What does "PQ" mean to you?

[BillJones]

The surprisingly negative comments about the 1874 with arrows half dollar in PCGS MS-63 that I posted have led me to start this thread. What are you criteria for “PQ” if you believe in the concept? Here’s my list:

 

• There is no question about the grade on the slab. It is at least “dead on” is not better than that.

• The coin has superior eye appeal for the grade assigned to the coin. That does not mean, for example, S-63 that looks better than an MS-65. It means that among the 63 graded pieces usually seen that this piece is unusually attractive.

• The coin need not be a crack-out or upgrade candidate. It could be a crack-out candidate, but that is not required.

• It is well struck for the design with the detail showing consistent for the grade. Now weak spots in the strike should be tolerated.

• If it is a silver coin, it may have been dipped, but the dipping has not diminished the luster. I’m of the opinion that dipping other medals is more often than not counterproductive.

 

Anyone can add or discuss this list.

 

[MarkFeld]

To me, "PQ" means, or at least should mean "premium quality". And in theory, it should probably apply to any assigned grade other than 70. A "PQ" coin of a given grade should be of above average/extra nice quality, and hence at a minimum, better than an average or lower quality representative of that grade.

 

While I know some others disagree, I don't think "PQ" should be equated with extra pretty or flashy or colorful, etc. - those considerations generally speak to eye-appeal and aesthetics, not "quality".

[bsshog40]

I think that PQ is already covered with the star (*). Why should there be letters to reference what a slab already shows if the coin is worthy of it?

[MikeInFL]

To me, PQ means that the coin stands out from the rest of the coins in a particular grade. This generally means that the coin has exta eye appeal. To me, a high-end for the grade but ugly coin can never be PQ.

 

That said, PQ really means nothing to me. It is a label, a generalization (more often than not used to justify a higher asking price). Coins should be judged on their own merits, and not how they compare with others in the arbitrary and subjective game that is TPG grading.

 

[pendragon1998]

To me, PQ means that the coin stands out from the rest of the coins in a particular grade. This generally means that the coin has exta eye appeal.

 

To me, a high-end for the grade but ugly coin can never be PQ.

 

That said, PQ really means nothing to me. It is a label, a generalization (more often than not used to justify a higher asking price). Coins should be judged on their own merits.

 

That's more or less how I interpret it.

 

 

 

Could a PQ MS63 could be another person's sub-par MS64?

[MarkFeld]

I think that PQ is already covered with the star (*). Why should there be letters to reference what a slab already shows if the coin is worthy of it?

The star is supposed to represent extra eye-appeal, which is not necessarily the same as premium quality. There are NGC coins which are low-end for the assigned grade on a technical basis, but which still have a star because they are gorgeous, have extra contrast or flash, etc.

[bsshog40]

I think that PQ is already covered with the star (*). Why should there be letters to reference what a slab already shows if the coin is worthy of it?

The star is supposed to represent extra eye-appeal, which is not necessarily the same as premium quality. There are NGC coins which are low-end for the assigned grade on a technical basis, but which still have a star because they are gorgeous, have extra contrast or flash, etc.

 

I guess this is the part where I don't understand then. Doesn't matter what coin we're talking about so I'll use a Morgan for example. A regular? Morgan graded MS66* and one graded MS66PQ. Why would PQ make any difference if they are made from the same type metals, both have exact strike, details, and luster. Maybe the * Morgan has some great toning. What would the PQ coin have that differentiate it from the other?

[IGWT]

A coin that has few, if any, rivals in a given grade range when all the attributes of grading are taken into consideration. You can get a sense of what I mean by visiting the Shield 5c thread started by Dooly.

[MarkFeld]

I think that PQ is already covered with the star (*). Why should there be letters to reference what a slab already shows if the coin is worthy of it?

The star is supposed to represent extra eye-appeal, which is not necessarily the same as premium quality. There are NGC coins which are low-end for the assigned grade on a technical basis, but which still have a star because they are gorgeous, have extra contrast or flash, etc.

 

I guess this is the part where I don't understand then. Doesn't matter what coin we're talking about so I'll use a Morgan for example. A regular? Morgan graded MS66* and one graded MS66PQ. Why would PQ make any difference if they are made from the same type metals, both have exact strike, details, and luster. Maybe the * Morgan has some great toning. What would the PQ coin have that differentiate it from the other?

A truly PQ example should be of better technical quality/closer to an MS67 than a non-PQ MS66. For example, I would expect it to have cleaner surfaces than many other MS66's.

[RWB]

Once, long ago and far away, I thought “PQ” stood for “premium quality” and that this meant the coin was substantially better than usually found for the state of preservation.

