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<p>[QUOTE=&quot;ToughCOINS, post: 2066603, member: 20480&quot;]<span style="color: rgb(0, 89, 179)">The exodus from Walkers, Morgans and Saints in 1989/90 shed light on the differences in what dealers were willing to pay for nice coins for the grade and ugly coins for the grade, and the services lost credibility over that.&nbsp; I view their mistake as the adoption of market grading to appease a group of buyers that don&#039;t really fit this market.&nbsp; Were it not for the fact that huge quantities of slabbed coins had been bought up by investment partnerships, and later liquidated at correspondingly huge losses, I doubt they would have felt compelled to make the change.&nbsp; </span></p><p><span style="color: rgb(0, 89, 179)"><br /></span></p><p><span style="color: rgb(0, 89, 179)">What other reason would they have had?&nbsp; It certainly wasn&#039;t their belief that pure technical grading was unsuitable for their product - at least not at PCGS, where they were unveiling their robotic grading technology at the time - they were fully vested in technical grading, and clearly did not have market grading in their sights.</span></p><p><span style="color: rgb(0, 89, 179)"><br /></span></p><p><span style="color: rgb(0, 89, 179)">No, they had to quickly reverse direction and find some way to bring investors back into the hobby.</span></p><p><br /></p><p><br /></p><p><br /></p><p><span style="color: rgb(0, 89, 179)">Wanting to bring coin prices back to Earth and fleecing buyers are contradictory goals, don&#039;t you think?</span></p><p><br /></p><p><br /></p><p><br /></p><p><span style="color: rgb(0, 89, 179)">That was merely an example.&nbsp; I should have illustrated my point by writing 64 to 65 instead of 63 to 65.&nbsp; Nonetheless, the sentiment expressed by disgruntled technical graders is still the same.</span></p><p><br /></p><p><br /></p><p><br /></p><p><span style="color: rgb(0, 89, 179)">Okay . . . now who&#039;s doing the fleecing?</span></p><p><br /></p><p><br /></p><p><br /></p><p><span style="color: rgb(0, 89, 179)">I am actually quite comfortable grading coins either way and, don&#039;t feel a sense of loss over either method, but I believe the hobby stands a greater chance of surviving with one method over the other.</span></p><p><br /></p><p><br /></p><p><br /></p><p><span style="color: rgb(0, 89, 179)">It is not my intent to exclude anyone . . . if investors who got burned by their ignorance decided to learn before going it again, I&#039;d welcome that - encourage it even - the more the merrier!</span></p><p><span style="color: rgb(0, 89, 179)"><br /></span></p><p><span style="color: rgb(0, 89, 179)">And don&#039;t misunderstand . . . I also don&#039;t want the market to undergo a major correction . . . I&#039;ve got as much of my life invested in this hobby as most have.&nbsp; But, for the survival of the hobby, I recognize that a major correction could be a by product of a healthy return to technical grading.</span></p><p><br /></p><p><br /></p><p><br /></p><p><span style="color: rgb(0, 89, 179)">I suspect that most who now are competent market graders were once skilled technical graders as well, and would have no difficulty retrieving that skillset, should the market swing back in that direction.</span></p><p><span style="color: rgb(0, 89, 179)"><br /></span></p><p><span style="color: rgb(0, 89, 179)">Enough discussion on my part . . . I&#039;ve had a long day at work, indulged in this discourse, am now getting tired, and still have a lot to do tonight.</span></p><p><span style="color: rgb(0, 89, 179)"><br /></span></p><p><span style="color: rgb(0, 89, 179)">Cheers,</span></p><p><span style="color: rgb(0, 89, 179)"><br /></span></p><p><span style="color: rgb(0, 89, 179)">- Mike</span>[/QUOTE]</p><p><br /></p>

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