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<p>[QUOTE=&quot;ksparrow, post: 2760279, member: 7638&quot;]This has been an interesting thread.&nbsp;&nbsp; JTLee may be feeling like the butterfly that flapped its wings in Morocco, causing a tropical depression that became a hurricane once it arrived in the gulf.&nbsp; Now scaled down to fit into Cointalk posts.&nbsp; </p><p>As to the subject of the thread, that lovely quarter, I looked at NGC&#039;s posted grading standards.&nbsp;&nbsp; MS65: well struck, with moderate marks.&nbsp; MS66: very well struck, mild marks.&nbsp; MS67: sharp strike, few imperfections.&nbsp; </p><p>+ coins must have superior technical merit and superior eye appeal.&nbsp; </p><p><br /></p><p>I note that the subject coin has at least &quot;moderate&quot; marks, including a significant dig on the cheek (if you draw a line from the tip of the earlobe to the tip of the nose it goes through it) that is somewhat obscured by the brownish splotchy toning. I expect though cannot say from static photos that the luster is exceptional and the toning very attractive. </p><p><br /></p><p>While &quot;technically&quot; a 65, I can see this coin as a 66* with luster and toning carrying the day.&nbsp; I think it has been overgraded, even by NGC&#039;s own standards. </p><p><br /></p><p>So how was a grade of 67+ arrived at, which seems to me to exceed NGCs standards?&nbsp;&nbsp; I speculate that this coin was part of a submission of much more mundane coins, and when the graders worked their way through the lot they were struck by its beauty.&nbsp; I believe that the luster is great and the pastel toning &quot;floats&quot; on the surface and the graders were bedazzled by it after all the other stuff that passed through their hands.&nbsp; My opinion.&nbsp; </p><p><br /></p><p>Now I have a question:&nbsp; The TPG&#039;s have grading sets of major series for the graders to refer to in order to have some consistency.&nbsp; Assuming the grading sets themselves do not change over time (I don&#039;t know why they would) how does &quot;gradeflation&quot; occur?[/QUOTE]</p><p><br /></p>

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