Mint state grading

[Scott99]

Some of you may have seen this coin on ebay. I decided to buy it to finally get an idea of what PCGS looks for when they are grading. I decided to start of with an MS68 since anything that is equal or above that seems to command a premium. With all the memorial cents I've looked at, I can say I've probably only come across a potential MS68 ONCE! LOL

It's good to know that my lack of experience or knowledge of mint state grading didn't cause me to miss/toss one in a similar grade. I'm pretty uncertain in my ability to grade MS coins so I was wondering if it would be beneficial to buy a coin in the lower MS grades or if just having this one will be suffice to find the ones that bring a premium?

[Chugly]

I think you need to look at as many PCGS graded coins in your target grade ranges as possible. One coin is certainly not going to cut it. It may give you a bench mark, but there are wide ranges for each grade actually. You need to learn to pick out the "best" coins for each grade range based on your personal preferences, otherwise you may buy coins that will bug you later on. Third party grading services are HUMAN based, therefore they are prone to mistakes just like any of us. Check out some of the discussions on the PCGS forums (forums.collectors.com). While I agree that PCGS has pretty much the best reputation for accuracy and quality control, I have been around enough to see tons of mis-graded coins in PCGS plastic. I'm sure Chris can add many more on top of that. Have you heard the term, "Buy the coin, not the slab?" This is sage advise!

I do feel that, just as with varieties, looking at a lot of graded coins will greatly improve your personal grading skills and give you the ability to recognize that "top pop" coin when you see it. I also recommend becoming familiar with recognizing counterfeit slab's or fake id#'s, etc... Practice makes perfect as they always say.

[Scott99]

Thanks! I would always suggest buying the coin and not the holder. The only reason I bought this was that it was a decent price and I wanted some sort of reference for a higher-grade in a PCGS slab. I figure that a PCGS graded coin to reference would be more accurate to compare to than the last 'graded' coin I was in possession of.

Another thing that you bring up is counterfeit slabs. Does anything raise a flag about this slab I bought? The coin looks amazing under the microscope.

[flyhi3]

I Couldn't agree more with Chugly's statement. I would also recommend buying a few copper cents in your grade range, as they will be a little different.

[Chugly]

Another thing that you bring up is counterfeit slabs. Does anything raise a flag about this slab I bought? The coin looks amazing under the microscope.

I didn't mean to alarm you. There is nothing that makes me think your slab (and coin) is anything but genuine. The coin looks amazing and I'd say you made a great pick up! As an easy check, you can look up the certification number on the PCGS website to see if it matches the specs for your coin. You may have to join to do this and I am not currently a member there, so I can't do it for you, sorry. Perhaps someone else here can help on that?

[Antiquity]

You can go here to verify the slab #

http://www.pcgs.com/cert/

[Scott99]

You can go here to verify the slab #

http://www.pcgs.com/cert/

Thanks so much! I will definitely be bookmarking that link.

COIN INFORMATION
Cert Verification #: 2808848
PCGS Coin #: 3169
Date, mintmark: 2001-D
Denomination: 1C
Country: The United States of America
Grade: MS68RD
Mintage: 5,374,990,000
PCGS Price GuideSM Value: $40
Holder Type: Standard
Population: 605

[WaterSport]

Also read and try to understand PCGS grading standards listed here:
WS

http://www.pcgs.com/grades.html

[copperlover]

I can see that you are improving your grading skills. It is so subjective because when you look at some of the graded MS67 It is hard to see how they got that grade. Coins graded MS 68-70 have to pass the test or else they die in the slabs. I would say that Grading a coin in a slab is tough but can be done by experts.

Lucien

[BadThad]

You made a smart move. Learn how to grade high-end, modern Lincolns so you can spot them and pluck them out. The real find in the Memorials are the 69's, those are top pop coins that command a NICE premium. Don't get so caught-up in looking for varieties that you toss a super gem into the junk pile.

When I'm searching I have serveral "sub piles" I make after dumping out a roll. First, I quickly cull all the obvious junk, then I have coppers, zincs and gems. I go through each of those piles a little more carefully until they are narrowed down. In the last step I determine if there's anything worth keeping, i.e. copper, varieties or gems. I probably actually spend the most time on the gem pile because I'm ALWAYS working on my BU roll set. Every once in a while I find and upgrade....but it's getting rarer and rarer as most of mine are already at least MS-64 up.

Lastly, the TPG's dont always grade the way I do. They are mainly after luster and eye appeal. While those are important, I consider the strike just as important, especially the steps. They also tend to forgive spots and minor hits. To hit 69 has to have proof-like luster and only a couple slight waterspots. The fields have to be brilliant and almost completely free of distactions.

Good luck learning grading! It's a very important thing to learn as a collector.