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<p>[QUOTE=&quot;physics-fan3.14, post: 2042116, member: 19165&quot;]Here, let me break it down for you:</p><p><br /></p><p>When you personally grade a coin, you are the First Party. You graded it. You are the First Party Grader.</p><p><br /></p><p>When you are evaluating a coin for a transaction, the other person is a Second Party. The dealer who has a coin you want, or the buyer who you want to buy the coin. They are the Second Party Grader.</p><p><br /></p><p>Because both the first and the second party have a vested interest in the grade of the coin, they are biased. This should be obvious.</p><p><br /></p><p>Thus, a Third Party was invented - someone who doesn&#039;t own the coin, and won&#039;t be buying the coin. They are unbiased, have no interested in the coin, and can give an objective opinion of the grade of the coin. These the the Third Party Graders. In recent times, most of the third party graders put the coins in slabs with their labels, to protect the coin and clearly indicate their opinion.</p><p><br /></p><p>In recent times, certain people decided that the third party wasn&#039;t doing a good job. They invented the Fourth Party. These Fourth Party graders evaluate the grade of the Third Party, and determine if they think the grade is good. If it meets their satisfaction, they put a sticker on it. If its not, they don&#039;t.</p><p><br /></p><p>The merits of fourth party grading have been discussed at length, and a quick search should pull up dozens of lengthy threads about them. TPGs are outfits like NGC, PCGS, ANACS, ICG, SEGS, etc. Fourth Party Graders are companies like CAC, PQ, WINGS, and whatever else redundant stickering service you might find.[/QUOTE]</p><p><br /></p>

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