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<p>[QUOTE=&quot;vavet, post: 374686, member: 11630&quot;]This coin is an interesting example for those who want to learn about grading and especially third party grading companies. Back in the late 80&#039;s we were told that third party grading was the panacea for all the grading problems affecting the hobby. The pros were going to sort things out. We were also told that it was supposed to facilitate sight unseen transactions although one of the founders of PCGS AND NGC (John Albanese) is on record as saying that he would never buy coins sight unseen for himself or any of his clients. </p><p>&nbsp;</p><p>The reason grading was the central issue in that endeavor is because, all other things being equal, the price of a given coin was in relation to the grade. By fudging the grade, dealers were able to take advantage of inexperienced buyers in order to generate greater profits.</p><p>&nbsp;</p><p>Now, take a good look at the coin in question and then go to any coin site and compare it to all those other NGC MS64 graded 1887 Morgans. Would anyone pay the same money for this coin as you would most (nearly all) of the others? I think not. So what have we gained here?</p><p>&nbsp;</p><p>The bottom line today is the same as it was as far back as I can remember. Collectors need to educate themselves before spending their money on a hobby that still has many pitfalls. Don&#039;t ever take someone elses word as to grade, in fact, I never considered the specific grade of a coin, but rather what I thought the coin was worth compared to the asking price. In the case of the coin in this thread, I would pass in a heartbeat, but if it were to help out a friend who needed cash, I&#039;d go XF bid. If you have to buy coins sight unseen, make sure you can return them if they aren&#039;t up to snuff. Unless you are into super rarities, don&#039;t ever settle for anything less that what you expect in a coin because there will always be other opportunities and often at a better deal.[/QUOTE]</p><p><br /></p>

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