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<p>[QUOTE=&quot;David Setree Rare Coins, post: 2279717, member: 74719&quot;]Some of the confusion with grading is in understanding what is meant by &quot;Grading&quot;</p><p><br /></p><p>In my youth, all grading was of the &quot;technical&quot; sort. The amount of wear that the coin has received since it was minted determines the grade.</p><p><br /></p><p>Then came what is called &quot;Market&quot; grading or &quot;price&quot; grading. In this, the amount of wear is secondary to what the &quot;market&quot; would except for that type and era of coin.</p><p><br /></p><p>For example&quot; I had an 1812 $5 gold piece that was fully struck, free of contact marks and with an original &quot;skin&quot;. It had a very slight amount of wear, really just breaks in the luster on the extreme high points. I told the seller that it was somewhere between an AU55 and an MS63, depending on which graders where working that day and whether they got-----well--never mind about that.</p><p><br /></p><p>He was firm on his price and I took a gamble and bought it raw.</p><p><br /></p><p>It came back MS62.</p><p><br /></p><p>The graders obviously thought that the coin was very attractive and believed that, even though there was some wear on the coin, that it was worth what an MS62 would be on the market.</p><p><br /></p><p>Now I am sure I have really confused our newer friends![/QUOTE]</p><p><br /></p>

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