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Mike HI do NOT like the look of pinbacks in holders. I agree with the previous post with regard to the collector base understanding of condition. Cards are far more difficult to grade, in far greater supply, and reproduced at a higher rate than pinbacks. The lack of demand for pinback grading by the investors delving into cards will keep this from becoming the trend it has in cards.
Pinback collectors, like pennant, trophy, jersey, and advertising piece collectors aren't as driven by grade because so many items are nearly impossible to buy in any condition, that condition is less important (within reason of course). Think about how small the population reports for some pinbacks would be. There are dozens, if not a 100 pinbacks that are more scarce than a t206 Wagner.