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Totally Depressed - Buffalo Gold Proof Grading fell short

Started by Swest-migration,

23 posts in this topic

Swest-migration

Swest-migration

Posted
Posted

Well I bought 4 gold buffalo proofs from the mint and then joined the collectors club. I sent them all in with a silver eagle proof. I went through over 20 silver eagle proofs to find the very best one. I examined each of my Gold buffalos thoroughly and was pretty sure I would get 1 at 70.

 

Every single item came back at PF69. Now I realize that a 70 is hard to obtain but I literally went though so many proof eagle to find the deepest cameo and flawless eagle.

 

My Gold Buffalo proofs were absolutely stunning.

 

Does NGC just say hey, we are safe at PF69 and use it as a default?

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Swest-migration

Swest-migration

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I also would like to add one thing. Why don't these grading companies highlight the reason or point out the issue?

 

That would be a great way to help collectors see and learn about their coins. Certified Diamonds are provided with a location of the flaws, etc.

 

I mean if they are looking at the coin, how hard is it to make markings on a piece of paper and send it back with the certified coin?

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HaydenTubbs

HaydenTubbs

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I mean if they are looking at the coin, how hard is it to make markings on a piece of paper and send it back with the certified coin?

 

 

It would take to long for one thing,with all the coins NGC handles.Especially on a buffalo proof,why bother...

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WaxonWaxov

WaxonWaxov

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I mean if they are looking at the coin, how hard is it to make markings on a piece of paper and send it back with the certified coin?

 

 

It would take to long for one thing,with all the coins NGC handles.Especially on a buffalo proof,why bother...

 

I would say the real reason is that if NGC did that, they would be giving away trade secrets. The 70 grade is very coveted. If they told people specifically what is wrong with a coin that gets a 69 not a 70, then that info would end up on the Internet. Then people could look at a coin they have and think "oh poop. this coin has that problem. I won't be sending that one in." Then NGC loses submission money.

 

Not to mention that a a primary thing that drives the value of 70 coins is the population report. As a collector, if you have a 70 coin, the more 69s in the population the better, right?

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Swest-migration

Swest-migration

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Well live and learn I guess.

 

While I am still learning on coin collecting and grading, I am also learning (perhaps) of the politics of coin collecting. I WAS going to send in an entire set of Eagle proofs (1986-2006) but I think I will hold off.

 

Perhaps if I was a dealer and sent in hundreds of coins, my percentage would be higher..dunno.

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TomB

TomB

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Please keep in mind that not everyone shares the opinions expressed about the politics issues. Certainly, there may be some points within the process that could or should be improved, but many collectors bleet like sheep regarding the certification services when they truly do not know what they are writing about.

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braddick

braddick

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Take your selected gold contemporary proof coin and rotate it under the bright sun outside.

If you see those tiny little "sparkles" on the coin/planchet as you slowly rotate the coin, your proof will not get the 70 grade.

 

Find one that has none or possibly (with NGC) one or two and you've got a strong chance.

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WaxonWaxov

WaxonWaxov

Posted
Posted
Take your selected gold contemporary proof coin and rotate it under the bright sun outside.

If you see those tiny little "sparkles" on the coin/planchet as you slowly rotate the coin, your proof will not get the 70 grade.

 

Find one that has none or possibly (with NGC) one or two and you've got a strong chance.

 

that's interesting

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DaveG

DaveG

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Swest,

 

If it were as easy to do as you seem to think, everyone would have lots of "70s".

 

You only picked the best eagle out of 20?

 

When you can pick the best eagle out of 200, then you will probably have a "70" grin.gif

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Swest-migration

Swest-migration

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I see your point ...and maybe I had my hopes up..

 

In regards to the eagle, I only collect the very best of proofs and I really look at them thoroughly. So in that situation I narrowed down to my best 3 eagle proofs and finally got to one.

 

It took me several hours on top of the several hours / coins I went through selecting each coin before buying.

 

But, you still make a pretty valid point. I just think it is strange that all 5 coins come back at PF69, with no variety at all.

 

I mean do they all have the same issue? Why wasn't any a 68 or 70? I know they keep population reports low but just seem a little too convenient to me, thats all.

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DaveG

DaveG

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Swest,

 

Actually, I don't collect either ultra high grade coins or modern coins, but I know some folks who do and I also know some ex-NGC graders.

 

The graders see thousands of examples of any ultra high grade coin you care to name. (I know one ex-NGC grader who had to sort through an entire bag of Ike dollars - looking for the best coins in the bag.)

 

The folks who submit ultra high grade moderns also go through thousands of coins to find the very choicest ones to submit.

 

So, you have to ask yourself - "Am I an expert grader? Have I looked at thousands of examples of these coins?"

 

Getting a "70" just isn't that easy.

 

As far as all your coins coming back as "69s" - well the Mint's quality is pretty good for Eagles, etc. these days. As you can tell from the price difference between a 69 and a 70, there are lots of 69s around.

 

Did your coins all have the same "problem"? Perhaps they do - for example, perhaps the luster just isn't quite enough.

 

(I could never tell something like that, but perhaps after one has looked at thousands of these coins, perhaps one could.)

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brwnprkns

brwnprkns

Posted
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My Buffalo came back Proof 69 Ultra Cameo First Strikes

I guess it's still worth at least as much as the raw coins. I do still have the original mint packaging accept for the round plastic holder which can't be too hard to replace.

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Brucec-migration

Brucec-migration

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Well I was watching thatcoin TV show last evening called Coin Collector no I would never buy anything from them but like to hear what they are talking about.

 

anyway they had 600+ complete sets of Silver Eagles yes 600 Plus complete sets and they were all graded PF70 by IGC

 

Guess money talks.....oh yes they wanted $ 999.99 per set.said they were woth 3,100.00 but gave no mint marks..

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RGT

RGT

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Just got my four first strike Buffalo Gold Proofs back from NGC,all four graded Ultra Cameo PF70.

Luck of the draw ???? I guess so.

 

It's early in the month and they haven't reached the quota yet. Submit them again toward the end of the month and see what you get.

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MAULEMALL

MAULEMALL

Posted
Posted
Just got my four first strike Buffalo Gold Proofs back from NGC,all four graded Ultra Cameo PF70.

Luck of the draw ???? I guess so.

 

It's early in the month and they haven't reached the quota yet. Submit them again toward the end of the month and see what you get.

gossip.gif
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Zoins

Zoins

Posted
Posted
Take your selected gold contemporary proof coin and rotate it under the bright sun outside.

If you see those tiny little "sparkles" on the coin/planchet as you slowly rotate the coin, your proof will not get the 70 grade.

 

Find one that has none or possibly (with NGC) one or two and you've got a strong chance.

braddick: Excellent tip. I actually think it's a good thing that NGC seems to have tight standards on these since they are in a competitive situation with ATS. BTW, those "sparkles" have been known to show up on ICG 70s if anyone really wants a 70.
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Zoins

Zoins

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In regards to the eagle, I only collect the very best of proofs and I really look at them thoroughly. So in that situation I narrowed down to my best 3 eagle proofs and finally got to one.

 

It took me several hours on top of the several hours / coins I went through selecting each coin before buying.

Swest: You didn't mention what power magnification you are using. Some people also use microscopes.
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