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<p>[QUOTE=&quot;statequarterguy, post: 991102, member: 21782&quot;]I see what the chart says and it doesn&#039;t disprove what I&#039;m saying.&nbsp; The lowering of the Morgan grades did not immediately cause a mass exodus from the market.&nbsp; The changes in the standards were &quot;slipped in&quot; and the promotions continued.&nbsp; Initially an ms65 was still worth the market price, which was the dealers&#039; argument, they weren&#039;t over priced.&nbsp; The problem was, one was no longer holding an ms65, now they had ms64&#039;s or ms63&#039;s, worth a fraction of what they paid and it took awhile for &quot;investors&quot; to realize they had been taken, especially the ignorant ones, then the mass exodus started.&nbsp; This scandal was so big and so wide spread, wiping out elderly retirees pensions that, correct me if I&#039;m wrong, weren&#039;t there hearings and consumer protection legislation passed as a result? </p><p><br /></p><p>You mentioned in a prior post that the grading standards were tightened because the whole community agreed it had to be done.&nbsp; Well that community was mostly dealers.&nbsp; And, that&#039;s what I remember too, the dealers were behind the changes because there was no way they were going to buy back all those Morgans sold at ms65 prices. </p><p><br /></p><p>Now, my point to all this is, it&#039;s extremely risky to pay huge premiums for minute differences in grade, when the grading standards keep changing, especially when it&#039;s pretty much agreed they&#039;re loose right now.&nbsp; Regardless of how long a change takes to affect the overall market, if ever, the ones who bought a high grade, only to have it lowered will lose big time.[/QUOTE]</p><p><br /></p>

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