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I am looking at a PCGS MS-70 coin right now, and I am UPSET

Started by James_OldeTowne,

14 posts in this topic

James_OldeTowne

James_OldeTowne

Posted
Posted

Sorry - no images, because my camera couldn't capture what I will instead describe in words. But the serial number for this coin is 9965.70/13330619, and it is a 2003 1/10 oz. $5 gold "eagle".

 

Why am I upset? Because within about half a second, I could see that this coin grades no better than MS-68.

 

There is an obvious hit on the left side of Liberty's bosom. Furthermore, there are at least four tiny carbon spots on the obverse.

 

None of these are defects "on the slab" that I am misaking as being on the coin; they are clearly defects on the coin itself. I am 100% positive of this.

 

Fortunately (for me), it is not my coin. But the truth is, I have never yet ever seen a "MS-70" or "PR-70" coin that was truly perfect. And it is upsetting to think of all the huge dollars being spent on "pop top" registry coins graded "70" that simply do not deserve the grade.

 

Thank you for excusing this rantrant ....

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realone

realone

Posted
Posted

I completely agree with you, it is inexcusable for this to occur. Now the bigger question is why do you apologize for this rant? Isn't ranting the nebeficial aspect to these boards,heck I do it all the time.

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jesbroken

jesbroken

Posted
Posted

Now you have scared me, Mike.danger2.gif

 

By the way, I believe, if I understand this correctly, that MS and PF grade guides cannot be written down and followed like circulated grades, so therefore, must always be of the grader's opinion. So when buying slabbed MS/PF coins, you are trusting someone else's opinion other than your own. Why not just trust a dealer instead and pay raw prices. JMO

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michael

michael

Posted
Posted
Sorry - no images, because my camera couldn't capture what I will instead describe in words. But the serial number for this coin is 9965.70/13330619, and it is a 2003 1/10 oz. $5 gold "eagle".

 

Why am I upset? Because within about half a second, I could see that this coin grades no better than MS-68.

 

There is an obvious hit on the left side of Liberty's bosom. Furthermore, there are at least four tiny carbon spots on the obverse.

 

None of these are defects "on the slab" that I am misaking as being on the coin; they are clearly defects on the coin itself. I am 100% positive of this.

 

Fortunately (for me), it is not my coin. But the truth is, I have never yet ever seen a "MS-70" or "PR-70" coin that was truly perfect. And it is upsetting to think of all the huge dollars being spent on "pop top" registry coins graded "70" that simply do not deserve the grade.

 

Thank you for excusing this rantrant ....

 

100% in agreement (thumbs u

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CHABSENTIA

CHABSENTIA

Posted
Posted

Are you referring to buying a raw coin or a slabbed coin and paying raw prices.I have somke 1/10 ounce Gold Eagles in my safety deposit box where are both Proof and UNCIRC. The Proofs don't look that bad.

 

Pretty hard to buy Raw coins as until you get the coins in hand there is no way to tell if they have been cleaned etc.

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halfpint

halfpint

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Posted
James, While I don't disagee with your comments re:MS/PF 70, coins turn in the holder all the time. Isn't that what the grade guarantee is for?

 

i agree with you. i know that's how i thought! hm

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bsshog40

bsshog40

Posted
Posted
James, While I don't disagee with your comments re:MS/PF 70, coins turn in the holder all the time. Isn't that what the grade guarantee is for?

 

i agree with you. i know that's how i thought! hm

 

Well hits on a coin had to have been on it before it was slabbed, unless the slabber dropped the coin. Corrosion can take some time to show up, so depending on the date that this coin was slabbed would determine if the corrosion was there at the time of slabbing or just recently started to appear.

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James_OldeTowne

James_OldeTowne

Posted
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James, While I don't disagee with your comments re:MS/PF 70, coins turn in the holder all the time. Isn't that what the grade guarantee is for?

Mike,

 

My biggest problem is the hit right on Liberty's portrait. I know that sometimes, spots and such develop later. To be fair, the "carbon spots" are really small and faint... but a "perfect" coin should be that: perfect, and without disclaimers.

 

Edited to add:

The goal of this thread was by no means to hammer on PCGS. I have never yet seen a "70" graded by NGC that I thought was "perfect" either, and don't even get me started on ICG!

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