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<p>[QUOTE=&quot;vavet, post: 362045, member: 11630&quot;]What PNG did was not an experiment nor a real survey. It was an attempt to promote their favored comrades. I&#039;m unclear as to why you even brought that up.</p><p>&nbsp;</p><p>Anyway, Heritage also did a grading experiment which they called a &quot;grading concensus study&quot;. The typical spread was 4 points in the MS range. A collector submitted the results of his personal experiment to NUMISMATIC NEWS which they published. He submitted either 9 or 11 coins (didn&#039;t log the exact number into memory) all dated 1861 and not a single coin received the same grade each time. One in particular was a proof gold coin that started out in an NGC slab, got body bagged on the first resubmission and slabbed again on the second resubmission, all by NGC. There is at least one more experiment that I am aware of but I have no inclination to go digging in order to justify my position further. I also know someone who basically made a living for several years by cracking out and resubmitting, getting higher grades approximately 75% of the time.</p><p>&nbsp;</p><p>For the benefit of anyone interested, I&#039;d like to offer an example of &quot;market grading&quot; that they can check out for themselves. When was the last time anyone saw a VF 1924S Buffalo Nickel with a full horn? For the record, the price difference between Fine and Very Fine is a multiple of about 4.5. According to David Lange this issue was &quot;adequately struck&quot;, unlike it&#039;s 1926S counterpart, but is just as scarce in grades above Fine due to heavy circulation. He also specifically states that caution should be excercised when purchasing VF or XF examples that lack a full horn. Now, (I quess I have to include IMO) the reason all those half horn 24S nickels are being graded VF is because the supply of properly graded VF coins are either in XF slabs or just not available, so in order to increase the supply of VF coins, those &quot;Fine&quot; coins get &quot;market graded&quot;. Check it out if you have any doubts.</p><p>&nbsp;</p><p>I must be really old fashioned because I have always believed that in a free market society, supply and demand, not market grading, were supposed to be the governing factors in &quot;quantifying the value of a given coin&quot; in a given grade etc.[/QUOTE]</p><p><br /></p>

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