Value of grading a proof coin.

[ScrapMetal]

Over on Facebook, saw that someone paid to have the 2019W proof penny graded by NGC. Of course it came back as proof (70).

I asked the guy what was the point, as the designation from the US Mint should be good enough to establish that it is a proof coin.

Is there some advantage in having a known proof coin graded?

[JadeDragon]

The plastic slab keeps it in proof state and is more attractive to some collectors? I own sacks and boxes of coins but only about 5 in slabs, so I don't pretend to understand the lure of a graded coin slab.

[Thogey]

I once talked to a PCGS grader about this. I used to maintain his yard. He said there is no such thing as an ms-70. He said it is a joke and all coins are flawed He said he could find a flaw if he looked long enough at any coin

[fasteddy]

Sure, many people are into graded coins, there is a huge market for it.

Proof 70 is the best in their eyes. There are lesser grades also PF 69, PF 68.

But know this...there are lesser graders also....most numismatist accept PCGS and NGC as the top graders.

There are grades for non-circulated coins that start with MS, "Mint State". With MS 70 as the best in their eyes.

The PF-70 or MS-70 coins always command a higher price....suppose to be "none" in better condition. I suspect there will be a lot of PF-70 with that "W" mint mark cent.

[Thogey]

I would not buy a key coin unless it was graded. At least not at market price.

But a proof? It's like buying a "collectible"