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do you think this would ever happen?

Started by halfpint,

17 posts in this topic

halfpint

halfpint

Posted
Posted

do you think that in the future, the mint would ever decide to grade their coins? i'm talking about mint sets and proofs. can you IMAGINE?????? people might say gee i just bought a mint slabbed 70 proof set! how much is it worth? what kind of warranty comes with it?

 

halfpint news.gif

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pendragon1998

pendragon1998

Posted
Posted

What I could see happening, instead, would be for the mint to contract out with a TPG like PCGS or NGC and offer mint issued coins already graded direct from the mint. No more buying a coin and hoping to score a 70 - you'd just buy one. A limited number of coins would be TPG in conjunction of the mint at each level. Coins could be issued at price tiers as follows (for example):

 

2009 Pendragon1998 commemorative dollar:

------------------------------------------------------------------------

NGC MS-70 $1000

NGC MS-69 $100

NGC MS-68 $50

Ungraded $35

Rolls ...

Bags ...

 

Thus allowing a wealthy buyer to simply buy on demand direct from the mint while still allowing dealers or other collectors to buy in bulk and hope for a 70 at a lower cost. That's my idea, anyway.

 

I'd also like to see the cent and paper dollar pay for themselves by selling ad space on the reverse to megacorporations for tons of money.

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Keleum

Keleum

Posted
Posted

God, I hope not...

 

The whole 70 scale is not worth keeping around. Come up with a nice 100 point that doesn't change with the home shopping network!!

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EZ_E

EZ_E

Posted
Posted
God, I hope not...

 

I agree! This idea has been tossed around before. Even though the US Mint is now the largest coin dealer in the nation, it is not their job, as outlined in the constitution, to do so.

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MunkyMan95

MunkyMan95

Posted
Posted

The government doesn't like to cooperate with anybody...

 

I doubt it would happen. What I could see is close to Michael's idea, but the Mint would send the coins directly to PCGS/NGC for the buyer, and have them sent graded to your door, getting whatever grades your set gets.

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Hoot

Hoot

Posted
Posted

Truly a frightening idea that Michael shared. But I believe that Chad's right that government agencies are not known for cooperation, so even this possibility seems low. But can you imagine, "NGC/PCGS, Official Grader of the U.S. Mint." 893whatthe.gif Even the Coin Vault would go out of business. flamed.gif

 

Hoot

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al_e_gator

al_e_gator

Posted
Posted
God, I hope not...

 

The whole 70 scale is not worth keeping around. Come up with a nice 100 point that doesn't change with the home shopping network!!

 

I don't think a 100 point scale will ever happen.

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Wihlborg

Wihlborg

Posted
Posted

I don't think a 100 point scale will ever happen.

 

 

Nether do I, and nor would I want it to. I feel that far too many collectors have a hard enough time trying to learn to grade by the 70 point system we already have.

 

John

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just carl

just carl

Posted
Posted

Being a pessimist as to what our government can, should, will, might do in the future I forsee that that is coming. I mean that the Mint will realize they can charge all sorts of money for a coin that is graded already. They already sell coins in plastic containers so why not just add a grade of thier own. For example a Proof set could be in the plastic it is now and have a rating of USM 50, in harder plastic USM 75, with a cardboard box USM 87, etc. Naturally each grade would command a higher price. A whole new grading system and if you don't like it, why just complain as so many do about anything the government decides. I predict this is just around the corner. They are producing so many different types of coins now, different containers, holders, boxes and on and on and on that why not just a grading system. And the general populace will be glad at that. Why if the government says this coin is USM 100, who could contradict that. As soon as they see a profit from anything a bill will be passed creating just that. Again, anyone that doesn't like it can just protest. That always works, right.

OH, OH. Who is that in the black coats at my door.

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Phoenix21-migration

Phoenix21-migration

Posted
Posted
God, I hope not...

 

The whole 70 scale is not worth keeping around. Come up with a nice 100 point that doesn't change with the home shopping network!!

