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<p>[QUOTE=&quot;imrich, post: 3418972, member: 22331&quot;]I agree with everything you&#039;ve said, and this condition with grading standards has continued because most buyers really don&#039;t understand the legality of current grading standards. At some time it&#039;s very probable that because of conditions similar to The PCI litigation, which probably with different representation, would have had a differing outcome. It&#039;s likely that I&#039;d have established a more objective outcome, as I believe also would JUDGE JUDY. It&#039;s highly likely that an evaluation for taxation of an extensive estate will precipitate an action that will drastically change the Numismatic &quot;Industry&quot;.</p><p><br /></p><p>Generally, in a legal action, unless there are published verbal/pictorial standards supported by an authoritative party, heresay, subjectivity, opinions, unsupported statements are inadmissible. If new industry standards can&#039;t be shown, an objective court probably could/would accept/require value establishment to be based on the last published written/pictorial standard or raw/intrinsic value for grading. The requirement of grading being determined by use of a published written pictorial standard is reasonable if it can be shown that the grading standards for coins in an estate can be shown varying by resubmission to that TPG. </p><p><br /></p><p>It&#039;s likely&nbsp; the IRS could/would require an evaluation based on the TPG retail schedule for taxation or recent net auction average sales value. The estate would need to prove a basis for the net tax amount due.</p><p><br /></p><p>A thesis could easily be written on this horrendous situation which is yet to be tested in the courts. I can virtually guarantee that unlike others, the &quot;industry&quot; will not be found &quot;too big to fail&quot;.</p><p><br /></p><p>CAVEAT EMPTOR[/QUOTE]</p><p><br /></p>

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