Where’s the beef?

Posted on November 23, 2010 by

The beef these days is in Plus + grades.  Yes that’s right; while lots of people are asking how to value Plus graded coins others are out there making them and selling them for huge increases over regular grades. 

When PCGS introduced Plus grading last March most people thought it was a good idea.  We had been beseeched by collectors over the years to do something to recognize coins that were superior for the grade. Our Plus standards have been very strict and not many coins achieve this distinction. At first a lot of submitters who didn’t completely understand what it took to get a Plus were disappointed. You must remember that all aspects of a coin have to be superior to earn a Plus designation, it’s not just about eye-appeal. We projected that perhaps 10-15% of all the coins in a given grade might qualify for a Plus. This projection has proven to be very accurate. 

PCGS Plus graded coins are being snapped up wherever they are offered and sometimes at a significant premium to regular grades.  I talk to a lot of dealers and I’ve been made aware of many private transactions where a Plus graded coin has brought a large premium.  To be completely objective and eliminate any doubt it is best if we look at a few public auction transactions to report what PCGS Plus grades have brought in sales. 

The Bowers & Merena sale of November 2010 provides many examples of PCGS Plus graded coins selling. Here are just a few PCGS Plus coins from that sale: 

 

Coin

PCGS Grade

PCGS Price Guide

Auction Price Realized

1855 1/2¢

MS64+RD

$610

$2,530

1909 VDB 1¢

MS67+RD

$1,350

$4,485

1909-S VDB 1¢

MS66+RD

$17,500

$28,175

1918 1¢

MS66+RD

$2,000

$4,830

1913 T1 5¢

MS67+

$1,000

$2,128

1951-S 5¢

MS66+FS

$1,300

$2,703

1946 10¢

MS67+FB

$1,000

$3,105

1947 10¢

MS67+FB

$575

$3,565

1919-D 25¢

MS66+FH

$80,000

$109,250

1900 $1 Lafayette

MS64+

$2,850

$4,140

1952 50¢ Wash-Carver

MS66+

$350

$3,565

 

There are many other examples of PCGS Plus coins selling in this auction and in others.  While PCGS Plus grading has not been around very long it is quite apparent that significant value is already being placed on this designation. 

Where is the beef? Try looking at your PCGS Plus graded coins!

Filed Under: News

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