 

I don't think a 100 point scale will ever happen.

 

Unfortunatly, it has. I don't know if they grade US coins, but there is a TPG with a 100 point scale right here. http://www.cgs-uk.biz/cgs-uk/aboutGs

 

The CGS UK system arrives at a numeric grade between 1 and 100 with 100 being absolute perfection. It is not our intention to replace the traditional grading terminology (listed below) but it can easily be argued that once a numerical grade is attached the need for some additional narrative description is superfluous.

 

Phoenix cool.gif

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CoinCurious

CoinCurious

Posted
Posted

Why if the government says this coin is USM 100, who could contradict that.

Well in the unlikely event that it happens. I would love to own a coin that would be certified MS 65 by NGC but have a tag on it stating that the gov't graded it USM 100. And then battle the gov't for improperly grading my coin. makepoint.gif Good times, good times. flamed.gif

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Hoot

Hoot

Posted
Posted
Why if the government says this coin is USM 100, who could contradict that.

Well in the unlikely event that it happens. I would love to own a coin that would be certified MS 65 by NGC but have a tag on it stating that the gov't graded it USM 100. And then battle the gov't for improperly grading my coin. makepoint.gif Good times, good times. flamed.gif

 

27_laughing.gif893applaud-thumb.gif

 

Hoot

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Houston Investor

Houston Investor

Posted
Posted

I do not believe 70 coins are worth a substantial premium.

 

I offer walkup sellers of mods at my table at shows CDN Bid whether the coin is slabbed, raw, or what assuming I want it for inventory. The CDN does not post bids for MS / PR 70 so why would you believe they are worth a premium anyhow?

 

Mods come from the mint in 69 and 70 condition and you think a dealer is gonna pay you a premium for them? Wow are some of you in for a shock lol.

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CoinCurious

CoinCurious

Posted
Posted
I do not believe 70 coins are worth a substantial premium.

 

I offer walkup sellers of mods at my table at shows CDN Bid whether the coin is slabbed, raw, or what assuming I want it for inventory. The CDN does not post bids for MS / PR 70 so why would you believe they are worth a premium anyhow?

 

Mods come from the mint in 69 and 70 condition and you think a dealer is gonna pay you a premium for them? Wow are some of you in for a shock lol.

 

 

Didnt want to get off track from the topic but I wanted to add my 2 cents. I do collect Modern 70 and 69 coins and others do as well. As far as a dealer not paying a premium for them sounds a little wierd to me. Please explain. Example I have 10 2006 Reverse Proof silver eagles some 70s some 69s I purchased them directly from the mint and sent them in for grading. I have roughly $65 in each coin, the same that anyone would have in this coin had they purchased it from the mint and sent it in for grading. I can easily sell one of these coins in 69 for $150 and a 70 for $650. The fact that I can sell the 70 for so much more than a 69 seems to prove there is a premium. Or maybe its just me. 893scratchchin-thumb.gif

 

 

However if you have any modern 70 coins that you would like to sell without any premium please give me first crack at them. yay.gif

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Conder101

Conder101

Posted
Posted
Well in the unlikely event that it happens. I would love to own a coin that would be certified MS 65 by NGC but have a tag on it stating that the gov't graded it USM 100. And then battle the gov't for improperly grading my coin.

No problem, you lose. The mint uses a different standard and by their standard it is a USM 100.

 

Unfortunatly, it has. I don't know if they grade US coins, but there is a TPG with a 100 point scale right here. http://www.cgs-uk.biz/cgs-uk/aboutGs

I do believe that right now CGS-UK only grades British milled coinage.

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Keleum

Keleum

Posted
Posted

I like that USM 1-100 and USP 1-100, completely tromping on the TPGs. Leave it to them to map the 70 scale to the 100. Perfect gov't planning. They can sub it to Haliburton.

 

How do I get to be the asst. mint director, for grading. Which campagin do i contribute too?

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