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Does anybody know why CAC won't look at Redfield and Paramount Morgans?
I have a few I would love to have beaned, and since CAC does GSA Morgans, you'd think they would look at Redfields/Paramounts in the original holders, but they won't. I'm just curious as to the logic behind that... I've speculated to myself in the past it's because the holders tend to induce toning, but that's just idle speculation on my part.
If anybody has ever chatted with JA about it, I'd love to hear the rationale behind that decision.
Comments
Are the Redfield and Paramount dollars also graded by NGC or PCGS? And have you seen CAC assess GSA dollars that aren't graded by NGC or PCGS?
NGC grades coin in the Paramount/Redfield holders. Not certain whether PCGS does.
I'm referring to NGC graded Redfields/Paramounts, in the original holders. Sorry that wasn't clear!
I was aware of that. My guess is that CAC doesn't assess GSA's, Redfield Dollars or Paramount dollars, unless already graded by NGC or PCGS. Fadetoblack1004 didn't mention whether his coins are NGC graded. If they aren't, that might explain why CAC wouldn't evaluate them and that wouldn't be inconsistent with their policy on GSA's.
They are NGC graded.
I missed the nuance. Sorry. The question by FTB could have included Paramount holders as they do already have a numeric grade, though quite variable. Interesting in that NGC/PCGS act as a fourth party when assigning a grade to the Redfield coins. A CAC sticker would then be a fifth party.
In that case, I'm surprised CAC doesn't evaluate them.
I don't think anybody takes Paramount grades seriously, and if they do, they are probably uninformed.
Paramount placed the grades on the front, NGC puts theirs on the back. CAC could apply the sticker to the NGC sticker on the reverse.
The main reason why I'd like to see CAC start stickering Paramounts/Redfields is because I think the inability to get them stickered causes attrition on some of the scarcer dates and grades. It's probably too late to curtail the most substantial attrition there, but we could at least work to preserve the ones that are already out there, as well as any hoards that may be hiding for now.
I'd also really like to get the handful that I own beaned for personal reasons. 😁
I believe that the Paramount/Redfield coins were among the first "slabbed" and graded coins. It preceded my entering the hobby, but in the 1970's BU coins were not reduced to 18 (including plus,) grades.
Redfield's were splint into three groups and may have been inflated by A-Mark, but could have been adequate at the time. NGC grades on the 65's tend to run in the 63-64 range but I have seen the rare 66, it was a Peace Dollar as I recall. Could be some confusion to new collectors as to which grade was being affirmed with the bean.
Fadetoblack- please call me to discuss 908-781-9101 thanks John A
Back in the 1970s there are 5 MS grades at most, 60, 63, 65, 67 and 70. The system was very different from what it is today.
Furthermore, its been my observation that many of these coins were massively over graded. "MS-65" was "investment grade material," and the grade was way overused and abused by folks with an unhealthy profit motive.