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All Posts Tagged With: "Advise for collectors"

Top 10 Most Important Coin Grading Tips

By Scott Travers – USGoldExpert.com

With the advent of independent third-party certification, many coin buyers and sellers thought all their grading worries were over.

No longer would they have to scrutinize each coin they bought and sold to determine its level of preservation. No longer would they need to concern themselves with grading pointers, grading tips, grading advice–these mattered now only to the experts at the leading certification services.

From now on, all Mint State-65 coins would be created equal, as long as they got those grades from the Professional Coin Grading Service (PCGS), the Numismatic Guaranty Corporation of America (NGC) or ANACS.

In short, buyers and sellers no longer would need to think for themselves and exercise their own common sense. This is not entirely true.

Certification services have made–and are continuing to make–tremendous contributions to standardizing and stabilizing coin-grading standards. In the process, they have dramatically reduced the risk that buyers might suffer significant financial loss because they purchased coins that were overgraded.

But certification services aren’t infallible. And though they strive mightily for consistency, they–like the coins they grade–inevitably fall short of total perfection. Some coins graded Mint State-65 by PCGS, NGC or ANACS are indeed better than others; some might even qualify as Mint State-66. Others, by contrast, might get a lower grade if broken out of their holders and resubmitted.

Over a period of time, subtle shifts in standards or in their application can result in the existence of whole groups of coins that are undergraded or overgraded relative to the rest of the coins from a given grading service.

For example, in 1994, David Hall, founder and president of PCGS, admitted on my radio program–a weekly talk show called One-Hour Coin Expert–that during its early years, his company was reluctant to assign the grade of Mint State- or Proof-68. He candidly agreed that a number of the coins graded Mint State- or Proof-67 by PCGS during that early period might well receive a grade of 68 if submitted today. And that could increase their current market value by many thousands of dollars. (more…)