About Modern American Eagle and Buffalo Coins

-The minimum acceptable grade for a modern is MS/PF-68, and some consider even this high level a "reject." 69s are typical, and perfect 70s may be rare or quite common, depending on the coin and the grading service.

-For most series, PCGS has the strictest grading standards, followed by NGC. ICG appears to be about as reliable as NGC, although population information is more difficult to get, and their coins are lower-priced (and not as liquid) as the other two services. As time progresses, more 70s will be encapsulated but the rate is lower for "earlier modern" coins than for anything after 2002.

-All of the services define a perfect "70" as flawless when examined by a magnifying glass with a specific power, but they differ in their approach to the test. Many 69s are left behind because of a very minor flaw, so a "70" rating is a mark of quality. However the collector often may not be able to distinguish 69s from 70s using the naked eye, and sometimes not at all because they gloss over the flaw even under magnification. The most difficult aspect is probably distinguishing a mark on the coin from flow lines and tiny die flaws which are mint-made and therefore may not be counted as a negative.

-Some coins have been designated by grading services as "First Strike" or "Early Release." The benefit of getting some of the first coins the mint produces is that they will have been struck with fresh dies and not exhibit the minor inconsistencies that develop in the die after thousands or tens of thousands of hits. The Mint does not always ship in order of production, so there is some controversy about whether "First Strike" really indicates a better coin. We at Certified Finest have sometimes noticed die wear in later shipments which did not appear early on, but these labels may or may not add value indefinitely.

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