Posted By:
DavidDavid V., as one who sometimes dismisses grading companies, I admit that I have the luxury of being someone who doesn't orinarilly deal with cards. Whether this is an advantage or disadvantage, is debatable (probably a bit of both).
I deal primarily with 20th century photographs, which is a widly different world. While I use typical card terms like Ex, VgEx, etc-- a photograph can have writing or other physical marks, and even trimming that does not effect the grade, depending what kind of photograph it is. Photographs were rarely factory made, and were often handcut. Certain marks and even irregular cuts help prove the authenticity/history of certain news service photographs, and, for this, can even raise the value. For example, certain markings on the front and back illustrate that a photograph was the 'original art' for newspaper or magazine picture-- which many collectors find appealling.
Ordinarilly, I give a grade for the physical photograph, and, separetly, note the quality of the image (Vg photo with a Mint image, Near Mint photo with a badly out of focus image). Also, unless it is particulary intrusive, normlal handcutting and back writing not effect the grade but is clearly and explicitly noted ('The photo has neatly handcut edges with production marks on the back, Grade Ex').
The other difference, is that many photographs are unique or otherwise ultra rare, so the collector ordinarilly does not have the luxury of turning down a deal in order to look for a better graded one on eBay next week.
The healthy thing that photograph collectors quickly learn is that, while overall grade and wrinkles and such are important and effect value, a photograph is judged primarly on the quality of the image and overal eye appeal. In the end, the difference between Ex and ExMt (presence or absence of a touch of roughness to one edge) or Near Mint and Mint is nearing unimportant.