Grading Today Compared To The Past.

Yes, grading has changed over time.

Best example that I can think of is coins in PCGS OGH slabs.
Many were cracked out and resubmitted; they often came back a grade higher.

Another factor is market grading vs. the older technical grading.
That gave me fits at the ANA Seminars I attended two years ago.
Many of my opinions were low; rarely did I grade anything higher than was on the slab.

Isn't market grading where eye appeal is included as a significant element in the grading, while technical grading is simply based upon the marks to fields/strike/luster ect.? I was under the impression that the big US grading services were all market grading while ICCS grades Canadian coins simply based off of technical grading?

Good description of market grading:

http://boards.collectors-society.co...mber=1166960

Both PCGS and NGC admit to using "market grading" standards, though they prefer not to openly call it that for semantic reasons (ie the negativity associated with the term, as mentioned above by SsuperDdave). PCGS still openly claims the term on their glossary page.

As for grading standards slipping over time, it is a well documented phenomenon. It's called "gradeflation" and, just like monetary inflation, is usually a slow and imperceptible creep. It's really only noticeable when you pick up an old "how to grade coins" book from a generation or two ago.

Gradeflation happens fastest in places where the coin market is most active and competitive. America has had the most active and competitive coin market in the world for over a century now, so gradeflation has been worst there. Grading standards in America are far lower than standards in Britain, Europe and Australia. A coin slabbed by an American TPG as "EF40" I would grade "VF" and a British collector would grade "gFine", while I'd hesitate to call any coin slabbed below MS65 truly "uncirculated".

One postulated side effect of the creation of TPGs has been the elimination of gradeflation. While it may have helped reduce it, it has not eliminated it completely - as the crackout artists know only too well.

I'm not quite sure if UK grading is harsher or just different Sap. Either would account for a difference.

You'll also find the same arguments here in Britain; that standards have slipped. There may well be some instances of this.

It must be remembered that while ebay has been brilliant for bringing material to collectors, the large quantities of lower grade material has led to people thinking that what used to be average collectable coins, because they appear better than the rest of the 'bay, must be higher grade. We are all inclined to compare with what we have seen I guess. And if we mostly see washers ...

Plus, in Britain at least, grading has been influenced by the market and US standards. Way back in the 1950s, British grades were largely confined to Poor, Fine, Very Fine etc. I guess it was expected that collectors would inspect any coin they intended to buy personally and make up their own minds. There was no internet and dealers mostly sold from retail premises rather than by post.

During the 1960s or so I understand (before my time .. well, coin collecting time at least!) the terms, 'nearly'[VF etc], 'almost' and 'good' started to creep in. Now we have many more what might be called 'sub-' terms so that a coin graded 'Very Fine' in an auction catalogue of the 1950s might well be 'good VF', nEF or 'a really nice VF with much eye appeal' today!

It makes it seem that standards have slipped. But perhaps it's just that as prices have become more reliant on smaller and smaller differences in condition, grading has been adjusted to reflect this?