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<p>[QUOTE=&quot;Conder101, post: 4204628, member: 66&quot;]Slabbing WAS intended to standardize grading, and the thought was to make coins a safer investment by making them fungible and allow for the establishment of a sight unseen market.&nbsp; It failed on all three counts.&nbsp; Grading didn&#039;t standardize, we have four services each using their own standards which may or may not match marketplace standards, coins never became fungible (fungible meaning in this case interchangeable, ANY MS-65 was the same as ANY OTHER MS-65) and the lack of fungibility lead to the rapid downfall of the sight unseen market.&nbsp; Many people think a sight unseen market means that you order a coin without having seen it, and if you don&#039;t like it send it back.&nbsp; NO!.&nbsp; A sight unseen market meant you order a MS-65 and as long as the slab says MS-65 you own it NO RETURN PRIVILEGES.&nbsp; Remember, they are supposed to be interchangeable.&nbsp; Well since you could be sent any ugly coin, grading error etc, and as long as the slab label grade matched you had to keep it.&nbsp; The bid levels on the sight unseen market dropped to 25% or less of greysheet bid levels (Which at the time were for sight seen RAW coins.)&nbsp; It had been hoped that by making them fungible, coins would bee seen as an investment vehicle for Wall Street.&nbsp; And for a little while it worked and several coin investment funds were set up.&nbsp; Almost all of them lost their shirt.[/QUOTE]</p><p><br /></p>

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