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<p>[QUOTE=&quot;GDJMSP, post: 2300816, member: 112&quot;]Eddie, I think you&#039;re basing your comment on a false assumption, but you can correct me if I am wrong. I think the reason you&#039;re saying that, stress think, is because you are misunderstanding something. What exactly ? Well, I think, that when I say that the ANA created market grading you are assuming that the value of a coin played a part in determining the grade of a coin. </p><p><br /></p><p>But this is not the case at all. When the ANA created market grading the value of a coin played no part whatsoever. The value of a coin simply was not involved, was not part of the ANA market grading system, in any way, shape, or form. Market grading, as designed by the ANA, determines the grade of a coin based solely on the condition of that coin - nothing else. And that has never changed in ANA grading standards.</p><p><br /></p><p>If you think <b>that</b> is &quot;market nonsense&quot;, OK, you&#039;re welcome to have your own opinion. </p><p><br /></p><p><br /></p><p><br /></p><p>I don&#039;t think you understand the difference between market grading, and technical grading. Because if you did there would be no way you could even think that, let alone say it.</p><p><br /></p><p>Technical grading is a very simplified system, and technical grading is what was used by everybody, prior to 1986. For one thing, with technical grading grading there were only 3 MS grades - MS60, MS65, and MS70. No other MS grades even existed. The same was true for Proof grades - PF60, PF65, and PF 70. It was a similar situation with circulated grades. There was AG3, G4, VG8, F12, VF20, VF30, XF40, XF45, AU50, and AU55. No other circulated grades existed. As you can see on that basis alone technical grading is very different from the grades we use today.</p><p><br /></p><p>And how you determine those grades with technical grading is also very different. The <u>only things considered</u> (the criteria) to determine the technical grade are as follows, for MS coins - there can be no wear; MS70 &amp;65 both have to have full mint luster, MS60 may lack full mint luster; planchet characteristics; bag marks (or contact marks if you prefer); scratches; edge bumps, nicks or dents - and that&#039;s it. Nothing else is taken into consideration in order to determine the technical grade of a coin. </p><p><br /></p><p>For circulated grades the amount of remaining detail is used. And anywhere from three quarters to traces of original mint luster must remain on coins from 55 down to XF40, respectively. </p><p><br /></p><p>That, is technical grading. That is all there is to it and there is nothing else.</p><p><br /></p><p>Market grading however is quite different. All of the MS grades were added and many circulated grades were added. And the grading criteria for MS coins were changed significantly. There can be no wear. Regarding luster, the quality of the luster is judged and the higher the grade the higher that quality must be. Planchet characteristics are taken into account. How well centered the coin is, is taken into consideration. Bag marks (contact marks), their number, their size and/or severity, and their location is taken into consideration, and that varies for smaller sized coin and larger sized coins. Scratches and their number, size, severity, and location are taken into consideration. Hairlines, which are different than scratches, their number, size, severity, and location are taken into consideration. Eye appeal is taken into consideration and its quality judged. The lower the eye appeal, the lower the grade must be.</p><p><br /></p><p><u>And please note - value is not even mentioned ! It plays no part whatsoever in determining the grade of a coin.</u></p><p><br /></p><p>With circulated grades, there were many more grades added. And much more, and more precise, descriptions of the remaining detail on a coin are used to determine the specific circulated grade of that coin.</p><p><br /></p><p>Those are the differences between market grading and technical grading. And as you can see they are very different. All of this information is taken directly from the ANA grading standards books. The 1st (1977) and 2nd edition ANA books are based on technical grading. The 3rd edition (1986), as well as all subsequent editions up to and including the 7th edition (2014) are based on market grading standards.</p><p><br /></p><p><br /></p><p><br /></p><p>And Mike, once you read and understand all of the above, it should be pretty easy to understand why technical grading absolutely did not accurately describe the condition of a coin. And why market grading does accurately describe the condition of a coin.[/QUOTE]</p><p><br /></p>

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