gradingslabs

The OTHER Grading Services

Subjectivity Beyond the Point

A Commentary by Robert G. Duncan 4/1/05

Perhaps you have read my "Top Ten List" spoofs of the grading services. Perhaps you are wondering why I offer coins and occasionally even a piece of paper money which have been graded by a service.

Well the grading services do provide a service. They authenticate and attribute as well as grade. And when they grade on a careful and conservative standard, as some do, their grading service can be reassuring, especially when buying mint state and proof grade coins where a single grading point can make a big value difference.

However you may have noticed that I do not sell coins graded by all services. That is because in my experience some of the services do not grade consistently on a careful and conservative standard. I'm referring to those other than PCGS, NGC, ANACS and ICG. Often SEGS can be ok. The others I have found to be relatively undependable.

Recently at the Boston Bay State show a dealer who has bought from me in the past found himself short of cash and offered me a chance to review his stock for purchase. To my surprise most of his coins were in slabs by the relatively undependable services. I didn't even look at most of those; the few I did check out were significantly overgraded. Specifically I recall a Flowing Hair dollar in a slab marked "F12." After viewing it under my five power, I remarked to the dealer that is was a nice G6 coin.

The value difference between a 1795 Flowing Hair dollar in G6 and F12 in Coin World's Coin Values is about two thousand dollars. A collector who relies on that grading service's grading might think he is getting a "deal" if he could buy that coin for VG8 or VG10 money.

That dealer's taste in type coins is similar to mine. At the time I viewed his coins I told him that if his coins weren't in those holders, I'd take a lot longer to look over his stock. But, I continued, in good conscience I could not sell them as is, because somewhere down the road someone is likely to get burned. Like someone who would think he's getting a "deal" on a Flowing Hair dollar graded as an F12 that is actually worth less than half of a real F12 coin.

Yes coin grading is subjective. But only up to a point!



	The OTHER Grading Services *Subjectivity Beyond the Point* A Commentary by Robert G. Duncan 4/1/05 Perhaps you have read my "Top Ten List" spoofs of the grading services. Perhaps you are wondering why I offer coins and occasionally even a piece of paper money which have been graded by a service. Well the grading services do provide a service. They authenticate and attribute as well as grade. And when they grade on a careful and conservative standard, as some do, their grading service can be reassuring, especially when buying mint state and proof grade coins where a single grading point can make a big value difference. However you may have noticed that I do not sell coins graded by all services. That is because in my experience some of the services do not grade consistently on a careful and conservative standard. I'm referring to those other than PCGS, NGC, ANACS and ICG. Often SEGS can be ok. The others I have found to be relatively undependable. Recently at the Boston Bay State show a dealer who has bought from me in the past found himself short of cash and offered me a chance to review his stock for purchase. To my surprise most of his coins were in slabs by the relatively undependable services. I didn't even look at most of those; the few I did check out were significantly overgraded. Specifically I recall a Flowing Hair dollar in a slab marked "F12." After viewing it under my five power, I remarked to the dealer that is was a nice G6 coin. The value difference between a 1795 Flowing Hair dollar in G6 and F12 in Coin World's Coin Values is about two thousand dollars. A collector who relies on that grading service's grading might think he is getting a "deal" if he could buy that coin for VG8 or VG10 money. That dealer's taste in type coins is similar to mine. At the time I viewed his coins I told him that if his coins weren't in those holders, I'd take a lot longer to look over his stock. But, I continued, in good conscience I could not sell them as is, because somewhere down the road someone is likely to get burned. Like someone who would think he's getting a "deal" on a Flowing Hair dollar graded as an F12 that is actually worth less than half of a real F12 coin. Yes coin grading is subjective. But only up to a point!