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JayFrank--I think it lets people compete in areas where there would be no competition without grades. The vast majority of registry sets are not difficult to complete. So, the grading companies, mostly PSA, have come up with an interesting marketing ploy to get people to compete for an aggregate number rather than just for completeness. They've thrown the chum in the water and the fish are swarming. It's an ego thing. I'm not immune--I have a few registry sets of newer material but the vast majority of my collection is unslabbed.