To illustrate, let's imagine a coin which three graders out of ten would consider MS-65. The other seven would grade it MS-64. Based on probability statistics there is approximately a one in five chance that a random selection of 3 graders from this mix will result in at least 2 of the 3 graders grading the coin MS-65 thus insuring an MS-65 rating by PCGS or NGC. If the coin is worth $50 in MS-64 and $150 in MS-65, most dealers would just sell it in the MS-64 holder - possibly as a PQ But, if the coin is worth $300 in MS-64 and $1,000 in MS-65, chances are the dealer will resubmit it until the grading service finally grades it MS-65.

Needless to say, given the cost in time and fees of resubmissions, a dealer's ability to predict how other experts would grade a particular coin is very important to the bust-out game. Since the vast majority of coins would grade the same and some coins would grade lower only a few dealers can consistently make this a profitable venture. As an example, consider for a moment the above example. If one more person out of the 10 had graded the coin MS-64, this would have changed the odds to about one in eighteen, rendering most bust-out scenarios unprofitable.

Note: The consumer is probably not harmed by this, because the market takes this bust-out activity into account. Obviously, if a coin could never be broken out of a holder once sealed, MS-65's would be considerably rarer than they are now. The prices bid on the ANE system would be much higher as a result. Therefore, if a buyer purchases a coin based on the prices reported today on ANE (or any other sight-unseen bidding system), suffice it to say that he (or she) is only paying for a "low-end" coin that has most likely achieved its ultimate grade.