What does Gem Proof Grade mean?

Discussion in 'Modern Chinese Coins & Medallions' started by silverfever, Jun 3, 2012.

  1. silverfever

    silverfever New Member

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    Wondering if anyone can help. If NGC assigns a gem proof grade without any numeric grading like pf 69 or ms 69,what does it mean?
     
    silverfever, Jun 3, 2012
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  2. jc888888888

    jc888888888 New Member Silver Stacker

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    NOTHING!!! marketing ploy developed for NGC,s biggest customers like modern coin mart, it is a "grade" reserved for coins that do not grade 69 or more ................. MCM instructs NGC to put the label on coins that dont grade 69 or more, so they do not have to take a huge hit selling the coins at a loss ..........they hope to grab people who dont know what the coin actually is...............it is a lower grade uncirculated proof,If you send a coin in and ask NGC to grade it that way....they will act like they don't know what you are talking about:) modern coin mart is doing it now with the 2012 Singapore coins..............
     
    jc888888888, Jun 3, 2012
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  3. shibaji

    shibaji New Member

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    It's usually 67 or less. So guaranteed to be between 65 - 67.
     
    shibaji, Jun 3, 2012
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  4. Thor122

    Thor122 New Member

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    Dont buy it. The 5 oz in gem sell for 480 a few days ago. Mcm is a seller
     
    Thor122, Jun 3, 2012
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  5. low

    low New Member

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    Allow me to say few things.

    1. This gem proof thing is used by PCGS and NGC, and perhaps other TPG, and it has existed since long time ago. They usually appear on low value bullion coins, eg ASE, and some re-struck proof.

    2. GEM is adjectival grading, 65 is numerical grade. They are 2 different grading system. So to say NGC use GEM to describe a 65 grade as marketing ploy is not appropriate. It is the collectors who does not understand the difference that buying into this thing.

    3. In American grading system,

    UNCIRCULATED MS-60 to MS-62
    CHOICE UNCIRCULATED MS-63
    SELECT UNCIRCULATED MS-64
    GEM UNCIRCULATED MS-65 to MS-66
    SUPERB UNCIRCULATED MS-67 to MS-70
     
    low, Jun 4, 2012
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  6. jc888888888

    jc888888888 New Member Silver Stacker

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    your right Low ,maybe not a marketing ploy on NGC,s part ,but sure looks that way on MCM,s part as far as these sing 5oz coins are concerned ,just has the feel of a little bit of trying to take advantage of the un-aware collector
     
    jc888888888, Jun 4, 2012
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  7. low

    low New Member

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    I agree.
     
    low, Jun 4, 2012
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  8. shibaji

    shibaji New Member

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    So, GEM is 65, 66 level ? I was at least including 67. This is worse. :-D
     
    shibaji, Jun 4, 2012
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  9. Lim

    Lim New Member

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    Not worth buying into .. waste of money i feel
     
    Lim, Jun 4, 2012
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  10. low

    low New Member

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    Theoretically yes. 67 is called superb gem.

    Realistically I have no idea what the true grade is, if one crack open a GEM coin and submit for grading. Could be anything, maybe even a 64.

    The only time I will consider buying is if I am looking for authenticated bullion.
     
    low, Jun 4, 2012
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  11. jc888888888

    jc888888888 New Member Silver Stacker

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    just a theory ..............since MCM ,has sold only 1 pf68 sing 5 oz............ and it did not do well.........it would be easy to assume that all he graded which was a considerable amount,anything under 69 went to the gem label, you would have to believe more 1 68 came out of that batch,.....just an assumptoin
     
    jc888888888, Jun 4, 2012
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  12. shibaji

    shibaji New Member

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    Interesting, but the GEM performance was even worse than 68 :-D
     
    shibaji, Jun 4, 2012
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  13. jc888888888

    jc888888888 New Member Silver Stacker

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    you dont know that my friend............you are assuming ,from a resale standpoint the gem does much better than the 68...........why wouldnt MCM instruct NGC to put anything under 69 in gem label?? keep in mind MCM is probably one of NGC,s biggest customers...............and the owner of MCM has a great relationship with NGC ,they are next store to each other in Florida........this is about churning coins for best return.....................
     
    jc888888888, Jun 4, 2012
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