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<p>[QUOTE=&quot;Insider, post: 3524458, member: 24314&quot;]I claim to be there in the beginning of &quot;modern&quot; grading so let me try.&nbsp; I&#039;m more interested in reading what you have to say.</p><p><br /></p><p>This change to the way coins are graded has taken place slowly.&nbsp; It was going on way before 1986, just not very noticeable.&nbsp; Nice &quot;gemmy&quot; AU&#039;s were auctioned and sold as MS.&nbsp; Sometime after the major TPS&#039;s took over, the changes came faster as they abandoned their strict grading.&nbsp; I think dealer pressure (the TPGS major customers) and the rising prices of rare coins (grade must match increasing value) was the major reason.&nbsp;&nbsp; Another reason is coins are often graded by eye.&nbsp;&nbsp; How many of you have seen a coin dealer at a show put a glass up to a raw coin (or slab)?</p><p><br /></p><p>The last time I taught coin grading at the Summer Seminar I told the students to read the beginning of the ANA Grading guide they were given in the class but purchase Grading Coins by Photographs to use for grading as many images in the 6th Ed of the guide were too conservative.&nbsp; The newer 7th edition is much better.&nbsp; So right there in print from the first edition of Photograde and through the ANA guides you can trace the evolution of circulated grades.&nbsp;&nbsp; MS grades changed each time another # was added to the system.&nbsp; </p><p><br /></p><p>When I learned grading, an EF coin had most of its blazing luster intact (<b><span style="color: rgb(179, 0, 0)">EF-40</span></b>: Only the<i><b><span style="color: rgb(179, 0, 0)"> slightest trace of wear</span></b></i>, or rubbing, is to be seen on the <b><i><span style="color: rgb(179, 0, 0)">high points</span></i></b>.&nbsp; Today, that describes an AU-58 and many coins with a hint of luster somewhere in their design recesses are graded EF!</p><p><br /></p><p>As for admitting that standards have changed, it is something everyone knows.&nbsp; It was explained to me in this way by a major TPGS Finalizer:&nbsp; &quot;Grading has evolved because we have learned more about how to grade coins.&quot;</p><p><br /></p><p>The changes will continue.&nbsp; At one time a coin with a little weakness would never rate the &quot;gem&quot; grade.&nbsp; That&#039;s almost totally out the window now for many coins because they are rare fully struck!&nbsp;&nbsp; it is all about $$$.[/QUOTE]</p><p><br /></p>

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