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<p>[QUOTE=&quot;GDJMSP, post: 990637, member: 112&quot;]You&#039;re mixing things up a bit. The 2 things you are talking about had nothing to do with each other.</p><p><br /></p><p>The grade change - when MS65s became MS63s overnight. The decision to change the grading standards was made in 1986, when PCGS first opened its doors. Everybody in the numismatic hobby agreed that the change needed to be made, including the ANA. And so they changed the standards, they made them considerably more strict.</p><p><br /></p><p>The other issue, when the bottom fell out of the coin market, that happened in 1989 which was several years after the grade change. And the change in grades had absolutely nothing to do with the market tanking.</p><p><br /></p><p>Yes, there was a bubble. Yes that bubble was caused by Wall Street getting involved and creating securities made up out of coin indexes that could be bought and sold like stocks. Everybody thought it was the greatest thing since sliced bread. But when the bubble reached a certain point that were no more greater fools - the bubble popped and people lost a fortune. Common date Morgans that had been selling for $1500 were suddenly only worth $150. The same was truth with all other coins, they basically lost 90% of their value in just a couple months. People who bought coins back then and still own them, well they are still down 60% or more on their purchases which means the coins even today are only worth 40% of what they paid for them.</p><p><br /></p><p>But again - that had absolutely nothing to do with the change in grading standards.[/QUOTE]</p><p><br /></p>

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