, ICG, NGC, PCGS), but the catch was, and is still that, you can grade any coin any way you want, as there is nothing stating it's illegal. These so-called "MS 70" coins were merely lustrous pocket change. They slab their own coins, and sell their own coins in relatively generic holders with the MS 70 label. Anyone can become their own grading service. Grading is an art, not a science. Please use only ACG, ANACS, DGS, ICG, NGC, or PCGS for your coin certification. True MS 70's are still very rare, but the shady "alphabet graders" have attempted to fill the void. I hope this helps.

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Re: MS 70?

#9 Unread post by Daniel »

In actuality it didn't change if you take grading serious. I could send 100 MS70 coins graded by SGS to PCGS and PCGS will send them back at much lower grades.

I think these companies give too much credit to luster and ignore the smallest contact marks. A serious and knowledgeable coin grader examines a coin under 10x jeweler's loupe and the will allow others to critique the grade they come up with and give their own.

It's less of an art and opinion when you have three or more educated and trained graders agreeing on the same grade. SGS, INB and all the other self slabbers don't use this process and only place coins in holders in order to sell coins, that are only worth face value or a little more, for the higher grade premiums.

I could prove this in a court of law and prove it's a scam, and if I ever obtain enough money I might pursue this.

One aspect these self slabbers and low tier grading "scams" don't realize or consider, is that they wouldn't be able to sell their over-graded coins for a premium if the top grading services didn't set a standard for grading thus creating these lofty premiums for genuinely high grade coins like MS70.

It's a paradox of how these companies that smack legitimate grading and grading services in the face owe their very profits to these services.

Isaiah

Re: MS 70?

#10 Unread post by Isaiah »

TPGSadmin wrote:In actuality it didn't change if you take grading serious
I was referring to the change in the respect of that now you see questionable "MS 70's".

~Isaiah

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Re: MS 70?

#11 Unread post by Daniel »

I was agreeing with you Isaiah when I said that because it has changed if you DON'T take grading serious which is what you stated. I just turned it around and said if you DO take grading serious it hasn't changed.

Sorry that I wasn't more clear. I know we are on the same page. :)

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