 

Having come to the light of knowledge, I see now, however, that just as “uncirculated” no longer means “uncirculated,” “PQ” stands for “pretty queer” or “probably quite-average.” Thus, “PQ” seems to mean “a coin of typical appearance for the state of preservation.”

 

This is soooo difficult to ponder….I’d best go lick some “Forever” stamps and put them on slabs.

 

[MunkyMan95]

I pretty much agree with what has been said so far. A PQ coin should be premium for the grade, almost guaranteed to upgrade, or have qualities of, the next grade level. ie. a MS65 Morgan dollar that would most likely upgrade to MS66 if resubmitted.

[bsshog40]

I pretty much agree with what has been said so far. A PQ coin should be premium for the grade, almost guaranteed to upgrade, or have qualities of, the next grade level. ie. a MS65 Morgan dollar that would most likely upgrade to MS66 if resubmitted.

 

This brings another question to mind then. Is PQ used on slabs or is this just a description that the owner of a coin would give? If used on a slab, then it would already have it's proper grade and wouldn't need a PQ description to suggest that it would upgrade.

[jesbroken]

Good question, Bobby. Now I'm getting confused and there I thought I knew what PQ meant all along and wasn't even in the parking lot.

[MarkFeld]

I pretty much agree with what has been said so far. A PQ coin should be premium for the grade, almost guaranteed to upgrade, or have qualities of, the next grade level. ie. a MS65 Morgan dollar that would most likely upgrade to MS66 if resubmitted.

 

This brings another question to mind then. Is PQ used on slabs or is this just a description that the owner of a coin would give? If used on a slab, then it would already have it's proper grade and wouldn't need a PQ description to suggest that it would upgrade.

The major grading companies do not use "PQ" on their grading labels. It is an expression which is (often over) used and abused by sellers. I have seen many dogs offered by sellers claiming them to be PQ.

 

Like grading itself, it is at least somewhat subjective in nature. Heck, we can't even agree on what it supposedly stands for.

[bsshog40]

The major grading companies do not use "PQ" on their grading labels. It is an expression which is (often over) used and abused by sellers. I have seen many dogs offered by sellers claiming them to be PQ.

 

Like grading itself, it is at least somewhat subjective in nature. Heck, we can't even agree on what it supposedly stands for.

 

This helps me to understand better Mark. It's like saying "Gem Quality", etc.....

[rons]

I think a PQcoin is one that could be submitted for grading 10 times and come back a grade higher at least 3 times. It sticks out like a sore thumb when compared side by side with a group of the same graded coins. Of course, having said that, how many times do you get to line up a group of same graded coins for comparison?

[physics-fan3.14]

I really think a PQ coin is just above average for the grade. It has nothing to do with slabs or any of that fickle market grading stuff: according to a set of standards, a PQ 64 coin is a 64 coin that just doesn't quite make it to 65. There could be any number of reasons for this, such as strike, hits, etc., but a 64 PQ is still a 64. Yes, it might have outstanding luster, or be really clean but not as well struck. But if it doesn't meet the standard for a 65, it just isn't a 65, no matter how many times you submit it. Now, when you introduce the variability of slabs, the entire concept of PQ is ridiculous because a high end 64 could grade as a low end 65 depending on whether or not the grader ate Wheaties or Cheerios for breakfast. However, measured against a fixed standard, that high end 64 in a 65 slab is still a 64, whether or not the TPG says differently or not. People rely on the TPG too much, and seem to think their grade is law.

[ibyandsellsmith]

PQ is just a magic abbreviation, to let people think it is more than it is. PQ is nothing more then an unopened proof set, or OBW. Sorry I don't mean to be so negative but you've got to understand that I know how the world works, and although some people are honest most are not. If a coin is graded MS-65 and you think it should upgrade, because it's PQ meaning better then most 65's, don't you think you'd send it back in for regrade?

[michael]

pq to me means this

 

that the coin in a holder says pcgs ms 63 looks as good as or better in terms of grade and eye appeal than an average coin grading; a point; pcgs ms 64 higher

 

or in the case of say the services assigned grades in circulated

 

for example vf 20 25 30 35 so a pcgs vf 25 that is pq will look as good as or better than in terms of grade and eye appeal than an average non pq coin grading the next highest grade ie. pcgs vf 30

 

this is truly what pq means

[Shamika-migration]

I tend to define PQ from a technical grading standpoint. A coin that is PQ is one that just misses the next grade up. In other words, a coin that is a shot 65 is a PQ 64. Or a 64.9 is a PQ 64.

 

 

[IrishMike]

A coin is PQ to me when it screams in my ear, "what are you waiting for, take me home!"

[SLQS-migration]

PQ MEANS THE TOP 5% FOR THE GRADE IE:64.8,64.9