1859 silver 3 cent Journey from 1979 to Present

[Tyrock]

I own an 1859 silver 3 cent piece (variety 3). It's part of my basic type set. I bought it in 1979 from a local dealer as uncirculated. In 1984 I sent it to ANACS and the photo cert came back as EF-40 so I took it back to the dealer and he refunded the difference. I still have the cert by the way. In 2006 I sent it back in to ANACS to have it encapsulated and it came back as AU-50. It was in that awful blue slab and it had toned to a very dark color. So I cracked it out and dipped it and sent it in to NGC last month (my first submission to NGC) and it came back as AU-53. So my silver 3 cent type coin has had four different grades since I purchased it in 1979 and it's still with me. Just proves how subjective grading is, but I feel that it's an interesting story. By the way, I'm happy with the coins I sent in to NGC and I only use it and PCGS now.

[MarkVIIIMarc]

Interesting. As a newb I think this is a story about how important it is to buy thd coin not the slab....although if you wanna sell on fleabay a slab with a grade goes far.

[bstrauss3]

I only count three TPG grades but hey what's one submission among friends...

 

I also discount the ANACS blue ... that's the blind squirrel period [as in even a blind squirrel occasionally finds a nut].

 

In the case of the 3cs I also think they've gotten a lot smarter about issues regarding the strength of the strike. What used to be seen as wear (weak high points) is now seen as strike.

 

[MarkFeld]

I only count three TPG grades but hey what's one submission among friends...

 

I also discount the ANACS blue ... that's the blind squirrel period [as in even a blind squirrel occasionally finds a nut].

 

In the case of the 3cs I also think they've gotten a lot smarter about issues regarding the strength of the strike. What used to be seen as wear (weak high points) is now seen as strike.

 

I think knowledgeable graders knew the difference between weak strike and wear, even 30+ years ago. . Generally, I would attribute higher grades to gradeflation, not sharper graders.

[BillJones]

Yes, gradeflation has resulted in many upgraded coins since the 1970s. I don't do a lot of crack-outs, but the ones I have done have results in upgrades 100% of the time. Some of these coins are or have been in my collection.

 

For example I had a 1909 half eagle that I bought when I was in high school. I graded it as a low end Unc. When PCGS came along JJ Teaparty in Boston sent it in for me to be graded. PCGS called it an AU-58. A few years later, I cracked out, resubmitted it, and it came back graded MS-63. In five years time, it had "gotten better" by five grade points.

 

A rare variety of an 1800 dollar graded EF-45 among the specialists in the mid 1970s when I bought it. When I had the coin graded in the early 2000s, it became an AU-58. A 1799 dollar I have got an EF-45 from ANACS in the late 1980s. Today it is an AU-55.

 

The AU-58 grade on the 1909 half eagle was too low in my opinion and should have been raised. As for the others, it was mostly changing standards.

 

There is nothing any one of us can do to change this. If you try to hold the tide on your own, all you will do is give away to others the appreciation of your collection when comes time to sell. As much as we don't like it, grading standards do change. The trick is to distinguish between the "market acceptable" changes from the "Uncle Elmer Grading Service" gradeflation that is practiced by the "third world" grading companies who are less "ahead of their time" and more created to rip-off the unwary.

 

[CaptHenway]

Grading has inflated quite a bit since I used to do it. Just remember that grades can deflate as well, as they did after the market crashed in 1981.

[BillJones]

Grading has inflated quite a bit since I used to do it. Just remember that grades can deflate as well, as they did after the market crashed in 1981.

 

Yes, that is one of the ways that the grading companies have tried to support falling prices in down markets. They have tightened up the grading standards to cut down on the quantity of higher grade coins on the market. That move also would convince some buyers to pay a premium for "PQ" or "A coins" within a given grade.

[Prethen]

Was it worth all the grading fees for that coin?

[Nutmeg Coin]

I have seen many coins go up in grade that were formerly graded. The advantage of CAC is you don't lose the old slab with the gold sticker, but you don't know how much it would go up in grade if cracked out. I've had a couple XF45s, etc. that went up to 58 years ago.

 

Buyers can often use the old grading standards for their critical analysis when reviewing collections for purchase then get the maximum grade for the coin and $$$.