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Message:: [QUOTE="900fine, post: 376975, member: 6036"]Due to the noteriety of the 1804 dollar, this will always be a high-profile anecdote. At the EAC convention in Dallas, I was privileged to hear an NGC man give their side of the story on this one. As I recall, this coin was graded AU when it had significant toning on it. That toning obscured the coin's surfaces, so it was graded AU as a "defensive" measure - conservatively graded since they couldn't be sure. Then the coin was "conserved", thus presenting a clearer picture of the coin's true surfaces. In their opinion, there was no trace of wear, so it merited a 62. In that respect, giving it a 62 speaks very highly of their integrity ! They had to know there would be much criticism, so they must have felt strongly about giving it a 62. They stuck to their guns. I truly hope I'm giving a clear recollection of what I heard. I don't want to distort such a high-profile issue as this one; if I'm off, someone please post up. And yes, I feel NGC and Heritage are very solid and fair. No one's perfect; there will always be anecdotes about foul-ups. The key is <ul> <li>how many / how severe compared to their full body of work</li> <li>how do they stand behind their product when something is not right</li> </ul>In my experience, they are true professionals.[/QUOTE]