Not sure about that, but I do now feel confident that 15 years ago ICG MS63 is now a NGC MS63. I can say that with full confidence. I can't say ICG wouldn't now call it a 64.
You further illustrate my points with each post Kurt. It's pretty simple when ya get right down to it. They've screwed up grading so badly that there no longer is any grading. There is only upgrade it and tomorrow we'll upgrade it again. And the sheep will follow us because it's us doing it. That simple paragraph explains it all.
I guess I never expected it to remain static. That's the difference. How can I be so sanguine about that? Easy. I never felt there ever was any such thing as grading expertise. Even the so-called experts have no idea what's out there that they haven't seen. Notice what the ANA calls their beginning level grading course for the Numismatic diploma program - Grading Coins TODAY. That's not a throwaway word. It's fully intended to change over time. Otherwise they would have called it "Grading Coins". We're on our seventh edition of the official ANA guide. Why? The previous 6 aren't worth the match to burn them.
Kurt this discussion has gone on for years. The 1st and 2nd editions of the ANA grading book were the same, and based on technical grading only. And the only MS grades that even existed were MS60, MS65, and MS70. Then in 1986 everything changed, pure technical grading was done away with and an entirely new grading system was developed. The old technical aspects were combined with several other aspects like quality of luster, quality of strike, and eye appeal to name a few. And, the number of grades changed to what we have today and greatly increased in number. Now from 1986 on, which is also when the TPGs came into existence, and that was no coincidence, the ANA grading standards for each and every grade remained exactly the same in the 3rd, 4th, 5th, and 6th editions of the ANA grading books. With 2 minor exceptions, having to do with 1 coin each and in 1 grade only, Lincoln cents and Buffs, in F15 only. The standards for those changed in the 6th edition. Other than that there were absolutely no changes in the standards for any grade for any coin. So 4 editions of the book remained the same for 27 years. That isn't what I would call changing over time ! Nor would I say it makes those previous editions not worth burning. That's what standards are - unchanging. That is what makes them standards. Now I haven't compared the 7th edition of the ANA book, published in 2013, line by line for every grade for every coin with the previous editions. But I suspect it hasn't changed either, or at the least not very much, given the history of the previous 4 editions. But if what they are teaching in classes is what you say, then I would tell people to forget about going to ANA classes for they would be a complete waste of time. Which your own experience seems to bear out.
What HAS changed is the whole "if it doesn't have attribute X, it can't be grade Y" zeitgeist. That's gone, and speaking for me alone, good riddance.
To each is own Kurt, but what you describe is the very definition of standards. If you don't have things like that then there are no standards. And if there are no standards then grades are meaningless.
Doug, I must admit I am utterly mystified how someone, ... ANYONE, could have read the first 20-some pages of "The Official American ... 7th edition", and STILL have a problem with grades changing over time. IT'S RIGHT THERE IN THE TEXT, Doug. I wouldn't lie to you. Page 8 is a particularly glaring example.
Kurt I've never read it as I don't own the 7th edition. So I don't doubt your word at all. But what I'd be more interested in is what the actual standards say for each grade, as compared to what is in the previous editions which were all the same. And if those standards have changed, then shame on the ANA.
I think part of that, --especially with early US gold-- has to do with the adoption by PCGS and NGC of sliding fee scales that makes cracking-out a mid-6-figure coin a very expensive proposition. On the very rarest stuff valued in the millions, the grading services are getting tens of thousands to grade the coin, and I suspect there is some reluctance to stiff submitters on the upgrade for fear the gravy train won't show-up next time around.
I'm passed the point where CAC or any of the TPG really mean anything. The coin is the most important thing. But I will say the TPG do weed out about 95-97% of the counterfeit ones, although there are plenty of doctored coins in them there slabs.