I was leafing through the Heritage catalog for this past week's FUN/Orlando auctions (#1216), and spotted something that seems to me to exemplify all that can be screwy with the third party grading we've come to rely upon. Allow me to refer you to page 333 where lots #6066 through #6069 are pictured. All are 1893-CC Morgans. What appalled me was how marred the featured MS64 specimen (#6069) was. Gouge at the rear of Liberty's lips, another just above the neck, and three more parallel ones on the neck itself, all terribly distracting. In fact, of the four coins on the page, I frankly would far prefer to own #6066 despite its being graded at a lowly MS62.
Now I don't know what these lots hammered down at, perhaps somebody can post that information. But in my judgment, if more was paid for 6069 than for any of the other three, that person wasn't adhering to the "buy the coin, not the slab" maxim.