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<p>[QUOTE=&quot;BUncirculated, post: 1849801, member: 29581&quot;]I think Wayne Miller said it best when he wrote the following in An Analysis of Morgan and Peace Dollars, and I&#039;m quoting Bowers from his Guide Book of Morgan Silver Dollars:</p><p><br /></p><p>&quot;The flaw in all grading systems is this: After one has assigned a numerical rating to a coin, embellished it with the grandest of adjectives, or compared it(always favorably) to other specimens of the same date, THE COIN IS STILL WHAT IT IS. Even the beginning collector will not accept a gem rating for a coin which is poorly struck, heavily abraded, or lackluster. Eventually the coin must be judged by it&#039;s own merits...</p><p>&nbsp;No grading system, however inclusive in detail or excellent in design, should ever be substituted for common sense, or utilized as a crutch to avoid the seeking out of all the information necessary to learn how to grade coins accurately. NO GRADING SYSTEM WILL BE RELEVANT TO A PERSON UNTIL HE ACQUIRES SOME VERY BASIC DATA AND SKILLS.&quot;</p><p><br /></p><p>Bowers: &quot;And yet, most buyers indeed grasp for crutches, and cannot exist without them, such crutches being the grades applied by others, however well intentioned.&quot;</p><p><br /></p><p>Basically what they&#039;re saying is regardless of the fancy holder and label the coin is in, in the long run, the coin is what it is.[/QUOTE]</p><p><br /></p>

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