This Coin was Misgraded by About Two and a Half Points

[dragon]

Here's one from a past submission of mine in 2010 I believe. This one pictured I felt was a nice MS66 and was quite surprised to see how it came back. In that same small submission, one other piece was undergraded by at least 1+ point, and yet another was overgraded by 2 points I felt. I sent this one to CAC and it gold stickered. What were the graders thinking here?

 

 

 

 

[KeyMan64]

Wow, that is a nice 64, maybe the nicest I have ever seen!

I wish I could buy 64s like that!

[Nutmeg Coin]

It is really rare for coins that have been certified in the last few years to get the gold sticker, but it shows the merit of CAC, where for $12.50 you get a sticker which may make the coin worth a couple of grades higher if the prospective buyers see the potential. What would be your other options? A grade consideration submission where you pay more money to the grading service that got the grade incorrect the first time?

 

What were they thinking? They see so many common date Morgans they can be forgiven for getting some of them wrong. Luster, strike, marks, toning, eye appeal; most people would be hard pressed to get that mix tabulated accurately translating into grade time after time.

[johnny9434]

nice coin

[dragon]

<<< They see so many common date Morgans they can be forgiven for getting some of them wrong. >>>

 

 

 

 

 

That sounds like a completely reasonable statement, however....

 

 

 

They tout themselves as professionals and the 'standard of the industry'

 

They supposedly have to have at least two professional graders agree on the final grade assigned

 

They fully expect the customer to pay again to resubmit regardless of how big a mistake on their first go around

 

 

 

[BillJones]

We need more of a close-up view of both sides of the coin to make useful comments here. What is on the reverse? Are there marks? If there are they matter.

 

Another concern that I have is that the luster appears to be clouded in the fields. If that is the case, then PCGS might have it right. Smooth surfaces are only part of the considerations for the grade. Luster is part of it too. Sometimes luster becomes too much of a factor in the grade. Some coins get high grades based on luster with too little concern for marks.

 

At any rate, if the luster is cloudy on this piece, that accounts for the grade.

[KeyMan64]

I agree, large quality images of both sides of the coin would be helpful...that being said though, the cheek looks amazing in the one small image shown.

[RWB]

To the OP: What is your definition of "mistake" and how can it be objectively understood?

[bochiman]

So, just so I get this straight, EVERY coin that gets a gold CAC sticker, no matter the plastic (there are only 2 that can be stickered), was misgraded by at least 2 and a half points, right?

 

I respect your morgan knowledge, but I know you have a serious mad-on about PCGS right now and so you appear to be going out of your way to vent and trash on them.

 

Given the CAC sticker (gold), and given the coin, even in a picture, which as you know, can be almost impossible to accurately grade by, I would agree the coin should be at least MS66. However, that said, both TPGSs have coins with CAC gold, so do you want to call them all out or just continue venting about the one you have the large issue with right now?

 

I just want to make sure I take your posts in the right way.

[Tyrock]

Nice coin

[BillJones]

You can look at this way.

 

I've seen dealers ask higher prices for coins with gold CAC stickers than the prices would have been had the coin been graded at the higher level. That makes no sense to me and "asking is is not the same as getting," but it is a consideration in the value of this piece.

[braddick]

Beautiful coin!

I too wish my "MS64s" looked that good!

[dragon]

To the OP: What is your definition of "mistake" and how can it be objectively understood?

 

 

 

 

 

I'm not sure it can be objectively understood as grading coins is just an opinion after all.

[Houston Investor]

If the coin is really in truly worth an asking price at a grade higher on the holder then why is it not in a holder at that grade many will ask.

 

I can see a very well off individual accumulating these as a curiosity set of coins considered under graded merely for display, laughs, and grins. A sort of hobby within the hobby. So he may pay higher than a coin at "the higher grade" but its the gold stickered coin he is really collecting for fun and as a conversation piece.

 

So those dealers asking more than that higher grade are playing this market it seems.

 

Not for me, but its their hobby, their money.