Grade Inflation

Many years ago I collected Canadian and US coins.

Grades of coins for sale generally followed the
grading guides in the Red Book.

Seeing so-called grades of coins offered on Ebay
makes me glad that I do not collect US coins any more, as
the grades described seem to exceed reality by several
orders of magnitude.

The nation seems full of optimists who persuade others
that the grading is accurate.

Hurumph.

I see worn coins describes as Mint State.
I see coins that have had significant
circulation described as EF (or AU) when
F would be a reasonable description.

Not long ago I saw a UK coin described as
proof when the coin had clearly been in extensive
circulation (and that for a coin that does exist
in proof but was also issued for circulation)

The one thing that has put me off completely
from resatring my US collection is slabbing,
especially as the slabbing services seem wildly
optimistic.

We need a CFCG society (Campaign for Correct Grading).

--
Tony Clayton
Coins of the UK : http://www.coinsoftheuk.info
Sent using RISCOS on an Acorn Strong Arm RiscPC
.... Do unto others JUST BEFORE they do unto you!

"Tony Clayton" wrote in message
...
Many years ago I collected Canadian and US coins.

Grades of coins for sale generally followed the
grading guides in the Red Book.

Seeing so-called grades of coins offered on Ebay
makes me glad that I do not collect US coins any more, as
the grades described seem to exceed reality by several
orders of magnitude.

The nation seems full of optimists who persuade others
that the grading is accurate.

Hurumph.

I see worn coins describes as Mint State.
I see coins that have had significant
circulation described as EF (or AU) when
F would be a reasonable description.

Not long ago I saw a UK coin described as
proof when the coin had clearly been in extensive
circulation (and that for a coin that does exist
in proof but was also issued for circulation)

The one thing that has put me off completely
from resatring my US collection is slabbing,
especially as the slabbing services seem wildly
optimistic.

We need a CFCG society (Campaign for Correct Grading).

I've been on such a campaign for half a century now, and have failed every
time out. A trip around the typical bourse floor leaves me aghast. I pass
on about 98% of online auctions of U.S. coins. But I still keep plugging
away. Every now and then I can add a piece to my collection that somehow
escaped the slabbing and overgrading problem. One can find a dealer here
and there who knows what the grading guides say and follows them. It's all
part of the challenge.

James
'illegitimi non carborundum'

On Wed, 23 Mar 2005 10:40:55 -0600, "James Higby"
heezerbumfrool[at]hotmail[dot]com wrote:


"Tony Clayton" wrote in message
...
Many years ago I collected Canadian and US coins.

Grades of coins for sale generally followed the
grading guides in the Red Book.

Seeing so-called grades of coins offered on Ebay
makes me glad that I do not collect US coins any more, as
the grades described seem to exceed reality by several
orders of magnitude.

The nation seems full of optimists who persuade others
that the grading is accurate.

Hurumph.

I see worn coins describes as Mint State.
I see coins that have had significant
circulation described as EF (or AU) when
F would be a reasonable description.

Not long ago I saw a UK coin described as
proof when the coin had clearly been in extensive
circulation (and that for a coin that does exist
in proof but was also issued for circulation)

The one thing that has put me off completely
from resatring my US collection is slabbing,
especially as the slabbing services seem wildly
optimistic.

We need a CFCG society (Campaign for Correct Grading).

I've been on such a campaign for half a century now, and have failed every
time out. A trip around the typical bourse floor leaves me aghast. I pass
on about 98% of online auctions of U.S. coins. But I still keep plugging
away. Every now and then I can add a piece to my collection that somehow
escaped the slabbing and overgrading problem. One can find a dealer here
and there who knows what the grading guides say and follows them. It's all
part of the challenge.

James
'illegitimi non carborundum'


There is a couple of dealers who I use and they don't put a grade on
any of their coins, these just put a price on the coins. This means
you just haggle over prices not grades. Whilst I was in there I saw
the following interaction:

[Customer looking at some groats]

Customer: What grade is this coin?
Owner: £8.00
Customer: No, What grade is this coin?
Owner: It is a £8.00 Coin
Customer: Are you going to tell me what grade this coin is!
Owner: Your the collector, you tell me what grade it is?
Customer: I only buy Extra Fine coins, and if you are not going to
tell me what this coin is. I'm leaving
Owner: Good bye sir.

I found out later he sells buy Price, because he dislikes people
arguing over grades.

There was also a Trader in Scotland I used, who had two boxes of
coins:

Box 1 - Dull Coins
Box 2 - Shiny coins

Box 1 prices ranged from £0.75 to £4.00 depending on size, whilst Box
2 ranged from £2.50 to £7.00 depending on size. I must like I quite
liked buying coins from him (Many nice coins were bought from him)

Peter

In a recent message Peter Smith wrote:

[snip]

There was also a Trader in Scotland I used, who had two boxes of
coins:

Box 1 - Dull Coins
Box 2 - Shiny coins

Box 1 prices ranged from £0.75 to £4.00 depending on size, whilst Box
2 ranged from £2.50 to £7.00 depending on size. I must like I quite
liked buying coins from him (Many nice coins were bought from him)

Now that sounds like fun. Good for him.

--
Tony Clayton
Coins of the UK : http://www.coinsoftheuk.info
Sent using RISCOS on an Acorn Strong Arm RiscPC
.... The truth is a virus.....