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<p>[QUOTE="johnmilton, post: 4503455, member: 101855"]That holds for a while, but grade-flation is really like a dog chasing its tail. You get a higher grade, but that increases the population of coins that have that grade. On the other side, collects see that they get less of coin for the grade so they pay less for the coin.</p><p><br /></p><p>I learned this years ago when I had a want list for a 1916-D Mercury Dime in something better than AG-3, which most of them seem to be. The collector and I looked at the Gray Sheet and decided that he could afford a VF.</p><p><br /></p><p>The trouble was, what the TPGs called "VF" was a VG in the old days. Hence the price was lower than you would have expected for a VF relative to a VG. To get all of the perpendicular ax lines, you had to buy an EF. I eventually found an EF graded coin for him.</p><p><br /></p><p>The dirty little secret about TPG grading is that they watered down the standards for the circulated grades on key date coins from the get-go. You could find a few properly graded key date coins in the circ grades, but they were few and far between.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 4503455, member: 101855"]That holds for a while, but grade-flation is really like a dog chasing its tail. You get a higher grade, but that increases the population of coins that have that grade. On the other side, collects see that they get less of coin for the grade so they pay less for the coin. I learned this years ago when I had a want list for a 1916-D Mercury Dime in something better than AG-3, which most of them seem to be. The collector and I looked at the Gray Sheet and decided that he could afford a VF. The trouble was, what the TPGs called "VF" was a VG in the old days. Hence the price was lower than you would have expected for a VF relative to a VG. To get all of the perpendicular ax lines, you had to buy an EF. I eventually found an EF graded coin for him. The dirty little secret about TPG grading is that they watered down the standards for the circulated grades on key date coins from the get-go. You could find a few properly graded key date coins in the circ grades, but they were few and far between.[/QUOTE]
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