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<p>[QUOTE=&quot;Leadfoot, post: 1626043, member: 2972&quot;]Tom nailed it.</p><p><br /></p><p>The first coin&#039;s &quot;problem&quot; is a mint-made defect, and TPGs don&#039;t take these into account as problems unless they are very major.</p><p><br /></p><p>The second con&#039;s &quot;problem&quot; is post-mint damage....it appears intentional, it is on the obverse, and it is in a prime focal area.&nbsp; Three strikes and this coin&#039;s out.</p><p><br /></p><p>But really, both are subjective decisions, and you&#039;ll find examples of both types of damage in problem-free and details slabs.&nbsp; The key is figuring out the threshold...and (just to make it even more confusing) it varies by date and series, and even by varieties!&nbsp; In general, the more rare the issue, the more lenient the TPGs are.&nbsp; Said a bit differently, a problem on a wreath cent is viewed far more leniently than the very same problem on a modern proof.</p><p><br /></p><p>Lastly, TPG market grading is almost entirely subjective -- a judgement call.&nbsp; There is little objective about it, IMO.</p><p><br /></p><p>Hope this helps...Mike[/QUOTE]</p><p><br /></p>

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