"I wrote a trilogy of articles for Numismatic News in the 1980s regarding grading. I cannot remember the name of the first one, but the idea was that since every coin is different, every one should be assigned a different grade which would be the equivalent of a serial number. The owner would be issued a certificate and the coin deposited under Cheyenne Mountain. The certificates could then trade. An updated article would propose images on the internet allowing a collector to actually see the coin.

"The second article was the BS grading system. I remember one line from the article of which I was particularly proud. I suggest that a VG bag may have been laundered and if it had not been, it probably should be.

"The third article was intended to be the culmination of the series. It was about SCAMS--Scientific Coin Analysis and Marketing System. The heart of this was vending machines. Of course these machines were capable of grading coins on the spot. Furthermore, franchises were available for sale.

"I doubt if anyone remembers these stories. That is of course because it was a long time ago, but also because the SCAMS article was never published. Political correctness seems to have existed even then!"

You were always ahead of your time, Fred. -Editor

"Thanks for including the article on the Milholland sale by Stacks. That was very interesting. I was particularly intrigued by the non-proofs as these were representative of what could be obtained by collectors in the day out of circulation or from the limited number of dealers/auctions. There was a definite decline in the condition curve as the pieces got older. The evidence of what was available in the east regarding mint-marked coins was interesting too - almost no San Francisco coins, and the ones that were included were heavily worn. More New Orleans pieces made it, a few more in the middle. The mint data showed that the migration of coinage was very slow in those days."

Great observations - thanks. -Editor

"I'm sorry but I can't add anything about this medal. I have never seen this piece and didn't have the dies for it. Schwaab made exonumia for events all over the country. It is a badge medal which would have been attached to a pin bar and worn. Possibly the Republican Party of which Harding belonged to, had these made to hand out to the dignitaries attending the inauguration. "

"I'm no help on value, but expect it is nominal. The reverse die for the Lord's Prayer and the hob to make the WGH bust die still exist. Nothing else I can think of to help with provenance from Schwaab perspective.

There is at least one that sold on eBay. The same WGH hob appears to have made this too."

Thank you. Heath provided this image of the Harding portrait hob. -Editor

Mashiko is in Kyoto, Japan with a traveling exhibit, Progression. -Editor