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Message:: [QUOTE="jolumoga, post: 26821790, member: 41780"]The issue is that, given that grading is subjective, it's not clear just how much coins are docked, if at all, based on milk spots. If the milk spots are primarily caused by the mint, and they may show up possibly years after getting slabbed, it's conceivable that TPGs, as one of the mods suggested here, might be lenient on the issue. It is my understanding that TPGs can be lenient when a problem is common within a particular coin or issue - this goes back to subjectivity and perhaps a lack of consensus. So, if a coin was given an MS65 grade and later develops milk spots, common for that type of coin, should it then be regarded as perhaps an MS64? This may seem like a cut-and-dried issue, which it might be in other cases, but it creates complications for a coin like the Peace dollar, which has innumerable numbers in slabs at the present moment. Also, you have the historical factor, given that they were minted about 100 years ago, so there could be some grace given.[/QUOTE]