MS70 vs MS69 posted by Johnson 1

[CSJournals-migration]

You make the call

 

I have posted a photo of a 2010 American Silver Eagle coin. I sold this coin to a good customer of and then customer brought the coin back to me for a refund. His statement was, it was not a prefect coin and should not have been graded as a MS70 by NGC. Well I looked at it and is did have an imperfection on the L in Liberty. I ponied up the cash and sent the coin in question to NGC for an Appearance Review. I received the coin back today and a nice letter which states "This silver eagle meets the requirements for MS70 by NGC standards. Take a look at the coin and you tell me is this a MS70 coin in your book?

 

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[Mokiechan]

Pictures are not the best way to try and affix a grade but the coins looks pretty

durned good to me. But, it does, perhaps, make a statement about what the

grading services consider PERFECT anymore.

[Thane]

Post a close-up of the L and we might be able to tell better. I can imagine, from your photo, that the L is scratched cross-wise, but it's hard to know from the photo that the appearance is not from another effect which would still grade MS70.

 

I just got back 2 coins from appearance review. Both came back unchanged, and both are still undesirable in my collection. (I bought the holders, not the coins, FYI, on EBay ...)

 

Without reading NGC's internal grading standards, I would imagine that an "acceptable" grade comes with an error of +/-1. So, they wouldn't downgrade a 67 to 66, but they would downgrade to 65. Likewise, they wouldn't downgrade a 70 to 69. Just a guess - some clarity from NGC themselves would help.

 

Considering the volume of modern proofs and comm's they grade, and how 99% of those coins are 69 or 70, and acceptable standards are +/-1, and the cash cow that especially the ASE's are, how can we fault the TPG's for a grade of MS70 which is essentially a glorified "GENUINE"?

 

The obvious and honorable solution is to maintain human grading of imperfect coins (like business strikes and pre-1978ish proofs), and use computer imaging software like PCGS's vaunted Plus service for later proofs and mocoms. A computer-approved MS70 with much lower percentage of top pops would actually generate better 70-premiums in the marketplace.

 

 

[9sec93lx-migration]

I was always led to believe that a MS70/PF70 coin was PERFECT. That's why we have 11 different grades for mint state. This coin has an obvious defect (scratched) which should lower the grade IMHO, MS69.

I would not be happy with NGC's answer to your request for review either. That's why PCGS coins are usually worth more. No way PCGS would call this coin a MS70. Inconsistency in grading was the reasoning for the whole TPG in the first place. Buy the coin and not the holder does not hold water. If I have to grade the coins myself I'll just save the 15 bucks and buy raw coins!

[James_OldeTowne]

is this a MS70 coin in your book?

My book doesn't matter, since NGC grades by NGC's book. The truth is, NO coin is perfect. NONE! So, no the coin doesn't grade 70 to me, nor does any coin existence.

 

But NGC doesn't use my standards.