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<p>[QUOTE=&quot;Insider, post: 8216720, member: 24314&quot;]<span style="color: #b300b3"><i>Oldhoopster, posted: &quot;</i></span><span style="color: #336600"><i>Damage is damage</i></span><span style="color: #b300b3"><i>. </i></span><span style="color: #000000">[Yes it is, but...] </span><span style="color: #b300b3"><i>Why are TPGs giving these a nicer name.&nbsp; To make the damage more marketable. Any other explanation is just BS in my opinion. A pig is a pig regardless of what you call it.&quot;</i></span></p><p><br /></p><p>Here is the &quot;deal&quot; as I&#039;ve seen it evolve:</p><p><br /></p><p>At one time there were only authentication services.&nbsp; ANACS was the first in the US, the INS Authentication Bureau was the second.&nbsp; At that time coins were graded in house and ONLY to help ID them if lost or stolen.&nbsp; Coins were either sent out as genuine, counterfeit, or no decision - NO EXCEPTIONS!&nbsp; Any counterfeit coin became untouchable &quot;junk&quot; in the market.&nbsp; Then in the 1990&#039;s the &quot;Micro&quot; O Morgan&#039;s were determined to be counterfeit at PCI.&nbsp; Perhaps a year later, NGC started calling them counterfeits and later, everyone agreed.&nbsp; <span style="color: #b30000">Then a funny thing happened <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie46" alt=":facepalm:" unselectable="on" unselectable="on" /></span>, rather than these coin&#039;s heading for the melt pot as fakes, they became even more collectable and many more Morgan&#039;s previously considered genuine were found to be fakes and very collectable.&nbsp; Thus, certain counterfeits became totally acceptable because of the market and a way to save the dealers/TPGS money for having them in stock or for slabbing them as genuine!&nbsp; </p><p><br /></p><p>A similar thing happened with grading.&nbsp; The first TPGS INSAB started to give out their internal grade opinion FOR FREE (used for ID) to anyone who asked.&nbsp; After the ANA Grading Guide was published, the ANACS (first authentication service) became the second third-party grading service.&nbsp; Today, the <b>ANACS</b> can trace its roots back and <b>is the oldest authentication and grading service </b>in business.&nbsp; Grading was very strict in the beginning at INSAB and ANACS.&nbsp; It was completely different than the way coins were graded in the market AND GAVE NO INDICATION of a coin&#039;s value&nbsp; or eye appeal (two things very necessary for the coin market).&nbsp; Dealers had enough <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie79" alt=":rage:" unselectable="on" unselectable="on" /><img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie92" alt=":stop:" unselectable="on" unselectable="on" /> and started PCGS.&nbsp; While the first grading services graded anything including coins with problems, PCGS and NGC did not.&nbsp; PCI was the first TPGS to slab coins with problems using a red border on the label.&nbsp; Their grading was strict.&nbsp; Dealers loved to buy PCI problem coins because over 60% of them could be broken out and straight graded by the two major TPGS.&nbsp; Eventually, pressure from the public forced the the top two services to also grade coins with problems.</p><p><br /></p><p>Finally, I get to answer to the subject of this thread.&nbsp; When a grading service puts a coin in a &quot;detailed&quot; holder it is a coin that they must.&nbsp; TPGS&#039;s don&#039;t want to &quot;kill&quot; a coin so there are a large number of straight graded coins with &quot;MARKET ACCEPTABLE PROBLEMS (in their opinion - not mine) in their slabs.&nbsp; The major TPGS do not wish to &quot;kill&quot; a problem coin either so we can find buffed and polished coins called &quot;cleaned&quot; along with improperly cleaned coins that are not altered as much.&nbsp; That&#039;s what is going on with corroded coins.&nbsp; A &quot;wink&quot; is given and corroded coins became &quot;Environmental Damage.&quot;&nbsp; Sounds better. Coins corroded by salt water became &quot;Sea Salvage.&quot; and since many of these came from known wrecks, they became collectable - just as the fakes in the first paragraph.&nbsp; We all know the coins are ruined but the market sells them without &quot;killing&quot; them in a details holder.&nbsp; The same thing happened recently with &quot;Chopped&quot; coins.&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" /></p><p><br /></p><p><b><font size="6"><span style="color: #b30000">This is not new at all.</span></font></b> <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie57" alt=":jawdrop:" unselectable="on" unselectable="on" /><img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie12" alt="o_O" unselectable="on" unselectable="on" /> &quot;Details&quot; grading is exactly how any coin with problems was graded over forty years ago at the INS authentication Bureau!&nbsp; We named it &quot;Technical Grading.&quot;&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie85" alt=":smuggrin:" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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