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<p>[QUOTE=&quot;dltsrq, post: 7883002, member: 75482&quot;]Unfortunately, there are no longer fixed grading standards for American coins either, rather flexible &quot;market grading&quot;. 15 years ago, the Official ANA Grading Standards noted in a section titled &#039;21st Century Reality Check&#039;:</p><p><br /></p><p>&quot;Now, in the present 6th edition of this book (2006), certain coins that might have been graded as VG-8, such as an Indian Head cent with not all of the letters visible in the word LIBERTY, can be graded Fine-12. Lest a reader get the wrong idea, this book <i>reports</i> the grading being used in the marketplace. It does not <i>create</i> it... The grades of coins are not God-given, nor are they scientific, nor are they immutable. Perhaps like the English language, coin grades change based upon their use. Today we have to consider what the leading grading services such as ANACS, ICG, NGC and PCGS do, as well as what can be observed in offerings in auction sales, dealers&#039; stocks, and coin shows.&quot;</p><p><br /></p><p>About this same time, we all learned a new term: &#039;gradeflation&#039;.[/QUOTE]</p><p><br /></p>

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