In the mid-1980s, two companies began grading coins and offering their services to the numismatic community. Professional Coin Grading Service (PCGS) of Newport Beach, California and Numismatic Guaranty Corporation (NGC) of Parsippany, New Jersey. The grading services examine rare coins, assigning grades and unique serial numbers, and then encapsulating the coins and the tags in sonically-sealed, tamper-evident holders. Holdered coins are now traded on the market, although there are still a vast number of "raw" or unencapsulated coins available. Encapsulated coins are also called "slabbed" coins. With these certified coins, a buyer can be assured that market value and the condition of the coin in question is established and accepted as an industry standard and the coin can be safely purchased with no fear of misrepresentation. It should also be noted that any individual who plans on buying raw, ungraded coins learn as much about grading as possible, for the old Latin adage of Caveat Emptor (Buyer Beware) still rings true today.