What is the difference between a 'raw' and a 'graded' Spawn comic?

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Grade: Education Subject: Comic
What is the difference between a 'raw' and a 'graded' Spawn comic?
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A 'raw' comic is one that hasn't been professionally graded. Its condition is assessed by the seller. A 'graded' comic has been evaluated by a third-party grading service (like CGC or PGX), which assigns it a numerical grade and encapsulates it in a protective holder. Graded comics are generally more valuable due to the objective assessment and protection.