Grading Standards

[Android]

First I'd like to ask Rick Montgomery how he is adjusting to NGC grading standards after working with PCGS for so long. Are the grading standards used by both PCGS and NGC REALLY that different? Is there so much subjectivity in the *technical* ANA definitions/standards, particularly in MS grades, that there can be such different interpretations applied by different grading services?

 

I'd love to hear John's thoughts on this as well.

 

Thanks,

 

Andy

[RMontgomery]

Andy,

 

Thanks for starting me off with an easy question. The adjustment period has just begun for me with three days now under my belt, and like most new jobs, there is a lot of absorbing of information that occurs. At this time I'm like a sponge, taking in as much as I can, identifying those subtle differences and working to incorporate them into my grading skill set. In your question..."are the grading standards used by both PCGS and NGC REALLY that different?", you're suggesting that you know intuitively that there aren't cavernous differences. And this is indeed true. There are, however, subtleties and "looks" that each service adheres to that truly separates them apart. There are different tolerance levels within grades as well as for those coins that are rejected for grading between the services. It is these subtleties and tolerances that I have begun to graft into my grading and will continue to absorb and learn over the course of time.

 

To answer the second part of your question, it is hard to believe that there could be too much interpretation as to what a high end Mint State coin might look like. After all, the higher the grade, the less there should be wrong with the coin itself. But keep in mind that the ANA grading standards are only a guideline and that each service employs its own, unique standard by which it grades. Some services have set the bar higher than others, thus the "different interpretations applied.." you mention are evident. Some differences are slight, while others are not. The marketplace, being the final arbiter, speaks volumes about which services apply and adhere to the highest standards on a consistent basis. Your top tier and most respected services have a body of work in the marketplace that reflect their higher standards, and as such the marketplace has rewarded these firms by establishing prices to reflect its confidence in their work. In short, while there is subjectivity and allowable interpretations for mint state grading, an MS-65 coin should still be one that has original luster and minimal obvious contact and not a coin that appears to have been put through a tumbler.

 

Sorry for the long-winded reply. I will try to be more brief in the future.

 

Rick

[Beijim]

Hi Rick, and welcome to NGC. Regarding long-winded replies, bring it on! The more detail, the better.

[John Maben]

Andy,

 

I really can't convey it any better than Rick just did.

 

I would like to add only that his existing skills and ability to learn and adapt have been impressive, to say the least. I feel lucky to be working with him and his arrival adds to our excitement about the future here at NGC.

 

John

[Android]

Thanks Rick!

 

That wasn't long winded at all. Explanations like this are what I need to hear. I would sometime love to hear a detailed explanation of the "look", although I doubt words could describe something you really have to see. I study (probably too closely) many NGC and PCGS graded coins and always get hung up in the "technical" aspects of grading, sometimes overlooking the "look", unless it is something that just jumps out at me.

 

Thanks again for a great post!

 

Andy