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Message:: [QUOTE="beef1020, post: 1497696, member: 24544"]On the toning issue I think it's important to pay attention to the incentives of the TPGs.  These coins when certified often have a premium of multiple times the value of the coin which combined with the imposibility of determing NT from AT as Doug point out sets up a perverse incentive.  The TPGs can legitamently return NT coins as 'questionable color' knowing full well the coin will be resubmitted due to the huge premium given to graded toners.  I believe the coin will eventually get graded, but the TPG will pick up a couple grading fees in the process. Incentives matter, and it's my biggest complaint with the whole notion of TPGs as they currently exist.  They were suppose to fix the problem of overgrading by unscrupulous dealers, but the fact of the matter is they have similiarly perverse incentives.  Basically, the TPGs would put themselves out of business if they graded coins objectively and maintained those standards.  They make money by grading coins, which except for modern coins, means eventually the number of ungraded coins will drop so low that they don't have much business.  So when faced with holding their standards and going out of business, or loosening those standards over time so that previously graded coins are re-submitted for a potential upgrade which one do you think they did?[/QUOTE]