Graded Coins

Post anything about coin grading holders, questions, images, facts announcements. If it's in, or about, or is a coin holders this is where to post it.

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SensibleSal66
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Graded Coins

#1 Unread post by SensibleSal66 »

Hey all. Have a huge question . What do grading companies do with your coin from start to finish ? How do they actually spot a cleaned coin ? I saw the PCGS videos but I didn't see any problem coins . Thanks
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Re: Graded Coins

#2 Unread post by Earle42 »

I talked with (only) two dealers who formerly were professional graders (admitted this was a few years ago). Neither dealer knew each other as they were both from different states. They both told me not to take their word fo it, but to do the homework myself.

The PCGS video is a great marketing tool, but they said it does not work that way.

They said that there were, in fact, three graders grading the coins. They passed the coins from the first grader to the next. They also said that because they were being paid by how many coins they could get through in a day that the entire process had a constant feeling that they needed to rush with everything.

They both told m to start looking carefully at slabed coins and I could find for myself what they were saying was true. Sure enough, I bought an MS70 ASE not long after and noted an obvious rim ding I could see without magnification.

I questioned the one dealer about this. He said that he is convinced, rather than actually going through and grading each ASE submitted to them in a Monster Box of ASEs, that they simply skim 20% of them off the top, labele them as MS70, and give the rest MS68-69.

I asked him how he could say this and he told me that for a couple years he was asking other dealers at shows to keep track of how many MS70s they got form the monster boxes. It was a consistent 20% by everyone he had helping him - which he said was quite a number of dealers. This dealer owns Antietam Coin Exchange in Hagerstown, MD. The other one is retired form the business now.

I found it interesting two separate people fro two separate areas (the other was northern PA) had the same experience and opinions.

I have some pretty compelling evidence that PCGS's website claims are not adhered to as to how they grade coins. Some are here:http://goccf.com/t/346174#2967242

Note the graphics quote the claims and show the factual product. The more I dig, the worse it gets. I was inspired by the dealers to do the homework for myself. I admonish you to do the same. Buy the coin and not the slab.
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

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Re: Graded Coins

#3 Unread post by SensibleSal66 »

Thanks Lee for that explanation ! I've never sent out a coin before but it looks like a big ordeal . On the other hand, I'm sure it gets easier the more times you submit coins . PCGS ,NGC and ANAC are the only companies I would "take a chance on " .lol
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Re: Graded Coins

#4 Unread post by Earle42 »

These are generally the "accepted" once by most who collect slabs as well as the Canadian company ICCS.

Personally I put more faith in people like Daniel than any of these company's opinions. An experienced dealer takes the time to actually evaluate every coin while someone at a company, pressed for time, and grading coins all day can make more mistakes. This is not a negative towards those graders specifically, its a fact that we humans, with repetition, tend to become lethargic in the task. Looking at coins in your own little cubicle under the same light for 8 hours a day HAS to take its toll!

However, I also do not believe the companies do as they say with three graders minimum per coin as well as assigning each order to specific specialists in that area (PCGS website under procedures). Some of the blatant errors and bad grading would never be able to make it through three people this qualified - especially since it is said that no grader tells another what he graded the coin as.
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

How much squash would a sasquatch squash if a sasquatch would squash squash?

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Re: Graded Coins

#5 Unread post by Daniel »

It's not a big ordeal. You print the ANACS submission form, fill it in (self explanatory), pack the coins in their flips, in a box. Send registered mail per insurance and you really just have to guess estimated value.

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Re: Graded Coins

#6 Unread post by SensibleSal66 »

ok , but how do I send One world coin (Krug) , 2 Variety coins ,One Peace Dollar and one 2004 Walking Liberty .999 on one form and figure out the fees ?
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Re: Graded Coins

#7 Unread post by DanB »

SensibleSal66 wrote: Sun Sep 13, 2020 6:27 pm ok , but how do I send One world coin (Krug) , 2 Variety coins ,One Peace Dollar and one 2004 Walking Liberty .999 on one form and figure out the fees ?
Go to Daniels YouTube channel he has serval videos showing how to submit coins. Here’s his submission for PCGS.

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Re: Graded Coins

#8 Unread post by Earle42 »

And let us see the results :)
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

How much squash would a sasquatch squash if a sasquatch would squash squash?

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Re: Graded Coins

#9 Unread post by karl.bursa »

:thumbsup: Earle is now YouTube Famous!!

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Re: Graded Coins

#10 Unread post by Earle42 »

Its Daniel's doing! :^))
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

How much squash would a sasquatch squash if a sasquatch would squash squash?

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Re: Graded Coins

#11 Unread post by Daniel »

LOL!

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Re: Graded Coins

#12 Unread post by SensibleSal66 »

Ok Lee, I will but it won't be for some time as I might end up sending more than those 5 . Thanks for your Help and Daniels infamous Vids .
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Re: Graded Coins

#13 Unread post by Kris W »

I generally agree with what Daniel said in his video. Heading companies are a crisp shoot. If you want to increase the value of a coin, you pays your money and you takes your chances.

As a buyer though, it is nice to know a coin is authentic and has a grade that is generally correct. I'm willing to pay a bit of a premium for such a service especially with all the online shysters in cyberspace.
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Re: Graded Coins

#14 Unread post by Earle42 »

I tend to see the situation as there being two hobbies. Some people collect the coins. Some people collect the coins+slab+label. As long as people understand exactly what you sated about the grade being generally correct, then they will be able to make smarter decisions.

Since a hobby is about what people ENJOY - there is no right or wrong about it. Education is always the key to collector success.
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

How much squash would a sasquatch squash if a sasquatch would squash squash?

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