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<p>[QUOTE=&quot;Insider, post: 2501025, member: 24314&quot;]Need to disagree here.&nbsp; The first grading service (International Numismatic Society Authentication Service) sent grading opinions on <span style="color: #b30000">all </span>coins using the TRUE &quot;Technical Grading System.&quot;&nbsp; There were cases where coins were returned as Uncirculated, chop marked; Uncirculated, corroded edge; AU, rim damage, etc.&nbsp; At ANA Summer Seminars in the 70&#039;s, as students were taught TRUE &quot;technical grading&quot; the usual example used was to catch a coin right off the coining press, saw it in half and now describe the coin to a blind man.&nbsp; Correct Answer.&nbsp; Mint State, cut in half from 12 to 6 o&#039;clock. Thus: <span style="color: #ff0000">ALL COINS CAN BE GRADED</span> no matter their condition.</p><p><br /></p><p>Now, you wrote about more modern times, the 1980&#039;s.&nbsp; True technical grading was becoming obsolete and only practiced at INSAB.&nbsp; ANACS used a bastardized system (they called it &quot;technical&quot; although it was not).&nbsp; NCI used their own system.&nbsp; Along came PCGS and NGC and &quot;commercial/market&quot; grading.</p><p><br /></p><p>Problem was there was a revolt (JUSTIFIED) when these clowns kept peoples&#039; money for doing nothing except shipping &quot;body bags.&quot;&nbsp;&nbsp; The folks at PCI were the first grading service to holder problem coins with a red label.&nbsp; The owner of that company claimed if he knew how lucrative this would have been, he would have done it from the start.&nbsp; Just to show that the TPGS claim of never slabbing problem coins was a total farce - I know that many, many dealers approached the PCI graders at shows to let them know how many PCI red labeled coins were cracked out and straight graded by NGC and PCGS!!! </p><p><br /></p><p>As I wrote above, ANY COIN CAN BE GRADED.&nbsp; So, IMHO, the fact that the major TPGS do it is a plus for the hobby.&nbsp; The coin in the photo is an AU due to a slight amount of friction (luster loss) on the high points and the die break is solid and virtually unbroken; yet the fields have been destroyed!</p><p><br /></p><p>I&#039;ll bet it would get an AU &quot;details&quot; grade at a TPGS.&nbsp; A similar coin with that little amount of rub and more pristine fields, could have graded as high as MS-62!<img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie46" alt=":facepalm:" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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