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Modern Grade - Brown/Red Label

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What is the modern grade label (brownish red)?? Does this label apply only to the modern comic books (post 1975?). I checked the CGC site and the only colour labels listed are Blue, Green, Yellow and Purple. Just wondering if this is a new label that has reciently come out because I just purchased a CGC comic book with the brownish red labeled (Modern Grade). Thanks for your insight.

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