Yes. Coin collectors complain all the time about third party grading. Large cent collectors so disagree that they have their own grading system which overrules the grader. For example, a coin graded a 40 by the grading service may be deemed only a 25 by the large cent collector. They generally feel that the number doesn't reflect the actual grade, but represents what a coin is likely to sell for. Coins with visible wear often receive an uncirculated grade which drives collectors crazy. Obviously, all third party grading has a long way to go to get it right.
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